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.

Dashboard Introduction

In this dashboard, we will be comparing NFT aggregators on Uniswap like: OpenSea, LooksRare, X2y2, Sudoswap, Nftx and Larva Labs. We will look at the overall trading activity as well as the platform details since it’s inception on November 29th.

Approach

1. Table Used: ethereum.core.ez_nft_sales
2. Uniswap Universal Router: 0xef1c6e67703c7bd7107eed8303fbe6ec2554bf6b
3. All NFT sales volume will be calculated in USD volume.
4. NFT Wallets will be split into Active Wallets and Unique Wallets. Unique Wallets calculation only accounts for wallet’s first NFT purchase. Therefore, there will be no duplication wallets.

Topics

1. Platform Sales Volume
2. Platform Sales Transactions
3. Platform Active & Unique Wallets
4. Platform Details
5. Gas savings

Platform Sales Volume

Platform Sales Transactions

• The metrics above depicts the sales volume details on OpenSea, LooksRare, X2y2, Sudoswap, Nftx and Larva Labs since November 29th.
• We can see that OpenSea had considerably larger sales volume on majority of the days.
• Given that OpenSea is the largest NFT platform in the NFT industry, this is not surprising.
• However, sales volume for Looksrare were significantly high on some days and even surpassed the sales volume of Opensea
• Daily average sales volume for Larva Labs and OpenSea has been the highest among all platforms.
• The market share of Nftx accounts for only 2.56%, which is the least among the 6 Uniswap NFT aggregators.

Platform Active & Unique Wallets

• The metrics above depicts the sales transaction details on OpenSea, LooksRare, X2y2, Sudoswap, Nftx and Larva Labs since November 29th.
• Despite the average sales volume for Larva Labs is the highest, we can see that there were only 1 total sales transactions on Larva Labs.
• OpenSea holds the largest market share of total sales transactions than the remaining marketplaces with nearly 70%.

Platform Details

• The metrics above depicts the NFT buyers on OpenSea, LooksRare, X2y2, Sudoswap, Nftx and Larva Labs since November 29th.
• The metrics for NFT buyers shown a similar trend with the sales transactions metrics, with OpenSea considerably outperformed other marketplaces.
• Furthermore, X2y2 came in second in total unique wallets with 408 or 15.2% of the market share.

Gas savings

• The metrics above depicts the platform details for OpenSea, LooksRare, X2y2, Sudoswap, Nftx and Larva Labs.
• Top collections on Looksrare generated the highest sales volume when compared to the remaining platforms.
• Among all marketplaces, Opensea had the highest proportion of users that have purchased 2 to 5 NFTs at 15.65%
• Furthermore, more than three quarters of users on across all marketplaces have only purchased one NFT.
• Finally, majority or 40.1% of the purchases range between 50 to 500 USD.

Conclusion

1. Platform Sales Volume:

   • On the majority of the days, OpenSea's sales volume was noticeably higher. This is hardly unexpected considering that OpenSea is the largest NFT platform in the undustry.
   • Larva Labs and OpenSea have the greatest daily average sales volume across all platforms.
   • Nftx has the smallest market share among the six Uniswap NFT aggregators, accounting for only 2.56%.

2. Platform Sales Transactions & Buyers:

   • With over 70% of total sales transactions and unique users, OpenSea has the biggest market share among the remaining marketplaces.

   • Furthermore, X2y2 finished second with around 15% of the market share.

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3. Platform Details:

   • When compared to the other platforms, Looksrare's top collections achieved the most sales volume.

   • Across all marketplaces, more than three-quarters of users have only purchased one NFT.

   • The majority of purchases, or 40.1% of them, fall between 50 and 500 USD.

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4. Gas Savings:

   • Rarible had the lowest average gas fee when compared to Uniswap NFT aggregators and Blur.
   • NFT aggregators on Uniswap, on the other hand, had the highest gas fee.

• The metrics above depicts the average gas fee for Uniswap NFT aggregator, Blur and Rarible since November 29th.
• As can be seen, Rarible had the lowest average gas fee among all with less than 5 USD per sales.
• Next, daily average gas fee on Uniswap NFT aggregator and Blur were extremely comparable and have been steadily increasing over time.
• However, NFT aggregator on Uniswap had the highest gas fee with an average of 32.9 USD per sales.