Three sites monopolize trading on non-fungible tokens (NFT) marketplaces. At the time of writing, the three OpenSea, LooksRare, and Axie Infinity accounted for $44.43 billion of the sector’s total sales. According to tradingplatforms.com’s analysis, that amounted to 86% of all NFT markets’ sales.
“Many people are familiar with some of the most famous NFTs like CryptoKitties,” says tradingplatforms.com’s Edith Reads. “What few know, however, is that almost all trading in NFTs is taking place on three sites: OpenSea, LooksRare, and Axie Infinity. These three owe their dominance to a combination of first-mover advantage, superior product offering, and easier listing.”
Ten sites control 92% of NFT trading
Tradingplatforms.com’s data presentation shows a dominant position in the top 10 marketplaces. Of the 47 sites considered, these accounted for $47.73 billion, or 92 percent of all trading volume. The remaining 37 projects share revenues worth $4.19B.