About Art Blocks NFTs

Generative art is a type of cryptoart that has been around for decades. However, this art got a new life with the film industry. Art Blocks is the first NFT platform that presents the idea of producing art content at the required time in the blockchain. This project is a huge step in the peerless token market and the newness of this platform has created a lot of buzz in the industry. The Art Blocks platform is an Ethereum network-based platform that offers unique, programmable, and on-demand artworks to collectors around the world. It does this by using NFT airdrops, a process in which the user generates an NFT while not being able to predict and manipulate the final outcome of the work.

The Art Blocks platform allows artists to upload their algorithms that produce different types of artworks with different styles to the platform and specify the price floor for each art object and the maximum number of artworks in each collection.

==One of the most important differences between this project and other platforms is that in other NFT platforms, the digital asset is usually stored in IPFS, as a peer-to-peer file system, while in Art Blocks, the feature of artwork generated by the algorithm is in the form of code. It is encrypted.==

Overview of analysis:

This dashboard presents an analysis about the Art Blocks NFTs on Ethereum network. This investigation has been divided into the following parts:

The general stats
Time base analysis of NFT sale
The platforms used for sale of Art Blocks
How purchasers of Art Blocks behave
Top NFTs on the Art Block collection
The Future of Art Blocks

According to the analysis done in this dashboard the conclusion has been shaped.

Methodology:

The Flipside date has been utilized to execute this analysis. The roadmap of this analysis has the following steps:

Sale of NFT on Ethereum→ from ethereum.core.ez_nft_sales where PROJECT_NAME='art blocks'
Weekly and monthly sale activity
Sale on days of week→ dayname(to_date(block_timestamp::date)) as week_day
The moving average for 7-days
Purchaser distribution by sale price
NFT hold time
Diamond in hand
Crossover with other NFT collections

Part 1: General stats

Part 2: Sale stats over time

Part 3: Investigation on Marketplaces

Findings:

The highest sale activity for the Art Blocks NFT collection happened on the last week of August 2021. So in term of month we can see that the August 2021 is the most busiest week for Art Blocks sale.
The ETH value of sale volume increased on September 2022 and it might be due to the dramatical drop of ETH price.
About 39.7 million USD have been paid as a Royalty fee by sale of Art blocks NFTs.
The highest average sale price for Art Blocks occurred on the September 27 to October 4, 2021.
From the days of week analysis, Mondays has the highest sale count and volume among days of week.

Findings:

The most popular marketplace for sale of Art Blocks is OpenSea according to the all of the numbers.
The average sale price on NFTX marketplace has the highest value among other marketplaces.
The Art Blocks have been added to various marketplaces and validated by cumulative chart as below:
- OpenSea→ 2020-11-27
- Rarible→ 2020-12-07
- NFTX→ 2021-07-04
- LooksRare→ 2022-01-05
- X2Y2→ 2022-02-10
- Sudoswap→ 2022-08-02

Part 4: How purchasers interacted with Art Blocks

Findings:

Now lets talk about the most important of this analysis and determine the behavior of Art Blocks purchasers.

Most of the sales on Art Blocks belong to the sale price between 500-2000 USD.
About 1455 purchasers bought NFTs in the sale price over 50k USD.
Most of the purchasers on Art Blocks hold NFTs over 1 month about 5536 unique buyers.
A large group of purchasers on Art Blocks NFTs hold 1 NFT and about 4582 unique holders hold >5 NFTs.
About 8.21% of Art Blocks purchasers are conservative and only bought NFTs on Art Blocks collection. But over 91% of buyers buy NFTs from other collections.
The most popular NFT collections that purchasers of Art Blocks bought from it is OpenSea collection. The Rarible NFTs and Cool Cats are the next popular collections for crossover by Art Blocks buyers.
Lets see how many purchasers of Art Blocks have diamond in hand and the answer is about 35.6% of purchasers.
Among purchasers of Art Blocks, over 10.557k buyers have diamond in hand and did not sold their NFTs and keep like diamond in their hands.

Part 5: Top NFTs on collection

Findings:

The charts related to the most expensive and popular NFTs on the Art Blocks collections shown in the next graphics.
Some of the most popular NFTs and their links have been demonstrated as below.

Future of Art Blocks:

The Art Blocks platform offers many attractions such as hierarchical ownership, so that by creating NFTs, you also earn money from its secondary sales. It doesn't matter if you are an artist or just want to buy and sell these tokens, this platform will bring you countless uses and benefits.
Its one of the most promising projects on Ethereum network.
This project hopes to enter the field of games. Snowfro came up with this idea in the form of a non-fungible token as a certificate for participating in online games.

Useful links and references: