Tiny Minority of OpenSea Users Scoop Up Most NFT Profits: Report - Aliens: AI Crypto News & Markets Updates

Feed

News

Live News

About

Advertise

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Tiny Minority of OpenSea Users Scoop Up Most NFT Profits: Report

PublisherPublisher
Yahoo Finance

Tue, Dec 07, 2021

Banner

Aliens TLDR

Only 5% of OpenSea users are scooping up the bulk of the profits in secondary trades executed on the NFT platform, according to Chainalysis, a blockchain intelligence firm.

Chainalysis noted the data does not account for “NFTs that have been minted, bought, and never resold.” Chainalysis said that 250 NFT collections account for eight out of every 10 secondary sales.

Chainalysis estimated that whitelisted NFT minters, who earn special access to assets, were profitable in three quarters of the transactions on OpenSea, with more than half of the trades pocketing returns of 100%.

Chainalysis says that between January and October of this year, users have sent at least $26.9B in crypto assets to ERC-721 and ERC-1155 contracts, describing such as “the two types of Ethereum smart contracts associated with NFT marketplaces and collections.” Leading NFT marketplace OpenSea received $16B throughout the period, during which more than 6,000 collections attracted at least one transaction including minting or trading.

Chainalysis examined the regional origin of traffic visiting NFT marketplaces from January until October, noting North American and Central & Southern Asian activity is roughly on par after diverging significantly during the year.

While both regions represented one-quarter of NFT marketplace traffic as of October, North Americans represented more than 45% of visitors at the start of the year compared to just 10% from Central & Southern Asia.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Kryptomon’s treasure hunt game event ‘Walk-to-Earn’ returns

There are few constants in life, but one of them is the absolute certainty that should one walk into a gym on the first few days of a new year, it’ll be packed with what seems like the entirety of the city’s total population. And that could make anyone uncomfortable, not just because of the […]
AMB Crypto
·

2h

polygon

Recommended Stories

Article

Kryptomon’s treasure hunt game event ‘Walk-to-Earn’ returns

Article

Ethereum’s network revenue surged 1,777% in 2021 as average gas fee reached $26

Article

Himo World NFT metaverse gears up for IDO

Article

Ethereum, Dogecoin and Shiba Inu Chipping Away at Bitcoin's Crypto Payment Market Share

Article

Bitcoin price bound for another dip to $40,000

Article

Solana, Fantom, Axie Infinity Price Analysis: 17 January

Article

METABLAZE Announces Phase One of Its Emerging Metaverse Ecosystem Roadmap with Token Presale

Article

Bitcoin and Ethereum Positive Catalysts to Watch Out for in 2022: IntoTheBlock

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise