OpenSea NFT Platform Eclipses $1.5B in Monthly Trading Volume

OpenSea NFT Marketplace Reaches $1B in Trading Volume in August

The rush on non-fungible tokens (NFT) has continued to grow with marketplaces like OpenSea setting sales records in the billions of dollars.

After setting a new monthly sales record of $1 billion in trading volume, OpenSea has done it again. According to DappRadar, the platform has topped $1.5 billion in trading volume over the last 30 days. This is a 542% growth in volume since this time last month. Even more impressive is that half of OpenSeas’ all-time trading volume, around $2.42 billion, has occurred in the last 30 days. 

DappRadar’s data shows that OpenSea recorded a user growth number of nearly 200% in the last month along with almost 150,000 unique wallet addresses being involved in transactions. The platform saw 1.57 million transactions carried out with a total volume of around $1.67 billion. 

NFT values skyrocketing

As reported by BeInCrypto, the NFT market has continued to shine thanks to several high-profile sales in recent months. The CryptoPunks collection especially has seen major attention from big buyers lately.

At the end of July, a pair of CryptoPunks sold for $5.45 million and $3.76 million. The buyer of the latter was a well-known entrepreneur and NFT supporter, Gary Vaynerchuck. Those two sales marked the third and fourth highest-selling NFTs from the collections and helped OpenSea sell more than $40 million in Punks in just 24 hours. 

Digital art is not the only area where NFTs continue to gain momentum. NFT music projects from Jay-Z and Eminem have proven successful. Even science-focused NFTs, like Tim Berners Lee selling the source code for the internet as an NFT caused a lot of buzz.

Perhaps no other industry, however, has embraced NFTs more than the global sports market. From NFT team tokens to digital trading cards, the pairing of sports and digital collectibles is likely to continue pushing NFTs into the mainstream.

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