What is the most popular NFT token trading platform priced at?

The OpenSea NFT token trading platform has gained immense popularity in 2021. According to insiders, she is preparing for a new round of raising funds from investors.

Thus, in the near future, the estimate of OpenSea’s capitalization may reach the $ 10 billion mark – at least this is the level that the sources are targeting. At the same time, the representatives of the platform themselves have not yet disclosed accurate information about investors and investment amounts.

Note that the topic of NFT tokens, which we discussed in a separate article, continues to be in great demand. In particular, the popularity of the corresponding query on Google is currently at its peak. This means that a huge number of investors get acquainted with this topic and study it.

Popularity of the request for «NFT-tokens» in Google

google nft cryptocurrencies

This is facilitated by the activity of the stars. In particular, in the new video clip Post Malone, together with The Weeknd, is the first to buy an NFT token from the popular Bored Ape Yacht Club collection. This happens in the first seconds of the video below.

Against the backdrop of what is happening, the main platform for conducting transactions with NFT is in demand and attracts funds from investors.

Where to buy NFT tokens

NFT is the backbone of the OpenSea business model. In this regard, it is not surprising that the hype around unique tokens has made the platform one of the most popular portals for their exchange. The famous NFT collections such as CryptoPunks, Bored Ape Yacht Club and Cool Cats are auctioned here.

OpenSea chart trading

Growth in the volume of transactions on OpenSea

According to sources, the aforementioned round of funding will be the third in a row in the history of the platform. In March, it raised $ 23 million from Andreessen Horowitz funds, as well as investment companies run by businessmen Naval Ravikant and Mark Cuban. In July, the second round was held already at 100! million dollars, bringing the value of OpenSea to $ 1.5 billion.

We have checked the actual data: OpenSea is really in demand by investors. In particular, the platform is responsible for burning the largest amount of ether in commissions. As of today, more than 943 thousand coins have been destroyed on the Ethereum network. More than 100 thousand ETH of this amount falls on the OpenSea platform. Accordingly, the site made the largest contribution to the burning of ethers and the advancement of the asset in the direction of its new deflationary role.

Recall that the high costs of operations with NFT tokens are associated with the complexity of smart contracts, on the basis of which unique coins operate. They use many functions that require more processing power to process. And this directly affects the amount of commissions required to pay for transactions with NFT.

Ethereum cryptocurrency blockchain

The share of burned ethers as commissions, depending on the project

Nvidia, on the other hand, is not doing as well as the OpenSea platform. Sales of devices called CMPs, specially designed by the company to mine cryptocurrencies, fell nearly 60 percent in the third quarter of this year, Decrypt reported. According to Nvidia’s third quarter earnings report, revenue from cryptocurrency mining products fell from $ 266 million in the second quarter of the year to $ 105 million in the third quarter.

Nvidia CMP mining

Nvidia CMP

Recall that Nvidia launched the CMP line in response to the huge demand for its own graphics cards. Due to a shortage of equipment, the company could not meet the demand of its main audience – gamers. Specialized devices for miners were supposed to solve the problem, but Nvidia predicts that their sales will continue to fall in the coming months.

In addition, Nvidia has begun releasing graphics cards with limited power for mining – they are called LHR graphics cards. In which case, we have already found a way to unlock the potential of such devices.

We believe that such figures are quite logical for a company of this scale. Still, the cryptocurrency industry itself is today estimated at $ 2.6 trillion, and the figure has recently exceeded the level of 3 trillion. And since unique NFTs today are a real engine of hype around the crypt, the presence of a large amount of funds in the niche seems to be deserved.

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