In a company blog post, leading non-fungible token (NFT) marketplace OpenSea announced the launch of an investment arm.
The firm that raised $300 million in January good for company valuation of $13.3 billion said that OpenSea ventures is dedicated to growing the Web 3 ecosystem “through NFTs, decentralized systems and other novel blockchain uses”. Investments will focus on four main areas, the statement reads:
The venture fund will be headed by OpenSea co-founder Alex Attalah. Some of the benefits for portfolio companies will be access to the company’s strategic partners, including Andreessen Horowitz (a16z), Standard Crypto, Animoca Brands and Kevin Hartz’s A* Capital.
“Aimed at elevating creators, developers, and passionate community members working to enrich and expand the NFT ecosystem,” OpenSea is also launching Ecosystems Grants.
Grants will be provided across three main categories: