OpenSea, an online marketplace that facilitates NFTs trading, is valued at $13.3 billion, after an investment of $300 million in the platform.<\/p>\n\n\n\n
Speaking on the new funding, OpenSea said it would “look to bring NFTs to a broad consumer audience this year,” and reduce their “barriers to entry.”<\/p>\n\n\n\n
OpenSea’s valuation comes at a time when companies, sports clubs and celebrities are getting into the idea of producing or buying NFTs.<\/p>\n\n\n\n
Commenting on the progress made on NFTs in 2021, Devin Finzer, the company’s co-founder in 2017, wrote: “In 2021, we saw the world awaken to the idea that NFTs represent the basic building blocks for brand new peer-to-peer economies.”<\/p>\n\n\n\n
The market for NFTs is growing, and the total value of trade in NFTs will be $40.9 billion in 2021.<\/p>\n\n\n\n
For some critics, the increased valuation of some crypto businesses stems from a lack of places for investors to invest their money.<\/p>\n\n\n\n
“There’s far too much money sloshing around and far too few places to put it. Even the rich are buying lottery tickets,” noted author David Gerard.<\/p>\n\n\n