While non-fungible token (NFT) sales have been declining since the beginning of the year, the top 5 marketplaces with the highest sales ever reached over $40 billion. Additionally, NFT marketplace platform Opensea has earned $32 billion worth of sales as the NFT marketplace currently dominates the top 5 he NFT marketplaces by 79%.
Top 5 NFT Markets Exceed $40 Billion With Record Revenue, Opensea Dominates 79%
During October, the top five NFT marketplaces surpassed $40 billion in sales at approximately $41.36 billion on October 29, 2022. The largest NFT marketplace by sales was Opensea. $33 billion range including Saturday’s record $32.76 billion.
statistics dappradar.com shows that $32.76 billion in sales were executed by $2.34 million traders. On Saturday, October 29th, the average price paid to NFTs via Opensea is around $352.
Opensea is followed by Axie Marketplace ($4.26B), Magic Eden ($1.83B), Lookrare ($1.62B) and X2Y2 ($891M). Axie Marketplace tends to feature NFTs originating from the Play-to-Earn (P2E) blockchain game Axie Infinity, with 2.17 million traders on the market so far.
The average price paid for an NFT via the Axie Marketplace is around $171. Solana’s Magic Eden earned her $1.83 billion in sales settled by 1.21 million traders. The average payout for her NFTs at Magic Eden on Oct. 29 is $124.
NFT marketplace Luxlare has seen a drop in the number of traders, with records showing 107,636 payment transactions through the Luxlare marketplace. However, the average price paid for his NFTs on Saturdays is much higher as his NFTs average sale on Lookrare is $6.59K.
X2Y2 has yet to hit 1 billion NFT sales, but they are nudging towards that milestone. On October 29, 2022, NFT Market X2Y2 settled $891 million among his 158,273 traders. The average price paid for an NFT in X2Y2 is around $582.78 at the time of writing.
The best NFT marketplaces of all time include Mobox ($694 million), Solanart ($665 million), Blockobay ($458 million), Atomicmarket ($435 million), Immutable X Marketplace (3 $37 million) and Rarible ($300 million). Respectively. Surpassing his $40 billion in lifetime sales in the top five markets despite a significant drop in monthly sales is quite a feat.
data Global NFT sales totaled $426 million over the past 30 days, down 21.32% from the previous month, according to cryptoslam.io. In the last 30 days, approximately 4,556,057 NFT transactions occurred among 510,859 NFT buyers.
What do you think of the top 5 NFT marketplaces with all-time NFT sales exceeding $40 billion? Let us know what you think about this in the comments section below.
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