Only a few years back, NFTs (Non-Fungible Tokens) seemed to be an abstract term that very few people knew about.
OpenSea changed that forever.
OpenSea statistics in 2024 prove that it has turned out to be the one-stop NFT marketplace for investors from all corners of the world.
OpenSea is a regionalized peer-based marketplace for trading rare and unique digital assets.
Whether it’s collectibles, arts, or gaming items developed on NFT (non-fungible token) technology and flow on the blockchain of Ethereum, an investor can buy, sell, and trade these on OpenSea.
It’s the largest marketplace for digital assets with more than 200 categories of items available on the platform and has the best pricing for each new item.
It offers the trading of sports NFTs, virtual worlds, trading cards, decentralized domain names, utility NFTs, digital art, digital collectibles, and the list goes on.
In fact, OpenSea is the trusted and secured platform for a range of popular NFT projects such as Gods Unchained, Axie Infinity, SuperRare, Cryptopunks, CryptoKitties, etc.
This marketplace offers an open platform for people to trade and charges only 2.5% of the bid price of each NFT sold.
As a matter of fact, this platform enables any individual to trade NFTs in the world marketplace without holding any custody for items listed on the same.
Rather, the platform allows trading via a smart contract while storing their items in their preferred wallet.
Moreover, traders can list their items on OpenSea even though they’re listed in other marketplaces, provided they remain in the trader’s wallets.
The major NFT projects, which are Bored Ape Yacht Club, CryptoPunks, and VeeFriends, have a traded volume of 380k+, 820k+, and 40.4k+ ETH, respectively, as of early this year.
In fact, CryptoPunks alone has hit over 2 billion US dollars in sales. Sounds interesting, right?
Here in this write-up, we’ll be talking about more interesting OpenSea statistics for 2024
Key OpenSea Statistics 2024
- The OpenSea platform has over 1 million users in 2024
- OpenSea has recently entered the Alexa 500 Most Visited Websites, with a total of 121.7 million views
- Over 80 million different types of NFTs are available for trade on OpenSea
- The United States contributes more than 23% to the total traffic of OpenSea
- As of early 2022, the OpenSea platform registers more than $2 billion in trading volume
- OpenSea generated a revenue of $365 million in 2021
- The NFT giant, OpenSea currently has 110 employees working for them
- The market value of OpenSea currently amounts to $13.3 billion (£9.8 billion)
- Over 80% of the free NFTs created on OpenSea are either fraudulent or spam
OpenSea Statistics 2024: Users & Usage
1. The OpenSea Platform Has Over 1 million Users in 2024
The NFT (non-fungible token) marketplace platform OpenSea is currently the largest comprehensive NFT platform across the world, continuing to amaze during the year 2024, with trading and adoption metrics on the way up.
The users of this platform can display, auction, cast, and trade a wide range of NFTs on the same. The number of OpenSea users is an important part of the NFT environment.
The NFT giant is quite easy to use, with a low usage threshold.
Guaranteeing the security of every transaction, OpenSea users can observe their NFTs on Ethereum and various other popular blockchains.
The OpenSea platform has reached a milestone based on the number of active users. As of the first quarter of 2024, OpenSea has over 1 million active users, having linked their wallets to OpenSea.
Well, not all these users participate in the trading of NFTs; however, there’s no other NFT trading platform in the marketplace having as many users as OpenSea.
2. OpenSea Has Recently Entered the Alexa 500 Most Visited Websites, with A Total of 121.7 Million Views
The NFT giant OpenSea, along with being the world’s largest non-fungible token trading platform, has recently gained another milestone.
The OpenSea platform has sealed a prestigious position in the top 500 most visited websites as of 2021 by Alexa.
When it comes to OpenSea statistics, the platform ranked 428 in the world with a total of 121.7 million views and 174 in the United States.
As per this OpenSea statistics, this website receives most of its visitors from the US (with 45.2%), accompanied by Japan (with 7.4%) and Australia (with 5.4%).
As reported by Alexa, the average time spent on the OpenSea website is roughly 18 minutes, which is quite high.
With a bounce rate of 15.8%, an average visitor scrolls through OpenSea’s 14.6 pages daily, which is not at all easy owing to the fact that it’s an NFT trading platform.
The most used keywords for the website include NFT marketplace, opensea nft, Opensea, opensea api, and open sea.
However, OpenSea generally shares its website visitors with BscScan, Etherscan, Rarible, CoinGecko, and MetaMask.
3. Over 80 Million Different Types of NFTs Are Available for Trade on OpenSea
As soon as bitcoin was established in 2009, people became more and more accustomed to purchasing and owning assets that prevail only in the digital universe.
With blockchain being a primitive technology, crypto coins allow an approach to transfer or own digital money without involving any third party.
Non-fungible tokens (NFTs) are developed on this functionality to establish new potentials centered around digital assets’ uniqueness.
While cryptocurrencies such as ether and bitcoin are exchangeable or fungible, NFTs, on the other hand, allow digital currencies that are verifiably non-convertible and unique (all thanks to blockchain technology, of course).
In a simple sentence, NFTs offer the much-in-demand non-fungibility for getting unique digital currencies and real-life currencies to the world of blockchain.
According to the latest OpenSea statistics, traders can access more than 700 NFT projects with over 80 million NFTs available for trading on the same marketplace.
4. The United States Contributes More than 23% to The Total Traffic of OpenSea
OpenSea is by far the largest NFT marketplace at the moment. Although the platform doesn’t have the highest average when it comes to the individual price of an asset, it indeed has the highest volumes.
The OpenSea platform even ruled the Ethereum burn rankings, currently numbered 58,924.
Since the beginning of 2021, the metrics of OpenSea have consistently been growing, and that too with an enormous margin.
