OpenSea Statistics in 2022: Usage, Revenues & More
Just a couple of years ago, NFTs seemed like an abstract concept that not many people could have access to.
OpenSea changed that forever: it has become the way-to-go NFT marketplace for users all over the world.
Crypto collectibles and peer-to-peer transactions that involve digital assets are part of our lives now, and OpenSea is the bridge that connects you with rare and unique tokens.
But you probably never heard about NFTs five years ago, and neither did we! So, how did OpenSea become the largest marketplace for NFTs as of today?
In order to understand OpenSea and the NFT boom, we must take a look at the most relevant statistics related to this platform.
Continue reading to get more information about:
- Most relevant OpenSea statistics in 2022;
- Understanding OpenSea’s success;
- What can we expect for OpenSea in the future?
What is OpenSea NFT Market?
OpenSea is an NFT marketplace where people can sign in, mint tokens, sell assets, purchase collections, and more.
The data shows that, when it comes to popularity, OpenSea is the number one marketplace for NFT purposes.
The news widely accept OpenSea as the main source of collections, and although there are other marketplaces out there, we can all agree that OpenSea has the biggest impact of them all.
Pro Tip: NFTs and gaming are blending together to create Play-to-Earn experiences.
Although Esports Statistics show that competitive gaming is now a billion-dollar industry, we can also expect NFT to grow in the near future.
OpenSea Key Highlights
In order to understand the influence of OpenSea and NFTs, it’s important to take a look at some quick statistics that serve as appetizers to this world:
- Tendencies show that NFTs will go mainstream in 2022, and OpenSea leads the way for newcomers to get into this world;
- Worldwide media has named OpenSea as the “eBay of NFTs”, which confirms the enormous relevance that this marketplace will have during the years to come;
- In late 2021, a Bored Ape Yacht Club NFT was sold on OpenSea for almost $3 million.
OpenSea Users
OpenSea operates in a decentralized environment. As a consequence, all users can create an account just by clicking on “Connect Wallet” inside the platform.
Fortunately, the platform offers general reports regarding their users’ number, which grows with every week that passes.
How Many Users Use OpenSea?
As of 2022 Q1, OpenSea has more than 600,000 users that have connected their wallets to the platform.
Although not all of them participate in sales and purchases, the truth is that no other marketplace has as many users as OpenSea.
OpenSea User Demographics
According to SimilarWeb, we can divide the analytics of the site into traffic that comes from the following countries:
- More than 23% of OpenSea’s traffic comes from the United States;
- Canada and the United Kingdom follow next, with 4.76% and 4.26% of monthly traffic, respectively;
- India and Australia fight for the third place, with 3.31% and 3.09%, respectively;
- At last, other Asian, American, and European countries complete the traffic list.
OpenSea Usage
As of Jan 2021, SimilarWeb shows that more than 121.7 million individuals go to OpenSea website on a monthly basis.
When it comes to usage, there are more than 80 million NFTs available on the marketplace and 2 million collections for sale.
Read Also: Social Media and Ecommerce are meant to be together and these Social Commerce Statistics in 2022 prove it.
Check out our related article to get more information about this topic!
OpenSea Transaction Volume
Finishing August 2021, OpenSea experienced an all-time record of $3.5 billion on trading volume for the NFT inside the marketplace.
If we compare these numbers to June and July 2021, we can see that there was an 800% growth in trading volume.
You can get more precise information about OpenSea’s transaction volume on Dune Analytics website by clicking here.
What Are the Most Traded Items on OpenSea?
OpenSea has it all: NFTs can go from simple images to complex audio files. Note that almost every digital asset can be minted on the blockchain.
Naturally, some projects are created for meme purposes, and others do have a bigger goal that transcends its simple uniqueness.
According to OpenSea Ranking, the most popular NFTs on the platforms are:
- CryptoPunks;
- Bored Ape Yacht Club;
- Decentraland;
- Mutant Ape Yacht Club;
- Art Blocks Curated.
Likewise, specific items for trading volume change all the time.
