{"id":337617,"date":"2021-09-11T00:15:00","date_gmt":"2021-09-10T21:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/open-seas-nft-volume-down-50-after-monumental-surge-in-august\/"},"modified":"2021-09-11T00:15:00","modified_gmt":"2021-09-10T21:15:00","slug":"open-seas-nft-volume-down-50-after-monumental-surge-in-august","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/open-seas-nft-volume-down-50-after-monumental-surge-in-august\/","title":{"rendered":"# Open Sea\u2019s NFT volume down 50% after monumental surge in August"},"content":{"rendered":"

“# Open Sea\u2019s NFT volume down 50% after monumental surge in August <\/strong>”
\n<\/p>\n

Following a colossal surge of $4B sales volume throughout the month of August for the leading non-fungible token, or NFT, marketplace OpenSea, recent figures indicate a metaphoric return to earth after a propulsion to the mighty heights of the moon.<\/p>\n

NFT marketplaces have largely paralleled the bearish momentum witnessed across the cryptocurrency markets across the last week, as platforms, collections and floor prices all suffer corrections. <\/p>\n

Analytical data<\/a> from Dapp<\/a>Radar reveals that over the last seven day period, sales volume on OpenSea has fallen sharply by almost 50% to $792.23M from a pool of 156,811 traders, 10% less than registered across the previous week.<\/p>\n

Despite this short-term correction, OpenSea still holds a dominant position over its closest competitors Axie Infinity and CryptoPunks on the volume metric with $158.24M and $45.92M respectively.<\/p>\n

Conscious to not skew the narrative bearish, it also must be reported that by utilizing the same dataset and expanding the scope across a 30-day period, it can be fairly assessed that OpenSea shows no signs of long-term decline with a positive volume figure of 336.94%.<\/p>\n

Related: 101 Bored Apes NFT auction at Sotheby’s closes at more than $24M<\/em><\/strong><\/p>\n

In a momentary mishap this week, a bug on the platform affecting ERC721 transfers to ENS names accidentally deleted a small number of users’ NFT assets totalling $100K. It is understood that the incident was swiftly resolved and funds returned. <\/p>\n

Last week, the platform issued a guerrilla-styled recruitment post, declaring that they will generously donate 1 Ethereum (ETH) token to any member of the public who refers a potential engineer or designer to the firm and they progress to become a successful candidate. <\/p>\n

In the statement, head of product Nate Chastain pleaded: \u201cWe are 37 people handling 98% of all NFT volume\u201d and that the company has a \u201cpressing need for manpower.\u201d<\/p>\n