Flow - RaceDay
What is the Flow Blockchain?
- Flow is a Layer 1 blockchain network, like Bitcoin, Ethereum, Solana, Algorand and Avalanche.
- Layer 1 network is a blockchain in the decentralised ecosystem where smart contracts can be deployed onto, whereas a Layer 2 protocol is a third-party integration that may be used in conjunction with a Layer 1 blockchain.
- As the core networks of their ecosystem, Layer 1 refers to a simple base blockchain network. Decentralized apps are built on top of Layer 1s by developers. Consider the internet to be an Layer 1, and Instagram to be one of the apps built on the internet.
- Flow is a fast, decentralised, and developer-friendly blockchain built by Dapper Labs to power the NFTs and digital collectibles of some of the world's biggest brands, including the NBA, UFC, CNN, Warner Music Group, Dr. Seuss, Ubisoft, and others.
- Flow employs an environmentally friendly Proof-of-Stake design that uses thousands of times less energy than Proof-of-Work blockchains such as the current Ethereum network. Learn more about the Flow blockchain here.
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What is the RaceDay NFT?
- RaceDay NFT is a first-of-its-kind motorsports NFT marketplace for race fans that offers a variety of collectibles that has been officially authenticated and verified on the Flow Blockchain.
- Speedway Motorsports founded RaceDay NFT in 2021 as a home for unique racing NFTs.
Introduction to this dashboard and Methodology
- In this dashboard, we will first compare to sales activity metrics of RaceDay NFT vs other Flow NFT Sports NFT collections such as nWay - Olympics and the Football Club. Sales activity metrics that we will look at include sales transactions, sales volume and buyer count.
- We will also examine the NFT collections that RaceDay NFT buyers have purchased on the Flow blockchain.
- Data in this dashboard are mainly acquired from the flow.core.ez_nft_sales table on Flipside.
- The contract addresses of RaceDay, nWay - Olympics and the Football Club are A.329feb3ab062d289.RaceDay_NFT, A.1d007eed492fdbbe.OlympicPin, A.81e95660ab5308e1.TFCItems respectively.
- This dashboard dates from January 1st 2022.
- All sales volume metrics uses USD as unit and all transactions completed in FLOW tokens are converted to USD.
- RaceDay NFT appears to have the highest sales volume on Flow since January 1st, 2022, in comparison to the other Flow NFT Sports NFT collections nWay - Olympics and the Football Club.
- As of October 24th, 2022, the total sales volume of RaceDay, nWay - Olympics, and the Football Club was 2.39M, 462.91k, and 512k, respectively.
- RaceDay NFT's cumulative sales volume in USD was surpassed by nWay - Olympics from February to April 2022. However, beginning in mid-April 2022, RaceDay NFT sales volume increased and has since outperformed and surpassed nWay - Olympics and Football Club NFT collections.
- Looking at sales volume in USD by week and month, it is clear that RaceDay NFT is the Sports NFT collection with the highest sales volume for the majority of the weeks and months among the three NFT collections.
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- Surprisingly, despite having the highest sales volume since January 1st, 2022, RaceDay NFT has the lowest buyers among NFT Sport Collections on Flow.
- RaceDay, nWay - Olympics, and the Football Club have 921, 3.917k, and 10.301k buyers as of October 24th, 2022, respectively.
- The Football Club has the highest buyer count amongst the 3 NFT collections.
- In comparison to the other two NFT collections, RaceDay NFT has the highest average sales volume per buyer.
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- Similar to the number of buyers, the RaceDay NFT collection has the fewest sales transactions when compared to the other two NFT collections.
- As of October 24th, 2022, the sale transaction count for RaceDay, nWay - Olympics, and the Football Club is 2.833k, 16.29k, and 20.348k, respectively.
- We can see that since the middle of March 2022, the Football Club's sales transactions have increased and it now has the lion's share of the market in terms of sales transactions across the two NFT collections.
- With the highest sales volume but the fewest sales transactions, RaceDay must have the highest average sales volume per sales transaction.
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- What are the most popular NFT collections among RaceDay NFT buyers? NBA TopShot.
- NBA TopShot is a digital collectible marketplace where basketball fans from all over the world can collect video highlights in the form of non-fungible tokens (NFTs) and interact with other fans. These NFTs are known as "Moments," and they are available in a variety of types and tiers, just like physical trading cards, each with its own digital serial number to ensure ownership and authenticity.
- Since January 2022, the most popular NFT collections among RaceDay NFT buyers have been NBA TopShot, NFL AllDay, and UFC NFT.
- Buyers of RaceDay NFT appear to be sports enthusiasts and community members of other Sports NFT communities on Flow.
Conclusion
- Among the three NFT collections (RaceDay, nWay - Olympics, Football Club), RaceDay NFT has the highest sales volume for the majority of the weeks and months.
- Surprisingly, RaceDay NFT has the fewest buyers on Flow, despite having the highest sales volume since January 1st, 2022. Among the three NFT collections, the Football Club has the most buyers.
- The RaceDay NFT collection, like the number of buyers, has the fewest sales transactions when compared to the other two NFT collections.
- RaceDay have the highest average sales volume per sales transaction or per buyer count as it has the highest sales volume but the fewest buyer count and sales transactions.
- NBA TopShot, NFL AllDay, and UFC NFT have been the most popular NFT collections among RaceDay NFT buyers since January 2022. This shows that buyers of RaceDay NFT appear to be sports fans who participate in other Sports NFT communities on Flow.
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