In the world of non-fungible tokens (NFTs), OpenSea and Blur are two of the biggest players in the market. However, according to recent data from analytics platform Dune, these marketplaces have experienced significant losses in daily users and sales over the last week. This is a trend that hasn’t been seen since July 2021.
NFT researcher SeaLaunch compiled a dashboard using data from Dune, which showed that the number of unique users across top NFT marketplaces, including OpenSea, Blur, and LooksRare, has been steadily declining over the past seven days. On April 19, the number of unique users dropped to 7,805, a low not seen since July 31, 2021, when the number of unique users on OpenSea and other marketplaces was recorded at 7,455.
4/ We analysed in the past the type of users of each NFT marketplace according to their trading in the NFT market.
Interestingly, all type of users (from heavy traders to “normal” nft traders) are decaying activity at same pace.
Source: https://t.co/ZSpTmGl9Qs pic.twitter.com/9Ca8RBPdbl
— sealaunch.xyz (@SeaLaunch_) April 20, 2023
Sales across NFT marketplaces have also taken a dip over the last week, with only 16,149 sales recorded on April 19. This is the lowest number of sales recorded since November 9, 2021, when there were only 12,910 sales.
SeaLaunch believes that the overall decay in NFT users is most likely due to macro scenarios such as high gas prices and tax payment liquidity issues, rather than a change in the pattern of trading, such as a reduction of airdrop farming trading.
The decline in daily users and sales across NFT marketplaces could potentially be a concern for the NFT industry as a whole. However, it is worth noting that the overall market for NFTs is still relatively new, and fluctuations in daily users and sales are not unexpected.
As the NFT market continues to develop, it will be interesting to see how marketplaces like OpenSea and Blur respond to this decline in daily users and sales. It is possible that they will need to adjust their strategies to remain competitive in the NFT market.
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