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Considering the great success non-fungible token Starting in 2022, it can be said that NFTs will soon become the undisputed leader in the investment field. The growing craze for digital collectibles has greatly boosted commercial institutions and companies involved in NFT transactions, such as the world-renowned NFT marketplace OpenSea. In its latest achievement, OpenSea managed to surpass the $3.5B mark for the first time in its monthly ether trading volume, setting a new record for its rapidly growing trading ecosystem.
according to Data reports from the world’s top Dune Analytics NFT market It has already surpassed Portal’s all-time high of $3.42B set in August 2021. On January 16, 2022, OpenSea’s trading volume reached $261 million, indicating continued support for NFTs by global investors. The first month of the new year, 2022, proved to be very successful for OpenSea, as the portal managed to attract $169 million in daily transaction volume while setting a new record for the NFT cluster.
The growth of the non-fungible token trading volume on the OpenSea market can be attributed to a number of factors. One of the catalysts for the surge in NFTs has been the rise in prices for premier series Boring Ape Yacht Club (BAYC) and its related series, Mutant Ape Yacht Club (MAYC) and Boring Ape Kennel Club (BAKC). The BAYC NFT pool has a large number of celebrity clients and is therefore the most popular product on the OpenSea portal.The project involves a successful transaction 14,306 ETH or $47 million in the last 24 hours.
To further expand its business, OpenSea recently announced a $300 million Series C round led by venture capital firms Paradigm and Coatue. The event saw active participation in the industry and helped increase the company’s value in the industry to $13.3B. The company will use the funds to enhance the potential of its existing product portfolio and expand its workforce for better results.
A report published by Dune Analytics shows that OpenSea is facing stiff competition from a new NFT portal called LooksRare. Launched in January 2022, LooksRare has managed to achieve high transaction volume in a short period of time into the NFT space. OpenSea’s powerful trading tools and services still make it the most trusted NFT market space. In a recent case, Sultan Gustaf Al Ghozali, a 22-year-old student from Indonesia, became a millionaire by turning 1,000 selfies into NFTs and selling them on OpenSea. The potential to provide quick returns in the simplest form of investment has made NFTs very popular among young investors.
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