NFT token trading

The value of OpenSea, the largest non-fungible token (NFT) trading platform, has reached the $13.3 billion mark, with investors putting up $300 million in its latest round of fundraising, co-founder Devin Finzer wrote in a blog post.

"In 2021, we saw the world embrace the idea that NFTs represent the basic building block of the new P2P economies. They give users greater freedom and engagement with digital goods, and developers to build powerful, interoperable applications that give users real economic value and benefit," he said.

Finzer said that the amount of transactions on the site has increased 600 times in the past year, so the company intends to use the funds to increase its staff, improve support and user security, as well as to develop new products.

According to Dune Analytics, total trading volume on the marketplace was about $3.5 billion last December, beating the company's previous record of $3.42 billion set in August 2021.

A non-interchangeable token is a digital certificate based on blockchain technology that confirms ownership of a virtual asset. NFT is unique and cannot be forged or replaced with another. NFT technology was created in 2017. More than 5 million tokens have been sold since its inception. OpenSea is a trading platform for non-interchangeable token. It was founded on 20 December 2017 by Devin Finzer and Alex Atallah. OpenSea is headquartered in New York City.