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

There’s good news for OpenSea. The leading NFT marketplace works 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 this year. That’s a new all-time high for the cumulative volume that OpenSea or any NFT marketplace has ever processed!

OpenSea is the primary decentralized NFT marketplace. It provides 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 is on the RISE!

OpenSea activity climbed 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, the steady growth of $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.

OpenSea has officially surpassed $1 billion in gross market volume after a record few days.

More impressively @opensea facilitated $1 billion in volume in 2021 alone!

2018 – $473k
2019 – $8 million
2020 – $24 million
2021 (YTD) – $1.02 billion

Just absolutely insane growth. pic.twitter.com/loH0jw5cqr

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”.