Introduction to NFT

A non-fungible token (NFT) is a distinctive identifier that may be used to assign and establish ownership of digital assets using cryptography. To claim that NFTs or digital artwork are popular would be an understatement given that they have sold for millions, if not tens of millions, of dollars.

Through online exchanges or marketplaces, you may purchase, sell, trade, and create NFTs. Price can be set by the original creator or the current owner. Alternately is that users might have to place a bid on the NFT in an auction.

This Dashboard enables viewers to examine the details of Algorand’s NFT Platforms like: Atomic Swaps, ALGOxNFT, Rand Gallery, AB2 Gallery, Octorand and Shufl. Please select the Periodical and Starting_Date in the Parameters column to apply all visualisation.

Approach

1. Table Used: algorand.nft.ez_nft_sales
2. All NFT sales volume will be calculated in ALGO.
3. NFT Buyers will be split into daily Active Users and New Buyers. New Buyers calculation only accounts for user’s first NFT purchase. Therefore, there will be no duplication wallets.
4. Starting_Date format: YYYY/MM/DD
5. Default Starting_Date: 2022-08-01

Topics

1. NFT Sales Volume
2. NFT Sales Transactions
3. NFT Active & New Buyers
4. Platform Details

NFT Sales Volume

• The metrics above depicts the details of NFT sales volume for each Algorand NFT platforms since the start of August.
• As can be seen, since the beginning of August, Rand Gallery the most NFT sales volume on majority of the days.
• Furthermore, it accounts for 62.1% of the total marker share, which is significantly high when compared to other NFT platforms.
• ALGOxNFT came in second in sales volume market share with 25.3%, approximately 2.4 times lesser than Rand Gallery.
• The remaining platforms each had less than 10% of the market share.

NFT Sales Transactions

• The metrics above depicts the details of NFT sales transactions for each Algorand NFT platforms since the start of August.
• Similarly, Rand Gallery had the most NFT sales transactions among all Algorand NFT platforms.
• However, ALGOxNFT were relatively close in this category as the cumulative chart shows that both platforms were extremely competitive in sales transactions.
• On the other hand, NFT sales transactions on platforms like AB2 Gallery, Octorand and Shufl were the lowest, with an average of only 5 to 10 transactions per day.

NFT Active & New Buyers

Platform Details

• The metrics above depicts the details of active & new NFT buyers for each Algorand NFT platforms since the start of August.
• Interestingly, despite Rand Gallery having the highest NFT sales volume and number of transactions, ALGOxNFT had around 40% more unique users total than Rand Gallery.
• This shows that Rand Gallery NFT buyers were more active in purchasing NFTs than those on other platforms.
• Moreover, Rand Gallery and ALGOxNFT had the most daily NFT buyers on average with 230.19 buyers on Rand Gallery and 220.55 buyers on ALGOxNFT.
• We may get the conclusion that the two NFT platforms that were most often used on Algorand were Rand Gallery and ALGOxNFT. Platforms like Atomic Swaps, AB2 Gallary, Octorand, and Shufl, on the other hand, had far lower levels of popularity

Number of NFTs purchased by wallets

• The metrics above depicts the details of number of NFTs purchased by wallets for each Algorand NFT platforms.
• As can be seen, most of the wallets on all Algorand NFT platforms have only purchased on NFT.
• Nevertheless with 62.6%, Shufl had the greatest proportion of wallets that had only purchased one NFT.
• On the other side, Rand Gallery had the greatest proportion of wallets that purchased more than 10 NFTs.
• This is not surprising given that Rand Gallery had the biggest sales volume and transactions while ALGOxNFT had the most number of unique users in total.

ALGO Balance for wallets

Conclusion

1. NFT Sales Volume:

   • Since the beginning of August, Rand Gallery has consistently had the most NFT sales volume and it holds 62.1% of the market share

   • ALGOxNFT placed second, around 2.4 times fewer than Rand Gallery.

   • The market shares of the remaining platforms were all under 10%.

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2. NFT Sales Transactions:

   • Similarly, out of all the Algorand NFT platforms, Rand Gallery has the most NFT sales transactions.

   • ALGOxNFT, however, came quite near in sales transactions with Rand Gallery.

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3. NFT Active & New Buyers:

   • ALGOxNFT had almost 40% more unique users overall than Rand Gallery, despite the fact that Rand Gallery had the largest NFT sales volume and number of transactions.

   • This demonstrates that NFT purchasers at Rand Gallery were more active than those on other platforms.

   • We might come to the conclusion that ALGOxNFT and Rand Gallery were the two NFT platforms that were most often utilised on Algorand. Contrarily, the popularity of platforms like Atomic Swaps, AB2 Gallary, Octorand, and Shufl was far lower.

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4. Platform Details:
   • The majority of wallets across all Algorand NFT platforms have only made one NFT purchases and have less than 100 ALGOs.
   • Less than 5% of wallets on all platforms have 10,000 ALGOs or more.
   • Rand Gallery had the highest percentage of wallets that made more than 10 NFT purchases. This is not unexpected considering that ALGOxNFT had the most overall number of unique users while Rand Gallery had the highest overall sales volume and transaction volume.

• The metrics above depicts the details of ALGO balance for wallets for each Algorand NFT platforms.
• On Atomic Swaps, ALGOxNFT, Rand Gallery and AB2 Gallery, more than half of the wallets have an ALGO balance of less than 100 ALGOs.
• However, only 44% to 48.5% of the wallets on Octorand and Shufl had less than 100 ALGOs.
• Comparatively, less than 5% of wallets across all platforms contain more than 10,000 ALGOs.