OpenSea, the leading NFT platform, has received offers from potential backers of the company at a valuation of $10 billion according to a report from The Information.
According to the report, OpenSea had been contacted first by the venture capitalists looking to invest.
After a previous $1.5 billion evalutation in July after a $100 million funding round, OpenSea has, in the eyes of the investors, had over a 600% gain in value within only a few months. With the recent NFT boom, these figures seem to match up.
In that time, record highs in NFT trading volume was achieved. With over $3 billion worth of trades were made in August alone, despite a gradual decrease in sales, upwards of $2 billion per month since August has held steady.
After a recent backlash when the then head of product Nate Robinson was found to have been using insider trading to purchase NFTs was thrown into public light, was consequently asked to resign soon after.
Bouncing back from some bad news, OpenSea has kept strong. Is this $10 billion evalutation fair or should the biggest NFT trading platform be worth much more?