• In Feburary, 199,000 NFTs were sold on OpenSea.
• This is its lowest count recorded since May 2021.

Leading non-fungible token (NFT) marketplace OpenSea witnessed a significant drop in the monthly count of NFTs sold in February, reaching a three-year low. 

According to data from a Dune Analytics dashboard prepared by Rchen8, the number of NFTs sold on Opensea during the 29-day period totaled 199,000.

This marked a 33% decline from the  297,000 total NFTs sold on the marketplace in January and the lowest monthly count since May 2021.

This fall may be attributable to the decline in the number of active users on the marketplace during that period.

In February, 103,000 users completed at least one sale transaction on OpenSea. This was an 18% drop from January’s 125,000 and the lowest monthly monthly users on the platform since July 2021. 

Interestingly, while OpenSea witnessed a decline in the number of NFTs sold in February, sales volume spiked by 5%. Information from the dashboard showed that NFT sales volume on the marketplace for the month of February was $153.03 million, which represented a two-month high. 

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Author: Abiodun Oladokun

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