OpenSea Generated $144 Million in Q3 Despite NFT Market Lull

Source: AdobeStock / denisismagilov

Regardless of the ongoing market downturn, non-fungible token (NFT) marketplace OpenSea has were able to report some $144.5 million in charges for that third quarter of the year. 

Between This summer and September 2022, the company published revenues of some $35 million, as shown by figures released by crypto asset data platform Token Terminal.

The positive figures for that third quarter of the year are great news for the organization behind industry, OpenSea LLC, but in addition for the legions of NFT creators who’ve effectively offered their tokens through OpenSea throughout the three-month period. 

“Where did all of those other money visit? The creators,” Token Terminal tweeted.

Simultaneously, it should be noted the latest results as reported by the earth’s first NFT marketplace are considerably less than individuals OpenSea was posting prior to the current downturn. Data released by crypto analytics business Dune Analytics implies that in The month of january 2022, the woking platform reported a regular monthly product sales of $4.86 billion price of ethereum (ETH), its record level up to now.

Meanwhile, industry continues to consider new streams of revenue by creating partnerships with major entertainment industry players for example Warner Group (WMG). A week ago, OpenSea and WMG unveiled they-up, declaring it might “provide a platform for select WMG artists to construct and extend their fan communities in Web3”. 

Included in this cooperation, WMG artists should be supplied with early use of OpenSea’s new drops product, enhanced discoverability, too personalized storytelling on customized squeeze pages, based on the a couple.


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