We’ve only been in the new year for a few days, and OpenSea is proving to be NFT’s open sea.
On the second day of 2022, the NFT marketplace, which features some of the biggest blockchain-based collectibles from Bored Apes to CryptoPunks, announced $243 million in sales. The figure went up significantly during new year’s eve. The company made $170 million on January 1 and $124 million on December 31.
Opensea Sales Increased 646x In 2021, Cruises Into 2022
OpenSea ended 2021 with a total trading volume of nearly $14 billion. According to data from Token Terminal, the top NFT marketplace witnessed a volume of $21.7 million in 2020, implying that trading surged by a factor of 646 last year.
OpenSea daily cumulative transaction vol. Source: Token Terminal
OpenSea left its competitors in the dust. According to data from DappRadar, the next largest platform, Rarible, handled $260 million in transactions in 2021.
Only a few niche collectors were aware of the possibilities of NFTs this time last year. OpenSea is now just one of several companies that have tapped into the rapidly expanding market. OpenSea accounted for more than $60 billion ($14 billion) of the $20 billion in NFT revenues recorded in 2021.
Statistics from Dune Analytics, a free blockchain data analytics platform, shows that OpenSea’s daily trade volumes have exceeded $200 million for six of the ten days so far in 2022. In 2022, OpenSea is on the verge of surpassing $2 billion in traded NFTs. Since the beginning of 2022, they have generated over $1.9 billion in trade activity.
ETH/USD plunges further...