The “OpenSea” platform that offers the ability to buy and sell non-fungible tokens (NFT) continues to impress during the new year, especially with the increasing rates of adoption and circulation.
The giant NFT platform has reached a new milestone in the number of active users on the platform.
Data from Dune Analytics on Thursday, January 13, 2022, indicated that the OpenSea platform has now exceeded one million active wallets on the platform.
These numbers are the latest indication of the continued growth of the OpenSea platform in the early days of 2022 after a massive expansion last year.
Thursday’s news comes on the heels of reports that the platform has seen trading volume of over $2 billion since the start of 2022 which is in line with a new all-time high in terms of monthly trading activity.
Earlier in January 2022, OpenSea co-founder Devin Finzer announced that the platform had raised $300 million in a Series C funding round.
This led to OpenSea’s valuation of $13.3 billion, which is a significant jump from its $1.5 billion valuation in July 2021.
The onset of the storm in OpenSea into 2022 also aligns with the surge in NFT-related activity that marked the early days of the year, with demand for more popular NFT groups such as “CryptoPunks” and “Bored Ape Yacht Club” continuing to generate tremendous interest.
While OpenSea’s dominance remains unparalleled, OpenSea could enter some competition from startups like LooksRare as the latter launched an NFT trading marketplace with free distribution of its coins to users.
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