An In-Depth Look At The Major Avalanche NFT Marketplaces

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The purpose of this article is to demonstrate the NFT Marketplaces of Avalanche by Flipside Crypto. Introducing the Avalanche by exploring various charts and providing a good explanation of what it is and how it works if you are new to it. The Avalanche’s blockchain is also displayed here so that we can understand how the blockchain works, its benefits, and different major NFT marketplaces in this blockchain , the approach, and the insights.


Our goal in this dashboard was to understand how the blockchain works by analyzing the Avalanche NFT Marketplaces. As part of that process, we are taking few key metrics from major Avalanche NFT marketplaces (for example, Camfire, Chikn, JoePegs, Kalao, NFTKey, NFTrade and OpenSea). Listed below are all metrics taken on a weekly basis. NFT Price and volume are expressed as AVAX.

  • Trades – NFT Marketplaces
  • Volume(AVAX) – NFT Marketplaces
  • Unique Buyers – NFT Marketplaces
  • Maximum and Average Prices – NFT Marketplaces

Avalanche: What Does It Mean And How it Works ?

Ava Labs launched the blockchain platform Avalanche in 2020. It is capable of executing smart contracts. In addition to maintaining decentralization and security, Avalanche focuses on rapidly transferring funds, lowering costs, and being environmentally friendly. Users can customize and interoperate an unlimited number of blockchains using Avalanche. There is a subscription fee for operating a blockchain on AVAX, the Avalanche coin.

To avoid not having Avalanche follows a unique approach to scalability and usability by using three separate blockchains internally, resulting in solve problems with interoperability. They are as follows ,
X-Chain: An asset management blockchain. In order to achieve consensus, it uses the Avalanche protocol.
C-Chain: The C-Chain is used to create smart contracts. Consensus protocol Snowman is used.
P-Chain: This blockchain coordinates validators. Furthermore, it uses Snowman’s consensus protocol.

There are two blockchains (P-Chain and C-Chain) that leverage “Snowman” consensus, enabling high-throughput secure smart contracts, and the X-Chain uses the “Avalanche” consensus, which is secure and scalable.

What is its role in cryptocurrency? Why Does It Need to Be Introduced?

As well as serving as a staking tool for AVAX, it also provides network security. As a reward, stakers receive more AVAX. It is common for users of AVAX to stake the network in order to earn passive income. As a utility token, AVAX is native. In the AVAX network, the AVAX Token is used for a wide variety of purposes, including transaction fees, incentive programs, and many more. 

Today, Ethereum apps typically use layer-2 scaling solutions to improve transaction speed and address scalability  issues. Layer 2 separates transactions from the main chain. As a result, the transaction is then packaged in neat “bundles” and is then sent back to the Ethereum chain, relieving Ethereum of some of its burden. Although it works effectively in many cases, it can also complicate security in some cases. As a result, avalanche has been designed to solve these problems and maintain scalability, transaction speed, and security in a single layer.

What are the benefits of using Avalanche ?

Avalanche addresses two major issues:

Traffic congestion: Scalability was a deliberate design goal of Avalanche. Avalanche is as fast as PayPal and VISA when it comes to processing transactions. In addition to its tremendous power and efficiency, Avalanche is extremely fast, able to process up to 6,500 transactions per second with a time resolution of less than a minute. As compared to Ethereum’s limitations, this is a huge improvement.

Low fees : Although many consider Avalanche to be a competitor of Ethereum, it also has a lower gas fee than Ethereum. There is a large difference between the cost of Avalanche and Ethereum.

Comparing it to other blockchains, how popular is it?

In order to overcome many of the problems faced by most blockchain networks, Avalanche was built. Avalanche, a platform similar to Ethereum, works to combat centralization in the crypto space by offering an alternative. * As compared to other Blockchains, the Avalanche Blockchain has the following advantages. 
Compatibility: Data and coins are exchanged between two platforms through interoperability. The Avalanche blockchain provides interoperability with other blockchains, allowing users to trade coins with other platforms.
Adaptability: It takes an enormous amount of energy and computing power to mine Bitcoin (BTC), for example. There is a limit of 15 transactions per second for Ethereum. These blockchains are powerful and highly valuable, but they are not scalable. Meanwhile, Avalanche’s processing capacity is incredible and its transaction times are sub-second.  
Convenience: Avalanche is becoming more popular in the cryptocurrency community faster than Ethereum. It become very popular with many users by its ease of implementing and using any technology, regardless of its application.

Here from the below tweet we can see different Defi applications which are built on the Avalanche Blockchain .

Avalanche: Major NFT Marketplaces

NFT marketplaces offered by Avalanche are a great option for users who wish to buy, sell, or trade NFTs. It is easy and affordable to use these marketplaces, which offer a user-friendly interface, a wide selection of NFTs, and affordable fees.

