The Information has reported that, according to sources close to the matter, investments on the table for OpenSea’s new funding round would establish its valuation at $10 billion.
The OpenSea NFT marketplace has enjoyed quite a year in 2021 with its trading volume surpassing $200 million in late August – as a comparison, in December 2020, that number stood at below $10,000, according to information from DappRadar.
After noticing those trading volumes, it seems that investors were quick to get involved with the startup and began the investment process, according to The Information report from yesterday.
In July, OpenSea closed a $100 million Series B which increased its valuation to $1.5 billion with the venture capital firm a16z of Andreessen Horowitz leading the round. VC was the lead for a Series A that took place in March.
In September, there were accusations that the startup used insider trading, which ended with Nate Chastain, the head of product, resigning.