Try Quests to earn SOLSolana NFT Project Feature - SOLgods
Outline
For this question, we decided to analyze the SOLgods NFT. A Solana-based collection that was created by The Fracture on 2021. The artists of this project, created 6,666 unique art pieces by combining 7 different traits/features randomly.
These traits are:
- Back
- Background
- Character
- Eyes
- Face
- Head
- Torso
Every feature get different number of values, which we will analyze in this report.
We first take a look at some general statistics of SOLgods. Then we take a look at the collection price and its relation with the whole market condition. We Also take a look at the distribution of NFT features. Finally, we analyze what happens on the secondary markets.
Daily Resales and Average Price
- The following figure on the left shows the number of sales vs. the average daily price. We can see the number of sales fluctuated a lot, with extreme sales on some days. Also, the average price experienced its all time high during April and May of 2022.
- We were interested in knowing why the price of SOLgods increased on April and May of 2022, so we compared it with the market situation (we used Bitcoin price as a proxy for the whole market condition). On the following right figure, we can see that as the price of Bitcoin began to fall on April, the average price of SOLgods sharply increased, as was high until the beginning of May 2022. But then, it started decreasing with the Bitcoin price.
SOLgods’ Features Distribution
Different features/traits/attributed can impact the price of every NFT collection. Lets see of they affect SOLgods too. It has been said that the scarcity of a feature can increase/decrease the price of an asset.
- Back: There are 8 unique Back for SOLgods. None is the most common Back and hence the lowest average price, and Devil is the most scarce Back with the highest average price.
- Background: Different Backgrounds have almost the same price range, except Matrica and Lightning. These are the most scarce features.
- Character: SOLgods have 3 unique characters with equal number of observations and the same price ranges.
- Eyes: This time though the scarcity did not play a role! The most expensive feature is Bandaged which is the second most scarce Eyes.
- Head: Head takes many different variations. There are ones with high number of observations like None and Beanie Black, and there are those that occur very rarely, like Somberito and Goat, which both were only used in 10 NFTs.
- Face: We can cluster part of the faces into the same groups, Bandana, Gas and Squidgame. Each of the three Squidgame face variants are among the most expensive NFTs.
- Torso: Torso also have many variants, but except 5 of them, the rest are almost equally common but they still affect the price of SOLgods,e.g. Toga and Trenchcoat are two of the cheapest Torsos while Biggiesmalls and Slave are the most expensive ones.
Secondary Markets
Finally, here is the total number of sales and total sales amount in SOL from the secondary markets. SOLgods can be traded on Magic Eden v1 and v2, OpenSea and SolPort. We can see that both versions of Magic Eden have the highest number of sales and total sales volume in SOL, so much that we can conclude Magic Eden v2 is the main market to buy or sell SOLgods.
There were only 21 sales on OpenSea and only 2 on SolPort at the time of writing this report.
