News Explorer — OpenSea Investor Tiger Global Cuts Firm's Valuation by 76%

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Apr 25, 3:35 pm

DL News

OpenSea Investor Tiger Global Cuts Firm's Valuation by 76%

OpenSea, a popular NFT marketplace, has seen its valuation drop from $13 billion to $3 billion, according to one of its biggest investors, Tiger Global. This is due to a decrease in NFT sales on its platform and competition from Blur, which offers lower commission fees and advanced trading features. OpenSea has responded by launching OpenSea Pro, a rebranded version of Gem NFT marketplace aggregator, with incentives for frequent users.

OpenSea, a popular NFT marketplace, has seen its valuation drop from $13 billion to $3 billion, according to one of its biggest investors, Tiger Global. This is due to a decrease in NFT sales on its platform and competition from Blur, which offers lower commission fees and advanced trading features. OpenSea has responded by launching OpenSea Pro, a rebranded version of Gem NFT marketplace aggregator, with incentives for frequent users.

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