OpenSea has reached its highest monthly user count since mid-2023 in the NFT market. With the completion of its revamped version OS2, OpenSea now offers more than just NFT trading. According to Dune Analytics, OpenSea hit 467,322 active users in May 2025 — the highest figure in two years. User numbers are now approaching pre-downturn levels seen in early 2023. 

By the end of May, daily active users climbed to 56,400 — the highest daily figure since April 2023. After remaining below 25,000 for a year, daily user counts have revived. On May 30, the user count jumped to 111,724, which included 87,601 new users and 24,123 returning users. Even in early June, 236,091 people interacted with the platform. If the trend continues, June could surpass May. 

Despite the growth in user numbers, transaction volume remains below past peaks. OpenSea recorded $81 million in trading volume in May — far from the $5 billion peak in January 2022. Nevertheless, experts suggest engagement quality is improving. Marketing Director Adam Hollander noted a 40% increase in weekly unique collectors since January 2025. 

OpenSea’s growth coincided with the official launch of the OS2 platform. Recently out of beta, OS2 now supports full token trading across 19 different blockchains. With this update, fungible tokens on Solana can also be traded. Additionally, NFT minting and multi-chain transactions can be handled through a single interface. 

Adam Hollander highlighted that the new system simplifies the user experience. Users can now manage all transactions with one wallet instead of dealing with different apps and bridges. NFT minting, game token swapping, and memecoin purchasing can all be done on the same platform, marking a major shift in digital asset management. 

NFT Market Signals a Recovery 

According to CryptoSlam, the number of NFT buyers surged by 55.08% to 826,992 in May 2025. Sellers also increased by 18.12%, reaching 257,017. However, transaction count dropped by 25% to 1.65 million. Ethereum maintained its lead with $30.3 million in sales, but saw a 15.57% drop in the final week of the month. Meanwhile, Ethereum’s wash trading volume rose by 11.33% to $1.8 million. 

On another note, Courtyard — a platform that tokenizes physical trading cards — recorded $20.7 million in weekly sales in April. This surge coincided with Polygon outperforming Ethereum for a full week. Polygon-based NFTs surpassed $2 billion in total sales. Monthly sales volume rose from $16.3 million in November 2024 to $74.7 million in May 2025. 

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Polygon Leads Weekly NFT Sales

As of April 22, data shows that Polygon NFTs reached $22.3 million in weekly sales volume, climbing to the top. This figure represents 24% of the total $92.9 million NFT sales recorded during the same period. Additionally, the number of NFT buyers on the network jumped by 81%, surpassing 39,000.

Ethereum came in second with $19.2 million in weekly NFT sales. Mythos Chain followed with $14.3 million, and Bitcoin-based collections ranked fourth with $14.1 million in sales.

Tokenized Physical Cards Boost Polygon Activity

The rise in Polygon NFT sales was primarily driven by a real-world asset (RWA) collection. The RWA model involves tokenizing tangible assets—such as art, real estate, or collectibles—on the blockchain, increasing accessibility and tradability.

According to data, the main driver behind the surge was the Courtyard NFT collection, which generated $20.7 million in sales, outperforming other leading projects.

Courtyard is a digital marketplace that focuses on graded physical card collections, including Pokémon, basketball, and baseball cards. These cards are stored and insured in a vault managed by a security company, meaning the NFTs are physically backed. Buyers can choose to redeem the physical card by burning the NFT, which permanently removes it from circulation.

On-Chain RWAs Become a Strong Narrative in 2025

In Q1 2025, on-chain RWA projects have gained serious momentum. Data from RWA.xyz shows that tokenized assets have reached a total value of $21.2 billion, excluding stablecoins. The current stablecoin market cap stands at $227 billion.

These developments signal a clear shift in the market, marking the strengthening connection between physical assets and digital ownership in both the NFT and RWA sectors.

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