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Largest NFT Market by Volume Opensea Launches Smartphone Application


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Largest NFT Market by Volume Opensea Launches Smartphone Application

On September 17, the largest non-fungible token (NFT) marketplace in terms of volume, Opensea, announced the launch of the platform’s mobile application. Opensea marketplace users can now access a wide variety of NFT collections on their smartphones by downloading the application from Apple’s App Store or the Google Play store.

Opensea Launches Mobile App for iOS and Android Phones

According to marketplace statistics from dappradar.com, Opensea is the largest NFT market in terms of global trade volume. All-time statistics indicate that Opensea has seen 625,620 traders and $6.53 billion in volume. Axie Infinity and the Cryptopunks NFT collection fall behind Opensea’s volume as Axie Infinity has seen $2.11 billion and Cryptopunks has gathered $1.31 billion.

In recent times, Opensea has added Polygon (MATIC) support and toward the end of July, the leading marketplace announced a $100 million capital raise. Opensea has continued to see record sales but on September 15, the company announced that an employee was caught leveraging insider information to trade.

The NFT market’s management detailed that Opensea team members “may not buy or sell from collections or creators” while they are being promoted by Opensea. Furthermore, “Opensea team members are prohibited from using confidential information to purchase or sell any NFTs, whether available on the Opensea platform or not,” the team detailed last week.

Opensea Says It Saw Significant Demand for a Mobile App, Leading NFT Marketplace Has a Great Deal of Competition

Two days later, Opensea announced the launch of the platform’s mobile application which is available for iOS and Android operating systems.

“The calls for a mobile app have been growing, and we’ve been hard at work bringing it to life,” Opensea said on Friday. “Making NFTs more available to all is one of our core missions here at OpenSea, and we believe this is a big step in an exciting direction. NFTs in the palm of your hand.”

Opensea is not the only marketplace on the block and the leading market does have a lot of competition. While Opensea’s volumes are massive, NFT markets like Rarible, Superrare, Makersplace, Foundation, Mintable, Atomicwallet, and more are selling NFTs regularly. Moreover, NFT markets on other blockchains like Avalanche, Solana, and Tezos are selling too.

A few of these marketplaces have also had capital raises in 2021. Opensea’s mobile application will likely expand the platform’s reach and the company says it aims to improve the app over time.

What do you think about Opensea releasing a mobile application for its NFT marketplace? Let us know what you think about this subject in the comments section below.

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