What is Exchange Art ?

Exchange Art is a Solana NFT Marketplace that was launched on October 2021 and focused on 1/1 art and independent creators. the company was bootstrapped by its founders for the first months while growing exponentially the 1/1 art market on Solana. With the Exchange Notification NFT, every transaction you make increases your status and earns you perks. Bid on almost any NFT you find on Exchange, listed or unlisted. Make a reasonable offer and the owner will receive an alert right in their wallet.

Exchange.Art was originally built for artists facing the lack of royalties in the fine art world. Creators can choose which secondary marketplaces their NFTs can be listed on through Exchange.Art’s “allow list”. This allows creators to earn royalties perpetually as their NFTs change hands.

Exchange.Art has its very own “Royalties Protection Standard” amid the ongoing debate surrounding zero or optional royalties that some marketplaces and NFT projects like DeGods have adopted. This project created its own Royalties Protection Standard to ensure creators receive royalties on secondary sales of NFTs originally minted on the marketplace.

A 1-of-1 NFT (also known as a 1/1 NFT, one-of-one, or OOO), only has one edition of the artwork and was not generated in bulk. Popular artists that sell one-of-a-kind NFTs that record high sales prices because of their limited quantity, unique artwork, and exclusivity.

According to these data, till today (analysis date = 21st January 2023), there are total 72.7k NFT sales transactions on Exchange Art made by 12.83k unique purchasers and 14.73k unique sellers. The total number of traded NFTs in this marketplace is 69k and the total generated volume from these trades is 246k $SOL.

The average volume of NFT sales in this marketplace is 3.39 and the median volume is just 0.5 $SOL.

The most expensive NFT sale on Exchange Art was done with $2500 SOL price.

So, we have seen there are more number of unique sellers on Exchange Art than unique purchasers.

Exchange Art Overall Stats

Based on the above and left data, in an average day, there are 1119 NFT sale transactions done in Exchange Art and 1102 NFTs are being traded by 394 average daily active buyers and 517 unique sellers.

The average daily generated $SOL volume from these sales is 3790.

Daily & Weekly Over-Time Stats

Based on the above charts, the number of NFT sales and also active traders on Exchange Art was increasing slightly since the beginning till December 2022 but after this month, we can see a massive decline in number of NFT sales and active traders on this exchange after huge high spikes of sales activity during late-November to early-December 2022. In terms of volume, we can see there is overall positive trend line for the volume of sales in Exchange Art and the average volume of NFT sales is also increasing more and more as time goes on especially with the highest average volume of sales during the recent weeks. So, the growth rate of Exchange Art is at a good satisfying situation in both terms of number and especially volume of sales. The highest number of new first-time exchange art purchasers have achieved during the first months of its release with the highest spike on Novemebr 2021. There was also high number of purchasers who have done their first-ever NFT purchaser in Solana ecosystem via Exchange Art marketplace on this month. Totally, the overall trend line for the number of new purchasers on Exchange Art is decreaasing especially during the recent weeks. In 3 scatter charts, we can see the weekly minimum (floor price), maximum (price ceiling) and median (tokens price) of Exchange Art NFT marketplace over time. We can clearly see that the floor price and also the price of tokens in this exchange is increasing more and more over time and has now reached its ATH during January 2023. But the highest volume of sales (maximum sale price) has achieved on September and October 2022. So, we can say that Exchange Art NFTs are growing in price over time and this can show the well and satisfying growth rate of this marketplace over time. We can also see the overall trend line of Sales' moving average in this marketplace is increasing more and more over time. We can not see a quite positive correlation between the number of total active buyers on Solana NFT ecosystem and number of active purchasers in Exchange Art. for example, during November 2022 there was a decline in number of active buyers in whole Solana NFT ecosystem but the highest spike of NFT buyers on Exchange Art has achieved on this month! or as another example during May 2022 the highest spike of active NFT buyers on Solana ecosystem has achieved while the number of active buyers on Exchange Art on this month was not so high. This non-positive correlation is also visible between number of traded NFTs on Exchange Art & traded NFTs in whole Solana ecosystem over time. But, the volume of sales on Exchange Art has almost a positive correlation vs total volume of NFT sales in Solana NFT ecosystem and we can see both of them are increasing in a good growth rate over time. In the last 2 scatter charts, we can see the correlation between number and volume of sales in Exchange Art vs whole Solana NFT ecosystem and as we see, the correlation of volume is way more than Number of NFT sales. In the

On the above charts, you can see the market share of all NFT marketplaces in Solana, including the Exchange Art.

As it was obvious, Magic Eden is by far the largest NFT marketplace in Solana ecosystem that have the highest dominance by far in both terms of number & volume of sales.

Exchange Art is on the rank #7 in terms of number of NFT sales and rank #8 in terms of volume of NFT sales among NFT marketplaces in Solana. The market share of Exchange Art NFT sales in all Solana NFT marketplaces is so low (less than 0.5%) in both terms of number and volume of sales.

We barely see any trace of Exchange Art in over-time normalized charts but the highest spike of NFT sales that have achieved during late-November is clearly visible that had 5% market share of NFT sales in Solana ecosystem during that time period.

According to the above charts, Thursdays are by far the most popular weekday for Exchange Art marketplace because the highest average number of sales, active traders, volume of sales and also number of traded NFTs have achieved on Thursdays.

Fridays are the second most popular weekday for Exchange Art NFT marketplace.

According to the above charts, Bangerz NFT collection is the most popular project on Exchange Art that have traded more than any other collection on this marketplace. In terms of volume, the collection “GM” has generated the highest sale volume in Exchange Art.

NFTs Analysis

According to the above data, an average purchaser in Exchange Art marketplace performs 5.67 trades (trades 5.66 tokens) and spent 19.21 $SOL for purchasing tokens.

Based on the pie-charts, the majority of Exchange Art Purchasers (54.1% of them) are one-time purchasers (traded 1 token) and the next rank belongs to the purchasers with 2-5 trades (32.8%). There are only 6.17% of purchasers with more than 10 trades on this platform.

Moreover, we can see that most number of Exchange Art purchasers have totally spent 1 - 10 $SOL for trading NFTs in this marketplace and the next rank belong to the users with total less than 1 $SOL spent money on these NFTs.

So, we can again see that Exchange Art is mainly popular for users who want to spend low money on cheap NFTs.

The wallet address ‘EgqxBkbNczXsgBmnkQ6VyKF6qRK446UGMgWhMed1L9c6’ has by far performed the most number of NFT purchase transactions (more than 25.6k purchase transactions!) with a huge big difference from other traders. This account seems not to be a regulra NFT trader because its total spent volume on NFTs is only 54 $SOL which is so low compared to the 25.6k transactions !

The wallet address 6JzXsCwJKiGH9o29HCveDyLD7TyioY3qAmTQthSdEvfP is on the second rank of most active NFT purchasers on Exchange Art that has made 277 purchases on this platform. the total spent volume by this wallet address on exchange art is 153 $SOL.

Moreover on the other hand, we can see that the wallet address 7FUjffHVu6aCR1cBnjauoEH6bvTKfUuizqvAXeUG8kHp have spent the most $SOL for purchasing NFTs in Exchange Art (2759.125 $SOL). The interesting thing is that there is not any trace of most active purchasers among the top 10 purchasers who have spent the most volume on Exchange Art.

According to the above data, an average seller in Exchange Art marketplace performs 4.94 trades (trades 4.93 tokens) and gained 16.74 $SOL from selling tokens. So, despite higher number of sellers than purchasers, Purchasers on Exchange Art are more active than sellers.

Based on the pie-charts, the majority of Exchange Art sellers (48.6% of them) are one-time sellers (traded 1 token) and the next rank belongs to the purchasers with 2-5 trades (33.2%). There are only 8.5% of sellers with more than 10 trades on this platform.

