Al Goanna is an NFT collection on the Algorand blockchain, inspired by the network's carbon-negative approach to preserving Goanna's habitat in Australia. Initially, they had pledged to plant one tree for every NFT minted, but now they are aiming for 50k trees after achieving their initial goals.

Methodology

The data for this analysis were collected from the account_asset, asset, asset_configuration_transaction, asset_transfer_transaction, and payment_transaction tables of the algorand schema.

The first step was to find all the addresses for the NFTs in the collection. To do so, the creator address below was used to query the asset table. Another crucial point was the fact that 5 NFTs out of the 489 total, including numbers 82, 217, 357, 400, and 408, have different names. So it has to be taken into account to use a proper regex in the query to collect the whole collection together.

Creator Address: D5J7H7PIYKLY2U6A5OFUAC7GQHTHSXXNX65DSD3CJYPBV2MVK6NTNW44CA

The next step was to use these assets to find the addresses of their holders by joining them to the account_asset table. There was an inconvenience in finding the holder of Al Goanna 008 which has two holders at the same time. Considering the latest block number and confirming it using the nftexplorer, one of them was chosen as the current holder.

The measurements for fees, sales number, sales volume, and the price of NFTs were conducted using the asset_transfer_transaction, and payment_transaction tables. Each sale transaction consists of multiple sub-transactions under the same transaction group ID. Among them, the transaction with the highest amount of ALGOs is responsible for the price and sale volume of the NFT. There might be another transaction that is accounted for the transfer of the sale's royalty to the address of the collection's creator. Also, there might be separate transactions that include the share of the NFT marketplace which were not included in this analysis.

For the analysis of the ALGO balance of NFT holders, five categories were defined based on the number of tokens these addresses hold. The categories are as follows:

• Tiny: holding less than 100 ALGOs;
• Small: holding between 100 and 999 ALGOs;
• Medium: holding between 1,000 and 9,999 ALGOs;
• Big: holding between 10,000 and 99,999 ALGOs;
• Large: holding more than 100,000 ALGOs.

Holders Overview

The investigation of Al Goanna's NFT holders has shown that the collection is well distributed among the community and there are only a few large holders. The majority of holders with more than half of the total have only 1 NFT while 38% of NFTs belong to holders holding 2 to 9 of them. Only ~8% of the total 489 NFTs belong to holders having more than 10 of them. The analysis of top addresses had shown that only 3 holders have more than 10 Al Goannas and even among the top holders, the NFTs are well distributed.

In the following charts, the daily and monthly amount of fees generated by the Al Goanna NFTs sales have been demonstrated. The high fee amounts in the three first months after launch is an indication of a high number and volume of sales which generates fees as a result. It peaked in November 2021 which can be due to either the initial hype after the launch of the collection or the major bull run of the crypto market which resulted in the growth of most of the projects in the space. It can be seen the amount of generated fees drastically dropped in the following months since December 2021 parallel to the major downtrend of the crypto market.

Fees

The sales analysis also confirms the previous findings. As it can be seen in the next two charts, both the sales number and the sales volume were high in late 2021 while they have started to decline since December. Some peaks coincide with the recovery in the market, but overall, they are not significant enough to alter the trend. In addition, the cumulative number and volume of sales also demonstrate the same slow down as their slopes flatten.

Sales Analysis

To be able to analyze the ALGO holdings of Al Goanna's holders, the wallet addresses are categorized into five segments based on the number of ALGO they hold. As it is indicated in the next chart, the majority of holders with a share of more than 80% have an ALGO holding of more than 10,000 tokens (big and large holders together). Medium holders have around 15%, and small and tiny holders have less than 2% combined.

The number of NFTs these wallets hold is in contrast with their ALGO holdings. As the second chart suggests, Tiny wallets with less than 100 ALGOs hold nearly 43% of the NFTs. Medium and small wallets have a share of around 24% and 20% of the total NFTs, respectively. Interestingly, big wallets only hold about 12% of the NFTs and large wallets have a share of less than 1.5%.

ALGO Balances of the Holders

In the next chart, the ALGO balance of Al Goanna's NFT holders is plotted over the number of NFTs they hold. As it is demonstrated below, the number of NFTs an address holds is not in direct correlation with its ALGO balance. there are holders with a large number of NFTs and at the same time with a low volume of ALGO in their possession. The opposite is also true.

Price Analysis

The following charts show the average daily price of Al Goanna NFTs over their sales number and volume. Through these graphs, it is demonstrated that the collection had only seen a high sales number only after its launch, especially when the whole crypto market was in an upward movement in late 2021. Since then, the number of sales has dropped drastically to below even 10 trades or less per day. The sales volume on the other hand does not show a significant correlation with the price and it has had a steady trend since the launch of the project. The project only saw a huge bump in its sales volume in late November 2021.

Conclusion

The Al Goanna NFT Collection as one of the top projects in the Algorand ecosystem has generated a large amount of profits for both its creator and its holders. The huge number and volume of sales after its launch led to an immense increase in the price for its NFTs which in turn led to the decrease in sales since December 2021 and the royalties of the creator. The analysis of NFT holders of this collection has demonstrated that it has been well distributed among the community and the number of holders with a large number in their possessions is quite low. Last but not least, the wallet balance analysis of the holders has indicated that the majority of the NFTs are held by regular addresses with less than ten thousand ALGO tokens in their wallets.