March 8, 2023, 3:19PM EST
• 5 min read

February NFT Marketplace Recap

Quick Take

  • This piece provides a recap of NFT Marketplace activity in February 2023.
  • The total NFT trading volume on Ethereum soared to $1.5bn, marking a 102.3% MoM increase.
  • The total number of NFT transactions on Ethereum continued to plateau at 1.5mm, up 0.2% MoM.
  • The number of traders on Blur leaped by 6.7% MoM to 130.8K, while the number of traders on OpenSea plummeted by 21.0% to 260.4K.
  • Following the introduction of its new creator royalty policy, OpenSea’s effective royalty rate collapsed to 2.6%.
  • Protocol fee revenues trended downward, with that of OpenSea declining by 23.2% MoM.

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