Regardless of the continuing market downturn, non-fungible token (NFT) market OpenSea has managed to report some $144.5 million in charges for the third quarter of this 12 months.
Between July and September 2022, the enterprise posted revenues of some $35 million, as indicated by figures launched by crypto asset knowledge platform Token Terminal.
The constructive figures for the third quarter of this 12 months are excellent news for the corporate behind {the marketplace}, OpenSea LLC, but additionally for the legions of NFT creators who’ve efficiently offered their tokens by way of OpenSea in the course of the three-month interval.
“The place did the remainder of the cash go to? The creators,” Token Terminal tweeted.
On the identical time, it should be famous that the newest outcomes reported by the world’s first NFT market are considerably decrease than these OpenSea was posting earlier than the present downturn. Data launched by crypto analytics enterprise Dune Analytics exhibits that in January 2022, the platform reported a month-to-month gross sales quantity of $4.86 billion price of ethereum (ETH), its document stage so far.
In the meantime, {the marketplace} continues to search for new streams of income by establishing partnerships with main leisure business gamers corresponding to Warner Music Group (WMG). Final week, OpenSea and WMG unveiled the team-up, declaring it might “present a platform for choose WMG artists to construct and lengthen their fan communities in Web3”.
As a part of this cooperation, WMG artists are to be supplied with early entry to OpenSea’s new drops product, enhanced discoverability, as properly customized storytelling on personalized touchdown pages, in accordance with the 2 companions.
