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OpenSy raised 100 100 million, valued at 16 1.5 billion, from A16Z to scale its Open Nonfingible Tokens (NFT) marketplace.

New York-based OpenCay said it has become the largest digital marketplace for crypto collectors and NFTs. It sells NFTs, uniquely identifiable digital items that can be authenticated by the transparent and secure digital account aggregator blockchain behind cryptocurrencies.

Anderson Horowitz, also known as A16Z, led another round of institutional funding, in which angel investors were joined by CAA co-founder Michael Ovitz and actor-investor Ashton Kutcher. The amount of funds means Open with a valuation of S billion dollars. More often than not, Open Pansy is a unicorn or startup. It is one of 900 unicorns worth tr 3 trillion accumulated.

With this capital, OpenPansy will continue to scale its NFT platform, focusing on expanding engineering talent, expanding to new markets and audiences internationally, and creating more ways for users to easily access, buy and sell digital assets.

“We’re experiencing the biggest fundamental change we’ve seen in the Internet economy in decades, and now he’s been leading it for a while. Experience and entry point for NFT.

Fundraiser is around widespread adoption in the NFT, Finzer said. “And he’s talking about expanding the platform we’ve built, which has seen significant volume growth over the last six months of the year. We think NFTs are really incredibly exciting once in a decade-long pattern shift. “

Catherine Hoon, general partner of Anderson Horowitz, said in a statement that the OpenC team quickly realized the need for a cross-blockchain marketplace where anyone can buy, sell and create digital NFTs.

The new injection of funding has come as OpenCA NFT is expanding into a more mainstream audience, and is introducing a whole new economy based on digital ownership. Today, Openness is the largest marketplace for NFT, representing gaming items, digital art and collectibles, event tickets, domain names and millions of other assets backed by Blue Millions Kitchen.

Expansion into a gas free polygon

Above: OpenCA wants to make NFT mainstream.

Image Credit: OpenSea

Previously, OpenCA was restricted to Ethereum, a popular cryptocurrency platform that has been criticized for using too much computing power and wasting time. It is now adding transactions to the Polygon platform, enabling transactions with no large transaction fees related to the use of computing.

Today, the company announced that all Ethereum gas fees (associated with computing costs for placing NFT on blockchain) for creators, buyers and sellers on the Openness Marketplace have been eliminated. These are the kind of steps that OpenCy has to take to make the blockchain for mainstream less exclusive and more delicious.

“We are now the first cross-blockchain NFT marketplace,” Finzer said. “We support our polygon integration, which is Ethereum’s Layer 2 platform. It enables zero transaction costs for manufacturers, buyers and sellers. And we look forward to new blockchain integrations in the future. “

Over time, the company wants to reduce the cost of transactions on the platform (as it has done with the addition of polygons), enabling people to use the payment method they have, and then educating the market about NFT. Users can use any crypto wallet they want with OpenCA.

“We’re making the product more accessible by building the type of onboarding in the mainstream market and really strengthening Openness as a brand directly tied to NFT, very similar to how Sicnabase established itself as a brand around cryptocurrency,” Finzer said. .

Market waves

Above: OpenC has raised 100 million on a valuation of 1.5 million.

Image Credit: OpenSea

In June 2021 alone, OpenC sold સંપ 160 million in digital assets on its NFT marketplace, and sales of 8 8 million in January boosted volume growth 45 times in the first half of 2021.

High-growth collectible avatar projects, such as Hashmask, Boring AP Yacht Club, and Mibits, which combine art, blockchain tech, and social clubs, also took off in 2021.

“The surprising thing about NFTS is that the use case is not just purely financial or purely speculative,” Finzer said. “People from a variety of industries have started to be curious. It is true that many of these are early adopters. But it’s really expanding beyond people who are really interested in trading stocks or those of you who are, more interested in creative work. “

NFT has exploded in programs such as art, sports collections and music. The NBA Top Shot (digital tech on stored basketball cards) is an example. Produced by Dapper Labs, the NBA Top Shot has surpassed 700 700 million in sales, seven months after it went public. And artist Beeple’s NFT digital collage has sold to Christie’s for 69 69.3 million. Gaming has some new Unicorn or startups in the Animoka brands and Forte, valued at billion 1 billion. The NFT now sells at 62 62 million a week, although the initial hype surrounding the NFTs is dropping from a peak in May to 17 175 million a week, according to Nonfungible.com.

“There runs a bubble mechanic. But now you have noticed that we are seeing more sustainable growth in terms of the market, ”Finzer said. “Openasia is performing particularly well in this environment.”

Multifaceted market

XC Infinity

Above: XC Infinity

Image Credit: XC Infinity

Openness offers both markets and platforms where users can easily connect their cryptocurrencies to their NFT listings for instant purchase or sale.

With the injection of new capital, the company plans to invest in its next phase of ecosystem growth with cross-blockchain support, which will enable the open data economy.

“We think this is an opportunity for people who were probably curious about crypto and blockchain but didn’t really feel like there was a platform with real utility that could take this beyond financial speculation,” Finzer said. “We think NFT and OpenCA are, in fact, in a very good position to drive the next wave of blockchain adoption.”

Openness’s Marketplace currently supports multiple blockchains, such as Polygon and Etherium, and will announce support for Flow and Tezos in the near future. Investing in the inter-functionality and scalability of Open Pansy’s cross-chain marketplace to bring users closer to Web 3 is part of the company’s broader vision. Users can pay with statcoins such as USDC, but they cannot yet pay with US dollars.

Opency launched in 2017, announcing a round of 2 2 million a few months later from the Founders Fund with industry-leading crypto companies. In March 2021, the company announced a 16 23 million institutional round led by A16Z, involving existing investors and angels, including Ron Conway, Mark Cuban, Belinda Johnson, Naval Ravikant, Ben Silberman and more. The company is hiring engineers and other staff.

Games like X-Infinity, The Sandbox, F1, and Crypto Voxels are closing with NFT sales, Finzer said.

“We are really excited about NFT introducing a shift in technology where most of the consumer tech is dominated by some big companies,” Finzer said. “We feel that the NFT Bringing the Renaissance, where creators, collectors, developers, and all sorts of projects will emerge, is very similar to the shift of patterns where the birth of the Internet really brought thousands of new early apps and ultimately, millions of people, changing their lives massively. “

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