Opensea’s All-Time NFT Sales Volume Crosses $20 Billion

Data signifies the non-fungible token (NFT) market Opensea has crossed $20 billion in all-time gross sales. The main NFT market has seen greater than 1.2 million merchants leverage the platform for the reason that market’s inception in 2017.

1.2 Million Opensea Traders and $20 Billion in Sales Volume

Metrics present that the NFT market Opensea has surpassed $20 billion in all-time gross sales quantity, in response to dappradar.com. The NFT market was created 5 years in the past by the entrepreneurs Devin Finzer and Alex Atallah.

Opensea permits customers to promote NFTs at a set worth and so they may leverage the public sale technique to promote their non-fungible tokens. When the market began in 2017, Ethereum was the blockchain of selection however just lately Opensea has added help for the layer-two (L2) Polygon blockchain community.

Dune Analytics data exhibits that Opensea’s transaction rely and USD quantity has elevated over the past 30 days. At the time of writing, dappradar.com metrics point out 30-day gross sales have risen by 35.17%.

While Opensea is the main NFT market immediately, the brand new entrant Looksrare has been a competitor. Data exhibits that the NFT market Looksrare’s all-time quantity is $14.68 billion, however Lookrare’s commerce quantity is taken into account contestable.

Looksrare’s gross sales figures have been adjusted on analytics web portals because the market has been reportedly “hit by washtrading.”

Opensea has a slew of rivals like Rarible, Magic Eden, Atomic Market, Superrare.co, Foundation, Digitaleyes Market, and extra. However, Magic Eden, processing the best variety of gross sales out of the aforementioned NFT markets, has solely seen $582.31 million in all-time gross sales.

Axie Infinity, alternatively, has processed $4.08 billion in all-time gross sales, rating the undertaking third when it comes to quantity of NFT gross sales, behind Opensea and Looksrare.

Prior to the $20 billion in all-time gross sales, Opensea acquired Dharma Labs and in January the corporate raised $300 million, propelling the agency’s valuation to $13.3 billion.

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