We’ve only been in the new year for a few days, and OpenSea has proven to be the open sea of NFT.
On the second day of 2022, the NFT marketplace, which houses some of the largest blockchain-based holdings from Bored Apes to CryptoPunks, announced sales of $243 million. The number rose significantly during New Year’s Eve. The company made $170 million on January 1 and $124 million on December 31.
Open sales increased 646-fold in 2021, cruises in 2022
OpenSea finished 2021 with a total trading volume of nearly $14 billion. According to data from Token Terminal, the highest volume of the NFT market was $21.7 million in 2020, which means trading increased by 646 last year.
OpenSea daily cumulative transaction vol. Source: Token Terminal
OpenSea left its competitors in the dust. According to data from DappRadar, the largest platform, Rarible, handled $260 million in transactions in 2021.
Only a few professional collectors were aware of the potential of NFTs this time last year. OpenSea is now just one of many companies that have taken advantage of the rapidly expanding market. OpenSea made up more than $60 billion ($14 billion) of the $20 billion in NFT revenue recorded in 2021.
Statistics from Dune Analytics, a free blockchain data analytics platform, show that OpenSea daily trade volumes have exceeded $200 million for six of the ten days so far in 2022. In 2022, OpenSea is on the verge of surpassing $2 billion in NFTs traded . Since the start of 2022, they have generated more than $1.9 billion in commercial activity.
ETH/USD plunges further as BTC struggles to recover. Source: TradingView
Bored Ape Yacht Club was the group that made OpenSea the most money in 2021. Bored Apes, which debuted in April and is based on the success of the original generative avatars, CryptoPunks, started a new direction for animal avatar NFT projects. BAYC has seen a trading volume of about 280,000 ETH, or about $1.06 billion, since its launch, representing 6.3 percent of OpenSea’s total volume.
While these kits command record prices, the data points to Prime Ape Planet PAPs and the Bored Ape Kennel Club as potential emerging markets. Time will tell if they are strong, but in the meantime they are contributing to the boom in the market and some amazing numbers.
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Here are some other projects to consider in OpenSea
Metawatches is the first NFT watch company of its kind. The first to combine the latest technology and fine art. The NFTs fully operate with three separate modes to display the owner’s current time: Metaverse, Smartwatch, and Clock. The synergies that exist between art and technology are central to NFT’s functional artwork. It blends smartwatch functionality with the luxury that smartwatches currently lack.
From January 8-10, 2022, “The Analog Summer 2021” was released at a price of 0.8 Eth. On January 10th, the NFT watch range was revealed, totaling 1,234 NFTs. All 1234 NFTs have distinct rare traits. They are all trading on OpenSea.
The company has also teamed up with world-renowned NFT artist Kenny Schachter to create an exclusive collection of ten timepieces, which are only available through the Nagel Draxler Gallery.
Moon Boyz is a set of 11,111 unique characters found on the Ethereum Blockchain. Each NFT is unique and 3D designed, and includes full membership in an ever-growing community as well as great facilities.
MekaVerse is a collection of 8888 generated Mekas inspired by the worlds of Japanese Mecha.
Mattey and Matt B, friends and 3D artists who ventured into the NFT space, created the MekaVerse Project.
The MekaVerse project roadmap includes bringing the Mekas to life through high quality 3D printed games. The MekaVerse project is still in progress, with the plan’s founders and owners leading the way. The goals of the project include street fashion, partnerships with famous artists, and the possibility of making short films based on characters.
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Featured Image from Shutterstock | Charts by Token Terminal, and TradingView