NFT Largest Marketplace Surpasses A Million Active User Wallets

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NFT Largest Marketplace Surpasses A Million Active User Wallets
NFT Largest Marketplace Surpasses A Million Active User Wallets

The Non-fungible Token (NFT) marketplace platform OpenSea also impressed in the new year with increasing acceptance and trading figures. The NFT giant has reached a new milestone in the number of active users on the platform.

NFT Marketplace, OpenSea Surpasses A Million Active User Wallets

According to the data released by Dune Analytics on January 13, shows that OpenSea now has over 1 million active user wallets on the platform.

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Total OpenSea Traders Over Time. Source: Dune Analysis

The milestone is the latest sign of OpenSea’s continued growth in early 2022 after massive expansion last year.

Shortly after the news release, reports surfaced that the platform has exceeded $2 billion in trading volume since early 2022 and could hit a new all-time high in terms of monthly trading activity.

In early January 2022, the company’s co-founder Devin Finzer announced that OpenSea had raised $300 million in a Series C funding round.

That brings OpenSea’s market valuation to a whopping $13.3 billion, a sizeable jump from its July 2021 valuation of $1.5 billion.

OpenSea will be on everyone’s lips from 2022, also in line with the level of NFT-related activity earlier in the year, with popular series like CryptoPunks and Bored Ape Yacht Club continuing to gain momentum.

While the dominance of the platform remains unmatched, OpenSea could rival upstarts like LooksRare. The latter recently launched an airdrop marketplace for users.