How one of the biggest NFT Marketplaces making its own history in the Digital Market space?

OpenSea has raised $300 million in a Series C round of funding, which has made the NFT market worth a whopping $13.3 billion.

According to a blog post, the company says that it plans to use this money to speed up product development and improve customer support as well as safety on the platform. It also plans to “significantly invest in the wider NFT and Web3 ecosystem.”

Devin Finzer, the co-founder and CEO of OpenSea, says that the year 2021 was a big change for non-fungible tokens. Users gained “more independence and ownership over digital products,” he says. This is what happened.

It’s his goal for his group to become the “world’s friendliest and most trustworthy NFT marketplace with the best selection.”

Finzer took advantage of the resignation of Nate Chastain as head of product, which came about because of an insider trading scandal. Shiva Rajaraman was hired as vice president of product. He has worked at Meta, YouTube, Spotify, WeWork, and a lot of other places in the past, as well.

Finzer also said that by the end of the year, OpenSea wants to double its customer service and trust and safety teams, which now have more than 60 people. He said that he plans to hire a lot of people in other places, too: “It was a big year for the NFT ecosystem, with OpenSea’s transaction volume expected to grow more than 600x by 2021, the company says. Our company has only been going for a short time, so we still need to add to our team quickly.”

The last 12 months have seen a lot of growth for OpenSea. NFTs, on the other hand, have made a lot of progress in the mainstream, so it will have a lot more competition in the next year.

Coinbase wants to make its own NFT market, as well as big entertainment companies like ViacomCBS.

 

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