• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
OpenSea
Advertisement

Plenty Of Fish: OpenSea Dominates NFT Marketplace Volume

thathanka.iyotake by thathanka.iyotake
1 year ago
in NFT
0
Advertisement

If you are unaware about NFTs and the OpenSea marketplace now is a good time to learn about them. They have become quite a rage over the last year and many creators around the world are finding authenticity for their work and a source of income through NFTs.

A NFT is a unique token that is used to certify the provenance, authenticity and ownership of a piece of digital media. Similar to cryptocurrencies, these tokens are registered on a public blockchain. It is to be noted that every NFT is unique unlike cryptocurrencies where one Bitcoin or any other coin is identical to another.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
Popular collections such as CryptoPunks has been leading the recent growth in NFTs.

Though there are quite a few NFT marketplaces, OpenSea is the world’s largest for creating and trading NFTs. Collections created and admired by the community such as CryptoPunks, Bored Ape Yatch Club, and Ether Rocks have propelled the platform forward in a big way. Just over the last month, the company saw 266000 unique addresses in its transactions and the total monthly volume on August 23 was seen at $1.67 billion as reported produced by Dune Analyticsa. DAppsRadar is another popular decentralized apps tracker. This amount was almost half of its entire volume, a good reminder that NFTs have become quite a craze enough though the market is still in its early stages.

Related Reading: NFTs In A Nutshell: A Weekly Review

The recent growth in Non Fungible Tokens as they are called comes at a time when the cryptocurrency market has started trending again after a brief correction that lasted a few months. The prices of popular cryptos such as Bitcoin  have gone up again, with Bitcoin trading around $50,000 mark.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Ethereum too has seen its price surge on the back of the rapidly increasing adoption of NFTs with the price up 70 percent from its recent lows and is now trading above $3000. Source: ETHUSD at TradingView.com

Big Sales Are Driving The NFT Market

The market has seen a lot of big sales which is driving it. This is not only in terms of revenue but also the creators who are selling. There has been a surge in celebrities and known creators who are joining the NFT space and this year has seen NFTs that have been minted by pop musician Katy Perry, rapper Jay-Z and even Tim Berners Lee who is known as the founder of the Internet. Tim had tied up with popular auction house Sotheby’s in June in order to sell the source code of the Internet as a NFT piece and the auction had sold out on a bid of over $5 million.

Related Reading: Burberry Is The Latest Designer Brand To Branch Into NFTs

Another interesting development in the NFT sector is the interest from sports personalities and institutions which has the potential to bring in a lot of new traders and buyers. Popular football clubs from all over the world have already started using NFTs. Just recently an Indian NFT platform, Ratio, launched cricked NFTs. Even USAs National Basketball Association (NBA) has got into the NFT rage.

The Mike Tyson NFT Collection by Cory Van Lew
The Mike Tyson NFT Collection by Cory Van Lew

The growth of OpenSea is a very positive signal for NFTs as the industry has been trying to gain credibility. Some experts suggest that scalability, interoperability between different blockchains, authenticity and storage could be an issue for NFT platforms in the future as it grows and this remains a challenge for platforms such as OpenSea which could use the increase in its revenue to tackle these factors while also increase in its promotional spends to attract new users.

Featured image by opensea.io, charts by TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

thathanka.iyotake

thathanka.iyotake

Related Posts

Squiggles

One Year Later: Federal Investigators Eyeing Squiggles NFT Creators For Wire Fraud & Money Laundering

3 days ago
NFT

Here’s Why The NFT Landscape May Have Changed For Better During Bear Market

4 days ago
NFTs Professionals Reveal Ways To Prevent NFT Thefts

How You Can Prevent Hackers From Stealing Your NFTs

5 days ago
Dookey Dash

Could Yuga Labs’ Dookey Dash Revive The GameFi Hype?

5 days ago
NFT Collector Who Fell To A Phishing Scam Takes OpenSea To Court

NFT Collector Who Fell To A Phishing Scam Takes OpenSea To Court

1 week ago
Azuki

Hackers Take Over NFT Project Azuki’s Twitter Profile, Steal Over $750K Worth Of Asset

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Who Will Dethrone Ethereum, Solana or Fantom? Big Eyes Coin...

    13 hours ago
  • Twitter Users Roast Mark Wahlberg’s Documentary On FTX...

    13 hours ago
  • Crypto Is Here to Stay. Here’s Why You Should Invest...

    21 hours ago
  • Dogecoin (DOGE) and Shiba Inu (SHIB) Bounce While Snowfall...

    21 hours ago
  • Avalanche (AVAX), Gala (GALA), and Orbeon Protocol (ORBN)...

    24 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.