The non-fungible token (NFT) marketplace OpenSea has surpassed $1 billion in monthly trading volume, according to data compiled by The Block.
OpenSea’s trading volume increased 286% from July to August, and it has carried the majority of NFT monthly trading volume since May of this year. The firm has already seen $1.23 billion in volume this month, while the entire marketplace has seen $1.27 billion.
The platform’s record trading volume also coincides with all-time high search interest on Google, The Block previously reported. In other words, search interest for “OpenSea” is the highest it can be for the first time ever.
OpenSea, a New York-based firm founded in 2017, hit a $1.5 billion valuation at the end of July. It raised $100 million at its most recent Series B funding round and $23 million in Series A, with the venture firm Andreessen Horowitz led both of its prior funding rounds.