In the midst of a growing NFT boom, marketplaces like OpenSea, SuperRare and Nifty Gateway are experiencing record-breaking volumes.
There was over $100M in NFT sales over the last 30 days, according to Crypto Slam, which tracks the data, and a large part of the trading action is taking place on secondary markets. This means that beyond the primary sale of NFTs, there is a vibrant number of participants collecting listed assets.
Volume on OpenSea, the leading marketplace for NFT resales, increased by 400% in February from one month ago, up to $32M from $8M.
OpenSea Monthly Volume
SuperRare recently broke $10M in total sales volume, broken down as $7.87M Primary Sales and $2.19M Secondary Sales.
Nifty Gateway, the leading crypto art marketplace by volume, is set to break it’s previous record of $8.72M in 30 day volume as it nears $6M in volume just halfway through February.
But it’s not all just on Ethereum. The new kid on the block, NBA Top Shot has sold over $70M worth of moments since its October launch, the most out of all NFT markets ever, according to Crypto Slam. Flow is the blockchain supporting NBA Top Shots. Wax is another blockchain supporting NFT sales.
NBA Top Shot success is setting the stage for Dapper Labs, the maker of the platform, to raise $250M at a $2B valuation according to The Block.
CryptoPunks and Hashmasks are the highest priced sales, with CryptoPunk 2890 topping the list at $747k, followed by Hashmask 9939 at $640k. The top 17 highest-priced sales of crypto collectibles have happened in the last 30 days.
As we continue to watch celebrities dip their toes in the water through NFTs, be sure to keep an eye on the key players who shaped the movement. If brief NFT history is any indication with CryptoPunk and CryptoKitties, it’s likely that they will be some of the few artists still thriving when the music stops.