OpenSea has gradually emerged to be the most successful NFT platform. We can trace the rise of NFTs with the success of OpenSea as an NFT marketplace. NFTs have taken the world by storm, and much of the credit goes to OpenSea and other NFT marketplaces. They have made it possible for the average person to get into the world of cryptography and NFTs. Today the NFT market is a multi-billion industry that still has a huge potential to grow. Everyone from the next-door neighbor to celebrities is buying NFTs both as pieces of art and as long-term investments. A recent stat about OpenSea shows that the NFT craze is nowhere near slowing down. The latest monthly market transaction volume shows that OpenSea has crossed the $3.5 billion mark and has reached its new peak.
While OpenSea is doing extremely well with the beginning of 2022, things were not as bright a few months back. In November 2021, OpenSea transaction volumes reached very low levels – around $2.37 billion. With the new year, more people are suddenly inclining towards NFTs. It is now a practice among niche circles to gift NFTs. The holiday season also saw a lot of leisure time when people could catch up with the world’s affairs. Recent debate regarding NFTs among Wikimedia editors also brought NFTs to the limelight. If the present market condition is indicative of the future of NFTs, Opensea and other NFT marketplaces are going to enjoy tremendous success. The global crypto community is evidently excited to see such developments.