Onboard Avalanche (AVAX) Blockchain by DailyCoin

Non-fungible token (NFT) marketplace OpenSea announced that the (AVAX) blockchain is already live on their platform.

OpenSea onboard its seventh blockchain

GM! We’re excited to share that @avalancheavax #Avalanche is officially live on OpenSea!! pic.twitter.com/3nDP3zQGAx

— OpenSea (@opensea) October 11, 2022

Avalanche (AVAX) is the seventh blockchain to be included in the world’s largest NFT marketplace. AVAX is an open source network with three distinct blockchains, one known as the C chain. The network also has the original token AVAX.

According to statistics from CryptoSlam, Avalanche ranks as the 7th largest in terms of sales of all time, reaching $404 million in total. The network ranks 9th in terms of 24-hour NFT trading volume.

Listing of avalanche-based NFT collections

About 10 of the network’s native NFT projects have been initially posted on OpenSea, with more on the way, the Avalanche team said in an Oct. 12 blog post.

“On Avalanche, OpenSea users will benefit from the fastest time to finality for NFT trades – regular settlement of transactions in under a second – and consistently low transaction fees as a result of Avalanche’s horizontal scaling success with Subnets,” the company writes. According to OpenSea’s rankings, Avalanche’s top two NFT collections are “Smol Joes” and “Smol Lands”. “Smol Apas” and “Smol Creeps” are also included in the top 10 list.

Avalanche NFT projects can gain much needed exposure due to the integration with OpenSea since not a single project from the network has placed in the top 100 NFT projects in terms of sales volume in the last 24 hours, 7 days, 30 days or overall.

OpenSea has recently brought new blockchains to their platform. Avalanche joins six other networks currently supported in the market⁠—, , Polygon, Klaytn, Arbitrum, and Optimism.

On the other side

• Monthly trading volume on OpenSea fell to $242 million, a significant decrease from the record $4.8 billion traded in January 2022. Similar declines in activity have been observed on a number of other marketplaces, including Magic Eden, LooksRare, Rarible and SuperRare .
• The Avalanche NFT economy is small. In September, there were about 25,000 sales on the network totaling $2.4 million, with only 4,488 buyers.
• There are mainly five different marketplaces where the Avalanche NFTs are supported. In accordance Dune statistics, only a few hundred unique users each day trade on rival NFT marketplaces, such as Kalao, JoePegs, NFTrade and Campfire.

Why should you care?

Avalanche (AVAX) competes with Ethereum and is known for its speed and scalability. Avalanche’s smart contract platform supports both decentralized applications and autonomous blockchains. OpenSea is the world’s largest marketplace. Recently, the platform has adopted new blockchains to bring in their communities.

Read more about OpenSea onboarding Optimism:

OpenSea introduces the Optimism (OP) Blockchain

Read more about OpenSea introducing Arbitrum:

OpenSea launches support for Ethereum L2 Arbitrum

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