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OpenSea dominance wanes, Azuki skating boards fetch $2.5M and More By Cointelegraph

Nifty News: OpenSea’s dominance is fading, Azuki Skateboards sell for $2.5M and More

Nonfungible token (NFT) marketplace Opensea has seen its competitors chomping at its ankles this year as they gain market share — turning the market from a “monopoly” into an “oligopoly,” a new report states.

Binance Market Pulse Published On Oct. 20, OpenSea stated that there has been a gradual and steady shift in market leadership. This is despite OpenSea still being the dominant marketplace in terms both of volume and users.ETHOver 2022, the market has seen a rise in the share of X2Y2-based exchanges and Looksrare.

OpenSea’s market dominance in terms of volume peaked in May 2022 but has seen a decline since. Image: Binance