OpenSea Seaport has exceeded 10 million transactions on the Ethereum chain, with a transaction value of more than $3.5 billion

According to the latest data of Dune Analytics, the total number of transactions on the OpenSea Ethereum chain based on the open source NFT protocol Seaport has exceeded 10 million, reaching 10006368 so far, with a total transaction amount of about 3.647 billion US dollars and 1323582 independent users.

Interpretation of this information:

The message mentioned by Dune Analytics regarding the total number of transactions on the OpenSea Ethereum chain on the Seaport protocol exceeding 10 million is a significant milestone in the world of Non-Fungible Tokens (NFTs). For those who are unaware of the growing trend that is NFTs, an NFT is a unique digital asset that is stored on the blockchain. NFTs are often used for one-of-a-kind art or collectibles, which means that a specific asset cannot be replicated or duplicated. These assets are interdependent and clearly identified using blockchain technology, which ensures their uniqueness and scarcity.

The fact that the number of transactions has exceeded 10 million signifies that the NFT market is indeed booming, and with a total transaction amount of about 3.647 billion US dollars and 1323582 independent users, it is hard to deny its growing importance within the digital world. The numbers indicate that NFTs are not just a passing fad, but a new frontier in the world of digital art and collectibles.

The Seaport protocol on the OpenSea Ethereum chain is known for its ease of use and versatile features, which likely contributed to its increasing popularity in the NFT market. Seaport provides a simple and user-friendly experience for minting, selling, and purchasing NFTs. The Seaport marketplace has enabled independent creators to monetize their artwork, music, and other digital creations easily.

The total transaction amount of about 3.647 billion US dollars raises questions about the practicality and value of NFTs. Although it is a new frontier, it is still difficult to comprehend the value of an NFT. The value of an NFT lies in its unique ownership and is comparable to that of a physical asset. Owning an NFT for digital art can provide an opportunity to have a one-of-a-kind piece in the same way that owning an original painting does. The monetary value of the NFT will depend on the demand for it, similar to traditional assets.

In conclusion, the latest data from Dune Analytics signifies the growth and importance of NFT transactions on the Seaport protocol. It highlights the increasing value and popularity of NFTs, indicating that it is not just a trend but a rapidly growing industry that is here to stay. While there are still many questions about the practicality and value of NFTs, their potential for digital ownership of assets cannot be ignored.