NFT Wrap is a new weekend feature dedicated to all things non-fungible and token-y. Got a tip? Am I doing this right? Reach out at mmcsweeney@theblockcrypto.com
As highlighted by The Block’s Data Dashboard, July saw just over $300 million in trade volume across the non-fungible token space’s marketplaces. The vast majority of that took place on OpenSea, the a16z-backed market that announced a $100 million funding round that same month.
That monthly figure wasn’t the all-time high — March drew about $315 million, led by Nifty Gateway — but the July figure was part of a collection of data points that signaled a resurgence in NFT activity, particularly around collectibles, artworks — „jpegs” in the crypto trade parlance.
Here we are, one month later:
No, you don’t need to adjust that dial — August’s NFT market volume currently weighs in at $2.3 billion, with OpenSea contributing $2.23 billion to that figure. It’s the definitive signal that OpenSea is now the dominant marke
