Leading NFT Marketplace, OpenSea, Hits $1 Billion in Trading Volume in August 2021 So Far as Daily Trading Figures Shoot Up 12,000%

OpenSea, one of the leading NFT marketplaces, has hit $1 billion in trading volume for the month of August 2021 so far. Trading volumes on Opensea have blown up by more than 12, 000% in 2021 so far.

0
287
JOIN US ON TELEGRAM

OpenSea, one of the leading NFT marketplaces, has hit $1 billion in trading volume for the month of August 2021 so far.

Trading volumes on Opensea have blown up by more than 12, 000% in 2021 so far.

According to DappRadar, total volume as at time of writing stood at $69.75 million, compared to $73,556 on January 1, 2021.

Total userbase on the platform has also bumped by over 7, 200% from 315 at the start of the year to over 24,700.

At the start of that June 2021, daily trading volume in the marketplace was just $3.6 million but by August 15, 2021, it had surged above $71.328 million.

BY June 2021, Messari indicated that cumulative sales volume since the start of the year had exceeded $1 billion.

______________________________________________________________________

SEE ALSOOpenSea, One of the Largest NFT Marketplaces, Raises $100 Million and Moves to Support Polygon

______________________________________________________________________

In July 2021, OpenSea reached a total monthly volume of $325 million, and collected $22 million in monthly fees. 458k NFTs were sold on the marketplace, which was double the previous all time high.

By August 1, 2021, it achieved a record $39 million in daily trading volume.

The NFT boom has seen investors buy millions of dollars worth of unique digital collector items. This includes photos, memes, music albums, basketball highlights, collages, tweets and videos. In March 2021, Mike Winkelmann, known professionally as Beeple, sold a NFT for $70 million, igniting a flurry of digital collectible sales across marketplaces such as OpenSea and Rarible.

Play as you Earn platform Axie Infiinity which enables the sale, purchase, and breeding of digital pets (NFTs) had witnessed a record 6,500% revenue growth by the end of July 2021.

Moreover, Stoner Cats, an animated show about cannabis-smoking cats, sold its collection of NFTs for around $9 million.

Data platform, Dune Analytics, has shown that the total sales volume for NFTs increased to $2.5 billion in the first half of 2021 compared to $13.7 million in the first half of 2020.

Opensea’s average daily fee revenue in 2021 was $4.2 million. In June 2021, it posted a record $150 million in crypto collectible sales.

The NFT boom witnessed in the first and second quarter of 2021 saw about 60, 000 new wallets interacting with NFTs, according to the NFTs aggregate site, NonFungible.com.

The data tracking service noted that more than 45, 000 new wallets engaged with crypto collectible services in May and June 2021 alone.

Despite the dip in sales in April and early May 2021, the number of active NFT wallets increased from 3, 107 (January to February 2021) to 6,418 (March to April 2021).

This is a sign that a significant proportion of new users who became interested in NFTs at the very beginning of the 2021 hype then remained active over the following months.

Here is a quick rundown of the OpenSea platform stats:

  • Over $1 billion in August 2021 so far
  • Trading volumes up 12, 000% in 2021 so far
  • Total userbase on the platform up 7, 200% so far
  • Total monthly volume for July 2021 was $315 million
  • July 2021 monthly fees crossed $22 million

_______________________

NB: Join our Community (Ascendant) where we discuss crypto projects in their early phases.

___________________________________________________________________

RECOMMENDED READINGNFT Transaction Volumes are Up Over 25x in the First Half of 2021

___________________________________________________________________

Thank you for your support by helping us create content:

BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT

____________________________________________________________________

Follow us on Twitter for latest posts and updates

Join and interact with our Telegram community

_____________________

Subscribe to the channel below to keep updated on latest news on video:

______________________________________________________________________________