The sales volume chart above shows that the sales volume on Magic Eden has been declining on the first four days since Opensea's Solana launch. However, the sales volume on Magic Eden surged to over 50k SOL on 11th April. On the other hand, the sales volume for Opensea for Solana NFT, peaked on the second day of launch, with 3k SOL transacted.

Introduction

OpenSea is the leading NFT marketplace, with monthly sales exceeding $3.5 billion. On April 6th, OpenSea announced SOL integration, allowing the SOL NFT ecosystem to tap into the largest source of NFT liquidity. Magic Eden, on the other hand, is the most popular NFT marketplace on SOL.

In this dashboard, we will analyse the following data between Opensea and Magic Eden since Opensea's Solana Launch:

1. Sales volumes between OpenSea (for solana NFTs) and Magic Eden
2. Number of unique users have bought a SOL NFT on OpenSea vs Magic Eden

According to the graph above, the number of unique users on Magic Eden has risen from 11.74k to 12.82k on the second day and peaked on 16.25k on 11th April, indicating that users on Magic Eden are sticking with it rather than migrating to OpenSea. The unique users on OpenSea has been declining since April 7th and hitting a low with 82 unique users on April 12th.

How do you expect this trend to develop over time?

As previously said, OpenSea is the top NFT marketplace, and this decision to integrate Solana NFT allows the OpenSea platform to support a diverse range of NFTs. Previously, it was primarily focused on Ethereum-based NFTs, as well as integrations with the Polygon and Klatyn blockchains. Solana on Opensea will have a positive influence on the NFT marketplace's growth by increasing everyday user activity and thereby increasing trade volumes. With that in mind, I believe this development will continue to improve over time.