OpenSea: Ethereum and Polygon NFT sales hit 2023 lows

by ChainChirp
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  • Ethereum and Polygon-based NFTs on OpenSea recorded their lowest gross sales quantity this yr in September.
  • Blur continued to outpace OpenSea when it comes to month-to-month gross sales quantity. 

The month-to-month gross sales quantity of Ethereum [ETH] and Polygon [MATIC]-based non-fungible tokens (NFTs) on main market OpenSea closed September at its lowest stage to date this yr, information from Dune Analytics revealed.

Through the normal bull market within the yr’s first quarter, the month-to-month gross sales of Ethereum-minted NFTs on {the marketplace} reached a powerful peak of $659.02 million in February. 

As curiosity on this type of digital collectibles started to wane in March, month-to-month gross sales quantity on OpenSea launched into a descent, and has fallen constantly up to now seven months.

On the finish of September, the gross sales quantity for Ethereum NFTs on OpenSea totaled $74 million. This represented a 98% fall from its February peak and a 30% decline month-over-month (MoM).

Supply: Dune Analytics

Equally, following a record-breaking NFT gross sales quantity of $109.12 million in February, Polygon-based NFTs on OpenSea have obtained decreased patronage from OpenSea’s customers.

The overall gross sales quantity in September was $5 million – a 95% decline in gross sales since February and a 29% fall MoM. This marked its lowest gross sales quantity for the reason that yr started. 

Supply: Dune Analytics

Along with declining gross sales quantity, the variety of merchants who accomplished transactions involving Ethereum and Polygon-based collectibles on OpenSea in September additionally declined. 

Relating to the rely of Ethereum-minted NFTs bought on OpenSea in September, this totaled 248,089. This was a 1% uptick from the 244,907 Ethereum-based NFTs bought on {the marketplace} in August. 

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Nevertheless, there stays a big decline on a year-to-date (YTD) foundation. In January, over 1 million Ethereum NFTs had been bought on OpenSea.

As for Polygon-based collectibles, the gross sales rely fell to a YTD low in September. Through the 30-day interval, 169,072 Polygon NFTs had been bought on OpenSea.

OpenSea stays in Blur’s shadows

Blur [BLUR] continues to dominate OpenSea when it comes to month-to-month NFT buying and selling quantity, information from DappRadar revealed. In accordance with the info supplier, NFTs buying and selling quantity on Blur totaled $138.8 million. 

OpenSea trailed behind it with a buying and selling quantity of $59 million, registering a 22% decline within the final month. Furthermore, Blur noticed extra NFT buying and selling exercise regardless of having fewer merchants in comparison with OpenSea throughout the interval into consideration.

In accordance with DappRadar, merchants that accomplished NFTs transactions on OpenSea within the final month totaled 173,000. Nevertheless, Blur noticed a mere 28,000 merchants.

Supply: DappRadar

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