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OurNetwork #151 (Part 2)
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OurNetwork #151 (Part 2)

Coverage on NFT Marketplaces.

Spencer Noon
Jan 6
Share this post
OurNetwork #151 (Part 2)
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Continued from Part 1.


④ OpenSea

👥 Panda Jackson

📈 31% of collections accept OpenSea's new royalties policy

🔗 Website | Discord | Jobs | Dashboard

  • In spite of the frigid NFT winter, OpenSea has remained Ethereum’s leading NFT marketplace and boasts a dominant marketshare vs. its competitors when it comes to users (70%) and sales (60%). While its monthly trading volume peaked at $4.8b (1.6m ETH) in early 2022 before declining in June and then seeing a yearly ATL in November ($255m or 194k ETH), there has been a noticeable recovery recently. Declines on unique traders and trade counts were much smaller at ~40%. Unique traders fell from 500k to 300k, whereas trade counts fell from 2.4m to 1.5m. In 2022, 93% of trades on OpenSea honored royalties, compared to 19% on other marketplaces, which has made it extremely attractive to creators.

Source: Dune Analytics - @pandajackson42
  • OpenSea's new royalty policy officially started this week. NFT collections must block royalty evading marketplaces in smart contracts to be eligible for assured royalties on OpenSea. During trial period, 31.6% of new collections abide by the new policy. Adoption rate rose progressively, from 14% to 40%.

Source: Dune Analytics - @pandajackson42
  • The new policy increased OpenSea's market share. OpenSea occupied 83% of volume, and 91% of trades among royalty enforced collections. Whereas the numbers for other collections were 59% and 79%, respectively.

Source: Dune Analytics - @pandajackson42


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