OpenSea Adds Avalanche NFT Support
OpenSea Adds Avalanche NFT Support
The largest NFT marketplace now offers art on seven blockchains, including the “smol” world of Avalanche.
OpenSea has added NFTs from the Avalanche blockchain to its online marketplace, the company announced Tuesday.
The marketplace—which saw roughly $350 million in Ethereum NFT volume traded last month—now supports NFTs from seven different blockchains: Ethereum, Polygon, Klaytn, Solana, Optimism, Arbitrum, and now Avalanche.
Avalanche is an open-source network with the native token AVAX and three different blockchains, one of which is called the C-Chain. The C-Chain is optimized for Ethereum compatibility and smart contracts, which NFTs use (NFTs can exist on Avalanche’s C-Chain or X-Chain).
While OpenSea’s announcement is good news for Avalanche NFT fans, it remains to be seen whether the increased visibility will bolster the blockchain’s NFT economy. Some Avalanche proponents might call it an “Ethereum killer,” but when it comes to NFTs, Avalanche has barely made a dent.
According to CryptoSlam data, Avalanche saw $2.4 million in total NFT volume traded in September across roughly 25,000 transactions and just 4,488 buyers.
To put that in perspective, Solana—which launched around the same time as Avalanche—saw nearly $130 million in total NFT volume traded last month across nearly 3 million transactions and 143,000 buyers. That means Solana processed about 193% more NFT-related funds than Avalanche in September and boasts 187% more users trading NFTs.
While OpenSea is not the first NFT marketplace to offer Avalanche NFTs, OpenSea’s Avalanche-supporting competitors aren’t exactly seeing numbers. The Avalanche NFT economy is spread out across five marketplaces, the largest of which is dedicated to the Chikn NFTs—a collection of chickens holding guns, smoking pipes, or wearing Ethereum bling.
According to Dune data, competing NFT marketplaces NFTrade, Kalao, Campfire, and JoePegs are each seeing just a couple hundred unique daily users transacting on Avalanche.