OpenSea.. Eth and Matic

in hive-160196 •  last month 

To learn more about NFT.. I decided to first navigate OpenSea among many different market/platforms. I was interested most in 'Collectibles' such as CryptoPunk, BAYC so I filtered for the collectibles and went through the 'Marketplace'

There were 13,027,615 results and growing when I pulled the list. Three blockchains are supported by OpenSea, Ethereum, Polygon and Klaytn, and I checked only the first two by filtering the 'Chains'. The results returned as below:

Ethereum: 10,357,678
Polygon: 3,593,527

As expected Ethereum has a lot of listings but it is impressive for Polygon to this many listings considering that OpenSea started supporting Polygon only recently.

I checked some of the recently sold items and interestingly for Polygon blockchain there were items that's sold in very very low price such as 0.0000000000001 ETH . I guess this was possible since there is no(or very minimal) transaction(gas) cost on Polygon. Whereas in case of Ethereum 0.01 ETH was the lowest price of the couple recent sales I checked.

Some of already well-known collectibles like CryptoPunk, Bored Ape Yacht Club, Meebits are on Ethereum. Collectibles on Polygon were not familiar to me yet.

Considering the difference in market cap size between ETH and MATIC(about $419B vs $9B, at the moment) it seems Ethereum will keep hosting the high priced premium collectibles since that's where the money is at. Still, with no or minimal gas fee, Polygon may play an important role in a different target segments of the NFT collectible market.

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