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OpenSea CEO Devin Finzer. Photo by OpenSea. Art by Mike Sullivan.

Why OpenSea’s $13 Billion Valuation Isn’t as High as it Seems

By  |  Jan. 5, 2022 4:53 PM PST
Photo: OpenSea CEO Devin Finzer. Photo by OpenSea. Art by Mike Sullivan.

OpenSea is opening 2022 with a mega deal, picking up where 2021 crypto funding left off. The marketplace for non-fungible tokens said Tuesday it raised new funding at a post-investment valuation of $13.3 billion. That’s significantly greater than the investment offers the startup was getting as of November and is more than eight times higher than in its last round, announced seven months ago. But the final number actually suggests investors still have concerns around NFTs.

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