Optimism NFTs

NFT 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.

Introduction

Optimism is a Layer 2 scaling solution for Ethereum that supports all Dapps and it runs all computations and data off-chain. So, due to this, Ethereum's transactions per second are increased and transaction fees are decreased, rather than running all computation on the Ethereum network.

In this article, we will see the NFTs on Optimism chain and assess its performance in terms of standard metrics etc.. with supporting visuals.

As part of this dashboard, we will look into the following analysis

• Daily Transactions Count on Optimism chain

• Cumulative Transactions count on Optimism

• Daily users count who performed Optimism transactions

• Cumulative Users count on Optimism chain

• Daily fees spent for Optimism transactions

• Cumulative fees spent on Optimism over time

• Average number of Transactions and average time per block

• Top 10 NFT Collections on Optimism network etc..

• All DEXs and Dapps supported on Optimism chain

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References

Observations

From all the above graphs or visuals, here are few observations:

• A maximum number of users around 63K have interacted with Optimism chain on 27th of July 2022 and on a whole, the total users transacting on Optimism has raised suddenly on 27th July 2022.

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• The percentage of Successful transactions has reached at its peak on 27th June 2022, with 49.5% where as its average success rate has raised in the month of July 2022.

Key Takeaways

• Uniswap is the most popular NFT collection in terms of the total number of NFT transactions performed so far on Optimism chain.

• There are around 5 dapps supported on Optimism chain, such as chainlink, gnosis safe, bit btc, elk finance and terra. Chainlink is the dapp with which most of the users have interacted on Optimsim.

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• Among the DEX projects supported on Optimism chain, velodrome finance is the most popular and frequently interacted DEX project comapratively.

Observations

• There has been a sudden raise in the transaction fees starting July 10 to July 26th 2022, later which it started coming down leaving a positive sign.

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• The average time taker per block appears to be high on 9th July 2022, further which there is a slight downward trend noticed which indicates an improvement in the transaction performance of Optimism chain.