OpenSea Company Intelligence

April 18, 2022, 3:52PM EDT

• 19 min read

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Quick Take

  • Founded in 2017, OpenSea is a decentralized peer-to-peer marketplace for NFTs, covering a wide range of digital assets from art, game items to music
  • OpenSea experienced explosive growth in 2021, with transaction volume increasing over 600.0x and $423 million cumulative funding raised in less than twelve months – OpenSea is currently valued at $13.3 billion
  • Improving user experience has been a persisting issue for OpenSea, and the team plans to tackle this issue in 2022 by scaling the team, focusing on safety and reliability efforts, and accelerating the product development
  • OpenSea seeks to contribute to the NFT and web3 ecosystem through its new investment efforts – OpenSea ventures and Ecosystem Grants program
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