Learn all about OpenSea’s user statistics and facts – Monthly & daily active users, valuation, demographics, founders & much more.
Just as many people were warming to the ideas of cryptocurrencies, NFTs (non-fungible tokens) came to change the game. As more people toss around the idea of owning NFTs, OpenSea launched their platform as a marketplace for this new global interest.
Launched in 2017, OpenSea is the first NFT marketplace in the world. Its pioneer status has enabled the company to become the largest among its emerging competitors, even among the already big names in the industry. The open system employed by the founders also encourages creatives, investors, and other people interested in NFT to visit and transact on the website.
Knowing this, here are some stats you need to know about OpenSea. Some of these facts are common knowledge, while others have been curated specially for this list. These facts will highlight some of the elements that distinguish OpenSea and make the company thrive. So let’s get to it:
1. What is OpenSea?
OpenSea is a non-fungible token (NFT) marketplace, and it is the first of its kind. Compared to competitors, OpenSea has a large share of the NFT market due to its early launch. Furthermore, being a marketplace for NFTs, you can create, buy or sell various tokens on OpenSea without a hassle.
OpenSea has gained such a hold in the industry now that it is known as eBay for cryptocurrencies. People go to OpenSea to buy different items supported on blockchains such as gaming items, collectibles and other goods.
2. When was OpenSea launched?
OpenSea was launched in 2017 by Devin Finzer and Alex Atallah. The company started in New York City, now the headquarter before another office was opened in San Francisco. The beta version of OpenSea launched in December 2017. At this point, it was the first open marketplace for NFTs on the Ethereum blockchain.
3. How many users does OpenSea have?
The growth in the number of users within a year is linked with the rise of NFTs. As a result, the platform gained attraction from users who were looking to trade NFTs.
4. OpenSea is valued at $13.3 billion
OpenSea is currently valued at $13.3 billion. The company’s value grew tremendously over the past years, especially in 2021. The recent widespread interest in NFT has also helped the company grow financially. The Series C funding round led by Paradigm and Coatue saw OpenSea’s value increase by $300 million.
This latest round helped OpenSea achieve a financial landmark that Devin Finzer, one of the founders and the company’s CEO, said will facilitate four main goals. These goals are to improve customer support, increase product development, invest in NFT/Web 3.0, and grow their team. OpenSea has had nine funding rounds and is backed by big firms such as Andreesen Horowitz, Y Combinator, and Founders Fund.
5. How much revenue does OpenSea have?
Apart from the company’s valuation, which currently sits at around $13.3 billion, OpenSea recorded a revenue of $365 million in 2021. This amount is a rough calculation of the 2.5% the company takes out of every transaction on its platform. OpenSea’s Ethereum transactional value was estimated at around $14 billion in 2021, pegging its revenue around $365 million.
This figure is a big increase from its 2020 revenue, which was $525,000. This amount calculates the 2.5% transaction rate against the year’s total transaction volume, which was $21 million. The leap in revenue shows how much OpenSea has grown in one year.
6. How many employees does OpenSea have?
Officially, OpenSea has about 70 employees. These include employees in both of the company’s offices located in New York City (SoHo) and San Francisco. However, the company is always looking to increase its numbers and bring in more people to help achieve its goals. You can apply for any of the positions open at OpenSea if you are qualified.
7. Who founded OpenSea?
Devin Finzer and Alex Atallah founded OpenSea in 2017. The two are experienced minds who have worked in the technology industry for a long time. Devin Finzer was a software engineer at Pinterest for years before founding OpenSea. In addition, he founded other companies such as Iris Labs and Claimdog. Credit Karma later acquired the latter.
On his part, Alex Atallah was working as a Forward Deployed Engineer in Palantir before founding OpenSea. He also worked as the Lead Front-end Engineer in Zugata and as the CTO in Whatsgoodly Inc. Forbes covered how the two came together to build what is now regarded as the largest NFT marketplace in the world.
8. How many NFT collections are on OpenSea?
OpenSea is currently the largest NFT marketplace in the world. Thus, it has over 2 million NFT collections. Most of them are your average NFT pieces, while some rare tokens go for hefty prices.
In addition to the collections, there are generally over 80 million NFTs on OpenSea. The creation and sale of more NFTs allow the company to record high revenue, even with the small commission received on each transaction.
9. OpenSea has surpassed $10 billion in NFT sales
As of February 2022, OpenSea has surpassed $10 billion in NFT sales. This figure puts it among the top 3 NFT marketplace sales. Moreover, the figures have continued their bullish behaviour, with OpenSea now effortlessly surpassing all of its rivals.
What is notable about OpenSea’s NFT sales record is that the daily, weekly and monthly trading volumes have supported the company’s consistency. One can only guess where it will go in the future as more people get fascinated by the idea of trading in NFTs.
