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OpenSea

NFT/Web3 marketplaceUSA
✂️ Markdown
Peak $13.3 BillionToday
~-90%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $13.3 Billion ’22
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$1.33B
Current status
~$0.8-1.4B fund marks

How it happened

OpenSea was the leading NFT marketplace, reaching a ~$13.3B valuation in early 2022 during the Web3 and NFT boom. The subsequent crash in NFT trading volumes and broader crypto downturn slashed its activity. Investors marked the company down sharply, with Coatue cutting its valuation about 90% and Tiger Global roughly 94%, leaving fund marks of around $0.8-1.4B.

Source: The Information (Coatue -90%); Tiger -94%