According to data compiled by The Block, the monthly trading volume of the non-fungible token (NFT) marketplace OpenSea has surpassed $1 billion.
From July to August, OpenSea’s trading volume increased 286 percent, and it has carried the majority of NFT monthly trading volume since May of this year. This month, the firm has already seen $1.23 billion in volume, while the overall market has seen $1.27 billion.
The platform’s all-time high trading volume also coincides with all-time high search interest on Google, as previously reported by us. In other words, for the first time ever, search interest in “OpenSea” is at an all-time high.
OpenSea, a New York-based firm founded in 2017, was valued at $1.5 billion at the end of July. It raised $100 million in its most recent Series B funding round and $23 million in its Series A, both of which were led by the venture firm Andreessen Horowitz.