Avalanche (AVAX) is a cryptocurrency that has been gaining popularity in the decentralized finance (DeFi) space. One of the areas where AVAX is being used extensively is in the creation and trading of non-fungible tokens (NFTs). In this article, we will take a look at some of the stats and facts related to AVAX NFTs.
AVAX is a popular blockchain for NFTs:
The AVAX blockchain has become a popular choice for NFT creators and traders due to its fast transaction speeds, low fees, and interoperability with other blockchains. AVAX’s consensus mechanism, called Avalanche-X, enables the network to process up to 4,500 transactions per second (TPS), which is much higher than other popular blockchains like Ethereum, which can process only 15-45 TPS.
AVAX NFT marketplaces:
Several NFT marketplaces have been launched on the AVAX blockchain in recent months. Some of the popular ones include OpenSea, Nifty Gateway, and SuperFarm. These marketplaces allow creators to mint, sell, and trade their NFTs with ease, while also providing buyers with a wide range of options to choose from.
AVAX NFT sales:
According to data from DappRadar, AVAX NFT sales volume has been steadily increasing in recent months. In January 2022, AVAX NFT sales volume was around $4 million, which increased to $19 million in February and $30 million in March. This indicates a growing interest in AVAX NFTs among collectors and investors.
AVAX NFTs on OpenSea:
OpenSea, which is one of the largest NFT marketplaces in the world, has seen a significant increase in the number of AVAX-based NFTs being sold on its platform. In February 2022, the total sales volume of AVAX NFTs on OpenSea was around $2.3 million, which increased to $15.6 million in March. This represents a growth of over 580% in just one month.
AVAX NFTs on Nifty Gateway:
Nifty Gateway, which is another popular NFT marketplace, has also seen a surge in AVAX NFT sales. In March 2022, Nifty Gateway reported that AVAX-based NFT sales had surpassed $4 million, accounting for over 12% of the platform’s total sales volume. This is a significant achievement considering that AVAX was only add to the platform in December 2021.
AVAX NFT projects:
Several NFT projects have been launche on the AVAX blockchain in recent months. Some of the popular ones include XRUNE, which is a collection of 10,000 randomly generate NFTs that represent different runes. And Kingdoms Beyond, which is a strategy game that allows players to collect and trade NFTs. These projects have seen a lot of interest from the AVAX community, with XRUNE selling out within minutes of launch.
AVAX NFT partnerships:
AVAX has partnered with several NFT projects and platforms to expand its NFT ecosystem. For instance, in December 2021. AVAX partnered with Nifty Gateway to enable creators to mint and sell their NFTs on the AVAX blockchain. Similarly, in February 2022, AVAX partnered with Art Blocks. Which is a platform for generative art, to launch its first AVAX-based project.
AVAX NFT fees:
One of the advantages of using the AVAX blockchain for NFTs is the low transaction fees. While other blockchains like Ethereum charge high gas fees for NFT transactions, AVAX’s fees are significantly lower.