NFT market in December: Blur blazes past OpenSea as year ends
Journalist
Posted:
- Blur’s buying and selling quantity has considerably exceeded OpenSea’s this month.
- OpenSea has seen a decline in its NFT gross sales and merchants depend within the final 25 days.
The non-fungible token (NFT) market and aggregator Blur [BLUR] is poised to finish 2023 on a excessive word, with buying and selling quantity anticipated to surpass OpenSea considerably.
Blur’s meteoric rise has seen it lead the pack in month-to-month gross sales quantity for over half of the yr, marking a serious shift within the NFT panorama.
In line with information from DappRadar, within the final month, Blur’s NFT gross sales quantity totaled $590 million, rating above all different NFT marketplaces.
OKX NFT Market and Magic Eden intently trailed behind, reaching gross sales volumes of $558 million and $144 million, respectively, throughout the identical time interval.
OpenSea got here in fourth place with a gross sales quantity of $119 million. Through the 30-day interval thought-about, the once-leading NFT market recorded a mere 29% uptick in month-over-month gross sales.
Supply: DappRadar
OpenSea in December
The low gross sales quantity recorded by OpenSea compared with Blur, OKX, and Magic Eden could also be attributed to the decline it has witnessed in its depend of NFTs bought this month.
AMBCrypto discovered that to this point this month, 204,212 NFTs have been bought on OpenSea in December. This represents a 33% decline from the 305,062 whole NFTs bought in November and a 92% fall from the 1.14 million NFTs bought firstly of the yr.
Supply: Dune Analytics
The decline in OpenSea’s month-to-month energetic customers, which started in February, has continued in December, in keeping with information from Dune Analytics. To date this month, the variety of merchants which have accomplished NFT trades on OpenSea totals 99,428.
This marks a 13% lower from the 114,819 distinctive merchants {the marketplace} recorded in November. As Blur’s market management skyrocketed, the month-to-month depend of merchants that use OpenSea has plummeted by 81% because the 528,991 merchants it recorded in February.
Nevertheless, regardless of the lower within the depend of distinctive merchants and the whole variety of NFTs bought this month, there was a slight uptick in platform charges on OpenSea. That is the payment {the marketplace} fees for facilitating gross sales transactions.
In line with information from Dune Analytics, to this point this month, it has seen $3.08 million in platform charges. This stands at a 17% development from the $2.83 it recorded in platform charges in November.
December to recollect
The final NFT market has recorded appreciable development within the final month.
As of this writing, the final NFT market capitalization was $8 billion. Knowledge from NFTGo confirmed it has grown by over 10% within the final 30 days.
Throughout the identical interval, NFT gross sales quantity has risen by 38%. At press time, this was $674 million.
Supply: NFTGo
