Introduction

Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Transactions take place on Optimism, but the data about transactions get posted to mainnet where they are validated. It’s like driving in a less crowded side street while benefiting from the security of a highway. Optimism is the second-largest Ethereum layer 2 with a total of $313 million locked into its smart contracts, as of this writing, according to Defi Llama. Arbitrum comes first with $1.32 billion. [1]

Methodology

Here we are going to analyze the NFT selling price in Optimism. Therefore, we use table 'optimism.core.ez_nft_sales’ . We show the results in three parts. In the first part, we calculate general information about sales volume, number of buyers and average sales in Ethereum. In the second part, we investigate NFT price distribution for Optimism and Ethereum. In the third part, we show the most popular NFTs in terms of transaction volume and number of transactions in both blockchains

Results: Part One

In figure #1, the USD value of the sales volume for different tokens is shown. It can be seen that more than 99.8% of sales were made with ETH tokens. As a result, the small number of transactions made with OPToken can be ignored. In the continuation of the analysis, the transactions carried out with the OP token have been ignored.

Results: Part Two

From here on, we also show the results for the Ethereum mainnet for better comparison. In order to make a fair comparison in the Ethereum main network, we only consider transactions made with ETH tokens.

Results: Part Three

Key findings

• Almost all NFT sales transactions in Optimisim are done with ETH tokens.
• In the days of September 20 and 21 this year, NFT sale volume has increased greatly on Optimism.
• From the first of September until now, the number of unique buyers has increased significantly.
• Since the first of May, the average selling price of each NFT has decreased significantly.
• About 71% of NFTs were sold for less than 0.01 ETH on Optimism. While this value is only about 14% in the Ethereum mainnet.
• Since September 20th, more NFTs have traded for more than 0.01 Ethereum. This shows that more popular and well-known NFTs are trading on optimism recently.

Analysis by Mehran Alyali

Contact me:

• Discord: mehrancrypto#6219
• Twitter :

References

[1] https://www.coindesk.com/learn/what-is-optimism/

Conclusion

In general, it can be said that the sales volume and price of NFT in the Optimism was much lower than the main Ethereum mainnet. However, a significant growth in the average price of NFT has recently been observed in Optimism. This is a sign of growing NFT transactions on Optimism.