OpenSea Responds To Incorrect Stats In Fortune Magazine

• OpenSea responded to a post calling out Fortune Magazine for publishing false information.
• OpenSea urged people to DYOR.
• The volume of the NFT marketplace is currently down 7.6% over the last 24 hours.

One of the largest Ethereum-based NFT marketplaces, Opensea, took to Twitter on August 30 to respond to a post calling out Fortune Magazine for publishing false information. The post was made by a Twitter user known as bkroberts.eth.

According to the post, “Fortune Magazine published a story claiming that OpenSea’s volume is down 99% since May”. The Twitter user went on to state that the framing, methodology, and source were wrong and that they considered the misstep reckless.

OpenSea then responded to this post by acknowledging that “public data on the blockchain can still be misconstrued, often to the detriment of creators and communities.” In addition to this, OpenSea took this as an opportunity to spread awareness about the importance of doing your own research (DYOR).

According to data from DappRadar, OpenSea’s volume is currently down 7.6% over the last 24 hours to now stand at $13.45 million. Transactions for the NFT marketplace are also down over the last day. DappRadar data suggests transactions for OpenSea stand at 56.54K, which is a 4.51% drop over the last day.

Its users have also dropped by around 2.66% over the last day to now stand at 26.22K.

The monthly data tells a similar story. OpenSea’s volume over the last 30 days saw an almost 30% drop and stands at $337.65 million. Just like with the 24-hour data, the number of users on OpenSea also saw an 8.82% decline over the last month.

The transactions on the NFT market over the previous month were also down 14.36%.

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