Try Quests to earn cryptoOpensea Fees
Introduction
Using the Polygon network, OpenSea users have been able to trade non-fungible tokens (NFTs) since July 2021, and this option's popularity has grown gradually since its introduction. Polygon's OpenSea, which is Ethereum-compliant, allows customers to save money on Ethereum gas fees while simultaneously speeding up transaction processing time. Polygon's sidechain network has been driving increased NFT activity on OpenSea's largest NFT marketplace for several months and hit new records some months. New collections from major international companies are partly to blame for the rise in sales.
Method
In this dashboard I used ***polygon.udm_events ***table to find amount of transactions volume where the destinations is the following addresses:
'0x5b…1073', '0xad…a5d' & '0x0e…301b'.
Opensea in Polygon Chain allows users to buy NFTs with WETH (Wrapped Eth on Polygon). As a result, WETH fees were sent to the Opensea wallet. For every transaction that transmitted WETH to these addresses, I tracked the Opensea fees collector.
- As of table 1, can observed that Opensea gained more than ==16.6m in $USD== and ==5.2k in ETH== by 1==0.85k transactions count==.
- Other assets paid as Fees are visible in this table such as DAI & USDC and others that I ignored them because of amount of them is so low that can ignored them.
Conclusion
A recent announcement made by Opensea stated that the company had laid off twenty percent of its workforce as a direct result of the decline in income. This information comes at a time when the so-called "Crypto Winter" is carrying on with its destruction of the NFT sector. A dramatic reduction of 85% in Opensea's profits was recorded in the month of February 2022, after the January with most gained profit in fees. It seems as though the platform has not fallen out of favor in the business world, and there is a continuing need for it, according to my assessment. Given that we are currently experiencing a Bear Market, that is the only course of action that makes any sense. Every single platform that deals with cryptocurrency was impacted when the bear market began.
About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
Weekly & Monthly gained Fees on Polygon Network by Opensea
Fourth Week of August and firth of February are two weeks with most gained fee on Polygon.
And third week January and a week after that are two week with most count of transactions on Polygon.
January 2022 is the month with most transactions count and most amount of gained fee volume, with more than 24% share of total paid fees. Vis 4=>7
Vis 1 => 3:
In these graphs the following metrics are depict:
- Vis 1: daily amount of gained Fees (in $USD) by Opensea and average ETH price over time are shown, that can observed that since start Polygon network on Opensae till late of December that ETH price is an upward trend, gained fees are increasingly and after that with decrease in price, the amount of achieved fees on Polygon are decreasing to date.
- Vis 2: In this chart we can sea that since Jan 26th, with dropping down in transactions count the amount of gained fees and unique users down to a most decreasingly trend to date, too.
- Vis 3: The amount of gained fees in $USD based on count of transactions shows that most large bubble that indicate the amount of gained fees, would be larger when count of transactions were on 60k to 100k number.
The 10 most lucrative NFT collection projects
- Opensea gained 2.9m in $USD from the sale of Zed Run Legacy. Of the top ten NFT collections, this one holds 53% of the fee share.
- Second place goes to the Crypto Unicoirs Market, with 722K dollars.
- An additional $351K in revenue was raised for Opensea through the sale of the Derace Horse Collection.
Vis 8=>11:
Daily amount of spent fees on Polygon network and Ethereum are compared in Vis 8, and the 9’s graph shows the total amount of gained fees on these two networks.
The cumulative growth in these two metrics are shown in the 10 & 11’s graphs.