Opensea Fees

    Opensea is a popular marketplace for NFT trading. Users can also access Opensea on Polygon network and will be able to enjoy the cheap gas fees when buying, selling, listing, auctioning using MATIC token instead of Ether. So, first we managed to identify the wallet address that are used to collect fees from on Opensea for Polygon which is 0x5b3256965e7c3cf26e11fcaf296dfc8807c01073.

    In conclusion, Opensea on Polygon has yet to reach it's full potential as not many project utilize Polygon as of now but soon it can surely catch up with Ethereum network.

    First we take a look at daily fees collected by Opensea from transaction on Polygon. The most used token on Opensea is WETH. In the graph below we can see the WETH tokens and the USD equivalent values collected for the past 90 days. The past few days are some all time highs mainly because of the NFT craze that are going on right about now. So, we can expect higher fees in the coming days as well since VISA and many other institutions, celebrities and influencers seeing the value in NFT.

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    Next we will see the top 10 NFT project by fees collected on Opensea Polygon network. The highest fees was collected by NFT project ZED Horse with almost 1.4M USD and second place is at 89K USD only which is Chicken Derby.

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    Other than WETH, there are some usage with DAI. So, graph below shows fees collected in DAI for NFT traded on Opensea using Polygon Network. But DAI usage is miniscule compared to mainstream WETH.

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