OpenSea marks the end of Q3 with US$144 million in earnings

76% of the earnings went to creators on the OpenSea platform.

October 05, 2022 - Tom Peters

Blockchain data aggregator platform Token Terminal tweeted on Sunday that OpenSea realised US$144.5 million from user fees over the course of the last quarter. However, most of the revenue went to creators on the platform (about 76%) while OpenSea got US$35 million.

The non-fungible token (NFT) market has been negatively affected by the wider crypto market decline and a decreased interest in NFTs among other factors. This fact is reflected by OpenSea’s sales volume history throughout the year.

NFT sales volume on OpenSea dropped from US$5 billion in January to approximately US$349 million in September, according to data from Dune.

Overall NFT sales performance in September

NFT sales across different blockchains dropped in September compared to the month before. NFTgators reported that the overall NFT sales volume in September was US$1.26 billion, falling by 24.4% from the August volume.

Ethereum–based NFTs contributed the most to the total NFT sales volume, making up about 88%. Although, it is a decline compared to its 95% share in August.

Meanwhile, Solana NFTs look to be gaining more popularity. It made up about 10% of the overall NFT sales volume in September – more than double what it represented in the previous month (4%).

'AVAX NFT vol saw a 47% rise compared to Aug, with over $1.8M in Sep. BNB NFT vol saw a 27% decrease compared to Aug, with over $5.9M in Sep,' @NFTgators also tweeted.

NFTgators also reported the change in the overall number of NFT users between August and September, noting a negligible 0.5% increase between the two months.

NFT market performance in October

It’s still early days, but NFT volumes across various chains have varied in the past 24 hours. At the time of writing, ImmutableX and Flow NFTs have seen some of the biggest sales over that period. IMX recorded a 102.6% change with an NFT sales volume of US$846,783, while Flow saw a 65.29% change, with $506,351 in sales.

Solana also witnessed a positive change of 9.3% with US$2,565,958 in sales volume. Ethereum, the biggest NFT chain recorded an 18.94% in sales volume making US$9,476,444.

The above data was sourced from Cryptoslam.

Photo: TechCrunch