Try Quests to earn cryptoOptimism NFT Purchasing Behavior
Method⚡
For solving this bounty and cover all the questions above, at first i analyzed some different metrics on Optimism NFT market from multiple angles in daily and overall types, then i compared it to Ethereum NFT market from multiple angles and see that Optimism can beat Ethereum in future or it doesnt have the potential to do that. i extracted data from ==Ethereum.core== and ==Optimism.core== databases provided by Flipsidecrypto and mainly used EZ_NFT_Sales table from both databases to collect the data put it together.
I used log scale in some charts to make them more understandable.
P.S: I didnt used any specific timeframe, but in some places for a fair result, I have limited timespan from the beginning of the year. ==2022-01-01==
Introduction🚩
What is Optimism?
Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.
The chart above are showing different angles of the distribution of Optimism NFT sales by price in both ETH and USD. As we see, it is obvious that most users are spending less than 10$ to buy Optimism NFTs or less than 0.01 ETH and that means the same amount of USD that i meantioned earlier. According to the daily charts, recently after mid September, there were more sales are being recorded on Optimism NFT marketplaces and it looks like users are spending more money to buy different types of NFTs. This case can has 2 reasons, 1 is that new people has joined to Optimism and want to spend more money on NFTs or 2 is the number of expensive NFTs are increasing. As the time passes, in all NFT markets they will be more NFTs both expensive and cheap and users will have more choices to spend their money on, for example buy 1 expensive NFT or multiple cheap NFTs. I mean the variety of NFTs will increase over time but in the chart that i put under, i show New users that joined Optimism NFT marketplaces in past 3 months since the beginning of August and after mid September that we had more sales with higher amounts of money, the number of new users that joined Optimism marketplaces was increased too! And obviously when there are more people to buy especially those who just got familiar with NFTs, there will be more variety of sales amounts.
In these bar charts im showing the distribution of Optimism NFTs buyers and sellers by their bought or sold NFTs in ETH or USD amount. As we observe in these charts most of buyers and sellers are buying and selling less than 100$ but when we look more precisely, most of the sellers with a short distance to less than 10$ users, sold between 10$-100$ but in Buyers chart it is not like that, most of the buyers bought less than 10$ but there is a short distance to 10$-100$ users too like sellers. There are over 600 users that spend over 1000$ to buy NFTs on Optimism and tbh its not really that big but we should consider that not much time has passed since the launch of Optimism.
In this part, i went deeper in users with their sales amount in ETH, as we see most of users on Optimism (over 96K) were recorded sales less than 0.01 ETH .
According to the left chart, in most days users bought and sold less than 0.01 ETH and after mid September, 0.01-0.1 Amount of ETH sales increased.
In this section, i compared Ethereum NFT stats to Optimism and saw what is going on between these 2 popular blockchains.
As we see above, Ethereum had so many more users (Buyers and Sellers) than Optimism, Ethereum had over 1M buyers and sellers but Optimism had under 100K over time.
Optimism has launched recently and in this short period recorded over 5.5M sales volume.
In the right bar charts, i compared distribution of their sales by amount in both ETH and USD. It seems that Ethereum users mostly recorded 10$-100$ sales but Optimism users recorded sales less than 10$. I think the reason of this is because Ethereum Top NFT Collections are more expensive than Optimism Top NFT Collections and Ethereum have so many more variety of users than Optimism especially Whales (Wallets with high ETH or USD balances).
Conclusion💡
- Over 94K total users (Buyers and Sellers) on Optimism recorded over 138K total sales over time
- Optimism NFT market recorded almost 4M sales volume in USD and 2640 sales volume in ETH over time
- Recently after mid September 2022, daily number of Optimism NFT sales increased approximately and most of it were less than 0.01 ETH or less than 10$
- As well as sales, number of users also increased after mid September too
- Over 95% of Optimism users spent less than 0.1 ETH or less than 100$ on flipping NFTs (Flipping NFTs means trading them)
- In comparison, Ethereum NFT market has so much more buyers,sellers and sales than Optimism over time
- Optimism NFT market launched almost 4 months ago and Ethereum NFT market launched over 4 years ago, in this short period of time that Optimism NFTs has launched, they did a pretty well job and recorded massive stats
- CryptoPunks collection has the most expensive NFTs on Ethereum and in the other hand, Mirror and Optipunk collections have the most expensive NFTs on Optimism
- In overall, Optimism NFT market has the potential to compete with Ethereum NFT market in so many angles in the near future
In these bar charts, i showed Ethereum and Optimism top NFT collections with their maximum NFT price in both ETH and USD.
Cryptopunks is one the most popular and most expensive NFT collections on Ethereum. the most expensive NFT of this collection has 532M price in USD but when we compare it to Optimism, the most expensive NFT is for Optipunk collection and its just 14K in USD. We see a huge difference here between these popular NFT collections on Ethereum and Optimism when we compare them to each other and realize that Top NFTs on Ethereum is much more expensive than Optimism.
Most expensive NFT by ETH price is for Mirror collection on Optimism with 6.15 ETH price and when we compare it to most expensive NFT on Ethereum that is for Cryptopunks NFT collection with 124.4 ETH price, its nothing at all.
In the bar charts above, i showed daily minimum,average and maximum price of NFTs from 2 popular and Expensive collections from both blockchains, CryptoPunks from Ethereum and Mirror from Optimism.
As we see, in overall CryptoPunks had more expensive daily floor and max price than Mirror overtime but there were some days that Mirror stats specially maximum price crossed cryptoPunks and went higher than that. It seems NFT collections on Optimism have the potential to reach or even cross Ethereum NFT collections floor or maximum prices in the near future.