OpenSea Hits 1 Million Active Users

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Leading NFT marketplace OpenSea has now surpassed the 1 million active user wallet mark.

By doing so, the company has further solidified its position as the primary NFT marketplace in the domain. It now has an a market cap of $13.3 billion.

OpenSea boasts a user-friendly interface allowing investors and beginners to navigate the vast expanse of NFTs in a simplified manner.

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OpenSea Hits One Million Active User Wallets

According to data from Dune Analytics, OpenSea has now crossed 1 million active user wallets, establishing its position as one of the leading marketplaces to facilitate NFT trading.

The news comes amid OpenSea successfully exhibiting a rising trend of trading activity at the start of 2022. The platform reported nearly $2 billion worth of trading in the first couple of weeks of 2022.

If the trend continues, it could indicate OpenSea's potential to break its previously set records in terms of user activity.

In terms of ownership, the most-owned NFTs on OpenSea are the Ethereum Name Service, Rarible NFTs, and CryptoKitties. These have 223k, 202k, and 112k owners, respectively. Axie Infinity NFTs are also high on this list, with 45.3k owners.

However, CryptoPunks and the Bored Ape Yacht Club NFTs have the highest volume of any assets on the marketplace.

In early January, the company secured successful Series C funding round of $300 million through prestigious firms Paradigm and Coatue. The funding round enabled OpenSea to become one of the leading players in the domain of non-fungible tokens after placing its valuation at a staggering $13.3 billion.

The NFT market saw an explosive rise in 2021 where the sector capped nearly $23 billion in trading value. With such accelerated support from global premises, the NFT market is expected to rise higher in 2022, as predicted by numerous financial and crypto analysts.

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