Methodology

This dashboard shows how much fees Opensea has generated on polygons, how the fee volume is changing over time, and what projects are contributing the most to Opensea Ploygon fees.

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What is Opensea?

OpenSea is an American online non-fungible token marketplace headquartered in New York City. The company was founded by Devin Finzer and Alex Atallah in 2017.

What is Polygon?

Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network's native cryptocurrency, which is used for fees, staking, and more.

Observations

Since the beginning of June both the number of sales on polygon and fees collected have been declining. Most days nearly all of the fees paid to oppensea on polygon are played in WETH and a small amount of fees are paid in MATIC, USDC, and DAI. In the past 6 weeks there have been over 50,000 addresses buying NFTs on polygon with an average sales fee of $4.07.

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Conclusion

The top 2 NFT projects on Polygon make up 75% of the Opensea fee volume in the past 6 weeks; these two projects have both made over $10,000 in sales fees in the past 6 weeks. In terms of number of sales the top 20 projects by fee volume have between 30 and 3600 sales with most projects havin under 250 sales in the past 6 weeks. Since the beginning of June both the number of sales on polygon and fees collected have been declining. Most days nearly all of the fees paid to oppensea on polygon are played in WETH and a small amount of fees are paid in MATIC, USDC, and DAI. In the past 6 weeks there have been over 50,000 addresses buying NFTs on polygon with an average sales fee of $4.07. Overall OpenSea has been very popular amongst polygon users and has generated $10K - $20K fees daily.