Leading NFT Marketplace Opensea Surpasses $10 Billion in All-Time Sales
In 2021, NFTs are expected to be very popular and this trend will continue into the new year. Bitcoin.com News recently covered the NFT industry, market action data compiled in part by nonfungible.com. The report showed that 2021’s third quarter surpassed the NFT metrics set in Q1 or Q2. Opensea, the world’s largest NFT marketplace, has now reached a milestone exceeding $10 billion in total NFT sales.
Opensea is the biggest NFT market by all-time settlement, while Axie Infinity is the second largest NFT project. Axie Infinity, which has $2.99 billion in annual sales, recently launched an NFT market. AxieInfinity’s sales represent 29.90% Opensea’s total sales. The NFT game built using Ethereum has been played by 1,031,704 traders.
Opensea’s $10billion in sales is following the company’s $100m capital raise at July’s end. Andreessen Horowitz, a venture capital firm, led the Series B round. Tobi Lutke and Ashton Kutcher were also involved. Opensea was also elevated to the top of the list for unicorn companies by its capital raise.
After the funding, Opensea’s management fired an employee, after the crypto community had accused the employee of insider trading. Opensea’s marketplace released its smartphone app four days later so that users could access the NFT markets using their smartphones.
Polygon-Based Opensea Activity Increases – Top Traders Collect Art Blocks BAYC
Opensea supports Ethereum networks, and the NFT market also uses Polygon. Since August, the monthly Opensea volume has been declining month over month on Ethereum. The August record for Polygon-based Opensea transactions was an all-time record, but the numbers have been steady in the past two months. According to Dune Analytics stats, September is the month with the highest monthly number of active traders using Polygon Opensea transactions.
Opensea has been settled for $10.25 billion, but the average Opensea price over its entire life is $872 per NFT according to dappradar.com metrics. According to Dune Analytics at the time of writing, Opensea’s top 500 traders trade the Art Blocks collection most. This is followed closely by the Bored Ape Yacht Club, (BAYC) Art Blocks and BAYC are followed by Cool Cats (BAKC), Bored Ape Kennel club (BAKC), Cryptotoadz.