Try Quests to earn cryptoNFTx - Highest Sales Volume
Which 3 NFT collections have the most total sales volume in the last 60 days on NFTX? These are transactions where someone redeems their NFTX tokens for a specific NFT.
Description of work:
- 3 NFT collections have the most total sales volume in the last 60 days on NFTX?
Introducing NFTX
As mentioned in the NFTX documentation:
NFTX is a platform for creating liquid markets for illiquid Non-Fungible Tokens (NFTs). Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token (vToken) that represents a claim on a random asset from within the vault. vTokens can also be used to redeem a specific NFT from a vault.
To better understand the question, we first calculate some of the parameters related to NFTX sales, including the following:
- NFTx sales volume in the last 60 days
- Sales count on NFTX in the last 60 days
- Number of NFTs sold on NFTX in the last 60 days
- Sales volume and sales count on NFTX during last 60 days
To do this, we use the nft_sales table from ethereum_core schema.
-In the chart [Sales volume and sales count on NFTX during last 60 days] to better show the number of sales compared to sales volume, we have multiplied the number of sales by 10^4.
According to the last chart, it can be obtained that with increasing the number of sales, the sales volume does not necessarily increase and vice versa.
- For example, the highest number of sales (during the last 60 days) occurred on May 21, 2022 (50 k). The highest sales volume (during the last 60 days) occurred on May 13, 2022 (about 2$ million), while on this day the sales volume was about half of its highest amount in the last 60 days (25.5K VS 50K). This shows that in addition to the number of sales per day, the price of NFTs sold that day also affects the sales volume of that day.
Now we calculate what the question asks, 3 NFT collections have the most total sales volume in the last 60 days on NFTX
As shown in the first chart, the highest sales volume is related to milady, which also has the highest number of sales.
But the interesting thing is the presence of boredapeyachtclub(BYC) among the top three NFTs in terms of volume, with only 7 sales, its sales volume has reached about 2.2$ million, which is about 10% of the sales volume of the last 60 days with only 7 sales in Has authority.
These represent the very high price of NFTs in this collection and show how much the collection in which an NFT is located can affect the price of an NFT.
The chart above shows that on the days that BYC was sold, sales volume increased so that the highest daily sales volume occurred on the days that BYC was sold.
From this chart and the "Sales volume and sales count on NFTX during the last 60 days" it can be concluded that only the high number of NFT sales does not increase the daily trading volume and the price of sold NFTs is a very important factor in determining the sales volume.