OpenSea’s Daily Volume Is Exceeding Its 2020 Total
Nonfungible tokens appear to be bubbling again, with marketplace OpenSea now processing more volume daily than it did for the entirety of 2020. Leading nonfungible token (NFT) marketplace OpenSea is now processing more transactions daily than it did during the entirety of 2020. On Monday, Devin Finzer, co-founder and CEO of OpenSea, tweeted that the platform had processed $95 million worth of transactions in two days. Finzer estimates that OpenSea processed $21 million in volume for the entirety of 2021, as the marketplace appears to have enjoyed an increase in daily transaction value by more than 650 times since 2020. DappRadar data shows that OpenSea is extending its lead over rival NFT marketplaces, with SuperRare and Rarible currently representing daily volumes of $543,000 and $248,000, respectively. While Rarible outperformed OpenSea in 2020, with the platform hosting more than $24 million worth of volume last year, OpenSea now represents 150 times the amount of Rarible’s...