Moreover, we can see that most number of Exchange Art sellers have totally gained less than 1 $SOL from selling tokens while the second rank belong to the sellers with 1- 10 $SOL gained volume.

So, we can see that spent volume of purchasers for purchasing NFTs on Exchange Art is more than gained volume of sellers from selling NFTs on this marketplace.

The wallet address D2xSPAEyC7Gsuu5eRt9ZSGcTEmXLWqgNgS6FiY78pRag is the most active NFT seller on exchange art with 550 sales on this marketplace. On the other hand, the user address daaLrDfvcT4joui5axwR2gCkGAroruJFzyVsacU926g has gained the highest $SOL from selling NFTs on this marketplace (7576.11 $SOL).

So, the interesting thing is that the number of sale transactions by top Exchange Art sellers is more than number of purchase transactions by top Exchange Art Buyers.

Also, the gained volume of Top Solana Sellers from selling tokens on this platform is more than the spent volume of top purchasers on Exchange Art.

According to the above charts, the wallet address 8vizj4VUCM44RJgkPgzm6oG852KgVN5iFfYyFq9HBAFR has gained the most net profit (more than 5670 $SOL profit) from trading NFTs in Exchange Art ($SOL-Term).

In terms of $USD profit, the wallet address 7UeLNMaLmKNtNxUXAFCJPoaibXRV39qYHmmPDjrt8nt8 has gained the highest profit from trading NFTs on this marketplace (more than 316k $USD profit !)

Left and above charts, show the higher loyalty of Exchange Art purchasers to their purchased NFT compared to the other marketplaces (such as Magic Eden) NFT holders.

The average holding time of NFTs in other marketplaces and also Magic Eden is almost 18 days while we have seen that the average holding time of Exchange Art purchasers is 34 days.

Moreover, we can see higher share of purchasers with less than 1 day holding period in Magic Eden and other marketplaces than Exchange Art purchasers which again shows the higher loyalty of Exchange Art NFT holders.

According to the above charts, our weird top NFT purchaser (EgqxBkbNczXsgBmnkQ6VyKF6qRK446UGMgWhMed1L9c6) is currently holding the most number of NFTs purchased from Exchange Art.

If we exclude this wallet address from results, we can see that wallet address 6JzXsCwJKiGH9o29HCveDyLD7TyioY3qAmTQthSdEvfP is the top NFT collector on Exchange Art.

The very interesting thing that I have realized is the crossover of these top collectors with top active purchasers on Exchange Art. We can say that the majority of top NFT purchasers (with most number of purchases) on Exchange Art are Art Collectors because they have just bought and never sold any of their purchased token on this marketplace and tend to hold it.

On the right chart, we can see the list of top 10 total Solana ecosystem NFT holders that have also used Exchange Art at least once.

Based on the above charts, the share of Wash Trading in Exchange Art is too low and this is quite good news for this marketplace and its health. As we see, almost 96% of sales on Exchange Art are normal trading and there are only 4% of NFT trading activity on Exchange Art which are labeled as Wash Trade.

The interesting thing is almost steady trend line of wash trades on Exchange Art over time with a decline in the recent weeks that makes the situation of this Marketplace even better than before !

Summary and Conclusion

Based on the above analysis:

• till today (analysis date = 21st January 2023), there are total 72.7k NFT sales transactions on Exchange Art made by 12.83k unique purchasers and 14.73k unique sellers. The total number of traded NFTs in this marketplace is 69k and the total generated volume from these trades is 246k $SOL.
• The average volume of NFT sales in this marketplace is 3.39 and the median volume is just 0.5 $SOL.
• The most expensive NFT sale on Exchange Art was done with $2500 SOL price.
• The number of Sellers on Exchange Art are more than Buyers but the Buyers are more active than Sellers and also they have spent more volume on NFTs than the ganed volume by sellers from selling tokens.
• The average and median price of traded tokens in Exchange Art is on the 8th rank compared to the other NFT marketplaces in Solana and this shows Exchange Art is suitable for low-cost NFT sales and also users who can not afford buy more expensive NFTs.
• The majority of Exchange Art NFT sales are done with less than 0.1 $SOL which is way less than other marketplaces and this is another proof of low-cost NFT trades on Exchange Art compared to the other platforms.
• The overall trend line of number of sales and active traders and especially volume of sales on Exchange Art is positively increasing over time which is a good point and shows the positive growth of this NFT marketplace over time.
• The number of sales and active traders on Exchange Art have experienced their highest numbers in Late-November ~ Early December 2022 but these metrics have decelined significantly after 2022.
• The volume of sales and especially average volume of sales on Exchange Art is increasing over time and its good point for this marketplace.
• The highest number of new-first-time NFT purchasers on Exchange Art achieved during November 2021 and the number of new traders on this marketplace is decreasing over time.
• The average & median volume of sales (which can be tokens' price) on Exchange Art is increasing more and more over time which can not be good news for those users who can not afford buying more expensive tokens.
• There is a positive correlation between volume of NFT sales in Exchange Art vs general volume of sales in whole Solana Ecosystem (both increasing over time) but we have not seen a positive correlation in Number of sales.
• Market Share of Exchange Art among all other NFT marketplaces in Solana is less than 0.5% which is very low. The highest market share of this platform achieved during Late-November ~ Early December 2022.
• Thursdays are by far the most popular weekday in Exchange Art followed by Fridays.
• The interesting thing was that more than 35% of sales in Exchange Art were done with 0.00211584 $SOL price! The next ranks belong to sales with 1 or 0.5 $SOL which is another proof of low-cost NFT sales in this marketplace.
• Bangers project is the most-traded NFT collection on Exchange Art while the GM NFT collection have by far generated the highest volume in this platform.
• BOOGLE #100 is the most expensive sold token on Exchange Art (2500 $SOL) and totally, the whales activity on this collection is more than others.
• The majority of NFT traders (both buyers and sellers) in Exchange Art are one-time traders. However, we have seen that buyers are more active than Sellers (despite higher number of Sellers).
• the interesting thing is that the number of sale transactions by top Exchange Art sellers is more than number of purchase transactions by top Exchange Art Buyers. Also, the gained volume of Top Solana Sellers from selling tokens on this platform is more than the spent volume of top purchasers on Exchange Art.
• More than 50% of NFT traders in Exchange Art are in loss (their net gained/spent volume for trading NFTs is negative (<0)). But the average net gained/lost volume from Trading NFTs in this ecosystem is positive (>0) in both terms of $USD and $SOL.
• the wallet address 8vizj4VUCM44RJgkPgzm6oG852KgVN5iFfYyFq9HBAFR has gained the most net profit (more than 5670 $SOL profit) from trading NFTs in Exchange Art ($SOL-Term).
• In terms of $USD profit, the wallet address 7UeLNMaLmKNtNxUXAFCJPoaibXRV39qYHmmPDjrt8nt8 has gained the highest profit from trading NFTs on this marketplace (more than 316k $USD profit)
• The average holding time of NFTs in Exchange Art is 34.2 days which is almost 2x more than average holding time of NFTs in other Solana marketplaces (inclduing Magic Eden) which was 18 days. So, Exchange Art Purchasers are more loyal to their purchased NFTs.
• The majority of Exchange Art purchasers are non SOL whales and also non NFT whales. But anyway, the share of NFT whales among the Exchange Art purchasers is more (almost 4% of them are NFT whales which are holding more than 1000 NFTs in their wallet).
• The market share of Exchange Art NFT purchasers is almost 1% and is on the 8th rank of Solana NFT marketplace. So, we can say that Exchange Art is not very popular among many users in Solana ecosystem and its 1-1 NFT collections are primarily collected by select individuals.
• Magic Eden, Serum, Jupiter and Raydium were the most popular used programs by Exchange Art traders.
• Share of Wash Tradings in Exchange Art is almost 4% which is even decreasing as time goes on. This marketplace has by far the lowest share of Wash Tradings among other Solana marketplaces which shows the healthy situation of this platform.
• Totally, we can say that popularity of 1-1 NFT Art Collections is increasing more and more over time among the Solana users as more artists have realized the ease and low costs of launching digital art on Solana. To the extent that this high increasing popularity is affecting the price of tokens on Exchange Art which can be a problem for low-cost NFT transactions and also users who can not afford (or do not tend) to spend money on expensive NFTs.

