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Quick Take

• Founded in 2017, OpenSea is a decentralized peer-to-peer marketplace for NFTs, covering a wide range of digital assets from art, game items to music
• OpenSea experienced explosive growth in 2021, with transaction volume increasing over 600.0x and $423 million cumulative funding raised in less than twelve months – OpenSea is currently valued at $13.3 billion
• Improving user experience has been a persisting issue for OpenSea, and the team plans to tackle this issue in 2022 by scaling the team, focusing on safety and reliability efforts, and accelerating the product development
• OpenSea seeks to contribute to the NFT and web3 ecosystem through its new investment efforts – OpenSea ventures and Ecosystem Grants program

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