OpenSea to Reach $10B Valuation After New Investment Round

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Non-fungible token (NFT) marketplace OpenSea expects to reach a $10 billion valuation following a new funding round, The Information reports citing sources.

The estimates are based on the explosive growth in trading volumes on the platform. In particular, at the end of August, they exceeded $3 billion.

According to DappRadar, over the course of history, the indicator has surpassed the $11 billion level.

In July, the NFT marketplace has a valuation of $1.5 billion.

In November, daily sales on OpenSea doubled due to a surge in interest in the Bored Ape Yacht Club.

OpenSea has previously fired an employee convicted of insider trading. However, the company CEO Devin Finzer refused to give such an interpretation of his actions.