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NFT marketplace OpenSea raises $23 million in Series A round led by a16z

NFT marketplace OpenSea has raised $23 million in a Series A round led by venture capital firm a16z, the platform announced Thursday. 

The funding round included participation from a wide range of VC firms, investors and creators including Naval Ravikant, Mark Cuban, and 3LAU.

The announcement comes a week after The Block reported a16z is leading two fundraises in the crypto space for OpenSea as well as trading tech firm Talos. A16z has invested in a way array of crypto firms in its portfolio, dating back to an early stake in crypto exchange unicorn Coinbase.

“The world is waking up to the power of this technology, and it’s happening quite suddenly,” co-founder and CEO Devin Finzer wrote in a blog post. “Over the coming years, billions of people will be introduced to digital ownership, and we’ve built OpenSea as a trusted entrypoint into that world.”

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