It even recorded over 1.5 billion USD per month trading volumes as of August 2021, with the majority of its trading volume coming from the second half of 2021.
Talking about the popularity of this NFT giant across different countries of the world, the recent OpenSea statistics reveal that most of the traffic of OpenSea comes from the United States.
In fact, America contributes nearly one-fourth (around 23.01%) of OpenSea’s traffic.
The second country that uses this platform the most is Canada at 4.76%, followed by the United Kingdom at 4.26%, India at 3.31%, and Australia at 3.09%.
OpenSea Statistics 2024: Volume and Revenue
5. As Of Early 2024, the OpenSea Platform Registers More than $2 Billion in Trading Volume
We’re just a few months into the year 2022, and the NFT giant, OpenSea, is all set to break all its previous records.
The platform generated a sales volume of $243 million on the second day of this year, and that’s quite massive.
As per new OpenSea statistics, the average daily trading volume of this leading marketplace so far in 2022 is more than $260 million.
The monthly sales volume recorded in January 2022 amounts to $2 billion.
However, the figure is still to cross the ATH (all-time high) of more than $3.5 billion monthly sales volume in August 2021.
All thanks to the Series C funding round, led by Paradigm and Coatue that raised $300 million, OpenSea is setting new records in terms of sales volume.
Well, the sales volume registered after the first ten days of 2022, and there’s every possibility that January’s monthly sales volume will break August 2021’s ATH record.
As per the NFT giant, the $300 million funds will be used to meet the targeted goals, including robust product development and investment in the NFT environment.
6. OpenSea Generated a Revenue of $365 Million in 2021
Backed by a blockchain, the OpenSea platform is a peer-to-peer marketplace where goods such as domain names, gaming items, digital art, and trading cards can be traded.
It generates most of its revenue via a 2.5% service fee. The platform collects these fees whenever a non-fungible token (NFT) is sold on the same.
That’s not all; it also makes revenue through charging other various types of fees, including gas fees, initialization fees, and contract approval fees.
OpenSea charges gas fees that include computing energy costs necessary to validate and process Ethereum blockchain transactions.
Talking about the account registration fees, each new seller needs to pay these fees before registering as a seller on the platform and listing their items.
Apparently, OpenSea charges these fees to allow trading between OpenSea and the seller’s wallet.
In addition to this, any user wanting to sell an item minted via a custom NFT contract is also required to pay a non-recurring approval fee under the name “contract approval fees” for authorizing transactions.
The NFT giant generated around $365 million in 2021 via Ethereum transaction fees alone. That’s quite up from the estimated revenue of $525,000 in 2020.
OpenSea Statistics 2024: Other Important Stats
7. The NFT Giant, OpenSea Currently Has 110 Employees Working for Them
Despite being the largest NFT marketplace, holding 98% of all NFT (non-fungible token) volumes, the popular platform OpenSea comprises only 110 employees on staff.
It has two offices in San Francisco and the other in New York City (SoHo).
Two of the most notable employees of this platform include Joshua Wu (founding engineer) and Daniel Roelker (VP of Engineering).
However, the employees complain that the company needs staff.
8. The Market Value of OpenSea Currently Amounts to $13.3 Billion (£9.8 Billion)
The online NFT marketplace OpenSea declared that it is currently worth $13.3 billion (£9.8 billion) as of early 2022, following a new investment of $300 million.
It allows trading in non-fungible tokens (NFTs), rare pieces of a digital key that can be connected with a digital asset like digital art, etc.
In fact, some of the NFTs are sold for millions of dollars.
While the company says that the NFT trade on this platform increased six times over one year, some critics believe OpenSea is overvalued.
As per some trusted reports, the total value of NFT trade on the platform was estimated to be valued at $40.9 billion last year.
However, the actual value will be more considering the fact that the figure includes only revenue generated via the Ethereum blockchain.
With that being said, the global value of OpenSea is worth around $50.1 billion.
The OpenSea platform is currently powered by top firms, including Y Combinator (W18), Andreessen Horowitz, and Founders Fund.
Moreover, it’s also powered by angel investors such as Alexis Ohanian (co-founder of Reddit), Mark Cuban (entrepreneur and investor), and Kevin Durant (US-based professional basketball player).
9. Over 80% of The Free Nf Ts Created on OpenSea Are Either Fraudulent or Spam
OpenSea, the largest NFT marketplace globally, lately enforced a cap on the number of free NFTs a user can create on the platform.
It soon turned out that the company imposed this limit due to the increasing fraud and spam plaguing the NFT marketplace.
The platform recently revealed the number of fake and fraudulent NFT activities taking place in its marketplace.
It says that nearly all the free NFTs created on the platform are spam or copycats.
On 28th January 2022, the company announced a cap on NFT minting, limiting 50 free non-fungible tokens for each user.
Moreover, amid public outcry after the revelation of the news, the company tweeted that 80% of the total free NFTs created on the platform are fraudulent, spam, or plagiarized.
Other Noteworthy OpenSea Statistics 2024
Here are some quick OpenSea statistics about traffic:
- Around 63% of the traffic of OpenSea is from Direct
- Twitter accounts for approximately 61% of OpenSea’s social traffic
- 7.7% of OpenSea’s traffic comes from Referrals
- YouTube accounts for 18.8% of the social traffic of OpenSea
- Around 9.8% of OpenSea’s traffic is generated from Social Media
With that, we’re done uncovering the most interesting OpenSea statistics that you must know in 2024.
From a whopping $365 million revenue in 2021 to the total worth valuing somewhere around $13 billion, there are several numbers related to one of the largest NFT marketplaces that will leave you fascinating.
Dedicate a few minutes of your life to reading this piece and bag all the necessary information.
How do you picture the future of NFTs?