OpenSea surpassed $10 billion in total trading volume a few months ago [1]

Their valuation is essentially equivalent to their total trading volume at this point. Both are absurdly large numbers.

What's really wild, though, is how hard NFTs have been pushed as decentralized, democratized, and so on. Yet again we have a huge centralized company cleanup up in the space and, apparently, skimming enough money off of the top of the trades to warrant a $13 billion valuation.

[1] https://decrypt.co/85507/nft-marketplace-opensea-hits-10b-to...