Just for January, OpenSea NFT Market Hit $5 Billion in Trading Volume

NFTs, famously called Non-Fungible Tokens, uniquely exist and are impossible to duplicate. NFTs can be in images, videos, music, or text that can exist in any digital form in the blockchain.

The most common form of NFT is digital artworks that come into two.

A digital artwork like Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS”, sold for $69 million at Christie’s last year of March, is one of the best examples of NFT digital artwork that is worth millions of dollars.

Christie's is proud to offer "Everydays – The First 5000 Days" by @beeple as the first purely digital work of art ever offered by a major auction house. Bidding will be open from Feb 25-Mar 11.

Learn more here https://t.co/srx95HCE0o | NFT issued in partnership w/ @makersplaceco pic.twitter.com/zymq2DSjy7

— Christie's (@ChristiesInc) February 16, 2021

On the other hand, NFT digital collectibles like the BAYC, Bored Ape Yacht Club is a collection of 10,000 unique bored ape NFTs that made the crypto community go wild. Even celebrities, famous influencers, and huge companies joined the bandwagon.

Screenshot Image of BAYC Website https://boredapeyachtclub.com/#/home

Launched in 2017 in Beta, OpenSea.io is a popular NFT peer-to-peer marketplace allowing users to trade NFTs. 

A screenshot image of OpenSea Website https://opensea.io/

According to Dune Analytics, OpenSea.io trading volume set an all-new all-time high in monthly volume.

OpenSea monthly volume (Ethereum) Data from https://dune.xyz/rchen8/opensea

Despite the cryptocurrency downfall that is still happening—like Bitcoin falling as low as $33,000 last month of 24th, almost 50% from last year’s November all-time high of $69,000, NFTs are starting to be one reason people go through the internet.

Is it possible that OpenSea.io’s trading volume will have another new record for the coming months?

Sources

• OpenSea Hits Record $5 Billion USD in Monthly NFT Sales | HYPEBEAST