Opensea, one of the most popular NFT online marketplaces, encountered a period when NFT sales had dropped dramatically in February.
According to the data, the NFT figure of 33% of the February total is the lowest since May last year, with 199,000 sold on OpenSea, as corroborated by the Dune Analytics dashboard.
The inventory platform had an 18% decline in January. This fall coincided with a decrease in active users. Only 103,000 users completed at least one transaction in February.
Despite a decrease in revenues, sales volume has increased by 5% to $153.03 million, representing a two-month high. This resulted in a 3% rise in both platform and royalties costs.
Blur, an NFT aggregator and marketplace, had a 16% decline in February. NFTGo data reveals that the market cap is $11.4 billion, which corresponds to a 36% gain.
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