- Across 80 million NFTs, about $20 billion in volume has been traded on OpenSea to date.
- In terms of NFT sales volume, Avalanche is the seventh-largest blockchain.
- During the launch, 10+ Avalanche projects will be available on the OpenSea marketplace.
Considering the decline in NFT movement, a number of popular players in the industry have collaborated to grow their reach. One such player is OpenSea, which has launched on Avalanche, the layer-1 blockchain.
Avalanche is officially live on @OpenSea!#OpenSea gives creators and collectors another excellent venue to display, list, and trade NFTs, providing greater access to the NFT community on Avalanche 🤝https://t.co/FKpy28fXXQ— Avalanche 🔺 (@avalancheavax) October 11, 2022
VP of product at OpenSea, Shiva Rajaraman, said that multichain is the future of Web3 and providing the best possible selection as well as connecting people with their preferred creators and projects has always been the goal.
The marketplace will operate on the blockchain with other platforms such as NFTrade and Avalanche-based NFT markets including Kalao and Joepegs. Users of OpenSea can settle NFT transactions in under a second and that too with low transaction fees.
President of Ava Labs, John Wu, shared that a part of their aspiring and vibrant NFT community and creator was interested in having OpenSea.
Currently, OpenSea will display all Avalanche-themed NFT collections, which will increase further with time.
Avalanche is working with many Web 2.0 enterprises like sports teams and business & consumer brands. All such firms wished for OpenSea on Avalanche.
Wu mentioned that the companies want a scalable chain since Web 2.0 is way bigger than Web3. These companies look forward to a chain that is capable of handling excess amounts of activity done by users. And they are extremely comfortable with OpenSea.
Despite the NFT market slowing down in the last months, NFT sales volume of Avalanche in the past 30 days has increased 38.52% to $2.1 million.
Wu continued that though the entire NFT market has fallen, if it is broken down, major fluff will vanish. The new category of utility as well as fan engagement has started picking up with other categories that are beyond the collectible world.