Opensea’s All-Time NFT Sales Volume Crosses $20 Billion

Opensea"s All-Time NFT Sales Volume Crosses $20 Billion

Data indicates the non-fungible token (NFT) marketplace Opensea has crossed $20 billion in all-time sales. The leading NFT marketplace has seen more than 1.2 million traders leverage the platform since the market’s inception in 2017. 1.2 Million Opensea Traders and $20 Billion in Sales Volume

Metrics show that the NFT marketplace Opensea has surpassed $20 billion in all-time sales volume, according to dappradar.com. The NFT market was created five years ago by the entrepreneurs Devin Finzer and Alex Atallah.

Opensea allows users to sell NFTs at a fixed price and they can also leverage the auction method to sell their non-fungible tokens. When the market started in 2017, Ethereum was the blockchain of choice but recently Opensea has added support for the layer-two (L2) Polygon blockchain network.

Dune Analytics data shows that Opensea’s transaction count and USD volume has increased over the last 30 days. At the time of writing, dappradar.com metrics indicate 30-day sales have risen by 35.17%.

While Opensea is the leading NFT marketplace today, the new entrant Looksrare has been a competitor. Data shows that the NFT market Looksrare’s all-time volume is $14.68 billion, but Lookrare’s trade volume is considered contestable.

Looksrare’s sales figures have been adjusted on analytics web portals as the market has been reportedly “hit by washtrading.”

Opensea has a slew of competitors like Rarible, Magic Eden, Atomic Market, Superrare.co, Foundation, Digitaleyes Market, and more. However, Magic Eden, processing the highest number of sales out of the aforementioned NFT markets, has only seen $582.31 million in all-time sales.

Axie Infinity, on the other hand, has processed $4.08 billion in all-time sales, ranking the project third in terms of amount of NFT sales, behind Opensea and Looksrare.

Prior to the $20 billion in all-time sales, Opensea acquired Dharma Labs and in January the company raised $300 million, propelling the firm’s valuation to $13.3 billion. Tags in this story $20 Billion, $20 Billion Volume, 2017, Alex Atallah, All-time sales, Atomic Market, Capital raise, dappradar.com, Devin Finzer, Dharma Labs, Digitaleyes Market, Dune Analytics, foundation, looksrare, Magic Eden, Markets, nft, NFT Market, NFT marketplace, NFT Markets, NFT sales, Opensea, Opensea transactions, Rarible, sales, Sales Volume, Superrare.co, wash trading

What do you think about Opensea’s sales volume crossing the $20 billion mark? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Luxury Auction House Sotheby"s Plans to Auction 104 Cryptopunks Worth an Estimated $20M NEWS | 3 hours ago Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, as Russia Looks to Regulate Crypto NEWS | 9 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, as Russia Looks to Regulate Crypto Next articleAave Launches Web3, Smart Contracts-Based Social Media Platform Built on Polygon Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNansen Report Highlights Growth of Defi and NFTs in 2021

Nansen, a cryptocurrency and blockchain statistics and analytics platform, has issued a report on the growth of decentralized finance (defi) in 2021. The document highlights how defi managed to keep growing, opening the field to new participant chains. Non-fungible tokens ... read more.Vitalik Buterin to Use $100 Million From Crypto Relief"s SHIB Funds to Accelerate Covid Relief Efforts Central Bank Governor Says Kenya"s Position on Cryptocurrencies Has Not Changed Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees Study: US Financial Advisors Expect Proportion of Crypto Holding Clients to Increase by 60%