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OpenSea Receives Investment Offer Worth $10 Billion In Valuation

OpenSea is the leading marketplace for non-fungible tokens (NFTs). Currently, it receives investment offer from potential backers at a valuation of $10 billion or more. Of course, this is according to a report by The Information.

Furthermore, The report nites people familiar with the matter and says that OpenSea did not initiate the fundraising talks.

More so, OpenSea is yet to give out any information as regards this at the moment.

Notably, OpenSea in July raises money when it nets $100 million in a Series A round by a16z.

Additionally, That raise provides it a valuation of $1.5 billion, signifying an increase in vakue. Of course, in the eyes of some investors at least, recording over six times in just a few months.

Then, OpenSea registers NFT trading volumes like never before. Meanwhile, the volumes in the marketplace in August tops $3 billion. Which, of course is over ten times its previous high watermark.

Also, Volumes is seeing some declines in some months now, however maintaining an upward state of $2 billion each month.

Lastly, OpenSea emerges in September, saying the head of product Nate Chastain is using inside information to purchase items in NFT collections. That’s, prior to its featuring on the platform’s homepage.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.