  • Joepegs NFT (Trader Joe NFT Marketplace) : There are the most users on Trader Joe’s DeFi and NFT applications on the AVAX Network. Joepegs, Avalanche’s NFT platform, was launched in early 2022 and quickly became the company’s most popular marketplace. With a wide variety of AVAX NFTs, including Smol Joes, Smol Land, Satoverse, Avax Party Animals, Hoppers Game, Particle (Banksy), and more, it is one of the most popular places to get Avax NFTs.
  • Kalao : This NFT marketplace is just for Avalanche (AVAX) and hosts top-tier collections like AVAX Warriors, Firats, and AvaxApes. On the NFT Marketplace, Kalao (KLO) is a native token that allows users to share revenue. In Kalao’s application, staking interest is currently more than 70%. As a result, Kalao is a great place to invest in AVAX NFTs and stake for rewards.
  • NFTrade : Featuring native Avalanche NFT support, NFTrade provides a multi-chain NFT marketplace. Avalanche, Harmony, Solana and Avalanche are popular collections with their platform. In addition, AVAX releases new NFT drops through the NFT Launchpad.
  • Chikn : It is a non-fungible token collection based on NFTs (Non-fungible Tokens). On the blockchain, there is a collection of digital artwork.
  • OpenSea : OpenSea, the world’s leading peer-to-peer marketplace for NFTs, has launched natively on Avalanche to provide producers, collectors, and collaborators with the best selection of NFTs.

Trades – NFT Marketplaces

Graphs below show the weekly number of trades that were made on various NFT marketplaces in Avalanche Blockchian. In terms of trades, the lowest number is 26.01 (NFTKey) and the highest number is 18.95K (Chikn). The maximum number of trades was 4.69K in W18, 2022, while the minimum number of trades was 191.6 in W50, 2021. Trends show that trades are increasing. From May 2022 onwards on Chikn NFT marketplace we can see a huge number of trades .

If we look at the percentage of number of trades on different marketplaces , initially we can see there are only Kalao, NFTKey and NFtrade trades . But from April 2nd week 2022 onwards we can see almost more than 85% of traded are from Chikn marketplace. And also in this marketplace we can see an increasing trend of trades .

The following graph shows NFT marketplaces in the Avalanche blockchain and their percentage of trades over time. Eighty-two percent of total trades were conducted on Chikn Markets. In terms of total trades, OpenSea has the lowest total trades and Chikn has the highest total trades. Second place goes to Kalao marketplace after Chikn marketplace in terms of trades.

In comparison with the previous week, the total number of trades on different marketplaces suddenly peaked on May 2022 when we look at the week over week growth. It is specifically made by Chikn.

Volume(AVAX) – NFT Marketplaces

In this section, we can see the weekly volume of various NFT marketplaces. The lowest average volume is 4.07 (NFTKey), and the highest average volume is 1,575.66 (NFTrade). The maximum volume of 3,683.57 was observed in W1, 2022, and the minimum volume of 90.11 was observed in W50, 2021.Initially, the volume (AVAX) is high on NFTrade marketplace. Later, the volume is reduced.

According to the below graph, the percentage of NFTtrade volume has drastically decreased from the beginning to the end of our analysis. There is an increasing trend in the Kalao volume.

When we look at the volume of all NFT marketplaces, NFTrade contributes half the volume. Among all the NFT marketplaces here, Kalao has the second highest volume after NFTrade.

In the graph below, we can see how the volume on different NFT marketplaces on Avalanche blockchain has grown week over week. When we compare Oct 9-15 2022 week with previous week, we can see that Opensea marketplace volume has increased by a huge percentage suddenly.

Unique Buyers – NFT Marketplaces

We can see in this section how many unique buyers have been registered on Avalanche blockchain each week on the different NFT marketplaces. The lowest number of buyers is from NFTKey, and the highest number is from JoePegs. The average number of buyers in W1, 2022 and W15, 2022 is higher than usual.

We can see from the below graph that buyer numbers on Kalao, Chikn, Campfire, and NFTrade NFT marketplaces are declining. There is an increasing trend in unique buyers on JoePegs.

JoePegs NFT marketplace’s unique buyers suddenly increased in May 2022 when compared to its previous week, as illustrated in the graph below. Additionally, the number of buyers on Opensea marketplace increased suddenly from last week to this week on October (9-15) 2022.

