OpenSea is first NFT marketplace to pass $1 billion in monthly trading volume 

The non-fungible token (NFT) marketplace OpenSea has surpassed $1 billion in monthly trading volume, according to data compiled by The Block. 

OpenSea’s trading volume increased 286% from July to August, and it has carried the majority of NFT monthly trading volume since May of this year. The firm has already seen $1.23 billion in volume this month, while the entire marketplace has seen $1.27 billion. 

The platform’s record trading volume also coincides with all-time high search interest on Google, The Block previously reported. In other words, search interest for “OpenSea” is the highest it can be for the first time ever. 

OpenSea, a New York-based firm founded in 2017, hit a $1.5 billion valuation at the end of July. It raised $100 million at its most recent Series B funding round and $23 million in Series A, with the venture firm Andreessen Horowitz led both of its prior funding rounds. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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