Top 5 NFT Markets Cross $40 Billion

🤯 Top 5 NFT Markets Cross $40 Billion

October 31, 2022

Gm and open wide, here comes your daily dose of NFT news! 💊

What The Heck Is Going On?

  • Trending Collections

  • Notable Projects

  • SEC Commissioner On NFT Regulations

  • Top 5 NFT Marketplaces Cross $40 Billion

  • What The Meme?

Trending Collections

Notable Projects

SEC Commissioner On NFT Regulations

Crypto Mom, aka SEC Commissioner Hester Peirce, had this to say about NFTs:

“I think the SEC has provided very little clarity [on NFTs]. There's a lot of ambiguity. And in situations where there is this much ambiguity, I think people really need to be very careful. This is not the ideal state [of regulation].”

Peirce believes the SEC could easily provide a substantial amount of clarity to NFT creators as they navigate mainstream adoption, but the federal agency, for whatever reason, has chosen not to give that guidance.

“We could do that anytime we wanted. We have mechanisms for doing that. We could work on some kind of group exemptive order that could say, ‘If you meet these parameters, then you’ll be fine under the securities laws.’ We could set out parameters within which people could operate. We could draft some kind of a class no-action letter which says, ‘If you do these things, we’re not likely to recommend an enforcement action against you. We could do that anytime we want to. But we're just not doing it.”

Top 5 NFT Marketplaces Cross $40 Billion

The top five NFT marketplaces surpassed $40 billion in all-time sales!

The largest NFT marketplace was Opensea at nearly $33 billion.

Statistics from dappradar.com indicates that Opensea's $32.76 billion in sales were executed by 2,340,000 million traders. Just yesterday, the average price paid for an NFT on Opensea was about $352.

Opensea is followed by the Axie Marketplace ($4.26B), Magic Eden ($1.83B), Looksrare ($1.62B), and X2Y2 ($891M).

  • The average price paid for an NFT on Axie Marketplace is $171.

  • The average price paid for an NFT on Magic Eden is $124.

  • The average price paid for an NFT on Looksrare is $6,590.

  • The average price paid for an NFT on X2Y2 is $582.

What The Meme?

That's all folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.