Since its launch, Arbitrum has witnessed a significant amount of NFT activity on its platform. Additionally, the recent introduction of an NFT AIP could further enhance NFT activities on the network.
Development Proposal for Arbitrum!
According to a report by Messari, Rarible recently submitted an Arbitrum Improvement Proposal (AIP) advocating for integration. The proposal, put forth by the Rari Foundation, aims to catalyze the growth of the Arbitrum NFT ecosystem by merging it with the open-source Rarible protocol.
This integration would allow developers to rapidly create NFT-based applications on Arbitrum by leveraging Rarible’s user-friendly SDK, indexer, and order book. The Rari Foundation highlighted that Arbitrum lags behind Optimism in terms of NFT asset and contract creation capabilities. As of the writing of this article, the proposal is generating positive responses, indicating that it is likely to receive support. A comparison of NFT volumes between Arbitrum and Optimism, based on data from NFT Scan, revealed that Arbitrum still has a significant distance to cover. Additionally, Arbitrum has hosted over 16,000 new additions in the past 24 hours, bringing its total NFT assets to over 15.6 million.
Arbitrum vs Optimism Comparison!
Meanwhile, Optimism has a larger volume with over 27.3 million NFT assets, surpassing 131,000 new additions in the past 24 hours. Regarding NFT contract deployments, Optimism leads with over 52,500 contracts compared to Arbitrum’s 18,500 contracts. Furthermore, Optimism has over 4 million wallet addresses, while Arbitrum has over 2.5 million wallet addresses.
An analysis of NFT trading activity on Santiment indicates a recent period of low trading activity on the platform. The graph showed a period of high activity in previous months, but a decline became apparent after July 5th. At the specified date, the trading volume exceeded $3.4 million. However, as of now, the trading volume has significantly dropped to around $4,700. Another noteworthy observation from the Total Value Locked (TVL) graph on DefiLlama is a slight decrease. As of the writing of this article, the TVL has fallen below the $2 billion range and is now approximately $1.98 billion.
