NFT marketplace tracker on Algorand ecosystem

Overview of analysis:

In this dashboard, the NFT tool based on the Algorand.NFT schema has been developed. This tool called marketplace tracker and reader can set three various parameters:

Marketplace→ Default set to AB2 Gallery
Time period→ Default set to the past 6 months (180 days)
Time Basis→ Default set to Week

By setting all of the above parameters, you can track the different aspects of Marketplaces. This dashboard divided into the following parts:

Sale activity (Overall and time base)
Price analysis
Top NFT collections of marketplace
Behavior of purchasers on marketplace

About Algorand blockchain:

Algorand is a decentralized network designed to solve the triple problem of blockchain (speed, security and centralization). This network was launched in June 2019. Algorand is an open source blockchain with no need for permission that anyone can build and develop on. The focus of this network is on payments and execution of high-speed and instant transactions in the shortest possible time. Every second, more than 1000 transactions are processed in the network and finalized in less than 4 seconds.

The platform is built around a new proof-of-stake consensus mechanism called Pure Proof Of Stake. The system is designed as a fast and fair consensus system that allows holders of ALGO cryptocurrency to participate in block production and earn rewards for doing so.

ALGO is a native token of the Algorand blockchain, which is used for various purposes such as receiving rewards from the consensus proof of net stake or paying transaction fees on the network or as a means of payment.

NFTs and their applications:

NFT is one of the types of unique cryptographic assets and the abbreviation is Non-fungible token.

Algorand ecosystem has rising trend in NFT sector due to the recent partnership with FIFA.

The Most notable application of NFTs are:

Appearance, educational qualifications, history of medical records and many individual characteristics are different from others. All these features can be converted into NFT tokens and everyone can manage their own data.
Application of NFTs on computer games.
NFT innovation can be used to copyright digital works of art.
Earning money from personal and commercial brand
Defining identity on the web3

Methodology:

The data provided by Flipside has been used to handle this analysis.

This dashboard divided into the three major sections as below:

Sale analysis→
- Sale count, Purchaser count, Sale volume, Cumulative analysis, volume per day, Active days of week and etc.
Price analysis→
- 7-day moving average for sale price, Average sale price, Max and min sale price, Median of sale price
Top NFT collections of Marketplace
How purchasers of specific NFT behave→
- Count of NFTs hold by holders, Sale and purchaser distribution by sale price, Purchaser distribution by sale count, Crossover with other NFTs, Top traders of each collection

Part 1: Sale stats (Overall and over time)

The first section of this analysis represents the stats related to the sale activity of selected Marketplace over the chosen time frame.

In this part we will see:

Overall sale stats
Sale activity over the selected time frame and times basis

By the use of the results of this section, you can find the activity of Marketplace and obtain the information related to the marketplace from sale point of view.

Part 2: Price analysis

This section provides the price analysis related to the selected marketplace over the chosen time period.

In this sections you will find the following metrics:

Average sale price in ALGO and USD
Floor and highest sale price in ALGO and USD
Median of sale price in ALGO and USD
7-Day moving average sale price in ALGO and USD

All of the above metrics find out in overall and time base analysis and represented in this section.

Part 3: Top NFT collections

Now lets dive deeper into the marketplaces by determining the top NFT collections of selected marketplace over the chosen time period.

In this section, the following useful information can be found:

Top 10 NFT collections ranked by total sale volume in USD
The number of sale and unique purchasers for these top NFT collections
Average sale price in USD to determine that which collection is the most expensive one.
Sale analysis over time and find out the cumulative metrics related to the volume

By the use of the outcomes of this section you will able to track the most popular NFT collections on the selected Marketplace.

Part 4: Purchaser behavior

One of the most important investigations related to each NFT marketplace is determining the behavior of purchasers from various aspects:

In this part, the behavior of NFT purchasers on selected marketplace over the chosen time period has been investigated precisely.

The following metrics have been determined to underestimate that how users interacted with marketplace:

Purchaser distribution by count of buy: 3 buckets have been introduced.
Purchaser distribution by sale price in USD: 4 buckets have been defined.
How many NFTs held by each owner.
The crossover with other marketplaces mean that how users of selected marketplace interacted with other marketplaces in the chosen time period.
Top NFT buyers with highest purchase in USD.

References and useful links:

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani