NFT Search Tool:

This search tool will display your selected Optimism NFT projects Average Price, Total sales volume, Median price, Total Sales, and the highest price of any NFT sold from that project. To use it all you have to do is type a Optimism NFT project of your choice into the variable at the top labeled “NFT_Project”, once you do this it will adjust for your selected NFT and give the metrics above. This tool is set on default to optipunk as it is the most popular NFT project on Optimism. To make this tool a little easier to use I have a list of all the NFT projects on Optimism ordered from most to least popular which can be seen in the top left corner of this page, just copy and paste any of those projects in the “NFT_Project” spot and you will see there respective metrics.

Ethereum NFT Price Analysis:

• This distribution similar to the last one also appears to be largely left skewed once again highlighting that the median is likely a better metric to look at to determine typical price of an NFT on Ethereum.
• The distribution for price of NFTs on Ethereum is a lot more spread out with a significant percentage of NFTs at most price points
• About 94% of all NFTs on Optimism are less than 1 ETH.
• It appears that NFTs within the price range of .01 -1 ETH are much more popular than those at less than .01 ETH which is very different from Optimism where most of the NFTs reside at less than .01 ETH
• NFTs on Ethereum tend to be significantly more expensive than those on Optimism.
• There are many NFTs on Optimism which break the 10 ETH barrier in price, of which there are none on Optimism highlighting that the base price appears to be much higher on Ethereum.
• Although only time will tell as of now it appears that Ethereum NFTs have a much higher chance of attaining much larger prices as compared to Optimism NFTs.

NFT Sales Analysis:

• Over time the average price of Optimism NFTs has gone down significantly, they seem to have lost value over time and then plateaued.
• The average price of Optimism NFTs have seen highs over over .4 ETH but now sit .01-.02 ETH on a daily basis majorly down from before.
• Over there lifespan Optimism NFTs have seen major fluctuations in average prices.
• Although the average price of Optimism NFTs has been going down over time the total sales have gone up massively, is likely that this correlates to there decrease in price and thus greater accessibility.
• The Total Sales have seen some serious fluctuations but overall have been on an upward trend over time which is likely to continue as more projects enter the space and make more NFTs for the community.

Analysis:

• Having a higher average price NFT doesn’t always increase the total sales volume in fact sometimes the cheaper NFTs sell so many NFTs that they amass more volume than the more expensive ones.
• The majority of the top 25 NFTs projects on Optimism have sold under 1000 ETH in total NFT Volume.
• Many cheap and expensive NFT projects have sold nearly the same total volume
• The majority of the top 25 NFT projects have somewhat similar average price of around .1 ETH although some are seen to .25 and one pegapal has an average price of .73 ETH
• optipunk and optimism are the two largest NFT projects on Optimism by a significant margin.

Conclusion:

1. The wide majority of NFTs on Optimism are between 0 and .01 ETH.
2. The price of NFTs on Optimism are much lower than that of NFTs on Ethereum
3. NFTs on Ethereum have the potential to see much larger prices than those on Optimism.
4. The Price of NFTs on Optimism has been going down over time while the sales of these NFTs has been going up massively.
5. Many of the most popular projects on Optimism by total sales volume tend to sell there NFTs for a lower average price.

Metrics:

1. All Optimism NFT Projects Ordered by Popularity (Most to Least)
2. Optimism NFT Search Tool
3. Median Optimism NFT Price in ETH
4. Largest Optimism NFT Price in ETH
5. Average Optimism NFT Price in ETH
6. NFT Price Distribution
7. Percent Breakdown of NFT Price Distribution
8. Largest Ethereum NFT Price in ETH
9. Median Ethereum NFT Price in ETH
10. Average Ethereum NFT Price in ETH
11. Ethereum NFT Price Distribution
12. Ethereum Percent NFT Price Distribution
13. Average Price of Optimism NFTs Over Time in ETH
14. Optimism NFT Total Sales Over Time
15. Average Price, and Total Sales of Top 25 NFT Projects
16. Top 25 Optimism NFT Projects by Average Sales Price in ETH
17. Top 25 Optimism NFT Projects by Total Sales Volume in ETH

Methodology:

In this dashboard I am going to be looking a handful of metrics surrounding Optimism NFTs. First we are going to explore the price points for these NFTs and how they have changed over time. Next we are going to compare the price points of Optimism NFTs to those of Ethereum NFTs to see how they differ and how they are similar. Lastly we are going to look at the most popular NFT projects on Optimism and see how there price points effect there sales. I will then be discussing these metrics in detail and sharing any interesting or insightful conclusions.

What is Optimism?

Optimism (OP) is a cryptocurrency network that has tasked itself with solving the Ethereum (ETH) blockchains scalability problem by rolling up transactions into batches to reduce the fees paid by users in the process. For more information click here.

Optimism NFT Price Analysis:

• The Average price of Optimism NFTs is much higher than that of the Median price meaning the distribution is left skewed, highlighting that the median is likely a better metric to refer to in terms of typical price of NFTs as it is unaffected by outliers unlike the average.
• more than 75% of all NFTs sold on Optimism are for less than .01 ETH
• 97.1% of all NFTs sold on Optimism are less than .1 ETH in price.
• There doesn’t appear to be a huge market for super expensive NFTs on Optimism.
• The largest price an NFT has ever been sold for on Optimism is 6.15 ETH highlighting that they don’t tend to reach the extreme prices that NFTs on Ethereum can.