OpenSea to support NFTs from Kakao’s blockchain network

TL;DR Breakdown

• OpenSea will support NFT contents issued on the Kakao blockchain network, Klaytn.
• This marks the second blockchain supported by the NFT marketplace, after Ethereum.

In an effort to promote the growing attention and participation in the globally non-fungible token (NFT) market, OpenSea, a leading NFT marketplace, announced it would be supporting the native blockchain network of Korea’s Kakao, Klaytn. This is reportedly the second blockchain network supported on the NFT marketplace, i.e., after Ethereum. Once the integration is completed, the digital contents on the Klaytn blockchain can then be accessed on the NFT marketplace. 

OpenSea to supports Ethereum and Klaytn-powered NFTs

The NFTs on the Klaytn blockchain ranges from digital arts and game items. The development today is expected to unlock a wider audience for Klaytn-powered NFTs, owing to OpenSea popularity and user base. To purchase NFTs using the KLAY token, users will have to connect and sync their OpenSea accounts with the web browser extension wallet of the Klaytn network dubbed “Kaikas wallet,” according to the announcement on Sunday.

We believe that supporting the Klaytn blockchain and its growing NFT community empowers the blockchain space that can invite even mainstream audiences to experience Klaytn’s unique digital items and goods.

Devin Finzer, the CEO at OpenSea, commented.

a16z invests in NFT marketplace

The NFT market is growing extensively, with millions of dollars traded every day for digital content that includes arts, music, gaming items, including articles. It’s no surprise that many investors are ready to support projects building on this rapidly-growing crypto market. 

On the 18th of March, OpenSea raised $23 million in a Series A funding round to scale its NFT marketplace, which already sees over 20 million digital contents listed for auction. The investment round was led by Andreessen Horowitz (a16z) and other prominent angel investors like Mark Cuban, Naval Ravikant, Tim Ferris, and many others.