📜 Introduction

In this dashboard, we are going to examine the distribution of all NFT sales on Optimism by price as well as floor price and compare them with Ethereum blockchain.

• First of all, we are going to look at the distribution
• In the next step, we are going to dig deeper, and look at the average turnover of NFT projects on each blockchain.
• Next, we are going to analyze some trade size statistics.
• Finally, we are going to discuss floor price on each blockchain.

🤔 Approach

Data Source and Tables

To conduct our study, we are using blockchain data provided by Flipside Crypto. From their datasets, following schemas are related to Optimism and Ethereum,

ethereum.core and optimism.core , from these schemas we are going to use following tables :

• ez_nft_sales

• dim_labels

• fact_hourly_token_prices

  \

Methodology & Definitions

It should be noted that, fortunately, EVM based blockchains have very similar table and schema in Flipside Crypto database, this makes our job much easier.

The first part of bounty asks us to compare sales distribution using their ETH value, there are some trades on Optimism that are done using OP token, these trades have to be converted to their equivalent value in ETH. We have to do the same for NFT sales on Ethereum, on Ethereum a wide range of tokens are used to purchase NFTs.

We are using dim_lables table to label different NFT projects.

Turnover is defined as the averaged value of maximum times it takes for an NFT to sell divided by the number of sales.

To analyze floor price, we are using projects with a minimum of $10,000 in total sales volume.

Study Period

We are conducting our study using data available since Jan 2022. Optimism NFT sales is available since June 2022.

📊 NFT Sales Distribution 

💰 NFT Sales Turnover

This chart depicts the turnover of the top 30 NFT projects on Optimism. the average turn over can be seen as a solid line in this chart.

Turnover is defined as the averaged value of maximum times it takes for an NFT to sell divided by the number of sales.

It can be seen that the average turnover for Optimism projects are around 76 and this number for Ethereum is around 123.

💸 Trade Size

The chart below shows the maximum and average weekly sale price for NFTs as well as the various percentiles based on sale price. 50% line is actually the median sales price.

The maximum sell price and the 90% sell price are very different in Ethereum, while not so much in Optimism.

📈 Floor Price Analysis

In this section we are going to take a look into the floor price and the monthly average floor price on each blockchain. as already mentioned, we are including projects with at least $10,000 in total sales volume.

It can be seen that:

• The first thing we can notice is that the average monthly floor price in Ethereum is significantly higher than Optimism.
• The average monthly floor price in Ethereum has declined over time.
• Between September 13 to 21, Optimism experienced increased floor price, while having a massive spike in floor price, it could not reach Ethereum level.

Ethereum is recently known to be an expensive blockchain, high network fees makes this blockchain lucrative and attracts users that can spent more money on things like NFTs, while Optimism can be called a frugal chain that rolls up transactions to reduce cost, it was created to reduce transaction fees. Therefore we cannot expect lucrative NFT and art markets to grow much on Optimism.

It should also be noted that Ethereum is older and more mature than Optimism.

✍️ Contact Me!

Discord: ThatGuy#8467

Twitter: @realAminTakhti

Distribution

The charts below show the distribution of NFT sales on both the Optimism and Ethereum blockchains based on their number of sales, with all other tokens normalized to ETH.

It can be seen that:

• On Optimism most sales (almost 72% of all sales) are worth less than 0.01 ETH.

  In contrast, on Ethereum only 5.3% of the sales are priced under 0.01 ETH.

• On Optimism, there is rarely a sale worth more than 1 ETH, while it is more common on the Ethereum mainnet.

Most common NFT sales on Optimism are in range of between 0 to 0.01 ETH and on Ethereum are between 0.1 and 1 ETH.

Temporal Analysis

The following chart depicts the weekly number of sales grouped by price range on Optimism and Ethereum.

In the past few weeks the volume on Optimism has significantly increased, with this increase the worth of NFT sales has also increased.

On the other hand, on Ethereum, more cheaper NFT has been sold and the dominance of 0.01 to 0.1 ETH range has increased.

🔎  Summary

• Most common NFT sales on Optimism are in range of between 0 to 0.01 ETH and on Ethereum are between 0.1 and 1 ETH.
• In the past few weeks the volume on Optimism has significantly increased, with this increase the worth of NFT sales has also increased.
• On Ethereum, more cheaper NFT has been sold and the dominance of 0.01 to 0.1 ETH range has increased.
• Floor prices are higher on Ethereum
  • Ethereum is recently known to be an expensive blockchain, while Optimism was created to reduce transaction fees.
  • Ethereum is older and more mature than Optimism.
  • Lucrative markets such as NFT and Art markets are far more active on Ethereum.