Nifty News: OpenSea dominance fades, Azuki skateboards fetch $2.5M and more By Cointelegraph

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Nifty News: OpenSea dominance fades, Azuki skateboards fetch $2.5M and more

Cryptocurrency Oct 24, 2022 01:00AM ET

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Nifty News: OpenSea dominance fades, Azuki skateboards fetch $2.5M and more

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Nonfungible token (NFT) marketplace Opensea has seen its competitors chomping at its ankles this year as they gain market share — turning the market from a “monopoly” into an “oligopoly," a new report states.

Binance Market Pulse released on Oct. 20 says there has been a slow and steady change in market leadership, noting that while OpenSea is still the dominant marketplace in terms of users and volume, Ethereum (ETH)-based exchanges X2Y2 and Looksrare have been gaining their share of the market over 2022.

OpenSea’s market dominance in terms of volume peaked in May 2022 but has seen a decline since. Image: Binance

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Nifty News: OpenSea dominance fades, Azuki skateboards fetch $2.5M and more

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