10. The daily trading volume is $150 million
OpenSea’s daily trading volume has steadily surpassed $150 million every day in 2022. On January 9, it recorded its all-time high of $261 million. With the average daily volume surpassing its previous records and its competitors, OpenSea is still at the top of the NFT game.
11. OpenSea has a monthly trading volume of $3.5 billion
OpenSea’s highest monthly trading volume is $3.5 billion, and this number was recorded in August 2021. This record is far ahead of anything OpenSea competitors can lay claim on and, once again, shows the company’s position in the NFT space.
12. OpenSea traffic
OpenSea has been recording its highest traffic since its inception. According to SimilarWeb, the platform receives over 121 million visitors every month.
OpenSea’s traffic grew exponentially throughout 2021. The platform gets traffic from various affiliated and unaffiliated places such as onlyfans.com, direct visits, and various social media websites.
The website records the most traffic from the United States, about 23%. In addition, 63% of its traffic is from direct visits, 7.7% from referrals, and 9.8% from various social media platforms. Of these social media, Twitter leads to 61% of OpenSea’s social traffic, and YouTube is responsible for 18.8% of it. Facebook, Instagram and Reddit sum up the top five.
13. How does OpenSea make money?
OpenSea is an NFT marketplace and operates similarly to platforms like Rarible. Therefore, OpenSea makes money through the fees and commissions paid on transactions carried out on their platform. Usually, OpenSea charges a flat rate of 2.5% of every transaction carried out on the platform. This means that if a token is sold for $200, OpenSea keeps $5 as the service fee.
14. Is OpenSea a public company?
OpenSea is not a public company, and the founders plan to keep it so for a while. The implication is that you cannot buy the company’s shares on the stock market. However, you should not rule out the company going public in the future. Currently, OpenSea is experiencing steady growth and great public interest, so that future might not be far.
15. The most expensive NFT ever sold on OpenSea was CryptoPunk #5822 for $23.7 million
CryptoPunk #5822 was sold for a whopping 8,000 ETH valued at $23.7 million USD at the time of sale. This makes it the most expensive NFT that was ever sold on the OpenSea platform. It was purchased by Deepak Thapliyal who is the CEO of Chain.
16. When was OpenSea’s most successful year?
OpenSea had a record-breaking operation in 2021. Both the transactional volume and revenue were above expectations. Right from the beginning of the year, the company was making waves. In the first month of 2021, OpenSea recorded an Ethereum transactional volume of $4.95 billion.
Gradually, the numbers increased throughout the year. David Finzer reported that OpenSea’s transactional volume grew over 600 times before the end of December 2021. This immense success can be traced to the increased interest in NFT during the year.
17. How popular is OpenSea?
OpenSea is a popular platform in the NFT space, and its number of visitors is pushing the company forward generally. It is the 211th most popular site globally, and 310th most popular in the US. However, the position changes fast as more people get interested in non-fungible tokens.
OpenSea’s pioneer status in the NFT space makes it the first choice for many new and old users. Its market share is still larger than its competitors, which does not seem to change anytime soon.
18. Which country does OpenSea have the most influence?
The United States of America is the country that uses OpenSea the most. The country accounts for 23% of the site’s total traffic, almost five times the country in second place. The next country after the United States is Canada. Users from Canada account for 4.76% of OpenSea’s total traffic.
This record is based on those who use the desktop version of OpenSea, as users from other versions are yet to be documented. The United Kingdom comes a close third by sending 4.26% of traffic to the OpenSea website, while India and Australia wrap up the top five.
19. What do people do on the OpenSea site?
OpenSea visitors are mostly interested in investing. Most people go there to see how they can join the NFT bandwagon out of the fear of missing out (FOMO). Other interests of OpenSea visitors are video games, programming, computers, electronics and other finance.
People who visit opensea.io also tend to visit similar websites such as CoinMarketCap, Binance, Discord, etc.
20. What are the most popular NFTs on OpenSea?
Several NFTs are being created, bought, and sold on OpenSea, but the most popular duo is the Bored Ape Yacht Club and CryptoPunks. These two collections have contributed a joint 908,000 ETH, which is about half of OpenSea’s entire volume. These two collections have been making the list of the top NFTs on OpenSea for a while and seem to hold their positions strongly.
However, it is important to remember that OpenSea uses an open market system. This system allows users to explore their creativity and design NFTs from their favorite arts, music, and video games. The popularity of different NFTs may change in the coming years to favor other collections that catch the attention of investors.
The top NFTs on OpenSea during the last week of February include 3Landers, tubby cats by tubby collective, NFT Worlds, mfers, CatBlox Genesis collection, Azuki, Edenhorde, Worldwide Webb Land, and more.
OpenSea is a common name for any person’s interest in NFTs and the industry’s promise for the future. This platform has been a forerunner in the space, and its recent successes seem to cement its position as the first choice NFT marketplace. We hope these statistics helped you learn more about the OpenSea platform.