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How Many People Are Using OpenSea in 2023? A Deep Dive into Usage Statistics

Non-fungible tokens (NFTs) have exploded into mainstream consciousness in recent years. And no NFT marketplace has benefited from this boom more than OpenSea. But just how many people are actively using OpenSea in 2023? Let‘s analyze the platform‘s usage and traffic statistics in detail.

OpenSea Monthly Active Users Near 1.5 Million

According to the latest data from Dune Analytics, OpenSea has around 1.5 million monthly active users (MAUs) in early 2023. This is down from over 2.5 million MAUs in November 2021, when the NFT market hit its peak. However, it still represents massive growth from just 200,000 MAUs in January 2021.

Here‘s a chart showing OpenSea‘s MAU growth since 2021:

OpenSea MAU Growth Chart

OpenSea‘s user base has grown in line with the rising mainstream popularity of NFTs. However, the crypto bear market in 2022 has led to declining usage across NFT platforms. Still, OpenSea remains the dominant player by far.

Over $2 Billion in Monthly Transaction Volume

In terms of dollar transaction volume, OpenSea saw over $2.1 billion worth of NFTs traded in January 2023. This volume came from around 4 million transactions on the platform.

While this represents a 60% decline from OpenSea‘s peak volume of $5.4 billion in September 2021, it still showcases the immense scale of trading activity on the NFT marketplace.

Top collections like Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki continue to drive significant volume. But the crypto downturn has cooled off speculative activity across smaller collections.

46 Million Monthly Website Visits

According to data from SimilarWeb, the OpenSea.io website received over 46 million visits in June 2022. The average visit duration was over 8 minutes, indicating strong user engagement.

However, this is down from the traffic highs of 67-80 million monthly visits OpenSea saw in late 2021 and early 2022. The bear market has led to declining website traffic as well.

Here‘s a table summarizing OpenSea‘s website traffic over the past year:

MonthUnique Visitors
June 202246.9 million
May 202255.3 million
April 202278.7 million
March 202271.2 million
February 202268.1 million
January 202267.2 million

United States Drives 21% of Traffic

Analyzing OpenSea‘s website traffic by geography, the United States accounts for the biggest share at 21%. Other top countries are Japan (4.5%), UK (3.7%), Turkey (3.7%) and Russia (3.6%).

This indicates that OpenSea has been successful in building a geographically diverse user base, although the US remains its largest market. The platform has likely gained traction in Japan and Turkey due to their existing crypto communities.

Over 98% Share of NFT Marketplace Volume

Despite intensifying competition, OpenSea still retains a dominant market share of over 98% among NFT marketplaces. Competitors like Rarible (0.9%) and SuperRare (0.6%) are way behind.

However, there are some signs of OpenSea‘s share slipping slightly, while X2Y2 and other new marketplaces gain ground. But OpenSea‘s first-mover advantage and network effects still give it an enormous lead currently.

Outlook Remains Strong Despite Cooling Growth

While usage and trading activity on OpenSea has dropped from the 2021 highs, the platform still remains the undisputed leader in the NFT space with over a million active users.

As the crypto and NFT markets recover, OpenSea is primed to ride any new wave of adoption. However, competitors are catching up in terms of user experience and market share. OpenSea will need to keep innovating and improving its product to maintain its pole position.

But with additional funding and a talented team, the outlook remains highly bullish for OpenSea to continue dominating the NFT marketplace industry.

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Michael

Michael Reddy is a tech enthusiast, entertainment buff, and avid traveler who loves exploring Linux and sharing unique insights with readers.