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If true, the valuation of this popular NFT marketplace would be the very top of the crypto market

Crypto Slate | | Jan 5, 2022

OpenSea - If true, the valuation of this popular NFT marketplace would be the very top of the crypto market

OpenSea is reportedly eyeing a $13 billion valuation

NFT marketplace OpenSea is reportedly in talks for another funding round that would value the company at $13 billion.

According to Eric Newcomer, a former Bloomberg journalist and author of the Newcomer newsletter, the deal will be led by Coatue and include participation from Kathryn Haun’s new crypto fund.

NFT craze pushes OpenSea past the unicorn stage

One of the world’s largest NFT marketplaces is reportedly in talks for yet another raise that would put its valuation on par with industry giants such as Binance.

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Sources familiar with the matter have revealed that Coatue, a global investment manager, will be leading the funding round that will value the company at $13 billion. Dan Rose, the Chairman of Coatue Management, may also take a board observer seat at OpenSea following the raise.

Kathryn Haun, a former general partner at Andreessen Horowitz, will also be participating in the funding round. Haun left Andreessen Horowitz last month to start her own venture capital fund. During her time at the investment firm, she co-chaired all of the company’s crypto funds, which invested almost $3 billion in various cryptocurrency projects.

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Haun currently serves as the only board member at OpenSea aside from its two founders, Devin Finzer and Alex Atallah, and has led OpenSea’s Series A and Series B funding rounds while at Andreessen Horowitz. At the time, the funding rounds valued the company at $1.5 billion.

Neither OpenSea nor any of the mentioned VCs have commented on the rumors.

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