Leading NFT Marketplace Opensea Surpasses $10 Billion in All-Time Sales

This weekend, the non-fungible token (NFT) marketplace Opensea surpassed $10 billion in all-time sales. Statistics show that 629,867 traders contributed to the $10 billion in sales and the average sale price since the NFT market’s launch is $872 per NFT.

NFTs have become very popular in 2021 and the trend continues toward the end of the year. Just recently, Bitcoin.com News covered the NFT industry and market action data compiled by nonfungible.com. The report had shown 2021’s third quarter broke records surpassing the NFT metrics recorded in Q1 and Q2. Now the leading NFT marketplace Opensea has reached a record milestone surpassing $10 billion in all-time NFT sales.

Opensea is the largest NFT market in terms of all-time settlement and the second largest NFT project is Axie Infinity. Axie Infinity has seen $2.99 billion in all-time sales and recently launched an NFT marketplace. Axie Infinity sales is 29.90% of Opensea’s all-time sales and the NFT game built on Ethereum has seen 1,031,704 traders.

Opensea’s $10 billion in sales follows the company’s $100 million capital raise at the end of July. The venture capital firm Andreessen Horowitz led the Series B round and investors such as Kevin Durant, Ashton Kutcher, and Tobi Lutke participated as well. The capital raise also propelled Opensea into the unicorn company category as well.

Following the funding, however, Opensea’s management dismissed an employee after the crypto community accused the employee of insider trading. Four days later, the Opensea marketplace launched its smartphone application so users can access the NFT market using their mobile phones.

In addition to Opensea’s Ethereum network support, the NFT marketplace also leverages Polygon as well. The monthly Opensea volume on Ethereum has been decreasing month over month since August. While August was an all-time high for Polygon-based Opensea transactions, the last two months have remained steady. The highest number of monthly active traders using Polygon-based Opensea transactions is September, according to Dune Analytics stats.

While Opensea has seen $10.25 billion settled, the average price on Opensea throughout its lifetime operating is $872 per NFT, according to dappradar.com metrics. At the time of writing, Opensea’s top 500 traders according to Dune Analytics, trade the Art Blocks collection the most, which is followed by the Bored Ape Yacht Club (BAYC). Art Blocks and BAYC is followed by Cool Cats, Bored Ape Kennel Club (BAKC), and Cryptotoadz.

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