Popular NFT marketplace platform OpenSea plans to launch an investment arm after raising $300 million at a $13.3 billion valuation in January.
OpenSea Ventures is committed to growing the Web 3 ecosystem "through NFTs, decentralized systems, and other novel blockchain uses," the company said in a blog post.
In addition to its venture capital business, OpenSea also launched Ecosystem Grants "designed to help creators, developers and passionate community members working to enrich and expand the NFT ecosystem".
The venture fund will be led by OpenSea co-founder Alex Attalah. A key selling point for potential portfolio companies will be access to the firm's strategic partners, including Andreessen Horowitz (a16z), Standard Crypto, Animoca Brands and Kevin Hartz's A* Capital.
OpenSea set a new monthly record with over $5 billion worth of NFTs traded on its platform in January.
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