OpenSea, the largest NFT marketplace, has surpassed the one million mark in terms of active user wallets on the platform.
Non-fungible token (NFT) marketplace platform OpenSea continues to impress during the new year, with adoption and trading metrics on the rise. The NFT giant has reached a new milestone in the number of active users on the platform.
Data from Dune Analytics on Thursday, January 13, 2022, indicated that OpenSea has now crossed one million active user wallets on the platform.
After experiencing significant expansion last year, the milestone is the latest indication of OpenSea’s sustained growth in the early days of 2022. Thursday’s announcement follows claims that the platform has witnessed over $2 billion in trading volume since the start of 2022, and is on track to set a new monthly trading volume high.
OpenSea raised $300 million in a Series C fundraising round earlier in January 2022, according to Devin Finzer, the company’s co-founder.
OpenSea now has a market capitalization of $13.3 billion, up from $1.5 billion in July 2021.
OpenSea’s meteoric rise to 2022 corresponds to the high amount of NFT-related activity that has marked the year.
While the platform’s dominance remains unmatched, OpenSea could come in for some competition from upstarts like LooksRare. The latter recently launched its marketplace with an airdrop for users.