Top NFT Marketplaces in Q1
Magic Eden emerged as the top marketplace in transaction volume for Q1 2024, recording $163 million in January, $256 million in February, and a sharp increase to $756 million in March, totaling $1.7 billion in the first quarter.
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Meanwhile, Blur maintained strong transaction activity, generating $500 million in January, $502 million in February, and $530 million in March. This resulted in over $1.5 billion in NFT sales for the quarter. With a market share of 28%, Blur experienced a growth of 25% when compared to data from Q4 2023.
Moreover, the OKX NFT Marketplace—linked to the OKX crypto exchange—claimed the third spot, amassing over $588 million in sales during the first three-month stretch. However, the trading volume for Bitcoin NFTs on the OKX platform saw a marked decline of 73.3%.
Additional top contenders in the NFT market highlighted included Tensor NFT Marketplace, with a turnover of $484 million; OpenSea, with transactions totaling above $457 million; and UniSat NFT Marketplace, clocking in at more than $139 million in Q1.
CryptoPunks, MOOAR, X2Y2, and Ordinal Wallet were also mentioned, each contributing to the cumulative trading volume of $4.7 billion during this period.
