Nft trading volume

what is an opensea

OpenSea is one of the largest and most popular decentralized marketplaces for buying, selling, and trading non-fungible tokens (NFTs). It provides a platform where users can discover a wide variety of digital assets, including art, collectibles, virtual real estate, domain names, and more. OpenSea allows creators to mint their NFTs and list them for sale, while buyers can browse through a diverse range of items and make purchases using cryptocurrency. It operates on the Ethereum blockchain and has gained significant traction within the NFT community as a go-to marketplace for both creators and collectors.

opensea revenue

As of December 10 2022, Opensea has collected a total of $1.8 billion in fees for the past 365 days and earned a revenue of $571.1m, that's around 31.73% of the total collected fees.

open sea valuation

OpenSea's current valuation hovers around $1.4 billion, a steep descent from the $13.3 billion valuation it attained following a $300 million Series C fundraising round in January 2022 from both Coatue and venture capital firm Paradigm.

nft trading volume

What does volume traded mean on OpenSea？

“Volume traded” refers to the amount of currency (such as ETH) exchanged during the lifetime of the NFT Project for that particular collection. Volume traded is a good indicator of how many people know about a project because it shows how much money was spent on the project. Established collections have high commercial value.

In addition to the volume traded, OpenSea also shows the lowest prices for NFT collections or projects. Looking at the volume traded is a good indicator of the popularity of NFT collections.

For a collection to sell in bulk, there must be a demand or willingness to buy. For example, one of NFT's top projects, World of Women, has low commercial value compared to the Bored Ape Yacht Club, which has high exposure due to extensive coverage in mainstream media.

This disparity in volume shows the difference in popularity from what many consider to be the pinnacle of NFT projects (BAYC) to a well-known and highly regarded project (WOW).

Volume traded also allows us to make educated guesses as to how much money a founding team or developer will receive from second-hand sales. Two collections, each with the same trading volume, may earn different amounts of profit (from secondary sales). This value depends on the percentage the collection has set for royalty payments.

To calculate how much your project earned in royalties, simply multiply the royalty percentage (set to mint) by the volume traded.

how to buy nft

After funding your wallet, you can successfully buy NFTs and pay any transaction fees. Most NFT marketplaces list NFTs for sale in two ways: fixed-price and auction listing. Buying an NFT listed at a fixed price is an instant process, but bidding for one in an auction can take days before the auction closes.

There are two types of NFT auctions: a timed auction, which is a type of English auction, and the decreasing-price auction, also called a Dutch auction. The timed auction involves having an offer or submitting a bid and waiting to see if the seller approves your bid and sells to you. If you want to purchase a particular NFT, youll have to outbid the highest bidder.

The Dutch auction is more automated and involves the seller setting a start price, which decreases by a certain amount at regular intervals. For example, an NFT can be listed via Dutch auction with a start price of 10 ETH and set to decrease by 0.01 ETH every five minutes. Once a buyer bids at the current price, the auction closes, and the NFT is sold.

how to sell nfts

Choose an NFT marketplace and connect your wallet

Most NFT creators use popular NFT platforms to sell their assets. Choosing a trustworthy marketplace is essential, as you'll have to connect your wallet to buy or sell NFTs. If you're using the Ethereum blockchain, you might consider a well-known site like OpenSea or Rarible. Other marketplaces run reliably on the Ethereum blockchain, but some, such as SuperRare and Nifty Gateway, only allow you to sell your NFT artwork if you're invited.

Upload the file you want to turn into an NFT

Technically speaking, nearly any digital file type can be used to mint an NFT. Still, you'll want to check each marketplace and NFT-minting solution to ensure they can accommodate your files. Some will support MP4 and some won't. Similarly, authors looking to mint PDFs as an NFT will have to choose a specific blockchain and marketplace that supports this file type.

Most NFT marketplaces make it easy to upload your file. Usually, you can just click the “mint” button and select the file from your computer.

Set up your NFT listing

Fixed price. Fixed-price sales let you determine exactly how much you want to make. Rather than having potential buyers bid on your NFT, they can simply buy it for the listed price.

Unlimited auction. These auctions, also known as open auctions, let potential buyers make offers on your NFT. You can decline or accept any offer.

Timed auction. These auctions let people bid on your NFT for a specific period. At the end of the auction, the highest bidder receives the NFT. You can set a minimum purchase price to ensure your assets aren't sold for less than you want to make.

Add a description for your NFT

The description field is an excellent way to explain your inspiration and tell your story. It's important to spend time crafting a meaningful description that will impress potential buyers.

Pay the listing fee to sell your NFT

There are various fees involved with selling NFTs. In most cases, you'll have to pay a fee to list your NFT, a fee to sell your NFT, and, of course, fees when you buy cryptocurrency used to pay your NFT fees. Some marketplaces, such as OpenSea, offer a “lazy minting” service that lets you avoid some upfront fees.

Manage your listing

NFTs are immutable, so there are certain things you won't be able to change after you list them. However, most NFT marketplaces let you change the minimum price, name, description, and more.

Selling an NFT you bought

Selling an NFT on the secondary NFT market follows almost the same process, but there are differences worth noting. The NFT creator may have set a royalty fee for the asset, meaning you might pay additional fees when selling. Many marketplaces let creators set their royalties as high as 10% when their NFTs sell. Some can be even higher.

When buying an NFT to sell on the secondary market, you'll want to do your due diligence to make sure it's worth your time. Buying NFTs from new projects can be a good way to get in on the ground floor. However, you may fall victim to rug-pull schemes if you buy from unestablished NFT creators.

nft examples

1. Beeples “Everydays: The First 5000 Days”

This work is an important milestone for visual artists around the world—its the first purely NFT digital artwork that has been auctioned at a major auction house (at an eye-watering $69 million).

2.William Shatners personal memorabilia

William Shatner is a famous actor whose career spans more than 60 years. In 2020, he released a series of his personal memorabilia in the form of NFTs that features a wide array of photographs made throughout his fruitful career. He sold 125,000 units in 9 minutes.

“Theyre odd pieces — the detritus of my life, like leaving the dust of a comet behind me,” says Shatner.

3.Grimes releases WarNymph

Popular artist Grimes made $5.8 million in a matter of minutes selling her NFTs in late February this year. A collection of 10, digital assets were titled “WarNymph,” which were the product of collaboration with her brother.

Are nfts secure？

Purchasing an NFT from a reputable marketplace is generally considered safe because NFTs are stored in crypto wallets and rely on blockchain technology. However, buyers and owners of NFTs still need to consider several potential security risks. The two biggest threats are phishing attacks and malware infections.

Are nfts still popular？

How much is a nft

The current value of 1 NFT is $0.01 USD

The story of NFTs took a dramatic turn, embodying the classic narrative of a meteoric rise followed by an equally swift fall. After the frenzy of the pandemic era, the NFT market began to show signs of strain, leading to a significant downturn.

This decline was multifaceted, stemming from a combination of factors. Initially, the allure of NFTs was partly driven by their novelty and the speculative hype surrounding them. Early adopters and investors were drawn to the possibility of quick returns, with some digital artworks and collectibles selling for millions. However, the initial excitement waned as the market was saturated with an overwhelming number of NFTs and the old-fashioned economic principle of supply and demand came into play. The realization that not all NFTs would retain their value or promise significant returns started to set in, leading to decreased buyer interest and market prices.

Another significant contributor to the fall was the broader economic environment. The NFT boom coincided with economic uncertainty, with the impacts of the COVID-19 pandemic resulting in higher inflation, interest rates, and tighter monetary policy. As the world stabilized and markets returned to normalcy, the appetite for high-risk investments like NFTs began to diminish. This shift was compounded by the overall decline in the cryptocurrency market, closely tied to the NFT ecosystem. As the value of major cryptocurrencies fell, so did the purchasing power and enthusiasm of many NFT investors.

The steep decline of the NFT market can be attributed to several critical factors that, combined, led to what many describe as a bubble bursting. This downturn in the NFT space was not an isolated event but part of broader turmoil in the digital asset market, significantly influenced by significant catastrophes in the cryptocurrency industry and changing global economic conditions.

One of the critical events that sent shockwaves through the digital asset market was the collapse of Terra Luna, a prominent cryptocurrency project. Its failure eroded billions in market value almost overnight, contributing to a loss of investor confidence not just in cryptocurrencies but in associated markets like NFTs. This incident underscored the inherent risks and volatility in these emerging digital asset classes.

The FTX catastrophe further amplified this effect. As a key player in the crypto exchange domain, FTXs bankruptcy had a domino effect, causing widespread panic and a sharp decline in crypto values. This plunge in the cryptocurrency market had a direct impact on these tokens. Since most NFT trading activity used cryptocurrencies, the devaluation of these digital currencies meant that investors had less capital to invest in NFTs. The resulting liquidity crunch was a significant blow to the NFT market, which heavily relies on the health and stability of the broader crypto ecosystem.

Beyond the crypto-specific factors, the NFT markets downturn was also deeply intertwined with broader economic conditions. The world witnessed a tightening economic scenario, with rising inflation and cost of living affecting disposable incomes globally. As economies struggled to recover from the impacts of the pandemic, individuals and investors became more cautious with their spending, especially in speculative and non-essential assets like cryptocurrencies and NFTs.

This shift in economic priorities was particularly pronounced given the speculative nature of NFTs. During economic prosperity or stability, speculative investments like NFTs can attract significant interest and investment. However, in times of financial uncertainty, such as rising living costs and inflation, the risk appetite tightens. Investors and consumers tend to prioritize stability and security in their investments, avoiding volatile markets.

Combining specific disasters within the crypto world, like the Terra Luna and FTX collapses, coupled with a more challenging global economic landscape, created a perfect storm for the NFT market. The bubble that had rapidly inflated around these digital assets burst, significantly reevaluating their value and potential. This series of events is a stark reminder of the volatility and risk inherent in emerging digital asset markets.

Do people still buy nfts

In the NFT market, transactions are declining and buyers are drying up, highlighted this past Sunday with just 194,689 total global NFT transactions. This is the lowest single day of global NFT trading volume since December 24, 2022, when we saw 156,344 total global transactions

best nft investments

nft company

1.SmartMedia Technologies (SMT) is reshaping the landscape of customer engagement and loyalty to help some of the world‘s major enterprises to drive better business outcomes. SMT is the only complete end-to-end solution that bridges the gap between Web2 and Web3, having Web3 safe, easy and valuable for brands and fun, open and rewarding for consumers. Over 50 partners, including Accenture, Dentsu, NBA, PepsiCo, Unilever, Visa and WPP, leverage SMT’s enterprise SaaS engagement and loyalty platform to deliver immersive, gamified and personalized experiences - at scale. SMT also owns and operates the professional services companies FASTG8, Media Design Group and SmartMedia Labs

2.Fortress Trust is a tech company on a mission to unlock the benefits of blockchain for every business, industry, and creator. That starts (and scales) with Web3 infrastructure - the underlying technology Fortress has built to help shift from Web2 to Web3, wherever our partners may be on their blockchain, NFT, or crypto journey. Specifically, Fortress is purpose-built to deliver financial, regulatory, and technology infrastructure to the rapidly emerging ePayments and Web3 spaces. The company provides financial services, including compliance, payments, custody, trustee-of-assets, escrow, crypto liquidity, and other services.

3.Rarible：Creator-centric NFT marketplace.

4.Ava Labs makes it to deploy high-performance solutions for Web3, led by innovations on Avalanche. The company was founded by Cornell computer scientists, who partnered with Wall Street veterans and early Web3 leaders to execute a promising vision for redefining the way people build and use open, permissionless networks. Our mission is to empower people to easily and freely digitize all the world's assets on one open, programmable blockchain platform. Ava Labs is redefining the way people create value with Web3.

Top 3 NFT projects of 2024

Honeyland: face off in PvP battles as a bee

Do you hear the bees buzzing？ Honeyland is a game centered on managing a virtual swarm of bees to earn Honey ($HXD), the in-game currency. You send your bees on harvesting missions, hunt for honeypots, breed new bees, and engage in player-vs-player (PvP) battles.

Harvesting involves players collecting Honey ($HXD) by sending bees to gather resources. Hunting involves searching for honeypots filled with valuable shards, which can be exchanged for items to enhance your bees and the wider gameplay.

Breeding allows players to grow their swarms by creating new bees, adding variety and strategic depth to the experience. PvP battles offer competitive gameplay, where players raid other hives to steal Honey, adding a risk-reward opportunity.

Land ownership rewards players with commission and weekly airdrops when others use their land for hunting and harvesting. The Game Mall offers mini-games where players can use Honey and Zzubs for gaming experiences and cosmetic upgrades.

Honeyland is accessible with a free-to-play model and a starter Hive, appealing to casual and serious gamers.

Metropoly: NFT marketplace for real estate properties

Metropoly NFT could be the right choice if you're a real estate lover. It's a blockchain concept providing users with access to the hottest real estate properties as NFTs. Each property is tokenized and uploaded to the blockchain network. Users can buy fractions of these properties from there and earn passive monthly income.

Metropoly is accessible by anyone anywhere and at any time. Participants can enter and interact within the metaverse for as little as $100. Users can begin to diversify their portfolios in the real estate industry and earn passive returns. Whats even more interesting is that each NFT property is denoted as a share. It can also be sold off anytime to meet the liquid needs of its holders.

Many consider the real estate NFT space to have plenty of promise. In April 2023, Metropoly raised over $1.1 million for its NFT marketplace, backed by real estate assets. While the project's blog isn't up to date, it's best to get updates on its X account, where Metropoly is active.

Polygon Doodles: a Polygon-native NFT collection

Polygon Doodles is essentially a replica of the popular Doodles NFT collection. With its animated box piece, the collection differs from its counterparts. Each box features a visually appealing NFT piece that levitates. Once a user purchases the box, they get to unveil a unique NFT inside it.

There are currently 10,000 Polygon Doodles, each having different traits, color combinations, and unique attributes. It presents a unique opportunity to gain exposure to NFTs linked with the top Ethereum scaling solution. Since July 2023, there's been a 2,023 claimed supply and 7,977 unclaimed supply of Polygon Doodles