Discord: Ali3N#8546 Twitter: Alik_110 Email: Alik110.72@Gmail.com

Based on the above left chart, we can see that more than 36.5% of all NFT sales in Exchange Art are done with less than 0.1 $SOL and followed by 33.2% of sales that are done with 1 - 10 $SOL.

There are only 0.818% (less than %1) of all sales in this ecosystem that was done with more than 50 SOL.

Totally, we can see that more than 94% of NFT sales in Exchange Art are done with prices up to 10 $SOL.

On the right chart, we can see a comparison of NFT sales in different marketplaces by their volume.

As we see, the share of sales with 1-10 $SOL or 0.1 - 1 $SOL price in the majority of other marketplaces has dominance. unlike Exchange Art that we have seen sales with less than 0.1 $SOL have the highest share.

So, we can kinda conclude that Exchange Art NFT sales are done with less price than the majority of other marketplaces in Solana, and maybe it’s good news for Traders who can not afford to buy expensive NFTs.

Dashboard Introduction & Methodology

In this dashboard, I am going to perform a deep analysis of the Solana NFT marketplace “Exchange Art” and also compare its growth vs the general growth of the NFT ecosystem on this chain over-time.

The main table That I am going to use for this analysis is solana.core.fact_nft_sales with filtering the marketplace column to ‘exchange art’. (I am only considering successful transactions for this analysis).

So, in this dashboard, I am going to:

• Analyze overall metrics about the Exchange Art NFT marketplace (+ over-time analysis)
• Compare the growth rate of Exchange Art vs general NFT ecosystem growth in Solana.
• Compare Exchange Art’s market share vs other NFT marketplaces in Solana ecosystem.
• Analyze the behavior of Exchange Art Purchasers & Sellers.
• Analyze the behavior of Exchange Art NFT holders and compare it with Other Marketplaces (such as Magic Eden) NFT holders.

On the left chart, we can see the evolution of NFT sales (by their volume) in Exchange Art marketplace over time.

As we see, the share of sale transactions with 0.1 - 1 $SOL is decreasing more and more over time and on the other hand, we can see increasing dominance of sales with 1 - 10 $SOL , 10 - 25 $SOL and also more than 50 $SOL as time goes on.

So, as we have seen in the above over-time charts, price of tokens and NFT sales in Exchange Art is increasing over time.

Purchasers Stats

And based on the left chart, BOOGLE NFTs are the most expensive tokens on Exchange Art to the extent that we can see the most expensive sold NFT on this market was BOOGLE #100 with 2500 $SOL sale price. (left image)

So, the whale activity on Exchange Art BOOGLE collection is more than other projects.

The interesting thing in Exchange Art is that more than %35.2 of tokens on this marketplace were sold with 0.00211584 $SOL price and this price is the most popular sale price of NFTs in this marketplace!

NFTs with 1 $SOL price are on the next rank with 5.68% of total sales and 0.5 $SOL sold NFTs are on the next rank with 3.61% of share.

So, this seems users on this marketplace morely tend to trade low-cost NFTs rather than more expensive ones.

Sellers Stats

Earned / Lost Money From Trading NFTs on Exchange Art

NFT Holding and Holders Stats

Based on the above pie-charts, most number of NFT traders on Exchange Art have experienced LOSS from trading in this marketplace ( in both terms of $SOL and $USD).

