Summary: If you are looking to get involved in the world of NFTs, then you'll want to check out some of the best marketplaces that are built on Optimism. The OP network is one of the fastest growing Layer 2's on the Ethereum blockchain with over $900 million in value locked on the platform.
Here are the best NFT marketplaces that are deployed on Optimism:
- Highest volume in NFT trading on the Optimism Layer 2 network.
- Home to popular collections on Optimism like Motorheadz and Apetimism.
- Backed by the official Optimism foundation.
Top NFT Marketplace on Optimism
In our endeavor to identify the leading NFT marketplace platforms using Optimism, we have meticulously evaluated over 15 distinctive NFT marketplace projects that are currently operational on the Optimism layer-2 solution. Crucial aspects such as marketplace security & decentralization, variety of NFT categories, user experience, scalability, transaction speed, and more, were rigorously considered. After this comprehensive analysis, we have compiled a list of the top five NFT marketplace platforms on Optimism that are notably shaping both the NFT and Optimism landscapes.
1. Quix NFT Marketplace
Quix is the largest and most popular NFT Marketplace on the Optimism layer 2 network. It trades the most 24-hour volume at $1,000,000 USD in NFTs through popular collections like OptiPunks, Motorheadz, Bored Town and more. This marketplace also allows you to sell your UniV3 liquidity positions.
2. OpenSea - Optimism
OpenSea is the world's largest NFT marketplace with billions of dollars traded since their inception in late 2020. OpenSea is deployed on the Optimism network, as well as Ethereum, Solana and other platforms - making it a multi-chain NFT Marketplace. It is a good alternative to Quix, but isn't as popular for Optimism artists, creators and collectors.
3. Backed NFT Lending
Backed is an NFT lending platform that allows you to leverage your digital art and collectables as collateral for cash loans. The loans are denominated in USDC and the interest rates start at 4% APR. Backed is deployed on the Optimism network, as well as the Ethereum mainnet.
4. Optimarket.io
Optimarket is a new NFT marketplace that is built specifically for trading digital art and collectables on the OptimismTC layer. It has a simple and user-friendly interface that makes it easy to buy and sell NFTs.
5. Tofunft
Tofunft is another new NFT marketplace that is built on the Optimism network. It focuses on trading digital art, collectables, and gaming assets.
Why are NFTs popular on Optimism?
Non-fungible tokens (NFTs) are increasingly popular on Optimism, a Layer 2 scaling solution for Ethereum, for various compelling reasons. Primarily, Optimism employs Optimistic Rollups, improving NFT trading efficiency by ensuring faster transaction throughput. This benefit translates into reduced wait times for NFT trade confirmations, thereby offering a more dynamic and user-friendly marketplace experience.
Additionally, Optimism substantially reduces the high transaction costs or 'gas fees,' prevalent on Ethereum's network. By processing transactions off the mainnet, it offers lower gas fees, making it appealing for small and large-scale traders alike. This combination of increased speed and decreased cost makes Optimism an increasingly preferred choice for digital asset trading.
About Optimism
Optimism is a Layer 2 scaling solution for the Ethereum blockchain that uses Optimistic Virtual Machine (OVM) to facilitate cheap and fast transactions. It is one of the most popular L2 solutions with over $900 million in value locked on the platform. The ethos of the L2 is to uphold the values of Ethereum by creating an ecosystem that promotes the sustainable growth of networks through public goods funding.
Final Thoughts
In conclusion, as NFTs continue to surge in popularity, the need for efficient, cost-effective trading platforms has never been greater. Our extensive evaluation has highlighted the top five NFT marketplaces on Optimism: Quix, OpenSea - Optimism, Backed NFT Lending, Optimarket.io, and Tofunft. These platforms not only address the growing demand for NFT trading but also contribute significantly to shaping the NFT and Optimism landscapes.
Leveraging Optimism's Layer 2 scaling solution, these marketplaces offer a seamless trading experience by ensuring quicker transactions and lower gas fees. This creates an inclusive environment for all types of traders, positioning Optimism as an increasingly preferred choice for digital asset trading. In the dynamic and evolving world of NFTs, Optimism continues to uphold the values of Ethereum, fostering sustainable network growth through its emphasis on public goods funding.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
