Cryptocurrency and NFT markets have been experiencing a bearish market since January 2022. OpenSea, the largest NFT platform, cryptocurrency and announced a high profit despite the continued recession in the NFT markets.
Blockchain According to the data of Token Terminal, the website that measures the revenues of the projects OpenSeagenerated gross revenue of $144 million in the third quarter of 2022.
OpenSea’s gross income minus expenses NFT The marketplace’s revenue fell to $35 million.
of the crypto community “Where did all this money go?“Token Terminal answered the question on Twitter.
Users of @opensea paid $144.5M in fees over the past quarter.
$35M went to OpenSea LLC.
Where did the rest of the money go to?
The creators.https://t.co/9bRI813kpc pic.twitter.com/WydtGcI6Ra
— Token Terminal (@tokenterminal) October 2, 2022
According to Token Terminal’s tweet, most of the OpenSea platform’s revenues went to NFT artists.
OpenSea generated close to $5 billion in trade volume in January 2022. According to sources, the current volume of the marketplace has dropped to $350 million. In addition, an NFT has a median value of $600 in January, while it currently sells for $28.
Most Crypto Projects Are Lost!
According to Token Terminal’s listing, blockchain projects have suffered huge losses in the last quarter.
Among the largest blockchain protocols, the only platforms that make a net profit are OpenSea and MetaMask it happened.
According to the data, Ethereum, which has not been on the agenda with the Merge update in recent months, made a net loss of $ 1.5 billion in the third quarter. The protocols that do a lot of damage after ETH are Curve, Synthetix, polygon and Optimism it happened.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!