The leading NFT marketplace, OpenSea, now processes more transactions per day than it will in the entire period of 2020.
On August 2, Devin Finzer, OpenSea’s co-founder and CEO, tweeted that the platform processed $95 million worth of transactions in two days.
Finzer estimates that OpenSea processed $21 million in transactions in all of 2021, and that the marketplace appears to have increased its daily trading volume more than 650 times since 2020.
OpenSea is extending its lead over rival NFT marketplaces, with SuperRare and Rarible currently trading at $543,000 and $248,000 per day, respectively, according to DappRadar.
While Rarible outperformed OpenSea in 2020, which saw more than $24 million in volume last year, OpenSea now has 150 times the volume of Rarible. Despite slipping down the charts, Rarible’s daily trading volume has increased nearly fourfold since 2020.
SupeRare processed about $6 million in transactions last year, which equates to an average of about $16,400 per day, according to Dune Analytics. As a result, SupeRare’s transaction volume has increased more than 33 times since 2020.
The NFT space saw meteoric growth earlier this year before peaking in May, and in early June total NFT sales were already down 90% from the market peak.
Despite the market’s pullback in June, NFT sales still reached $2.5 billion in the first half of 2021.
According to DAppRader, OpenSea currently leads the NFT space in terms of sales, followed by popular DApps Axie Infinity and CryptoPunks. the surging game Axie represents $27.12 million worth of daily transactions, while in the last 24 hours, more than $5.5 million worth of CryptoPunks have changed hands.
OpenSea recently gained unicorn status after closing a $100 million Series B round on July 20 at a $1.5 billion valuation.
As part of that round, the platform announced plans to launch a “gas-free” marketplace on Polygon, in addition to deploying on Dapper Lab’s NFT-focused Flow blockchain.