The data shows that both platforms are doing well, with a rise in trading volume of +47.36% and +10.97%, respectively, while just a few days earlier, Opensea’s and LooksRare’s respective unique NFT trader figures were -1.06% and +120.0%, respectively.
This is a significant improvement from late last year, when NFT sales in the five key marketplaces (OpenSea, Magic Eden, X2Y2, LooksRare, and Solanart) fell to its lowest level for 2022 (by November), capping a downward trend that started in April 2022.
In 2023, the NFT market is expected to rebound as more people become familiar with the technology and its potential for digital ownership. The ability to buy, sell, and trade unique digital assets has drawn the interest of artists, musicians, and gamers, and as more platforms and marketplaces for NFTs emerge, the demand for these assets is expected to increase. Additionally, advancements in technology like blockchain, which NFTs rely on, are making it easier for people to buy and sell NFTs, increasing accessibility and adoption. Overall, the outlook for the NFT market in 2023 is optimistic, and it’s likely that we’ll continue to see growth and innovation in this space.
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