Try Quests to earn AVAXNFT Comparison
Compare and contrast the NFT market and ecosystem across at least three different chains (you can do more if you wish, but there must be at least three included.) Explain how the various chains differ in terms of metrics such as: Total Sales - Total Unique Buyers - Total Volume - Average Sales/Day - Average Buyers/Day - Average Sales Price/Day
Introduction
The Proof of Stake (PoS) mechanism of the popular layer-1 blockchain platform Avalanche addresses or resolves the trilemma of blockchain scalability, security, and decentralization. In a manner similar to Ethereum, smart contracts enable the development of decentralized applications and services on its network.
For layer 2, there is more than one scalable option. The ability to see the bright side of things is one. Optimistic rollups make advantage of a method that condenses massive volumes of data into manageable packages. In comparison to Ethereum, the cost of using layer 2s like Optimism and Arbitrum is significantly lower.
Rollups are a tactic employed by optimism, more specifically optimistic rollups.
On the Ethereum mainnet, a rollup simply combines the information from multiple transactions into one (layer 1). Non-fungible token (NFT) mints, token exchanges, etc., can all make use of these.
The rollup methodology operates on the assumption that anything is true unless it is disproved. An alleged fraudulent transaction can be contested by submitting a "fraud evidence" and then recalculating the transaction using state data from a specified time frame. For this reason, the fuel cost of doing the fraud-proof calculation is covered.
What’s Going on Optimism, Arbitrum & Avalanche NFT marketplaces?
What we will looking at in this dashboard?
> > 1. Comparison of the total number of buyers and sellers and sales and the total volume of transactions. > 2. Daily average number of buyers and sellers and sales and sales prices > 3. Daily number of buyers and sellers and sales and volume of sales > 4. Daily accumulation of volume and number of sales
Method
In this dashboard I tried to compare the Avalanche network with Optimism and Arbitrum in NFT marketplace to achieve a visions of these network on user behaving and cashflow.For this I used core.fact_event_logs tables in Flipsidecrypto database of this three network to find formerly mentioned metrics.
Its necessarily to mentioned that, to calculate the AVAX token price I used avalanche.sushi.ez_swaps table and found WAVAX/USDC pair and by use of that, found the daily average price of AVAX to calculate the sales volume in $USD. In this dashboard, all information is based on the last 90 days.
To get the information about the daily averages, I have used the sum of the total information divided by 90.
The following formula is used to obtain information related to daily accumulations:
sum("X") over (order by date) as "Cumulative X"
Part I : Overall View
In this part we acheive a overall view of this three network as assessed metrics such as following findings:
| Metric | Avalanche | Optimism | Arbitrum |
|---|---|---|---|
| Total count of Sellers | 14.749 K | 5840 | 21.295 K |
| Total count of Buyers | 14.157 K | 7437 | 31.626 K |
| Total Sales Volume in $USD | 119.682 M | 277.125 K | 3.733 M |
| Total count of Sales transactions | 95.454 K | 20.263 K | 62.508 K |
Part II : Information about daily averages
In this section, we have discussed the information related to the daily averages of these three networks:
| Metric | Avalanche | Optimism | Arbitrum |
|---|---|---|---|
| Average Daily Sellers | 163 | 65 | 237 |
| Average Daily Buyers | 157 | 83 | 352 |
| Average Daily Sales | 1061 | 225 | 696 |
| Average Sales Price $USD | Daily | Daily | Daily |
Information about the daily average of buyers and sellers and sales is obtained by dividing the total buyers, total sellers and total sales by 90, but the average daily sales price is obtained from the average sales prices of NFTs in each day.
As you can see, the average selling price of NFTs in Avalanche is higher than the other two networks, especially in the last month, followed by Arbitrum and lastly Optimism.
⏳ Findings:
July was the most Vibrant for Optimism NFTs marketplace, so that on July 27th, 2100 number of NFTs were sold, in contract of 1625 number in Avalanche.
But in Arbitrum June was a vibrant month with the highest volume day on June 21th, with 2.4k transactions and nearly 2k buyers on that day.
The day with the highest sales volume for Avalanche was July 12th, with 2135 sales number.
On August 24, 2022, the largest volume of NFT sales took place in the Avalanche network with the number of 22 million dollars.
⏳ Findings:
The charts below show the cumulative sales volume in ETH and AVAX and the number of NFTs sold.
- In the last 90 days, about 3500 ETH volume of NFT transactions with about 20 thousand transactions have been recorded in the Optimism network And in the Arbitrum network, with about 62 thousand transactions, the transaction volume was about 3000 ETH And in the Avalanche network, with about 96 thousand transactions, the volume of transactions was about 2.75 million AVAX.
- Most of this growth occurred in the June-July period for Optimism, and from around August 20th to today for Arbitrum and Avalanche.
Conclusion
-
As you can see in the charts above, in the last 90 days, the number of NFT buyers and sellers and their daily average has ranked first in the Arbitrum network, but the Avalanche network has ranked first in the volume and number of NFT sales and their daily average. and in almost all parameters, the Optimism network ranked third.
\
-
As you can see in the daily charts, most of the parameters in the months of June and July for the Optimism network have increased compared to the last few weeks, but for the Avalanche and Arbitrum networks, most of the parameters have increased in the last few weeks.
About:
-
Author: Hojjat
\
-
Discord: hojjat7878#8809
\
-
Twitter: @hojjat8d
\
-
Email: hojjat78delshad@gmail.com