OpenSea Data Over $2 Billion in Buying and selling Quantity Early in 2022

NFT market big OpenSea is recording spectacular numbers a couple of days into 2022, with the platform’s buying and selling quantity already at a whopping $2 billion.

OpenSea Heading In the direction of New Month-to-month Quantity ATH

Knowledge from Dune Analytics confirmed that the main market’s common every day buying and selling quantity to date in 2022 is over $260 million. Whereas the month-to-month quantity recorded in January has already surpassed $2 billion, the determine is but to cross the all-time excessive (ATH) of over $3.5 billion reached again in August 2021.

In the meantime, with the amount recorded simply ten days into 2022, there’s a chance that January’s month-to-month quantity might set a brand new ATH. The most recent growth comes shortly after OpenSea raised $300 million in a Collection C funding spherical, led by Coatue and Paradigm.

The contemporary injection of capital introduced OpenSea’s valuation to over $13 billion, an astronomical rise from $1.5 billion recorded in July 2021. Based on the platform, the $300 million will likely be used to realize focused aims, together with funding within the NFT ecosystem and sturdy product growth.

There continues to be an growing demand for numerous NFT collections, one in every of them being the favored Bored Ape Yacht Membership (BAYC). As earlier reported by CryptoPotato, BAYC crossed $1 billion in gross sales on OpenSea.

The milestone was not solely stunning, seeing as numerous celebrities purchased numerous Bored Apes. NBA star Stephen Curry bought such an NFT with 55 ETH (price $180,000 on the time). American rapper Eminem additionally just lately purchased one price over $460,000. Again in September 2021, 101 BAYC NFTs auctioned on Sotheby’s offered for $24 million.

NFT Market Large Navigating IPO Controversy

Whereas OpenSea has been recording some spectacular performances again to again, the corporate has not been with out criticism. Following the exit of the platform’s Head of Product, Nate Chastain, on reported allegations of insider buying and selling, {the marketplace} appointed its first-ever Chief Monetary Officer (CFO) in December.

The brand new CFO, Brian Roberts, beforehand occupied the identical place on the US ride-hailing firm, Lyft. Shortly after his appointment, Roberts mentioned that contemplating the success price of the corporate, the logical factor was to think about taking the main market public.

Nevertheless, many within the crypto group didn’t take kindly to the CFO’s assertion, stating that it was disappointing that the platform was not trying to do token airdrops. Roberts instantly tried to clear the air, saying that his remark was misunderstood.

Based on the manager, OpenSea was not but trying to go public and would seek the advice of with the group if it ought to do an IPO.