is an American online non-fungible token marketplace headquartered in New York City.
OpenSea was founded by Devin Finzer and Alex Atallah in 2017
Company later received pre-seed funding from Y Combinator in 2018, followed by a $2.1 million seed round in 2019.
OpenSea offers a marketplace allowing for nft to be sold directly at a fixed price, or through an auction, based on the Ethereum ERC-721 standard
In 2021, following a heightened interest in non-fungible tokens, the company's revenue reached $95 million in February 2021 and $2.75 billion in September of that year.
In January 2022 OpenSea reimbursed users about $1.8 million after a user interface bug allowed users to buy more than $1 million worth of NFTs at a discount.
OpenSea raised $300 million in new venture capital (Paradigm and Coatue Management), valuing it at $13.3 billion.
OpenSea admitted that 80% of NFTs created with the tool where plagiarism or spam.
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