In a nutshell, January 2022 smashed the previous year record by a mile. Although OpenSea: [Polygon] had a significant increase in monthly volumes, it was less dramatic. This was boosted from roughly $ 76 million in December 2021 to $ 77 million in January 2022, a 6% increase.
On OpenSea, however, Polygon has once again outsold Ethereum in terms of monthly NFT sales, selling about 2.6 million versus 2.4 million NFTs.
OpenSea: [Ethereum] had its largest monthly volume ever in January 2022, according to Dune Analytics. In December 2021, trading volumes totaled more than $ 2 billion; in January, they surpassed $ 5 billion. At the time of publication, the exact amount was $ 4,795,721,595.90746.
Taking a closer look at Ethereum’s gas fees can help us determine if a change in expenses is to blame. However, on average, gas prices were higher in January 2022 than they were in December 2021. As of this writing, the average price of a gallon of gas was around 134 Gwei.
Good press or bad publicity, it does not matter.
We can get more information from global factors. Using Twitter Blue’s NFT profile picture as an example, in January 2022 OpenSea’s API was used to run Twitter. This unquestionably sparked a lot of interest from the audience.
The fact that January 2022’s record-breaking data came on the back of an apparent vulnerability linked to the way OpenSea users listed or de-listed their NFTs is even more noteworthy. A user exploited this issue multiple times and gained hundreds of ETH as a result.
Not a single glitch occurred during the month of August. Numerous artists are accusing OpenSea of failing to do enough to stop art theft at its source as a result of an increase in NFT theft. Even international media sites are reporting on the topic because of the growing number of complaints. Overall, OpenSea’s success within the crypto-environment industry’s may not convert to mainstream acceptance.