OpenSea celebrates reaching a new trading volume


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The trading volume of non-fungible Peer-to-Peer (NFT) tokens on OpenSea has surpassed $10 billion in trading volumes ever.

Interestingly enough, this figure was “only” $1 billion in August of this year.

10 billion dollars and the number is increasing:

Non-fungible digital tokens have become very popular over the course of the year, especially during the second half of it.

After the great developments in the space, the “OpenSea” platform which is the dominant force in the world of NFT recently exceeded the level of 10 billion dollars in total trading volumes.

according to “DappRadarMore than 630,000 traders contributed to this achievement, while the average price of digital collectibles sold was approximately $872.

The success of the OpenSea platform is remarkable, as three months ago, its trading volumes were ten times less than $1 billion.

For comparison, the total volume for the whole of 2020 was just 21 million.

The results once again indicated that OpenSea is the most popular market for buying and selling non-fungible tokens (NFTs).

The second place belongs to “Axie Infinity,” with total trading volumes of just over $3 billion, while CryptoPunks comes in third with $1.59 billion.

The way to the top:

Before it began to dominate the NFT world, in March of this year, OpenSea completed a $23 million funding round led by venture capital firm Andreessen Horowitz, also known as a16z.

At the time, the company indicated that:

Given the importance of this consumer class in such a fast-growing region, it comes as no surprise that OpenSea’s growth has been off the charts, with transaction volumes growing 100-fold in the past six months.

Another development that intrigued the cryptocurrency space this year was the Bored Ape.

A collection of 10,000 unique digital images of monkeys has been shown on OpenSea with many NFT fans spending millions to get some of them.

In one transaction, a single boring monkey with serial number #3749 was sold for 400 ETH, or $1.3 million.

Last but not least, many celebrities, actors, singers, and athletes joined the NFT craze throughout the year.

The most recent example came from director Quentin Tarantino, where one of the biggest filmmakers announced that he would be selling seven non-fungible “secret” tokens featuring unreleased “Pulp Fiction” scenes on OpenSea.

The director said:

I am excited to present these exclusive scenes from “PULP FICTION” to fans.

NFT provides a whole new world of connecting fans and artists, and I’m glad to be a part of that.

Read also:

The company “CryptoCom” launches the main network “Cronos” to target “DeFi”, “NFT” and “Metaverse” users

This country may be the next to adopt cryptocurrencies as legal tender… Get to know it

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