The Mad Lads collection comprises 10,000 NFTs on the Solana blockchain, minted on April 21, 2023, at a price of 6.9 SOL. This comprehensive analysis aims to provide an in-depth examination of various aspects of Mad Lad, including minters, buyers, and trades, as well as comparisons from different perspectives. The analysis is divided into three parts: Minters, Holders & Trades, and a Comparison section.

In the first part, we delve into the details of Mad Lad minters, exploring mint statistics such as the number of mints, the percentage of minters with their first-ever mints, and the minters' balances at the time of minting. Additionally, we analyze the share of total transactions made by minters on the Solana blockchain after the minting process.

Moving to the second part, we provide an overview of the current holders of Mad Lad NFTs, examining the age of their wallets and the percentage share of transactions that occurred after their purchase of the NFT. We also analyze the trading activity and volume within the Mad Lad ecosystem, along with identifying the first NFT collections purchased by both holders and buyers. Furthermore, we investigate whale accounts among buyers and holders, the flow of funds into holders' and buyers' wallets prior to NFT purchase, and present a list of the top traders involved.

In the comparison section, we contrast the early days of the Degods collection with those of Mad Lad, examining liquidity flows from Mad Lad and comparing them with other top collections. Additionally, we analyze Mad Lad users' interactions and conduct an average buyer profile analysis to highlight the distinctive characteristics and behaviors within the Mad Lad ecosystem besides Mad Lad holders' crossovers with the top 100 collections.

In conclusion, this analysis aims to provide a thorough understanding of the Mad Lad NFT collection on Solana. By examining the minters, holders, trades, and conducting comparisons, we can gain valuable insights into the characteristics and dynamics of Mad Lad. The analysis will shed light on minting patterns, holder behavior, transaction volumes, liquidity distribution, and user interactions. These findings will contribute to a deeper comprehension of the Mad Lad ecosystem and its significance within the broader NFT market on Solana.

• Around 15% of Mad Lad NFT minters conducted the majority of their transactions exclusively after minting the NFT, indicating that they are new users who joined Solana specifically for Mad Lad minting.

• After purchasing Mad Lad NFTs, a significant number of holders reduced their Solana activities, focusing primarily on owning the NFT. However, the launch of Mad Lad also brought in a substantial group of active users who conducted the majority of their transactions post-purchase, contributing to the growth of the Solana ecosystem.

• Around 17% of Mad Lad holders consider it their first NFT experience, showcasing its role in introducing users to the NFT world. Furthermore, approximately 29% of Mad Lad buyers made it their first NFT purchase, highlighting its potential in attracting newcomers to the Solana NFT space. Mad Lad's significance in initiating users into the NFT ecosystem is evident from these findings.

• Mad Lad NFT trading showcases eight whales with over 10,000 $SOL volume, along with numerous traders in different volume ranges. For Mad Lad buyers, approximately 200 whales and 1,700 traders engage in substantial trading volumes exceeding 10,000 $SOL and ranging from 1,000 to 10,000 $SOL, respectively.

• Prior to purchasing Mad Lad NFTs, a significant number of holders and buyers brought $SOL funds to their wallets, predominantly through centralized exchanges (CEXs). Additionally, few users utilized the Wormhole bridge to transfer funds from other blockchains to their Solana wallets, indicating a keen interest in participating in the Mad Lad NFT market.

• In the early stages, Mad Lad NFTs displayed higher trading activity and volume compared to Degods. Mad Lad experienced price fluctuations, while Degods maintained a steady upward price trend. These differences highlight the unique dynamics of each collection.

• The liquidity distribution among the top 10 collections shows distinct patterns. Mad Lad stands out with a majority (around 54%) of its liquidity concentrated in Tensorswap. Solanart dominates liquidity for the Degen Ape collection (64%), while Magic Eden emerges as the favored platform for liquidity deployment in the other top 10 collections. This showcases the diverse distribution of liquidity and platform preferences within the NFT market.

• Comparing Mad Lad purchasers and NFT Degens in 2023 reveals significant differences. Mad Lad buyers showed higher engagement with DeFi (81% vs. 64% for NFT Degens), averaging around 100 trades. In contrast, NFT Degens averaged over 150 trades. Mad Lad users also demonstrated higher trading volume (1.21K $SOL) and spent more per purchase (40 $SOL) compared to NFT Degens. These findings underscore distinct behaviors and preferences between the two groups within the Solana ecosystem.

The methodology employed for this analysis encompassed a comprehensive data retrieval process from multiple tables within the Solana blockchain database. The primary focus was on extracting relevant information pertaining to Mad Lad NFTs and their associated attributes. To achieve this, the solana.core.dim_labels table served as a valuable resource for retrieving details such as NFT names and their corresponding collections.

To delve deeper into the analysis, key data points were obtained from various core tables within the Solana blockchain database. These tables included solana.core.fact_nft_mints, solana.core.fact_transfers, solana.core.fact_transactions, solana.core.fact_nft_sales, and solana.core.fact_events. By leveraging the information stored within these tables, insights were gathered regarding NFT mints, minters, trades, and user interactions.

To ensure consistency and clarity, all volume measurements throughout the analysis were denominated in $SOL, the native cryptocurrency of the Solana blockchain.

In order to establish a framework for categorizing users and understanding their behaviors, several definitions were introduced. For instance, the term Whale was defined as a user who possessed a balance exceeding 10,000 $SOL or engaged in trading activities resulting in such a substantial volume. This definition allowed for the identification of high-value participants within the ecosystem.

Furthermore, the concept of a User was introduced to capture a comprehensive view of NFT activity. In this context, a user was defined as the combined count of both NFT buyers and minters, providing a holistic representation of the engagement within the analyzed dataset.

To gain insights into the behavior of specific user groups, the analysis introduced the notion of NFT Degens. These users were identified as individuals who had purchased at least 10 NFTs from the top 100 traded collections based on volume. This definition allowed for a focused examination of a subset of users who demonstrated a notable level of engagement within the NFT market.

By adhering to this methodology, the analysis was able to retrieve and analyze relevant data points, facilitate comparisons, and draw meaningful conclusions about the Mad Lad NFTs and the Solana ecosystem.