2021 was the year that NFTs broke out into the mainstream. Unfortunately, like in 2017 with CoinBase, OpenSea had a hard time keeping up with the demand of people wanting to trade NFTs.
That’s all about to change as OpenSea has just raised another $300m in Series C and is now valued at $13.3 Billion. However, as mentioned in the Messari Crypto Report, NFT infrastructure is underdeveloped similar to where Bitcoin was in 2013.
“We have four goals for this funding: 1) accelerate product development, 2) significantly improve customer support and customer safety, 3) meaningfully invest in the wider NFT and Web3 community, and 4) grow our team.”
This was much needed as their transaction volume increased 600x in 2021.