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The NFT Marketplace, OpenSea Surpasses $1 Billion in Gross Market Volume

The NFT Marketplace, OpenSea Surpasses $1 Billion in Gross Market Volume
  • The NFT Marketplace, OpenSea surpassed $1 billion in gross market volume.
  • The co-founder and CEO of OpenSea, also tweeted about the platform daily transaction.

The largest NFT marketplace, OpenSea, surpassed $1 billion in gross market volume after a record few days.

A research analyst at Messari — the platform that provides the top research, news, metrics, and live data for crypto, first spotted the move.

Mason Nystrom who previously worked for ConsenSys tweeted Messari data about the first and largest NFT marketplace. The data shows that OpenSea surpassed over $1 billion in cumulative Non-Fungible Token volume.

Based on the data, the analyst said that OpenSea’s volume in 2021 alone is more than the volume in 2018, 2019, and 2020 combined. Because in 2018, OpenSea’s volume was $473k, in 2019, it increased to $8 million. And in 2020, it reached $24 million.

In addition, the data shows that non-fungible tokens seem to be bubbling again. The co-founder and CEO of OpenSea, Devin Finzer, also tweeted about the platform daily transaction. Finzer said that the platform processed over $95 million worth of transactions in two days.

More so, he estimates that OpenSea processed $21 million in volume for 2021. It appears that the marketplace is enjoying an increase in daily transaction value by more than 650 times since 2020.

According to DappRadar, OpenSea extends its lead over rival NFT marketplaces. SuperRare and Rarible currently serving daily volumes of $543,000 and $248,000, respectively.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.