Currently, the largest NFT marketplace is offering art on seven blockchains, including Avalanche’s “Smol” blockchain. OpenSea announced Tuesday that it has added NFTs from Avalanche to its online marketplace.
The marketplace, which saw approximately $350 million in Ethereum NFT volume trade last month, now supports NFTs from seven blockchains: Ethereum (Polygon), Klaytn and Solana; Optimism. Arbitrum is also supported.
Avalanche, an open-source network that uses the native token AVAX as well as three blockchains, is known by the . The C-Chain has been optimized for Ethereum compatibility, smart contracts, and NFTs (NFTs may exist on Avalanche’s C-Chain and X-Chain).
OpenSea’s announcement was good news for Avalanche NFT enthusiasts, but it remains to be determined if the increased visibility will boost the blockchain’s NFT economics. Avalanche supporters might refer to it as an ” Ethereum Killer”, but it is not a significant improvement when it comes to NFTs.
According to CryptoSlam data Avalanche had $2.4 million in NFT volume traded in September, with approximately 25,000 transactions and only 4,488 buyers.
This is because Solana, which was launched at the same time that Avalanche, saw nearly $130,000,000 in NFT volume trades last month. It had nearly 3,000,000 transactions and 143,000 buyers. This means that Solana processed 193% more NFT-related money than Avalanche in September, and has 187% more users trading NFTs.
Despite being small in the NFT industry, Avalanche seems to be taking advantage of that fact. OpenSea’s rankings show that Avalanche has two top NFT collections, the “Smol Joes”, and “Smol Lands. The “Smol Creeps,” and “Smol Apas,” also make it to the top ten.
Let’s not forget the “Smol Turds”, who were inspired by the poop-themed Ethereum NFT trends this summer of deliberately crude and gross art.
The slogan “Turdis love” was minted back in July. There’s nothing like a smol turd, but the minimum “Smol Turds’ purchase price has soared to 996% in 24 hours. A Smol Turd NFT costs around 200 AVAX (roughly $3,200) at the time of writing.
Avalanche NFT also saw a boost this year, thanks to the Crabada and Yield Hunt Hunters games, which brought in $227 million each and $81 million, respectively.
Although meme-based NFTs dominate the landscape, Ava Labs Business Development Lead Dominic Carbonaro believes that Avalanche’s NFT creators have just begun.
Carbonaro stated in a statement that “Avalanche’s NFT community has an unique identity and passion to experiment with both the art of NFTs and their applications.” “Creators are just scratching the surface.
OpenSea may not be the first NFT marketplace that offers Avalanche NFTs. However, OpenSea’s Avalanche competitors aren’t seeing any significant numbers. Five marketplaces are used to distribute the Avalanche NFT market. The largest is for the Chikn NFTs, which includes a group of chickens smoking pipes, holding guns and wearing Ethereum bling.
Dune data shows that each of the competing NFT marketplaces NFTrade Kalao, Campfire and JoePegs only sees a few hundred daily users who transact on Avalanche.
OpenSea may send Avalanche NFTs from the big leagues to OpenSea, or perhaps not.