NFT gas usage shows downward trend, signals shift in landscape

Today, gas consumption by NFTs continues its decrease. While markets are no place to be seen in terms of gas consumption, NFT marketplace Blur still sits around Etherscans top 30 area for gas customers at the time of composing.

NFT marketplaces and projects that occupied leading spots in gas usage at the time have actually decreased greatly in the past two years.Data shared by the on-chain analytics platform Glassnode reveals that gas use by NFT markets is presently on a down pattern. On the exact same day, NFT market OpenSea was in fourth spot on the list.Related: Ethereum gas costs cool down after May memecoin frenzyHowever, jumping forward to 2023, crypto analytics platform Nansen revealed that NFT marketplaces just accounted for simply over 3% of the entire gas consumption in a weekly duration in May. While marketplaces are nowhere to be seen in terms of gas usage, NFT marketplace Blur still sits around Etherscans top 30 area for gas customers at the time of composing.

NFT markets and tasks that inhabited top spots in gas intake at the time have decreased greatly in the past two years.Data shared by the on-chain analytics platform Glassnode reveals that gas usage by NFT marketplaces is currently on a down trend. On Aug. 4, 2021, NFT video gaming job Axie Infinity put 2nd in terms of gas use due to its Ronin bridge, which moves possessions from Ethereum to the Ronin blockchain. On the exact same day, NFT market OpenSea was in fourth area on the list.Related: Ethereum gas fees cool down after May memecoin frenzyHowever, leaping forward to 2023, crypto analytics platform Nansen revealed that NFT markets just accounted for simply over 3% of the entire gas usage in a weekly duration in May.