The news articles suggest that OpenSea, the world's largest NFT marketplace, has seen a significant drop in its valuation. Coatue Management, one of its major backers, has devalued its holdings in OpenSea by nearly 90%, resulting in a decrease in investment from $120 million to $13 million. This markdown reflects a downturn in the market and indicates a decrease in investor confidence in the platform.

OpenSea, the digital marketplace for NFTs, has expanded its presence by launching the Pro version on the Polygon sidechain. This move aims to promote cross-chain asset trades between Ethereum and Polygon, enhancing interoperability within the Web3 ecosystem. OpenSea Pro now allows users to seamlessly navigate both Ethereum and Polygon blockchains, making it easier for NFT enthusiasts to participate in the multichain experience.

NFT marketplace OpenSea, valued at $13.3 billion in 2022, has laid off about half of its staff as it focuses on improving its platform with "OpenSea 2.0." This downsizing comes after a tough period for the crypto industry and aims to enhance technology and user experience.

Blockaid, a web3 security startup founded by former Israeli military cyber intelligence personnel, has raised $33 million in funding. With customers like MetaMask and OpenSea, Blockaid aims to enhance Web3 wallet security and make the space safer for average users. The company plans to use the funding to scale its product, customer base, and team to address the industry's security challenges.

China Daily is planning to connect its digital collectibles platform with popular platforms like Opensea and LooksRare.

The sentiment of the news articles is generally positive towards OpenSea's new platform. It is seen as a helpful tool for creators in the NFT market, allowing them to focus on their creative work and simplifying administrative tasks. It is also perceived as a potential solution to revitalize the declining NFT market.

OpenSea, the popular NFT marketplace, has issued warnings to its API users regarding a potential security breach that may have been caused by an unidentified third-party vendor. This incident has raised concerns about user account abuse and has prompted urgent notifications to platform users. The breach may be connected to a recent security incident disclosed by another company.

Recent news articles suggest a negative sentiment towards the Stoner Cats NFT project. OpenSea, Rarible, and Blur have all blocked trades for the collection, and the project has been removed from major NFT marketplaces. These actions are believed to be in response to a recent announcement by the US Securities and Exchange Commission (SEC).

The former OpenSea manager, Nathaniel Chastain, has been sentenced to three months in prison for insider trading involving NFTs.

Mark Cuban, an investor in OpenSea, expressed disappointment in the platform's decision, leading creators to consider boycotts and restrictions.

OpenSea Overview

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At OpenSea, we're excited about a brand new type of digital good called a non-fungible token, or NFT. NFTs have exciting new properties: they’re unique, provably scarce, tradeable, and usable across multiple applications. Just like physical goods, you can do whatever you want with them! You could throw them in the trash, gift them to a friend across the world, or go sell them on an open marketplace. But unlike physical goods, they're armed with all the programmability of digital goods.

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Year Founded: 2017

HQ Location: SoHo, New York, NY, USA

HQ Timezone: America/New_York

Alexa US Rank: 316

Alexa Global Rank: 322

Total Employees: 270

Total $ Raised: 427,200,000

Estimated Annual Revenue: $10M-$50M