Try Quests to earn cryptoOpensea Fees
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OpenSea is an American online non-fungible token (NFT) marketplace headquartered in New York City. The company was founded by Devin Finzer and Alex Atallah in 2017.
OpenSea offers a marketplace allowing for non-fungible tokens to be sold directly at a fixed price, or through an auction, based on the Ethereum ERC-721 standard, the layer-2 scaling solution for Ethereum Polygon, the KIP-7 standard for Klaytn, and the SPL standard for Solana.
In 2021, following a heightened interest in non-fungible tokens, the company's revenue reached $95 million in February 2021 and $2.75 billion in September of that year. By January 2022, the company had been valued at $13.3 billion and has been considered the largest non-fungible token marketplace.
- The time frame considered for this analysis is from the beginning of June, because the new Polygon tables do not have a date before June and are incomplete.
Daily fee (Opensea income)
In the following, you see two graphs, the first graph shows the total daily fee based on the dollar unit. The second chart also shows the amount of fees paid to Opensea in terms of all four cryptocurrencies including USDC, Dai, Ethereum and Revv. As it is shown, the amount of fee paid to Opensea reached the maximum on June 15th and the lowest amount on June 24th. According to the first chart, Opensea’s income has decreased considerably and has had a small income in recent days.
Conclusion
The results of the present work are summarized as follows:
1- Fee payment on Polygon network in OpenSea is done by four cryptocurrencies including USDC, DAI, Revv, and Weth.
2- The share of Dai and Weth has been higher than all other cryptocurrencies.
3- The amount of OpenSea revenue from the Polygon network has been very variable and has varied from $2,600 on June 24 to $12,000 on June 15.
Methodology
Calculating the amount of fee paid to OpenSea (OpenSea revenue) by traders of non-fungible token (NFT) has always been a fascinating topic for crypto users. Maybe many of you are curious to know how much OpenSea earns. To answer this question, please read this article to the end.
According to the findings of the author of this article, the profit from the sale of NFT is approximately equal to 2.5% of the price of each NFT. Therefore, 2.5% of every NFT sold on OpenSea will be deposited into the OpenSea wallet(s). Based on what can be understood from OpenSea transactions, the two main wallets for depositing fees in Opensea are:
- 0x8de9c5a032463c561423387a9648c5c7bcc5bc90
- 0x5b3256965e7c3cf26e11fcaf296dfc8807c01073
Now it is enough to calculate the amount of input to these wallets. Of course, it should be noted that these wallets have other inputs besides the fee, which will be excluded from the results.
Total fee paid to OpenSea
In the following, you can see four tables that show the amount of fees deposited by users to the two wallets that were introduced in the previous section. As you can see, there are only four main cryptocurrencies that OpenSea NFTs are bought and sold based on them, and therefore paying the fee is based on one of these four cryptocurrencies. According to these tables, most NFT purchases and sales have been made using Ethereum and Dai tokens.