Blur and OpenSea Just Got Beat. OKX is Now the Largest NFT Marketplace by Trading Volume.
TL;DR
Yesterday, trading volume for OKX’s NFT platform was over $50M, making it the largest NFT marketplace by daily trading volume, leaving Blur (the previous market leader), in a distant second place at just over $13M.
The friendship started earlier this year, when OKX became one of the first mainstream marketplaces to support the buying/selling of Bitcoin Ordinals.
The month-to-month 'ping ponging' of market dominance between the NFT platforms doesn't happen in mature industries which helps remind us that we're still so early!
Full Story
Did the OKX exchange and Bitcoin Ordinals (aka Bitcoin NFTs) just become best friends?
Yup! Looks like it.
Yesterday, trading volume for OKX’s NFT platform was over $50M, making it the largest NFT marketplace by daily trading volume, leaving Blur (the previous market leader), in a distant second place at just over $13M.
And it was all thanks to Bitcoin Ordinals.
The friendship started earlier this year, when OKX became one of the first mainstream marketplaces to support the buying/selling of Bitcoin Ordinals.
Turns out this was a big brained move, because:
Bitcoin Ordinals proceeded to explode in popularity.
Other competing NFT marketplaces were slow to embrace Ordinals, giving OKX an impressive head start.
"Ok, that's nice. But why is this in the '💅 This is cool' section"
Because this time last year, OpenSea was the number 1 NFT marketplace (by a long shot).
...then a few months later, it was Blur.
Now, less than a year after Blur took the lead, OKX has replaced it.
This kind of month-to-month 'ping ponging' of market dominance doesn't happen in mature industries.
All of this helps to remind us that, although the crypto industry is close to 15 years old:
We're still so early!