NFT Sales At OpenSea Skyrocket To Rp55 Trillion, Set New Record!

NFT sales on OpenSea skyrocket (Cryptoblockchainreport)

JAKARTA - Non-fungible tokens or NFTs are increasingly loved in the new year of 2022. Thanks to the rise of the digital asset, its sales on the largest and most popular NFT marketplace, OpenSea set a new record in terms of monthly trade volume in January 2022.

According to crypto-analytic site Dune Analytics, data on the total value of NFT trading volume on the Ethereum OpenSea blockchain has exceeded the nominal value of US$ 3.85 billion or around Rp. 55.4 trillion in January 2022. This figure is the largest trading volume on the Ethereum blockchain and the highest in history. presence of NFT.

This achievement has also surpassed the previous record monthly trading volume at OpenSea, which was USD 3.24 billion or around IDR 46.6 trillion in December 2021, as well as USD 3.42 billion or IDR 49.2 trillion in August 2021.

The trading volume on the Ethereum blockchain on OpenSea, when viewed daily, for the first month of 2022 reached 169 million US dollars or around Rp. 2.4 trillion. In fact, the daily transactions in January 2022 had reached its highest peak on January 9, 2022 with a total of 261 million US dollars or equivalent to Rp. 3.7 trillion.

The volume of NFT is increasing over time, indicating that now more and more people are interested in NFT assets and also more and more people are buying and selling NFT.

For information, Dune Analytic's NFT trading volume value data only comes from NFT on the Ethereum blockchain on the OpenSea site. The figures above do not include marketplaces and other blockchains. So, the value of NFT transactions for the month of January could be much higher than the numbers above.

NFT Trading Throughout 2021

Non-fungible tokens (NFT) are derivatives of crypto, but unlike coins that have a fixed value, for example one Bitcoin is equal to one Bitcoin, NFT has a different value in each form. NFT is usually in the form of photos, videos, recorded music or other virtual forms.

NFT assets are traded across multiple channels. The first is the blockchain, or in a digital "ledger" similar to the network that supports Bitcoin, Ethereum, and other crypto assets. NFTs can also be traded off-chain, for example at auction houses. This is what causes the volume of NFT transactions to vary from one another, depending on the origin of which transactions are included in the calculation.

The concept of NFT has actually been around for a long time. However, the first NFT that was created was only eight years ago or 2014. The year 2021 seems to be the golden year of NFT. The reason is, non-fungible tokens are increasingly in demand by many people.

Compared to previous years, NFT experienced a rapid increase to a record high. According to data from the NonFungible site, NFT recorded sales of more than 12 billion US dollars or around Rp. 172.7 trillion only on the Ethereum blockchain in 2021, as mentioned by Business Insider. That figure represents NFT sales growth from several years. There is an increase of 17,864 percent when compared to 2020 which only reached US$67 million or in the range of Rp964 billion.