OpenSea Ethereum-based NFT transactions surpass 10 million

03/05/2023 00:37 • Blockchain Buzz • 161 views

According to the latest data of Dune Analytics, the total number of transactions on the OpenSea Ethereum chain based on the open source NFT protocol Seaport has exceeded 10 million, reaching 10006368 so far, with a total transaction amount of about 3.647 billion US dollars and 1323582 independent users.

OpenSea Seaport has exceeded 10 million transactions on the Ethereum chain, with a transaction value of more than $3.5 billion

Interpret the above information:

The latest update from Dune Analytics has revealed that the total number of transactions on the OpenSea Ethereum-based chain, which uses the open-source NFT protocol Seaport, has surpassed 10 million. This marks a significant milestone for the popular digital art marketplace, which has seen tremendous growth in recent months.

The data collected by Dune Analytics shows that the total transaction volume on OpenSea has reached approximately $3.647 billion, with over 1.3 million independent users making transactions on the platform. These figures confirm the growing demand for NFTs and their increasing adoption among collectors, artists, and investors.

NFTs, or non-fungible tokens, are unique digital assets that can represent anything from artwork and music to memes and tweets. They are created on a blockchain, which keeps a publicly accessible record of ownership and transaction history. This technology has allowed for the creation and sale of virtual assets that can be one-of-a-kind or in limited supply, making them highly desirable among collectors.

The Seaport protocol, which OpenSea utilizes, is an open-source platform that enables developers to create their own NFT marketplaces. This has contributed to the explosive growth of the NFT market, providing a decentralized infrastructure for buying and selling NFTs with greater ease and lower fees.

As the NFT market continues to expand, the demand for more versatile and advanced NFT platforms will grow too. The development of more sophisticated NFT protocols and marketplaces could unlock new use cases for NFTs, such as in gaming, virtual real estate, and digital identity.

In conclusion, the latest data from Dune Analytics confirms the growing popularity of NFTs and their increasing adoption among investors, artists, and collectors. The milestone of 10 million transactions on OpenSea’s Ethereum-based NFT chain is a testament to the potential of blockchain technology in digital asset management and distribution.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/10091.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.