In June, OpenSea became the undisputed king of all NFT marketplaces. Even with increasing competition from new players like Blur and Courtyard, it got the highest trading volume ever. As this data reveals, it’s still an incredibly dynamic time in the NFT market where both well-known platforms and some very new players are jockeying for position. In this report we take a closer look at the top NFT marketplaces and explore the key factors behind their success.

OpenSea's Dominance

OpenSea has continued to hold strong in June as most traded NFT marketplace. The platform’s general audience familiarity and extensive selection of various NFTs have allowed it to thrive despite some of this competition. Though it has faced challenges from newer platforms, OpenSea is still the go-to for many NFT speculators.

Blur, a new entrant to the NFT marketplace space, has exploded onto the scene. In June, it went up more than 600% to become the second most traded platform. In the last month, the platform achieved a staggering trading gross sales quantity of $33 million. It has brought in 8,038 active traders. This notable performance is an early sign that the market is ready for Blur’s distinct features and offerings.

Courtyard cemented its position as the third most traded NFT marketplace in June. Just in the last 30 days, the nascent platform has had an incredible $19.15 million in trading sales volume. 33,002 active NFT traders are using the platform, reflecting a dynamic community. At the root of Courtyard’s success is the brand’s focus on providing the most user-friendly experience possible. It makes itself unique by focusing on a niche within the NFT market.

Emerging Market Players

As you can see from the table above, many other NFT marketplaces have made substantial gains in June, showcasing the competitive nature of the NFT ecosystem. GetGems has emerged as a notable player, raising a trading sales volume of $8 million in the past 30 days and attracting 13,008 traders. The platform’s emphasis on building a vibrant community and supporting innovative NFT initiatives continues to drive its growth.

Element Market has emerged as the fifth most traded NFT marketplace for the month of June. Part of Element Market’s unique value proposition is its low fees, zero-cost minting and cross-chain interoperability. These features make it more desirable for creators (and collectors!) igniting the platform’s skyrocketing popularity.

Magic Eden continues to have a strong presence, doing as much as the seventh most traded NFT marketplace all the way back in June. Ronin Market standout Ronin Market has gained momentum, recently rising to become the ninth most-traded all NFT market platforms by June. These platforms focus on their own unique niches within the NFT space, providing tailored features and curated collections.

CryptoPunks' Enduring Popularity

Even with the boom of new NFT projects, CryptoPunks have maintained their value and ongoing success with billions of dollars in royalties. Over the last 30 days, CryptoPunks had a 30-day trading sales volume of $10.7 million. This only goes to show you just how popular and appealing the constant investment of these legendary NFTs are.

This ongoing enthusiasm for CryptoPunks shows how much historical significance and community support can matter in the NFT market. As the market matures, created assets and culture-rich projects such as CryptoPunks will always find ways to preserve their value and impact. The CryptoPunks trading volume is a good reminder of the enduring impact from the first NFT projects.