Diving into OpenSea.io & NFT Data
What is OpenSea?
OpenSea is a peer-to-peer marketplace for crypto collectibles and non-fungible tokens (NFT’s). It includes collectibles, gaming items, and other virtual goods backed by a blockchain. On OpenSea, anyone can buy or sell these items through a smart contract.
What is Dune Analytics?
Dune Analytics is a tool for blockchain research. It can be used to query, extract, and visualize vast amounts of data on the Ethereum blockchain. Today we are going to use it to check out OpenSea data.
Lets look at some statistics for the OpenSea Marketplace
As you can see from the above chart, volume and interest for NFT’s has been growing exponentially the past year and on OpenSea alone:
Active traders have increased from 3,000 in July 2020 to 116,000 in July 2021
NFT’s sold went from 7,200 in July 2020 to 750,000 in July 2021
Monthly volume has risen from under 1 million USD to well over 1 billion USD.
What we are watching unfold is the start of the NFT industry and its acceptance in society, how the next 12 months plays out — I don’t know, but I do know that in the next 5–10 years NFT’s will be integrated into most games, there will be ecosystems within online games and earning money online may be as simple as playing a game you enjoy.
