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OpenSea exceeds $10 Billion in all-time sales volumes By BTC Peers

by Mike Robinson

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OpenSea’s all-time sales exceed $10 Billion

OpenSea NFT Marketplace has hit a major milestone, surpassing $10 Billion in all-time revenue.

According to data from analytics platform DappRadar, OpenSea’s total sales volume is currently standing at $10.33 billion, miles ahead of its competitors.

It is a milestone for OpenSea, which is now the primary hub and breeding ground of NFT activity. Sometime last month, DappRadar released a report attesting to OpenSea’s growing popularity, suggesting that it was the most popular NFT marketplace by a wide margin.

While OpenSea’s average in terms of the individual asset price is not the highest, it boasts of the highest volumes. The average burn rate of OpenSea was 58.924 Ethers.

The analytics platform noted that over two-thirds of the total NFT volume is handled by the top three marketplaces – OpenSea, Rarible, and SuperRare.

Many investors have been attracted to OpenSea’s success and rapid growth of NFT markets. OpenSea just completed its $23 million Series A financing round, led by a16z in February 2021. This was before the current period. But, the company had experienced substantial growth in transaction volumes prior to that.

Since the beginning of 2021, OpenSea’s numbers have been on a steady increase. In August 2021 it recorded an average monthly trading volume exceeding $1.5 billion. The bulk of that trading volume was in the second half 2021.

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