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NFT auction marketplace OpenSea is now a Unicorn. The platform that witnessed massive traction earlier this year raised $100 million in a Series B round led by Andreessen Horowitz at $1.5 billion, as per a TechCrunch report. The startup, which raised $23 million in Series in March this year, witnessed investors such as Coatue, CAA, Michael Ovitz, Kevin Hartz, Kevin Durant, and Ashton Kutcher in the fresh round. As per the TechCrunch report, OpenSea saw $160 million in sales last month and is growing fast despite challenges. One of the company’s clearer growth roadblocks has been infrastruc...

Amy Castor looks at what is and isn't true in a recent report about the supposed crash of the NFT market in May 2021.

Alexi Rosenfeld/Getty Images) This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Blockchain enthusiasts have been finding clever ways to allow NFT enthusiasts to take advantage of the mania surrounding digital art. NFT indices have been gaining prominence on several exchanges in Canada and the UK. Crypto businesses underpinning the NFT craze are receiving sky high valuations, some well into the billions. The celebrity stardust sprinkled over the non-fungible token [NFT] world ha...

Why NFTs? Ayzenberg’s VP Of Digital Explains Imagine having a deed to a coveted work of art or a one-of-a-kind baseball card that can’t be forged, duplicated or lost because it exists in a permanent database. This kind of deed exists. It’s called an NFT, which stands for non-fungible token, and it’s creating a frenzy in the digital world. By definition, an NFT is a digital certificate of authenticity for a real or virtual object. This digital file is stored on a digital ledger, also known as a blockchain network, that certifies it to be unique and interchangeable. So, what’s all the...

Digital avatar startup Genies raises $65M from Bond, Dapper Labs and Coinbase SHARE A startup that lets people bring their own virtual selves to life, Genies Inc., today announced $65 million in funding to expand its virtual identity marketplace and digital swag. With this new capital, Genies seeks to build out its avatar technology and hook into the wave of interest in non-fungible tokens. NFTs allow people to use distributed ledger blockchain technology to own, buy, sell and trade digital artwork objects on marketplaces. To do this, the Genie avatar system will con...