We’ve only been in the new year for a few days, and OpenSea is proving to be NFT’s open sea.
NFT marketplace announced that it had sold $243 million worth of collectibles based on blockchain technology. It features everything from Bored Apes (to CryptoPunks) and CryptoPunks (to name a few). The figure went up significantly during new year’s eve. It made $170million on January 1, and $124million on December 31, respectively.
Opensea Revenues Increased 646x by 2021; Cruises to 2022
OpenSea finished 2021 having a trading volume close to $14 billion. Token Terminal data shows that the largest NFT market saw a trading volume of $21.7 Million in 2020. This means that trades increased by 646.
OpenSea daily cumulative transaction vol. Source: Token Terminal
OpenSea outperformed its competition. DappRadar’s data indicates that Rarible is the second largest platform. It processed $260 million worth of transactions in 2021.
Only a handful of niche collectors knew about the potential of NFTs last year. OpenSea, however, is only one company that has tapped into this rapidly growing market. OpenSea contributed more than 60 billion dollars ($14 billion) to the 20 billion NFT revenues in 2021.
Statistics from Dune Analytics, a free blockchain data analytics platform, shows that OpenSea’s daily trade volumes have exceeded $200 million for six of the ten days so far in 2022. OpenSea has the potential to surpass $2 billion worth of traded NFTs in 2022. Over $1.9 Billion in trade activity has been generated since 2022.
ETH/USD continues to plunge as BTC fails to recover. TradingView
Bored Ape Yacht Club is the collection that OpenSea earned the most in 2021. Bored Apes was launched in April. Based on CryptoPunks original generative avatars (Crypunks), it started a new trend for NFT animal avatar projects. BAYC has seen a trading volume of about 280,000 ETH, or around $1.06 billion, since its launch, accounting for 6.3 percent of OpenSea’s total volume.
Although these collections command record prices, data suggests that there are two potential emerging markets: the Prime Ape Planet PAPs and Bored Ape Kennel Club. They will be tested over time, but they are making a significant contribution to an already thriving market with some amazing numbers.
See also:| Eminem Buys Bored Ape Yacht Club NFT That Looks Like Him For $452K
OpenSea also has some other projects you might like to check out
Metawatches
Metawatches is the original NFT watch manufacturer of its kind. It is the only company that combines cutting-edge technology with fine art. Fully working NFTs with three separate modes for displaying the owner’s current time: Metaverse, Smartwatch, and Clock. Functional NFT artworks focus on the synergies found between art and tech. These artworks combine the functions of smart watches with luxury features that are currently missing in smart watches.
On January 8th-10th, 2022, “The Analog Summer 2021” was issued with a mint price of 0.8 Eth. On January 10th, the NFT watch collection was revealed, with a total of 1,234 NFTs. Every NFT has distinctive rarity properties. All NFTs trade on OpenSea.
In addition to collaborating with Kenny Schatcher, an internationally-respected NFT artist, the company created a special collection of ten watches that is only available at Nagel Draxler Gallery.
The Moon Boyz
Moon Boyz, a collective of over 11,111 unique characters found on Ethereum Blockchain. Every NFT is unique and 3-D-designed. It includes full membership to an ever-growing community and amazing utilities.
The Mekaverse
The MekaVerse is a collection of 8,888 generative Mekas inspired by Japan’s Mecha worlds.
Mattey B and Matt B are two 3D artists and friends who have jumped headfirst into NFT, and created the MekaVerse Project.
The MekaVerse project’s roadmap involves bringing the Mekas to life through high-quality 3D-printed toys. The MekaVerse Project is currently in process. Its founders and holders still control the project. The project’s goals include streetwear, partnerships with well-known artists, and the possibility of making short films based on the characters.
See also:|Mark Cuban and a16z invest $23 Million in NFT platform OpenSea
Featured Image: Shutterstock Charts By Token Terminal, TradingView| Charts by Token Terminal, and TradingView