The Top 5 NFT Marketplace Exceeds $40 Billion in All-Time Sales

The top five NFT marketplaces have reached over $40 billion in sales, although non-fungible tokens (NFTs) haven’t been growing since the beginning of the year.

Furthermore, Opensea dominates the top five marketplaces by 79%, having captured over $32 billion in sales.

The Biggest NFT Market Place, Opensea

As of Oct. 29, 2022, the five largest NFT marketplaces had all-time sales worth $41.36 billion, surpassing the $40 billion mark.

Opensea reported sales of $32.76 billion almost  $33 billion on Saturday, making it the largest NFT marketplace in terms of sales.

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On Saturday, Oct. 29, statistics indicate that $2.34 million traders executed $32.76 billion in sales, at an average price of $352 per NFT via Opensea.

After the Opensea there are  the Axie Marketplace ($4.26B), Magic Eden ($1.83B), Looksrare ($1.62B), and X2Y2 ($891M).

 Axie Marketplace is home to NFTs derived from the play-to-earn (P2E) blockchain game Axie Infinity, which has seen 2,17 million traders to date.

Others NFT Marketplace

An NFT on Axie Marketplace costs an average of $171, whereas Solana’s Magic Eden has recorded $1.83 billion in sales, and a sale on Magic Eden costs an average of $124.

It appears that Looksrare has had fewer traders, as 107,636 settled trades were recorded there, but the average price paid for an NFT on Saturday was much higher at $6.59K.

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The NFT market X2Y2 did not reach a billion dollars in sales yet, but it has been edging its way toward that milestone. On Oct. 29, 2022, 158,273 traders settled $891 million among themselves.

Other top NFT marketplace when it comes to all-time sales are Mobox ($694M), Solanart ($665M), Bloctobay ($458M), Atomicmarket ($435M), Immutable X Marketplace ($337M), and Rarible ($300M) respectively.

The top five markets achieved more than $40 billion in lifetime sales despite a large decline in monthly sales.

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Jamilatul Mahmudah

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