OpeanSea Transaction Volume Shows That NFTs Are Not Slowing, Here Are Some Projects To Consider
11 January 2022 - 11:58AM
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We’ve only been in the new year for a few days, and OpenSea is
proving to be NFT’s open sea. On the second day of 2022, the NFT
marketplace, which features some of the biggest blockchain-based
collectibles from Bored Apes to CryptoPunks, announced $243 million
in sales. The figure went up significantly during new year’s eve.
The company made $170 million on January 1 and $124 million on
December 31. Opensea Sales Increased 646x In 2021, Cruises Into
2022 OpenSea ended 2021 with a total trading volume of nearly $14
billion. According to data from Token Terminal, the top NFT
marketplace witnessed a volume of $21.7 million in 2020, implying
that trading surged by a factor of 646 last year. OpenSea daily
cumulative transaction vol. Source: Token Terminal OpenSea left its
competitors in the dust. According to data from DappRadar,
the next largest platform, Rarible, handled $260 million in
transactions in 2021. Only a few niche collectors were aware of the
possibilities of NFTs this time last year. OpenSea is now just one
of several companies that have tapped into the rapidly expanding
market. OpenSea accounted for more than $60 billion ($14 billion)
of the $20 billion in NFT revenues recorded 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. In 2022, OpenSea is on the
verge of surpassing $2 billion in traded NFTs. Since the beginning
of 2022, they have generated over $1.9 billion in trade activity.
ETH/USD plunges further as BTC struggles to recover. Source:
TradingView Bored Ape Yacht Club was the collection that earned
OpenSea the most money in 2021. Bored Apes, which debuted in April
and is based on the success of the original generative avatars,
CryptoPunks, began a new trend of 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. While these collections are commanding
record-breaking prices, data points to the Prime Ape Planet PAPs
and the Bored Ape Kennel Club as potential emerging markets. Time
will tell if they have staying strength, but in the meantime, they
are contributing to a thriving market and some pretty incredible
numbers. Related article | Eminem Buys Bored Ape Yacht Club NFT
That Looks Like Him For $452K Here Are Some Other Projects To
Consider On OpenSea Metawatches Metawatches is the first NFT watch
company of its sort. The first to bring together cutting-edge
technology with high-end art. Fully working NFTs with three
separate modes for displaying the owner’s current time: Metaverse,
Smartwatch, and Clock. The synergies that exist between art and
technology are the focus of these functional NFT artworks. They mix
the functionality of a smart watch with the luxury that is
currently lacking 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. All 1,234 NFTs have distinctive rarity
qualities. They all trade on OpenSea. The company also collaborated
with internationally renowned NFT Artist Kenny Schatcher to create
an exclusive collection of ten watches, which are only available
through the Nagel Draxler Gallery. The Moon Boyz The Moon Boyz are
a group of 11,111 distinct characters that exist on the Ethereum
Blockchain. Each NFT is one-of-a-kind and 3D-designed, and it
includes complete membership in an ever-growing community as well
as superb utilities. The Mekaverse The MekaVerse is a collection of
8,888 generative Mekas inspired by Japan’s Mecha worlds. Mattey and
Matt B, two pals and 3D artists who have gone headfirst into the
NFT space, 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 still in progress, with
the founders and holders of the characters driving the plan. The
project’s goals include streetwear, partnerships with well-known
artists, and the possibility of making short films based on the
characters. Related article | a16z, Mark Cuban invest $23 million
in NFT platform OpenSea Featured Image from Shutterstock | Charts
by Token Terminal, and TradingView
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