Untitled Board
Create a dashboard that compares traction between the 0% royalty marketplaces like Yawww and Solanart with Magic Eden.
The Question
Is Yawww eating into the market share of Magic Eden?
What NFTs have been most popular to trade with 0% royalties?
Is there a correlation between higher royalty percentages and frequency of being traded on Yawww compared to Magic Eden?
Approach
I have provided some metrics to measure the impact of 0% royalty fee on nft sale stats, comparing Magic Eden v1 and v2 as not-0% royalty and Yawww and Solanart as 0% royalty.
Metrics provided are :
- Daily sale count growth by Marketplace type
- Daily sale count share % by Marketplace type
- Daily sale value $ share % by Marketplace type
- Daily sale value $ growth by Marketplace type
- Buyer count growth by Marketplace types
- Daily unique buyer count share % by Marketplace type
- usd per Buyer over time - usd per sale over time
- share of usd value in weekly top 10 sales
- share of usd value in top 100 NFTs
- Daily First ever NFT buyers share % by Marketplace type-first time purchaser count growth
- NFT Holders share by hold_days
- whale activity - num sales
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Findings and Conclusion
- Yaww and Solanart platforms have been able to take more market share day by day during the last three months and are growing slowly and with a gentle slope. Looking at the dollar value of transactions, this issue becomes more clear, with a significant growth, from 0.1% on June 28, to 22% of the value of transactions at the end of August. This event is considered a great leap and promises a bright future.
- One thing to note is that the number of trades and traders is almost negligible compared to its competitor Magic Eden, at the same time, the value of the trades is very impressive. The average transaction value per user for 0% Marketplaces overall in the last three months was 32K. This figure for Magic Eden was 24k. Also, the average dollar value of transactions in the last three months for Yawww and Solanart was 13k and, for Magic Eden, it was 960!
- Looking at the top 100 tokens in terms of dollar value that have been traded in the last quarter, 0% marketplaces have been able to take a 38% share in terms of sales value, and this is considered a great success. Also, looking at the chart of the top 5 weekly tokens, we notice that the share of 0% has gradually increased and has surpassed Magic Eden towards the end of the chart.
- Users who bought NFT for the first time on the Solana network are shown in the corresponding chart. Of these users, the share of 0% marketplaces was between 5 and 25% daily.Although this trend has gradually decreased.
- User behavior is analyzed in the end charts. Flipping and the average days of keeping tokens have been investigated. In this sense, the behaviors of the two groups were close to each other. However, Flippers' share of Magic Eden was about 10% higher than Marketplaces' 0%. In terms of the activity of whales, it can be said that the attention of whales is not directed to Yawww and Solanart.
According to all the examined cases, two points are important, the first is the rights of the owners of the work, which have been disputed and worried in the new system. The second issue is the amount of audience attraction, which was done almost well in the first quarter, especially in the discussion of the dollar value of transactions. But it is still too early to make a definitive judgment and we have to wait for the market's reaction to these changes.
Royalties from NFTs give the original owner a percentage of the sale price each time the NFT creation is sold on a marketplace. The average NFT royalty typically ranges from 5-10%
Recently, in the Solana network, some platforms lik Yawww and Solanart have decided to revolutionize NFT transactions by setting the royalty fee to 0%. Although this issue may attract more audiences, it has raised concerns about artists' rights.