OpenSea records $1 billion in trading volume in August alone
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Answer OpenSea records $1 billion in trading volume in August alone
OpenSea, a platform that provides an active market for the trading of non-fungible peer-to-peer (NFT) tokens, has recorded a massive event, with trading volume reaching $1 billion in August.
OpenSea’s trading volume has reached $1 billion for the month of August so far.
And it’s still day 0 for NFTs.
– Devin Finzer (@dfinzer.eth) (@dfinzer) August 17, 2021
OpenSea’s trading volume hits $1 billion:
in Tweet Yesterday, Tuesday, Devin Finzer, co-founder and CEO of OpenSea, announced that the platform had registered a record trading volume.
Earlier in August, the platform saw $95 million of transaction volume in 48 hours, exceeding the full volume recorded in 2020.
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According to data published by DappRadar, OpenSea has processed over 385,500 ETH worth $1.2 billion in trading volume in the last 30 days.
This number indicates an astronomical increase of 932.68%.
The billion dollar mark on OpenSea is an indication of the growing use, adoption and adoption of NFT.
Celebrities, artists, gyms, musicians and more continue to benefit from the emerging industry by launching their various digital arts.
Earlier in August, New York-based American giant Marval unveiled the first set of NFT for one of its superheroes, “Spider-Man,” which sold out in less than 24 hours.
The company later launched the digital collection series “Captain America”.
NFT Market In Its Embryonic Stages:
The CEO of OpenSea believes that the sector is still relatively new, as Finzer previously mentioned that NFT could become the new internet.
But at the moment it is still in the embryonic stage.
According to Finzer, the combination of the attractiveness of NFT and the novelty of decentralization could propel platforms like OpenSea to greater success.
Market giant NFT earlier raised $100 million in a Series B funding round led by Andreessen Horowitz.
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Combined with previously raised funds, the company has a market capitalization of $1.5 billion.
OpenSea is also looking to add support for multiple blockchains, making it the first cross-blockchain NFT marketplace.
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