January 3, 2023

Over 1.3 Million Polygon NFTs Sold on Opensea in December

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polygon-opensea

Opensea announced that it sold more than 1.3 million Polygon NFTs in December 2022, with transactions amounting to over $15.3 million from 116,000 active users, CryptoNewsZ reported.

Based on NFTs sold for each active trader, December was the third-highest month. Despite the high sales of Polygon on the world’s largest NFT marketplace, Opensea lost 23% of its dominance throughout 2022, in addition, the total number of NFT transfers during the year slipped by 25%.

The number of NFT transfers on Opensea hit 80,000 at the beginning of 2022, but the number continued to decline to reach 60,000 by December 31. The market share of Opensea was also significantly affected as it recorded 50% of the overall market share of NFTs by the start of 2022 and decreased to 33% by the end of the year.

However, traders expect that Opensea would come back in the coming few months in light of the growing popularity of Polygon NFTs.

In general, the value of global NFT sales plummeted by 76% year-over-year (YoY), recording $638.4 million in December 2022, according to CryptoPresales.com.

According to NFT collectibles data aggregator CryptoSlam, the value of NFT sales in December 2021 recorded $ 2.8 billion, a number that reflects the effect of the crypto bear market in 2022 on NFT sales. After recording a high level in January worth $4.77 billion, the NFT sales began to fall remarkably in the following months.

The NFT sales in October recorded a notable drop when they reached $460 million to recover again and hit $638.4 in December. According to data by Cryptoslam, the average sales value decreased to $144.9 in December 2022, compared to $384.4 in the same period in 2021, showing a 62% drop YoY.

Moreover, the NFT market witnessed a massive drop in the number of active wallets, which went down 80% in December in addition to a decline in the number of unique buyers and sellers.

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