January 6, 2023 (Investorideas.com Newswire) According to a recent BitcoinCasinos report, the marketplace’s dominance shrunk by 25% in the year. This decline saw its market share drop to 33% and marked a pivotal moment for the future of NFTs.
The platform has been the go-to NFT marketplace for many, but its domination is under increased pressure. According to Edith Reads, a BitcoinCasinos investments expert and long-time industry analyst, OpenSea’s hold is beginning to weaken. She explained:
“OpenSea was an innovator in the trading NFT space, and its success helped bring attention to the entire industry. However, it is becoming increasingly clear that its grip on the market is slipping as more competitors rise.”
A declining NFT transfer count has further compounded OpenSea’s woes. The site registered a 25% decline in the metric, falling from nearly 80K at the year’s start to roughly 60K by 31st December. The full story and statistics can be found here: Open Sea NFT Market Dominance Shrunk By 25% Throughout 2022 To Stand At 33%
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com