But the interesting thing is that the average net gained/lost volume from trading NFTs in this ecosystem (in both terms of $USD and $SOL) is positive (>0) and this means the profitable trading activities of Exchange Art NFT traders.

The avearge holding time of NFTs by Exchange Art purchasers is 34.2 days (more than 1 month) which is a good satisfying result and shows the high loyalty of this marketplace’s purchasers to their purchased NFTs.

On the other hand, we can see that majority of purchasers have only held their NFTs for less than 1 day and the second rank belong to the holder with 1 month - 3 month holding period.

The interesting thing is that there is not any NFT trader that have held their purchased NFT for more than 1 year.

With a comparison of Wash Trades on different Solana NFT marketplaces, we can see that Exchange Art has by far the best overall situation since the number and also volume of wash trades in this marketplace is way less than other marketplaces and this is quite good statistic for this platform and shows the healthy situation of Exchange Art.

Wash Trading

Wash trading refers to an illegal activity in which a single trader buys and sells the same asset in order to generate misleading market information. Wash trading is often performed to artificially inflate the trading volume of an asset or marketplace.

NFT Wash Trading

an NFT wash trader would buy and sell their own NFT so that it will show inflated volume and interest and possibly a price increase. (The wash trader controls both the buy and sell prices, so they can buy it at a higher price from themselves) This behavior can be repeated over and over. As a result, outsiders seeing this increased activity might consider buying the NFT at an inflated price. Once the NFT is sold to an outsider, the NFT creator pockets the difference.

My Definition of Wash Trading In This Analysis: Trader 1 sells an NFT to Trader 2 and then the same NFT is sold again from Trader 2 to Trader 1.

On the left chart, we can see a comparison of average & median volume of sales (which can be the average and median price of traded tokens) on Solana NFT marketplaces (including Exchange Art).

As we see, the average and median volume of sales in Exchange Art is one of the lowest among NFT marketplaces in Solana (rank #7) and this shows this marketplace is optimal for low-cost NFT collections.

Based on the left charts and my above defined methodology, the majority of NFT traders in Exchange Art are not $SOL whales and also are not NFT whales.

Anyway, the share NFT whales among the Exchange Art NFT traders is more than SOL whales.

Exchange Art NFT Traders’ Behavior

In this part, I have tried to identify the behavior and identity of NFT traders in Exchange Art.

For the first part, I have defined 2 categories:

1- SOL Whale: Users With More 1,000 $SOL in their wallet.

2- NFT Whales (Art Lovers): Users With More Than 1,000 Held NFTs in Their Wallet.

Then, I have calculated the % share of Solana NFT marketplaces (including Exchange Art) to All NFT traders in this chain.

Then, I have extracted the top popular destinations of Exchange Art NFT traders.

On the left chart, As mentioned earlier, I have calculated the % share of Solana NFT marketplaces (inclduing Exchange Art) traders to the all NFT traders in Solana ecosystem.

As it was obvious, Magic Eden as the top popular NFT marketplace in Solana has by far the highest share of traders.

Exchange Art is on the 8th rank of this list among 11 total NFT marketplaces in Solana.

So, we can say that Exchange Art is not very popular among many users in Solana ecosystem and its 1-1 NFT collections are primarily collected by select individuals.

On the above charts, I have analyzed the most popular used programs by Exchange Art NFT purchasers and as we see, Magic Eden as the largest NFT marketplace in Solana is by far the most used pograms (in both terms of number of transactions and users) and we can see some popular swap programs such as Serum, Jupiter and Raydium on the next ranks of these lists.

Based on the published tweet by Exchange Art Official Twitter Account, this company has raised $3.2M to bolster the digital art adoption. They said that will use the new capital to support product development and grow the artist and collector base, as well as to support the current artists that are selling on the platform.

The interesting thing is that the NFT sales activity on this platform has increased after a 1month delay of this announcement.