NFT
OpenSea, the world’s largest NFT marketplace, has managed to maintain the status quo by attracting the majority of Polygon’s NFT business over the past three months. In the digital asset market, as of February 4, 2023, 88% of Polygon NFT transactions were executed on its platform.
The market stats around Polygon NFTs have been dominated by OpenSea for the past three months. Whether it’s total transactions, market share or transaction value, OpenSea leads the way on every front. Ansubin.eth, who works for the blockchain research group Decipher Global, recently took to Twitter to share the stats.
Source: Dune analysis
According to data collected from Dune Analytics by Ansubin.eth, OpenSea accounted for 88% of Polygon NFT’s total transactions in the past three months, with more than 1.8 million transactions. The next rival in the NFT marketplace was Tofu, with 180,352 transactions in the same period.
OpenSea also accounted for more than 95% of the total amount spent on Polygon NFTs since February 4, 2023, raising more than $151 million. Magic Eden was the second largest road in terms of transaction amount for Polygon NFTs, with a dollar value of $4.9 million. Meanwhile, more than 330,000 buyers lined up to trade Polygon NFTs on OpenSea.
On May 2, 2023, total Polygon NFT transactions on OpenSea reached a 9-week high of 44,611 one-day transactions. However, Dune Analytics’ market share graph indicated that OpenSea is losing its dominance over rival NFT marketplaces such as Tofu and Magic Eden. The booming NFT business appeared to have little effect on the network’s native token MATIC, which has lost more than 20% since February 4, 2023.