OpenSea plans a $10 billion valuation following a funding round, reports say.

The OpenSea non-fungible token (NFT) marketplace expects to receive a $10 billion valuation following a new funding round. The Information reports, citing sources.

The valuations are based on the explosive growth in trading volumes on the platform. By August they surpassed $3 billion.

According to DappRadar, over its history the metric has surpassed the $11 billion mark.

In July, the NFT marketplace was valued at $1.5 billion.

In November, daily sales on OpenSea doubled due to a surge in interest in Bored Ape Yacht Club.

Earlier OpenSea fired an employee implicated in insider trading. However, CEO Devin Finzer refused to attribute his actions in that way.

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