October NFT Marketplace Recap

October saw a significant uptick in monthly NFT marketplace volume, surging from $210 million in September to $260 million, marking a 23% month-over-month (MoM) increase. The primary driver of this growth remains Blur, which led all marketplaces in secondary volume for the ninth consecutive month.

OpenSea Pro, a marketplace launched in April 2023 to meet the needs of professional NFT traders and rival Blur, has been quietly gaining traction. With its feature-rich environment, they have successfully captured a 7% market share in October. This marketplace emerged from OpenSea's acquisition of Gem in April 2022 and is a rebranded and enhanced version of Gem v2, an NFT aggregation platform.