NFT Marketplace Development

Just three months after reaching the $1 billion mark, NFT platform OpenSea has today officially traded over $10 billion in volume.  The crypto market’s largest NFT marketplace, OpenSea, has officially facilitated more than $10 billion in volume for the first time since opening its doors four years ago. The first NFT marketplace to be established on the Ethereum blockchain, OpenSea’s trading volume has shot up in the past year alongside the boom in non-fungible tokens (NFTs). In August, for example, the platform’s total volume was just $1 billion.  NFTs are cryptographically unique tokens that can be linked to digital or physical assets such as artwork, music, or videos. Many of the most famous NFT series, such as Bored Ape Yacht Club, frequently trade hands on OpenSea, while the platform has also hosted multi-million-dollar sales. In comparison with other major platforms, OpenSea is streets ahead in terms of trading volume. Ethereum-based platforms Rarible and SuperRare.co hav...

Below we explain a few things you need to know about Decentraland, including the risks to be aware of and where the price might wind up in the future. 1. It just hit an all-time high  The wild trading run sent the price of Decentraland to a new record of $4.69 on Saturday. Up until recent days, Decentraland had mostly traded under $1 since late May.  It hit an all-time high of $1.63 in April – but then crashed a month later. 2. Why it’s been going up lately Some have been wondering why Decentraland has started a big rally to begin with. The truth is Decentraland, which is a metaverse token, has Facebook to thank. This is because Facebook changed its name to Meta – aiming to “bring the metaverse to life.”  A metaverse is a virtual reality experience where users can interact with others.  Decentraland uses “MANA,” which is an ERC20 token – meaning it's based on Ethereum’s blockchain. Another metaverse cryptocurrency that has been gaining is Sandbox, which is up 33% in ...