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OpenSea Sees $1 Billion in Trading Volume in August

“Trading volume exceeded $1 billion.

Major non-fungible token (NFT) peer-to-peer marketplace OpenSea, has recorded a massive milestone, as its trading volume hit the $1 billion mark in August.

OpenSea’s Trading Volume Achieves Billion-Dollar Milestone

Tweeting on Tuesday (August 17th, 2021), OpenSea co-founder and CEO Devin Finzer announced the platform’s record trading volume. Earlier in August, the platform’s transaction volume saw a massive $95 million in 48 hours, which exceeded the entire volume registered in 2020.

Photo by ArtHouse Studio on Pexels.com

According to data from DappRadar, OpenSea has processed over 385,500 ETH worth $1.2 billion in trading volume in the last 30 days. This figure signals an astronomical increase of 932.68%.

Indeed, the $1 billion mark recorded on OpenSea is an indication of the growing use and adoption of NFTs. Celebrities, artists, sports clubs, musicians, among others continue to tap into the nascent industry by launching their various digital arts.ADVERTISEMENT

As reported by CryptoPotato earlier in August, New York-based American entertainment giant Marvel Entertainment unveiled the first set of NFTs of one of its comic superheroes, Spiderman, which sold out in under 24 hours. The company later launched the Captain America digital collection series.

Back in July, New York Knicks, an American professional basketball team partnered with enterprise NFT solution Sweet to launch five limited editions of 3D NFT Knicks tickets. The sector has also penetrated the government landscape, as Isreal’s new President received a digitalized copy of the original oath signed by the President’s father.” Cryptopotato

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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