February 13, 2023, 10:50AM EST
• 4 min read

January NFT Marketplace Recap

Quick Take

  • This piece provides a recap of NFT Marketplace activity in January 2023.
  • The total NFT trading volume on Ethereum bounced back to $796.3mm, marking a 47.1% MoM increase.
  • The total number of NFT transactions on Ethereum skyrocketed to 2.2mm, up 14.9% MoM.
  • Blur’s user growth slowed down, while that of OpenSea recorded an upswing for the second month in a row, surging to 329.4K.
  • Effective royalty rates recovered across the board, with Blur displaying a 48bps MoM increase.
  • In line with the NFT market’s rebirth, protocol fee revenues rebounded, with X2Y2 boasting a sharp 92.2% MoM increase.

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