Creators & users sell NFTs on OpenSea. They receive royalties from secondary sales (supply-side fees).

OpenSea is a non-custodial NFT marketplace protocol built on Ethereum. OpenSea was founded by Alex Atallah & Devin Finzer and launched in 2017.

OpenSea team & investors own and govern the protocol. They currently take a cut of the total transaction fees paid by buyers (revenue). OpenSea's investors include a16z, Coatue, Founders Fund, etc.

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NFT marketplaces

OpenSea

# OpenSea Active users (daily) Methodology

## 1. Overview

OpenSea daily active users (DAU) measures the number of unique wallet addresses that participate in NFT trading activity on the OpenSea marketplace each day. This metric captures both NFT buyers and sellers as distinct user types, providing insight into daily engagement levels on the platform. The calculation aggregates user addresses from all OpenSea-attributable trades across multiple protocol versions (Seaport 1.1-1.6 and legacy WyvernExchange) and applies multiple attribution methods to ensure comprehensive coverage of platform activity.

## 2. Data sources

The methodology relies on several types of raw blockchain data sources:

- **Seaport protocol events**: Parsed `OrderFulfilled` events from Seaport protocol versions 1.1 through 1.6 on Ethereum, containing detailed trade information including offer/consideration arrays, buyer/seller addresses, token details, and transaction metadata
- **Legacy protocol events**: Parsed `OrdersMatched` events from WyvernExchange protocol on Ethereum, representing early OpenSea marketplace activity
- **Function call data**: Ethereum transaction data including `atomicMatch_` function calls from WyvernExchange, `matchAdvancedOrders` and `matchOrders` function calls from Seaport, containing structured trade parameters and execution details
- **Transaction traces**: Ethereum transaction trace data used to identify OpenSea website-originated transactions through specific input data patterns
- **Attribution events**: Various Seaport `OrdersMatched` events across protocol versions used to identify matched order scenarios

## 3. Step-by-step calculation

### Component A: Seaport trade extraction
- **Purpose**: Extract and process NFT trades from Seaport protocol versions 1.1-1.6
- **Logic**: Parse `OrderFulfilled` events and flatten nested offer and consideration arrays to identify individual trade components. Determine buyer and seller roles by analyzing token types (ERC-721/1155 for NFTs, ETH/ERC-20 for currencies) and recipient addresses. Handle matched orders with special logic to avoid double-counting. Extract key trade details including order hashes, zone identifiers, token addresses, and amounts. Normalize null token addresses to WETH addresses for consistency
- **Key fields**: `block_timestamp`, `transaction_hash`, `nft_seller_address`, `nft_buyer_address`, `offer_token_address`, `consideration_token_address`, `volume_amount`, `order_hash`, `owner_id`

### Component B: Legacy wyvern trade extraction  
- **Purpose**: Extract NFT trades from the legacy WyvernExchange protocol
- **Logic**: Join `OrdersMatched` events with corresponding `atomicMatch_` function calls using transaction hash, price, maker, and taker address matching criteria. Extract buyer and seller addresses based on buy/sell hash logic (null hash indicates direction). Parse function parameters to identify NFT contracts, payment tokens, fee recipients, and trade amounts. Apply business logic to determine protocol fees and royalty estimates
- **Key fields**: `block_timestamp`, `transaction_hash`, `nft_seller_address`, `nft_buyer_address`, `volume_amount`, `fee_recipient_address`

### Component C: OpenSea transaction attribution
- **Purpose**: Identify which blockchain transactions should be attributed to OpenSea marketplace
- **Logic**: Apply multiple attribution methods to ensure comprehensive coverage. First method identifies transactions where fees are paid to known OpenSea fee recipient addresses. Second method identifies transactions executed in OpenSea-controlled protocol zones. Third method identifies transactions tagged with OpenSea's website identifier in transaction input data. Fourth method captures transactions involving matched orders across Seaport versions
- **Key fields**: `transaction_hash`, `account_address`, `owner_id`, `order_hash`

### Component D: Volume aggregation
- **Purpose**: Combine all OpenSea-attributable trades into a unified dataset
- **Logic**: Union together Seaport trades filtered by each attribution method (fee recipients, protocol ownership, website tags) with legacy Wyvern trades filtered by OpenSea fee recipients. Apply distinct operation to eliminate potential duplicates from multiple attribution methods. Preserve all relevant trade metadata including buyer/seller addresses, token information, and business classification fields
- **Key fields**: `block_timestamp`, `nft_seller_address`, `nft_buyer_address`, `chain`, `market_sector_id`, `business_segment_id`, `product_id`

### Final aggregation
- **Combining components**: Extract user addresses separately for NFT sellers and buyers from the unified volume dataset, creating distinct records for each user type to enable separate tracking of buying vs selling activity
- **Currency conversion**: No currency conversion required as this metric counts unique addresses rather than monetary values
- **Time aggregation**: Truncate all timestamps to daily boundaries using day-level time truncation, then group by the resulting daily timestamp along with user type and chain
- **Final calculation**: Apply distinct operation to count unique user addresses per day, user type (NFT seller or NFT buyer), and blockchain chain, resulting in daily counts of unique active users segmented by their trading role on the platform

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique revenue-generating users over a fixed 24-hour window.

OpenSea

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown