Introduction:

Optimism is a Layer 2 Optimistic Rollup network designed to utilize the strong security guarantees of Ethereum while reducing its cost and latency.

In this dashboard, we are going to look at the following things:

• Distribution of all NFT sales on Optimism by price since 1st January 2022
• Distribution of daily NFT sales on Optimism by price since 1st January 2022
• Discuss whether there is a limit to how high a floor for a NFT collection on Optimism can reach compared to on Ethereum

The above donuts show the total number and % of NFT Sale transactions in different price groups on Optimism and Ethereum since 1st Jan 2022.

79.1% of all NFT Sales on Optimism were less than 0.01 ETH and 18.1% of all sales were in the 0.01 - 0.1 ETH range. Sales between 0.1 - 1 ETH and greater than 1 ETH were negligible at 2.61% and 0.25% respectively.

In contrast to NFT sales on Optimism, on Ethereum 0.01 - 0.1 ETH and 0.1 - 1 ETH were the top price groups with 40.2% and 37.8% of sales respectively.

The remaining price groups of less than 0.01 ETH and greater than 1 ETH has sales of 14.8% and 7.08% respectively.

The above charts show the daily number and % of NFT Sale transactions in different price groups on Optimism and Ethereum since 1st Jan 2022.

We can see that on Optimism sales in the less than 0.01 ETH price group have eaten market share from sales in the 0.01 - 0.1 ETH price group and are now < 75% of all sales.

On Ethereum, 0.1 - 1 ETH was the most dominant price group with > 55% share but has now been replaced by 0.01 - 0.1 ETH as the dominant price group with > 55% share.

Thus market conditions have impacted NFT sales on both Optimism and Ethereum.

The share of sales in the <= 0.01 ETH price group has also increased significantly on Ethereum.

The above charts show the average and median gas fees for NFT sales since 1st January 2022 on Optimism and Ethereum respectively.

We can see that the gas fees on Ethereum is much higher than on Optimism. However the gas fees is declining on both the chains.

The growth of alt L1’s as well as L2’s has largely been due to high gas fees and scalability issues of Ethereum.

Average and median gas fees on Optimism for NFT sales since 1st Jan 2022 have been 0.000268464184 ETH and 0.000145947081 ETH respectively compared to Ethereum’s 0.02314504728 ETH and 0.009669253195 ETH respectively.

Thus due to the high gas fees, it simply does not make sense to sell NFT for less than 0.01 ETH on Ethereum.

However Ethereum is also by far the most secure L1 and traders might not be as comfortable transacting high value NFT’s on other chains.

Thus there definitely is a limit to how high a floor for a NFT collection on Optimism can reach compared to on Ethereum.

Conclusion:

• 79.1% of all NFT Sales on Optimism were less than 0.01 ETH and 18.1% of all sales were in the 0.01 - 0.1 ETH range. Sales between 0.1 - 1 ETH and greater than 1 ETH were negligible at 2.61% and 0.25% respectively.

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• In contrast to NFT sales on Optimism, on Ethereum 0.01 - 0.1 ETH and 0.1 - 1 ETH were the top price groups with 40.2% and 37.8% of sales respectively.

  The remaining price groups of less than 0.01 ETH and greater than 1 ETH has sales of 14.8% and 7.08% respectively.

• Due to the high gas fees, it simply does not make sense to sell NFT for less than 0.01 ETH on Ethereum.

  However Ethereum is also by far the most secure L1 and traders might not be as comfortable transacting high value NFT’s on other chains.

  Thus there definitely is a limit to how high a floor for a NFT collection on Optimism can reach compared to on Ethereum.