Opensea, a non-fungible token (NFT) marketplace, reached $10 billion in total sales this weekend. According to statistics, 629,867 traders participated in the $10 billion in sales, with an average sale price of $872 per NFT since the market’s inception.
Opensea Breaks $10 Billion in Sales All-Time
In 2021, NFTs were extremely popular, and the trend is expected to continue until the end of the year. According to the research, the third quarter of 2021 set new records, outperforming the NFT indicators from the first and second quarters. Now, Opensea, the top NFT marketplace, has surpassed a new milestone, breaking $10 billion in total NFT sales.
Opensea is the largest NFT market in terms of the all-time settlement, while Axie Infinity is the second-largest NFT project. Axie Infinity has a total sales volume of $2.99 billion and has recently opened an NFT marketplace. The NFT game built on Ethereum has seen 1,031,704 traders, accounting for 29.90 percent of Opensea’s total revenues.
The $10 billion in sales follow a $100 million capital round by Opensea at the end of July. Kevin Durant, Ashton Kutcher, and Tobi Lutke were among the investors in the Series B round, led by venture capital company Andreessen Horowitz. Opensea was also driven into the unicorn company category as a result of the capital raising.
Following the fundraising, however, Opensea’s management fired an employee suspected of insider trading by the crypto community. The Opensea marketplace debuted its smartphone application four days later, allowing customers to access the NFT market via their smartphones.
Top Traders Collect Art Blocks, BAYC Increases Polygon-Based Opensea Action
The NFT marketplace makes use of Polygon in addition to Opensea’s Ethereum network support. Since August, the monthly Opensea volume on Ethereum has been declining month over month. While August saw a record number of Polygon-based Opensea transactions, the previous two months have been rather stable. According to Dune Analytics statistics, September has the largest monthly active traders using Polygon-based Opensea transactions.
According to dappradar.com stats, Opensea has received $10.25 billion in settlements, with an average price of $872 per NFT during its operation. According to Dune Analytics, the Art Blocks collection is traded the most by Opensea’s top 500 traders at the time of writing, followed by the Bored Ape Yacht Club (BAYC). Cool Cats, Bored Ape Kennel Club (BAKC), and Cryptotoadz follow Art Blocks and BAYC.