OpenSea Crosses $1 Billion Trading Volume In The NFT Mania!


There’s good news for OpenSea – the leading NFT marketplace built on Ethereum as it has benefited the most from the recent NFT mania. According to crypto analytics and aggregator Messari, OpenSea has facilitated more than $1.02 billion in trading volume in this year – a new all time high for the cumulative volume that OpenSea or any NFT marketplace has ever processed!

Built on Ethereum, OpenSea is the primary decentralized NFT marketplace providing listing, trading and creating services. It features a powerful explorer and search engine for NFTs. The platform has a modest fee for transacting on the platform and has a robust classification method for all different kinds of NFTs.

OpenSea activity has been climbing at an astronomical level as seen in the tweet by @masonnystrom as the historical data showed that the platform did only $473,000 trading volume in 2018, a respectable $8 million in 2019, steady growth $24 million in 2020 and over $1 billion for the present year – a truly praiseworthy and excellent growth. The future appears bright for OpenSea as the activity around NFTs is just only starting to heat up.

What Are NFTs?

Non Fungible Tokens (NFTs) are unique tokenized digital assets, which aren’t exchangeable 1:1 with each other. NFTs can be art, collectible cards, a person’s time or services, game items, domains etc. In this article however, we will focus mostly on the art side of things. NFTs can be art, collectible cards, a person’s time or provided services, game items, domains etc and in short, all tokenizable real virtual “assets”.

OpenSea NFT marketplace
OpenSea NFT marketplace© Cryptoticker

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