Introduction

Avalanche is one among the popular layer-1 blockchain platforms which addresses or resolves the trilemma of blockchain scalability, security, and decentralization through its Proof of Stake (PoS) mechanism. In a similar way to Ethereum, it enables the development of decentralized applications and services on its network through smart contracts.

The below 3 key components of Avalanche network helps in providing the solution and addressing the trilemma scalability & interoperability concerns.

• Exchange chain (X-chain)
• Contract chain (C-chain)
• Platform chain (P-chain)

In this article, we will explore the NFT transactions on Avalanche chain in terms of standard metrics such as the daily NFT sales volume, daily users who has bought/ sold NFTs, total number of NFTs sold, most popular NFT collections etc.. with supporting visuals.

References

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What does an NFT means ?

NFTs stands for Non-fungible tokens, where in Non-fungible can be defined as something that cannot be exchanged for another item because its unique. For example, one piece of Art is not equal to another as both will have unique properties.

Basically, NFTs are tokens that lives or survives on a blockchain and represent ownership of unique items. These NFT tokens in general will contain bit of information specific to it, such as unique token name, symbol etc.. and will be owned by the creator or artist of that token. These NFT tokens will be sold by performing sell & buy transactions on the particular blockchain.

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Observations:

• chikn is the most popular NFT collection in terms of maximum number of of NFTs sold so far and it grabs the second place in terms of the total number of users who bought those NFTs so far on Avalanche platform.

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• Where as, lost worlds is the top NFT collection in terms of the total number of users or wallets who have purchased NFTs on Avalanche platform, followed by bold point and heroes of nft collections.

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• A maximum count of 606.70K NFT transactions has been recorded for the NFT collection chikn, followed by lost worlds & bold point. On the other hand, Carbada NFT collection seems to be the top most one based on the Total transaction fees spent on Avalanche platform.