The all-time sales of Non-Fungible Tokens (NFT) in the top five NFT marketplaces has surpassed $40 billion, according to dApp and NFT tracker DappRadar. The marketplaces have reported sales to the tune of $43.44 billion, approximately. OpenSea dominates the top five with close to 75% of the market share, as of today.
The top five NFT marketplaces are OpenSea, Axie Marketplace, CryptoPunks, Magic Eden, and LooksRare.
Over 2.34 million traders, statistics from DappRadar show, bought NFTs valued at $32.77 billion on OpenSea. As many as 2.1 million traders bought NFTs worth over $4.26 billion on Axie Marketplace; 7,162 traders bought NFTs worth over $2.96 billion on CryptoPunks; and 1.2 million traders bought NFTs worth over $1.83 billion on Magic Eden. LooksRare came in last with around 107,000 traders buying NFTs worth over $1.62 billion on its site.
The average NFT price paid on OpenSea is $352. That number changes to $171 on Axie Marketplace. The average prices on Magic Eden and LooksRare are $124 and $6.59K, respectively. CryptoPunks pocketed the highest average price paid per NFT with traders paying $132K for each NFT on average on the platform.
The drop in the price of cryptos has partially impacted the sales and NFT price. The third quarter of 2022 saw NFT sales plummet to $3.4 billion. In Q2, the same sales figures were at $8.4 billion. NFT sales were at their peak of $12.5 billion during the first quarter.
The last 30 days’ statistics suggest that X2Y2, an NFT marketplace built on Ethereum, has become the second-largest NFT marketplace after OpenSea. In October 2022, X2Y2 netted close to $67.2 million in NFT sales compared to $309 million on OpenSea.
Meanwhile, Axie Marketplace fell to the 9th position in terms of the trading volume.
Recently, the popular content aggregator platform Reddit also reported a surge in NFT sales. Some collections managed to sell for floor prices above $2,000. A Spooky Season avatar by pseudonymous artist poieeeyeee was sold for the highest price of 18 ETH (about $24,150).