5 NFT marketplaces that could topple OpenSea in 2022 By Cointelegraph

5 NFT marketplaces that could topple OpenSea in 2022

Cryptocurrency Jan 10, 2022 07:20PM ET

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5 NFT marketplaces that could topple OpenSea in 2022

OpenSea has been the dominant decentralized platform for users looking to mint, buy, sell and trade nonfungible tokens (NFT). Serving more as an NFT aggregator than a gallery, OpenSea locked in $3.25 billion in volume for December 2021 alone, according to data from Dune Analytics, and from December 2020 to December 2021, the total volume increased by a whopping 90,968%.

No stranger to contention and criticism, OpenSea has had its fair share of perils and pitfalls. Most notably, its former head of product, Nate Chastain, was found using insider information to front-run and profit from selling the platform’s front page NFTs.

Monthly active traders on OpenSea. Source: Dune Analytics

Monthly volume (primary vs. secondary) sales. Source: Dune Analytics

OpenSea on-chain data. Source: DappRadar

Magic Eden on-chain data. Source: DappRadar

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