For instance, some NFT collections on the Metaverse experience popularity trends depending on what’s going on in the market.
OpenSea Revenue
OpenSea does not offer official revenue numbers on their website nor any other platform.
Nonetheless, GrowJo managed to estimate their earnings by analyzing different factors that directly affect the income of a company.
According to GrowJo, OpenSea’s estimated annual revenue is $1.2 billion each year, from 2021 forward.
Pro Tip: Some platforms, such as OnlyFans, started to experience a massive growth in 2020’s pandemic.
On the other hand, the NFT boom took place in 2021, so different factors influenced their success. Check out some cool OnlyFans Statistics in 2022 here.
How Does Opensea Make Money?
OpenSea makes money from service fees. Whenever sales take place, the platform takes a small commission from the participating parties.
OpenSea’s Business Model has proven to work in the past, and since the platform lowered services fees from 3.5% to 2.5%, users have found an ally in their NFT sales processes.
Opensea Valuation & Funding
As of Dec 2021, TechCrunch news shows that OpenSea valuation is now $13.3 billion.
Back in July 2021, the platform was valued at $1.5 billion, so the growth was unprecedented.
Naturally, funding rounds have heavily influenced the value of the platform.
OpenSea’s funding rounds help the platform to keep growing, providing users with new features (inbox conversations, new UI, and more) and better functionalities on the platform.
Who Are the Main OpenSea investors?
According to Crunchbase’s data, OpenSea has had a total of 9 funding rounds during the last 4 years, raising over $427 million in fundings.
The main investors and rounds are the following:
- In January 2022, Series C transaction raised $300 million with Coatue as main investors;
- Series B funding round in July 2021 raised $100 million, with Andreessen Horowitz as the main investor of this round. The capital firm also was the main investor back in May 2021 funding round, which raised $23;
- Going back to the Seed Rounds, which took place in 2018 and 2019, the platform raised $2.1 million from gumi Cryptos Capital (gCC).
OpenSea Company Info
The data we have shown you so far presents you with the business side of OpenSea. But, who are the people behind this NFT marketplace?
Who Owns Opensea?
OpenSea was founded by 2 co-founders: Alex Atallah (CTO) and Devin Finzer. They own approximately 18.5% of the company.
It started back in 2017 as a way-to-go place to obtain CryptoKitties assets, but it has dramatically changed since then.
How Many Employees Does OpenSea Have?
As of 2022 Q1, OpenSea claims that they have 70 employees working to improve the platform in every way.
They expect to increase the number of workers in 2022, as stated on their official OpenSea Careers page.
Where is OpenSea Located?
OpenSea is headquartered in New York, with a primary office at 228 Park Avenue South, NY 10003.
OpenSea in 2022 and Beyond
OpenSea is the King of the NFT Market and will continue to be during 2022 and beyond.
Although market competitors, such as LooksRare and Rarible, are also starting to get trendy, the truth is that the community has widely adopted OpenSea as the main NFT source.
The world has changed forever thanks to Non-Fungible Tokens, and OpenSea leads the revolution in every way.
We can only expect this platform to get bigger and more mainstream as time passes.
So, what are you waiting for?
Sign to the platform, do your own research, Get Verified on OpenSea, and explore an endless sea of possibilities.
For more useful OpenSea, NFT, and crypto insights, you can always rely on GrowFollowing.
Opensea Stats FAQ
Is OpenSea Safe?
Yes, it is. Nonetheless, it is safe to mention that OpenSea does not store your NFTs - they are saved on your connected wallet.
That’s why we highly recommend moving your assets to a hardware wallet, such as Ledger. Learn how to do this by reading our Transfer NFT from OpenSea to Ledger blog post.
How Can I Buy Bored Ape Yacht Club on OpenSea?
You need to have some ETH on your wallet, connect it to OpenSea, and look for the BAYC collection.
Learn how to do this by checking our How to Buy Bored Ape NFT article.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.
Oliver is Hypegrowth founder and covers topics ranging from fintech to Internet.