The latest crypto unicorn is OpenSea, one of the largest digital art markets to profit on the non-fungible token (NFT) explosion in 2021.
Users may easily link their crypto wallets to quickly purchase or sell their NFTs for sale on OpenSea’s marketplace.
With the additional funding, Open Sea aims to invest in its next phase of ecosystem expansion, which will include cross-blockchain support and the creation of an open data economy.
OpenSea’s marketplace now accepts a variety of blockchains, including Polygon and Ethereum, and will soon add Flow and Tezos. The company’s wider ambition to move consumers closer to Web3 includes investing in the interoperability and scalability of OpenSea’s cross-chain marketplace.
Open protocols like Ethereum and compatible standards like ERC721 and ERC1155 will enable flourishing new economies, according to their vision. They’re creating technologies that let customers freely exchange their assets, producers launch new digital works, and developers create rich, integrated markets for their digital assets.
The first open marketplace for any non-fungible commodity on the Ethereum blockchain was established with the introduction of the OpenSea beta in December 2017.
Unlike earlier digital things, which were stored on business servers, blockchain-native items were stored on public, shared blockchains that were owned by no one entity. They could be watched from anywhere, shared freely, and fully owned in a way that the digital world had never seen before.
OpenSea is the world’s largest general marketplace for user-owned digital products, supporting several blockchains and offering the most categories and best pricing for new asset classes.
OpenSea is excited to be at the forefront of this rapidly evolving sector and will continue to invest in their core infrastructure as they work to create the most accessible marketplace for consumers, sellers, and artists.