Even though non-fungible token sales (NFT) have declined over the past year, the top five NFT marketplaces in terms of total sales reached more than 40 billion. Opensea, the NFT marketplace platform that currently controls the five top NFT markets by 79%, has also raked in more than $32 billion.
Opensea dominates at 79% in Top Five NFT Markets, Sales Exceed $40 Billillion
In October 2018, the five largest NFT marketplaces exceeded the $40 billion threshold in terms of total sales. There were approximately $41.36 trillion on Oct. 29 2022. Opensea was the largest NFT market in terms of total sales, with $32.76 Billion recorded Saturday.
Statistic from dappradar.com shows that $32.76 Billion in sales were handled by 23.4 million traders. The average cost of an NFT through Opensea was $352 on Saturday Oct 29th.
Opensea follows the Axie Marketplace (which costs 4.26B), Magic Eden (which costs $1.83B), Looksrare (1.62B), and X2Y2 (2.61M). Axie Marketplace is a market that focuses on NFTs that are derived from AxieInfinity, a play-to-earn blockchain game. The market has had 2.17 million trader to date.
Axie Marketplace’s average NFT price is $171. Solana’s Magic Eden has captured $1.83 billion in sales that were settled by 1.21 million traders. An NFT for Magic Eden cost $124 on October 29.
NFT market Looksrare saw fewer trades, with records showing that there have been 107,636 settlements through the Looksrare marketplace. The average NFT price on Saturday was $6.59K, but that’s not the case.
Though X2Y2 still hasn’t reached a billion NFT-related sales, the company has made steady steps towards this milestone. 8.91 million was settled by 158.273 traders in the NFT market of X2Y2. It closed on October 29, 2022. At the time of writing, $582.78 was the average NFT price on X2Y2.
Mobox ($694M), Solanart (665M), Bloctobay (458M), Atomicmarket (335M), Immutable X Marketplace (435M), Rarible (302M), etc. are all other leading NFT markets in terms of sales. Although monthly sales are down, the cumulative sales of more than $40 Billion in five major markets over the lifetime is quite impressive.
According to cryptoslam.io, NFT sales worldwide over the last 30 Days totaled $426M. This is a 21.32% decrease from the prior month. In the last 30 days, there were approximately 4,556.057 transactions in NFT amongst 510.859 buyers.
Let us know your thoughts on the five NFT market leaders that have surpassed $40 billion in total NFT sales. Please comment below to let us know your thoughts on this topic.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. It does not constitute an offer, solicitation, or recommendation of companies, products or services. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.