Maximum and Average Prices Of NFT – NFT Marketplaces

Here is a graph showing the average price of NFTs on different marketplaces. We can see that the average NFT price of NFTrade is more initially, but later we can see it is decreasing. Also, we can see a sudden increase in the average NFT price of Kalao NFT marketplace from Nov 1st week 2022 onwards. In terms of average NFT price, the lowest is 0.11 (Chikn) and the highest is 2.41 (NFTrade). There was a maximum average NFT price of 3.12 observed in W47, 2022, and a minimum average NFT price of 0.26 observed in W51, 2021.

The graph below shows the maximum price of NFTs on different marketplaces. In NFTrade and Kalao, we can see that the maximum price initially is higher, but later on, it decreases. JoePegs, Chikn, and OpenSea NFT marketplaces all experienced sudden increases in their maximum NFT pricing in early September 2022. NFTKey has the lowest Max NFT Price of 1.53, while JoePegs has the highest Max NFT Price of 77.37. The highest NFT prices were observed in W5, 2022, and the lowest NFT prices were observed in W50, 2021. Prices of NFT are lower than normal in W38, 2022 and W9, 2022


From the above analysis,

  • NFT marketplaces in the Avalanche blockchain are shown in the following graph, along with the percentage of trades they have made over time. It is estimated that Chikn Markets accounted for 82 percent of total trades. Total trades of OpenSea are the lowest, while those of Chikn are the highest. In terms of trades, Kalao marketplace takes second place behind Chikn marketplace.
  • Compared to the previous week, the total number of trades on different marketplaces suddenly peaked on May 2022. It is specifically made by Chikn.
  • Compared to the beginning of our analysis, the percentage of NFTtrade volume has drastically decreased over time. As the Kalao volume increases, there is an upward trend.
  • Based on all NFT marketplaces combined, NFTrade contributes half the volume. The second most popular NFT marketplace in this list is Kalao, followed by NFTrade.
  • As we compare the Oct 9-15 2022 week to the previous week, Opensea’s market volume has increased by a huge percentage.
  • Based on the above analysis, we can see that Kalao, Chikn, Campfire, and NFTrade NFT marketplaces are experiencing declining buyer numbers. JoePegs has an increasing trend in unique buyers. Also, we can see that NFTKey has the lowest number of buyers, and JoePegs has the highest number.
  • As a result of the above analysis, JoePegs NFT marketplace’s unique buyers suddenly increased in May 2022. Moreover, there has been an increase in buyers on Opensea marketplace from last week to this week (9-15 October 2022).
  • Based on the above analysis, we can see that the average NFT price of NFTrade was initially higher, but later decreased. From Nov 1st week 2022 onwards, we can also see a sudden increase in the average NFT price on Kalao NFT marketplace. 
  • Based on average NFT price, Chikn is the lowest at 0.11 and NFTTrade is the highest at 2.41.
  • The maximum price initially appears to be higher in NFTrade and Kalao, but it decreases later on. NFT marketplaces JoePegs, Chikn, and OpenSea all experienced sudden increases in maximum NFT pricing in early September 2022. 
  • As of today, NFTKey has the lowest Max NFT Price (1.53), while JoePegs has the highest Max NFT Price (77.37).

Reference Query

WITH marketplaces as (
	SELECT lower('0xc28f1550160478a7fb3b085f25d4b179e08e649a') as contract, 'NFTrade' as market
  	SELECT lower('0xbf6bfe5d6b86308cf3b7f147dd03ef11f80bfde3') as contract, 'NFTrade' as market
    SELECT lower('0x11ac3118309a7215c6d87c7c396e2df333ae3a9c'), 'Kalao'
    SELECT lower('0xeff2357c9e40103ac4d268b32de478e4fbbfc4f0'), 'Kalao'
    SELECT lower('0xcf91b99548b1c17dd1095c0680e20de380635e20'), 'Chikn'
    SELECT lower('0xae079eda901f7727d0715aff8f82ba8295719977'), 'JoePegs'
    SELECT lower('0xbcb09cdb2011fea0591b52e52085bb102e4a082a'), 'Campfire'
    SELECT lower('0x00000000006c3852cbEf3e08E8dF289169EdE581'), 'OpenSea'
	SELECT lower('0x1A7d6ed890b6C284271AD27E7AbE8Fb5211D0739'), 'NFTKey'

nft_txns as (
  		block_timestamp::date as date, 
  		avax_value as amount,
  		from_address as wallet,
	FROM avalanche.core.fact_traces
  	INNER JOIN marketplaces ON to_address = contract 
  	 	and date >= CURRENT_DATE - 360
	count(tx_hash) as trades,
	sum(amount) as volume,
	count(distinct wallet) as wallets,
  	min(amount) as nft_floor_price,
  	avg(amount) as avg_nft_price,
  	max(amount) as max_nft_price
FROM nft_txns 
GROUP BY date, market