OpenSea hits $25 Billion in GMV! 📈 Now Coinbase wants in on NFTs too! 💰💰💰
Part One is all about What We Know in our two-part trend report.
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ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* NFT Utility + NFT Marketplaces + NFT Communities 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ NFTs are the new AMEX Black Cards! ]
- thanks charlie!
NFTs like Bored Ape Yacht Club, Stoner Cats, and Jenkins Yacht Valet, are examples of a type of NFT that acts as a ticket to, membership in, and/or fractional ownership of, digital content.
The NFTs are limited editions, so if others want to join the club, the value of your membership NFT goes up. This way an artist can sell a portion of their future royalties to fans and raise production money, skipping the traditional gatekeepers, like studios and record labels.
Imagine professional sports teams owned by NFT holders who pay a premium to have a say in the way the team is managed.
>> [ NFTs get the full club treatment! ]
Music stars Diplo, DJ Khaled, Martin Garrix and Future have bought NFTs from the Bored Ape Yacht Club collection via MoonPay’s ‘concierge service’.
In the last week, all four musicians have changed their profile pictures on either Twitter or Instagram to flaunt their purchases.
Last week, The Block revealed that MoonPay had quietly launched a ‘concierge’ service targeting high-net individuals interested in buying digital collectables and crypto. Its first customers included rappers Lil Baby, Post Malone and talk show host Jimmy Fallon.
>> [ OpenSea just blew by $1 Billion in monthly trading volume! ]
- thanks MK!
The non-fungible token (NFT) marketplace OpenSea has surpassed $1 billion in monthly trading volume, according to data compiled by The Block.
OpenSea’s trading volume increased 286% from July to August, and it has carried the majority of NFT monthly trading volume since May of this year. The firm has already seen $1.23 billion in volume this month, while the entire marketplace has seen $1.27 billion.
The platform’s record trading volume also coincides with all-time high search interest on Google, The Block previously reported. In other words, search interest for “OpenSea” is the highest it can be for the first time ever.
>> [ OpenSea already hits $25 Billion in GMV this year! ]
- thanks the generalist!
Since its [OpenSea] founding in 2017, the NFT marketplace has grown to become the undisputed leader in the space with a share that exceeds 97%, and volume 12x that of its closest rival.
Already this year, more than $13 billion worth of NFTs have sold, with $25 billion in annual gross merchandise volume (GMV) within touching distance should sales for the rest of the year match last quarter.
Such scale not only puts OpenSea ahead of its competition but beyond traditional, web2 marketplaces. In its most recent quarterly report, Etsy reported $3.04 billion in GMV; OpenSea surpassed that in August alone.
>> [ Coinbase wants in on some of that NFT “coin” too! ]
- thanks sanchan!
Today, we’re announcing Coinbase NFT, a peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs easier than ever.
Just as Coinbase helped millions of people access Bitcoin for the first time in an easy and trusted way — we want to do the same for the NFTs.
Buying and selling will be core features of Coinbase NFT. We’ll have a vibrant, secure marketplace. But we believe we can do much more.
We’re designing for social engagement. By fostering connections, Coinbase NFT will help creators, collectors, and fans build community.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for Part Two in our report.
We’ll discuss on how to position ourselves as a new player in the NFT Utility + NFT Marketplaces + NFT Communities 🔥 space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.