Overview

Optimism is a layer 2 scaling solution that uses Optimistic Rollups to process a large number of transactions outside the Ethereum blockchain. The project claims it can trade smart contracts five to 500 times cheaper than Ethereum layer 1. It speeds up Ethereum transactions and reduces their costs by settling them on another blockchain using advanced data compression techniques.

As currently the major of the chains, Optimism is accepting NFTs on its network and has its own NFT marketplaces. ie Quix is one of the most known marketplaces there. But… what’s happening on Optimism about these NFTs?

Methodology

The intention of this dashboard is to provide an overview about the distribution of NFT sales on Optimism by its sale price. The main metrics to be analyzed are:

• Number of sales by range (in ETH and USD)
• Distribution of NFT sales by range (in ETH and USD)
• Percentage of sales above .01 ETH, above .1 ETH and above 1 ETH
• Evolution of previous percentages over time

On the other hand, we will compare the percentage numbers with the Ethereum mainnet to determine if there is a limit to how high a floor for a NFT collection on Optimism in comparison to Ethereum.

In the images above, we can see the distribution of sales by each ETH range price or USD range price. If we focus on ETH, we can see how the major of them are at a price below 0.01 ETH. Few of them are higher to 0.5 ETH. In fact, if we take a look at the percentages, 73% of the sales are below 0.01 ETH, and 20% between 0.01 and 0.05 ETH.

In terms of USD; the major of the sales are with a price below 50 USD, representing more than 90%.

Currently, a total of 153k NFT sales were done on Optimism. Among these sales, 39.6k of them were above 0.01 ETH representing almost 26% of them, 6.2k were above .1 ETH, representing around 4.2% of the total sales, while only 905 sales were above 1ETH, being no more than 0.5% of the total sales.

Finally, in the last charts, we can see the evolution of the number of sales by price range over time as well as the percentages over time. As seen, the amount of the NFT sales has increased over the past months on Optimism. Another important factor is that the percentage of sales above .01 ETH dramatically decreased since the inception, passing from more than 95% to below 30%. The other percentages seems to be decreased as well.

In this final comparison between possible high floor price on Optimism and Ethereum, we can see first of all how the NFT sales trends on both chains are so different. On the one hand, the sales on Optimism are increasing in all of the price ranges, while the sales on Ethereum are doing the contrary situation. However, there is a huge difference in numbers between both platforms, being Ethereum the most important one.

If we take a look at the percentage evolution on each of these platforms, we can see how the prices seems to be decreased more heavly on Optimism rather than on Ethereum even the decrease on sales. The major difference is in sales above .01 ETH. In the sales above .1ETH, we can see how the ETH prices also decreased considerably. Finally, for the NFT sales above 1ETH, we can see an important decrease of the percentage on Ethereum while in Optimism seems to be remained more stable. Then, we can say that the low floor price seems to be more unstable on Optimism while it seems that the high floor price limit is more consistent on Optimism rather than on Ethereum.

Conclusions

• The major of NFT sales on Optimism are at a price below 0.01 ETH. Few of them are higher to 0.5 ETH. In fact, if we take a look at the percentages, 73% of the sales are below 0.01 ETH, and 20% between 0.01 and 0.05 ETH.
• Currently, a total of 153k NFT sales were done on Optimism. Among these sales, 39.6k of them were above 0.01 ETH representing almost 26% of them, 6.2k were above .1 ETH, representing around 4.2% of the total sales, while only 905 sales were above 1ETH, being no more than 0.5% of the total sales.
• The amount of the NFT sales has increased over the past months on Optimism.
• The percentage of sales above .01 ETH dramatically decreased since the inception, passing from more than 95% to below 30%. The other percentages seems to be decreased as well.
• The low floor price seems to be more unstable on Optimism while it seems that the high floor price limit is more consistent on Optimism rather than on Ethereum.

Optimism’s distribution of sales by price

Optimism vs Ethereum comparison