Non-fungible token (NFT) marketplace OpenSea has announced a $23 million fundraise led by Silicon Valley venture capital firm Andreessen Horowitz (a16z).

  • According to the announcement Thursday, transaction volume on OpenSea has grown more than 100 times over the last six months.
  • OpenSea lists among its creator contributors DJ and producer 3LAU, who announced the tokenization and auction of his latest album on the Ethereum blockchain in February.
  • Devin Finzer, co-founder and CEO of OpenSea, describes blockchain as providing the "building blocks" missing from the internet that could deliver "more vibrant, open economies in the digital world."
  • Andreessen Horowitz also recently led a $25 million funding round of Ethereum scaling solution Optimism.

See also: A Hacker Was Selling a Cybersecurity Exploit as an NFT. Then OpenSea Stepped In

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