OpenSea Breaks Daily Trading Record

ApeCoin by Otherside, has already generated about $878 million worth of NFT sales volume in less than two days.
| CryptoPress
opensea

The latest NFT to hit the market, ApeCoin by Otherside, has already generated about $878 million worth of NFT sales volume in less than two days.

The new Ethereum-based NFT is available for purchase on OpenSea, where it set a new one-day record for Ethereum NFT trading on Sunday with $476 million. The company says this is the largest amount of ETH ever traded for an Ethereum-based asset in a single day.

The popular secondary market for non-fungible tokens (NFTs) recorded more than $1.2 million in trading volume on a single day. That’s more than double their previous record of $594k, which was set less than two weeks ago.

OpenSea CEO said: “This has been a great time for us as we’ve seen our community expand exponentially since launch. We’re thrilled to be able to support these creators and their projects.”

“This has been a great time for us as we’ve seen our community expand exponentially since launch. We’re thrilled to be able to support these creators and their projects.”

OpenSea CEO

Otherside has already generated about $878 million worth of NFT sales volume in less than two days, although the price of ApeCoin has been sinking rapidly since Saturday.

The OpenSea marketplace broke its daily trading record for Ethereum yesterday.

The top NFTs traded on the platform over the past seven days include Bored Ape’s projects, which have been leading CryptoSlam’s list for NFT trading volume on secondary markets since they made their debut last month. Otherside is an Ethereum-based metaverse game that’s being developed in partnership with metaverse investor and gaming studio Animoca Brands.

OpenSea has also recently made strides to expand its services beyond crypto-collectibles into other areas of gaming, including virtual reality (VR) games and online poker sites.

Otherdeed

The record coincided with the launch of Otherdeed, a new kind of blockchain-based game and metaverse developed by Yuga Labs. The game launched on Ethereum, where it sold 55,000 land plots via Saturday’s mint, offered another 30,000 for free to existing Bored Ape and Mutant Ape NFT owners to claim and kept 15,000 additional plots for use by developers, partners, and ecosystem contributors.

Following the launch of Otherdeed on Saturday morning, players began trading at high volume in OpenSea’s auctions and secondary marketplaces. Some players also used OpenSea’s gifting function to send land plots to other users around the world.

In total, OpenSea facilitated more than 10,000 transactions from players purchasing or receiving land plots or other in-game items. The $2.3 million in sales was well above the previous daily record of $1.3 million set on April 18th during the launch of Axie Infinity v2 and is nearly double the total daily volume seen.

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