OpenSea Sees Over 800% Growth in NFT Sales, Blows Past $3 Billion in August 2021

OpenSea, one of the leading NFT marketplaces, has hit $3.08 billion in trading volume for the month of August 2021, according to the latest stats. This represents an increase by over 800% compared to July 2021 volumes.

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OpenSea, one of the leading NFT marketplaces, has hit $3.08 billion in trading volume for the month of August 2021, according to the latest stats.

This represents an increase by over 800% compared to July 2021 volumes.

The volume was boosted by the launch of Mutant Apes collection by the Bored Ape Yacht Club NFT project.

In a public sale, 10,000 Mutant Apes at 3 ETH or $10,000 each were sold in 1 hour raising $96 million.

As part of the launch, there was an airdrop of mutant serums to all existing Bored Ape holders allowing them to mint mutant versions of their apes for free.

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SEE ALSO: OpenSea, One of the Largest NFT Marketplaces, Raises $100 Million and Moves to Support Polygon Layer 2

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Secondary sales of the Mutant Apes, claimed either for free by the holders or bought for 3 ETH in the public sale, now sell for a minimum of 7 ETH ($22,400) each.

According to its website, Bored Ape Yacht Club is a collection of 10,000 Bored Ape NFTs – unique digital collectibles living on the Ethereum blockchain. Each Bored Ape is unique and programmatically generated from over 170 possible traits, including expression, headwear, clothing, and more.

All apes are dope, but some are rarer than others.

In just 3 days, the Mutant Ape Yacht Club became the 7th most traded NFT collection with all time sales of $172,629,404, according to NFT project tracker, CryptoSlam.

Following the launch, daily trading volume on Opensea hit $322 million, an all-time high.

That day’s trading volume outstripped 2020’s total sales volume of $21 million by 15x.

Bored Apes could be minted for 0.08 ETH at launch, or about $200. Now, the cheapest Apes cost approximately $80,000 at the time of writing.

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RECOMMENDED READING: NFT Marketplaces are Booming: 5 Reasons Why NFTs Seem Exciting and Keep Growing Strong

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