OpenSea’s ecosystem investments

We’re at the beginning of a brand new internet: NFTs are the consumer entry point to crypto and represent the basic building blocks for the peer-to-peer economies of the future. Our long-term vision is to empower creators and communities of all kinds to achieve economic independence in a new digital economy. While empowerment comes in many forms, we believe that deeper connections and collaboration among the NFT community is crucial.

So today, we’re excited to announce two new community investment programs – Ecosystem Grants and OpenSea Ventures – aimed at supporting the creators, teams, and emerging technologies advancing the global growth of web3 and NFTs.

Introducing OpenSea Ventures

Launched today, OpenSea Ventures is our brand new investment arm supporting the next generation of founders building protocols, companies, teams, and ideas that will power the future of open web3 economies. Led by OpenSea co-founder Alex Atallah, OpenSea Ventures will help the most promising developers and creators realize their visions to grow Web3 through NFTs, decentralized systems, and other novel blockchain uses. OpenSea Ventures will invest across the web3 ecosystem but focus investments across four main themes:

  • The continued shift to a multichain world, both for fungible and non-fungible items
  • Creating and supporting NFT-related protocols
  • Social and gaming projects serving as distribution mechanisms for crypto and NFT elements
  • The emergence of NFT aggregators and analytics supporting activity on OpenSea and other NFT marketplace platforms

As the world’s leading peer-to-peer marketplace for NFTs, we’re excited to back builders who share our vision for the role of NFTs in web3 adoption, and who align with our core operating principles of trust, inclusivity, and choice.

Benefits for portfolio companies

In an effort to advance the future of NFTs, OpenSea Ventures will offer strategic capital, backed by resources and connections across our global partners. Specifically, teams will have:

  • Direct access to OpenSea leadership
  • Access to OpenSea’s most helpful strategic and venture partners, including a16z, Paradigm, Standard Crypto, Animoca Brands, Electric Capital, Alchemy Ventures, A* Capital (Kevin Hartz), 1confirmation, Katie Haun, 3LAU, and more
  • Assistance with NFT security and improving NFT standards, and integration with docs.opensea.io, where appropriate
  • Guest blog posts on opensea.io/blog, where appropriate
  • Connections with leading NFT creators and OpenSea Ecosystem Grant recipients 

We hope that OpenSea Ventures will provide Web3 developers and NFT creators around the world with the resources they need to build new decentralized economies that give creators, developers, and consumers greater freedom and ownership.

…and our ecosystem grants program!

Also introduced today, we’re thrilled to share our new Ecosystem Grants program: aimed at elevating creators, developers, and passionate community members working to enrich and expand the NFT ecosystem. 

We see Ecosystem Grants as a way to kickstart community ideas and provide ongoing financial support to initiatives that we believe have the potential to expand web3 and the NFT universe. In the spirit of our company mission, we look forward to allocating grants across three main categories, which we plan to broaden as we receive community feedback: 

  • Usability and tooling: Improving the user experience of buying, selling and transferring NFTs, as well as tooling that empowers and unlocks creativity for NFT creators.
  • Community Education: Resources and support to onboard and educate new users to make NFTs and web3 more approachable.
  • Accessibility and inclusivity: Creating a space where all individuals have access to the opportunity and promise of NFTs.

Given the range and diversity of eligible projects, funding amounts will vary. We will review and distribute Grants through a rolling selection process, considering project scope and relevance, potential impact, team composition, long-term sustainability, and speed (we’re looking for projects that can be initially executed within at least 2 quarters of receiving the grant). Our ambition is to make the review process as transparent and interactive as possible: we’ll start the program by selecting our review committee, refining our funding criteria, then we’ll introduce opportunities to engage with the committee, meet OpenSea grantees, and shape future categories and challenges.

We’re building toward a future in which creators and communities are empowered to achieve economic independence in a new digital economy. We’re excited to introduce OpenSea Ventures and Ecosystem Grants programs to help us forge deeper, more collaborative relationships with the community of Web3 and NFT builders.

This space moves quickly, and so will we. More to come here soon! In the meantime, if you’re a builder, founder, or creator focused on advancing the NFT and Web3 space, we’d love to meet you. For more information about OpenSea Ventures, click here. To get involved with Ecosystem Grants, apply here.

We look forward to helping advance the NFT ecosystem and building alongside talented community members who share similar dreams.


Author

  • Alex is the co-founder of OpenSea, the first and largest marketplace for non-fungible tokens (NFTs). https://twitter.com/xanderatallah