What is RaceDay NFT?

RaceDay NFT a first-of-its-kind motorsports NFT marketplace for race fans. The digital collections featured on RaceDayNFT will showcase unique racing collectibles from several well known Motorsports brands.

In this part, I consider all first tx of sells of each NFT as mint tx and all next txs as secondary tx. I used the average price of secondary txs as secondary price.

As you can see 79% of NFTs sold at higher than their mint price. ~18% sold at lower than their mint price and ~3% sold at same price of their mint price.

An interesting thing is NFT number 20563 Minted by $2 and the average sold price in the secondary market was $800. This shows us an unusual transaction. May be we could say it is a wash trading.

Mint price Vs. Secondary price

Below chart shows both mint price and secondary price in a chart to compare better.

x-axis shows nft_id and y-axis shows price in USD.

Volume of Sale:

Below charts show the volume of sales and average RaceDay NFTs price over time. You can set the start date, end date and timeframe (interval) as you like from the top of the page. As I said in the methodology section, the price unit is not the same in all transactions. In some transactions it was Flow and in others was stablecoins, so it is necessary for us to unify all price units (convert to USD).

As you can see:

There is an spike between Apr 18th and 23rd on volume of sales chart. The volume of sale RaceDay NFTs increased since Apr 2022 until Aug but after that is gradually decreasing.
Since Oct 11th, 2021, the total volume of RaceDay NFTs have been sold is ~$30 thousand dollars.
There is an spike between Apr 18th and 23rd on average price of NFTs chart too. The price of RaceDay NFTs is gradually increasing overtime.

buyers and sellers

Below charts show the number of unique buyers and unique sellers of RaceDay NFTs over time. You can set the start date, end date and timeframe (interval) as you like from the top of the page. To show cumulative unique buyers and sellers, I used min(block_timestamp) for ignoring frequently users.

As you can see:

at first, we have seen a decrease in both unique buyers and sellers count, and this decrease continued until end of March 2022 and from May, gradually increased.
In most days, the number of unique buyers and sellers is lower than the average number of unique buyers and sellers and 7-day moving average.
Since Oct 11th, 2021, 516 unique wallets bought RaceDay NFTs and 1008 unique wallets sold RaceDay NFTs.

Usually, if the unique sellers are much more than the buyers, shows someone or some group is buying NFT and cleaning market from the sellers. This action usually increases the floor price of NFT. In the other hand, if the unique buyers are much more than sellers could mean someone or some groups tried to dump the NFT price.

Almost always the number of sellers is more than buyers so means some people are collecting NFTs from the market. We expect this action to increase the price of RaceDay NFTs. We will see if this happened or not.

Number of Sale:

Below chart shows the number of successful sales of RaceDay NFTs over time. You can set the start date, end date and timeframe (interval) as you like from the top of the page.

As you can see:

At first, we have seen a decrease in the number of sales, and this decrease continued until mid-March 2022. From the second half of March to the middle of August, the number of sales gradually increased, but after that it has stagnated again until now.
In most days, the number of sales is lower than the average number of sales and 7-day moving average.
Since Oct 11th, 2021, 4400 NFTs of RaceDay collection have been sold.

Crossover between RaceDay buyers and other collections

In this part, we tried to find crossover between RaceDay buyers and buyers of other top collections on Flow blockchain. For this purpose, first we should find RaceDay buyers and find all buy transactions of them that happened after buying RaceDay NFTs. Then we have to determine the collection names of these purchases. Now we can find collections have the most crossover with RaceDay collection in terms of number of buys and volume of buys.

The collections are shown in the order of the number of buys by the RaceDay NFTs buyers in the left chart and the collections are shown in the order of the volume of buys by the RaceDay NFTs buyers in the right chart.

This chart shows the collections have the most crossover with RaceDay collection in terms of number of buys. As you can see, TopShot is in the first place and AllDay and UFC _NFT follow it respectively. Rarible NFT and StarlyCard are in the next places with a greater distance.

So we can say if users buy RaceDay NFTs, the most likely possibility in terms of count is that the next purchase will be from these five collections.

This chart shows the collections have the most crossover with RaceDay collection in terms of volume of buys. As you can see, MatrixWorldVoucher is in the first place and UFC _NFT, FlovatarComponent, and AllDay follow it respectively. TopShot is in the next places with a greater distance.

So we can say if users buy RaceDay NFTs, the most likely possibility in terms of volume is that the next purchase will be from these five collections.

Purchase frequency of wallet from each collection

In this part, we tried to find the average number of unique NFTs that bought by buyers of each top collection. In other words, the buyers of each collection usually buy how many unique NFTs. The reason that I say unique NFTs is ignoring some unusual behavior of NFT owners. For example, a specific NFT is transferred many times between two wallets.

For this purpose, first we find the number of Unique NFTs that bought by each wallet for each collection and then calculate the average and median of these numbers for each collection.

The left chart shows the average number of unique NFTs have been bought by buyers of each collection. The right chart show the median number of unique NFTs have been bought by buyers of each collection.

As you can see, on average, each TopShot buyer bought 49 unique NFTs from that collection. The median may give a better view. The median amount for this collection is equal to 4. So based on average value, each TopShot buyers usually bought more number of unique NFTs of a collection. But if look to median chart we can see RgueBunnies_NFT has the highest median amount. Based on this chart, the median amount for this collection is equal to 11 while the average amount of that is equal to ~22.

Number of NFTs held from each collection:

In this part, we tried to find the average number of NFTs that held by buyers of each top collection. In other words, the buyers of each collection usually hold how many NFTs.

For this purpose, we need to track the NFTs movement. each RaceDay NFT that transferred from a wallet means -1 and also, transferred to a wallet means +1. for each wallet we should sum these amount and find the average amount.

Methodology:

This dashboard contains two sections.

In the first section, we tried to give an overview of the RaceDay collection and show metrics in different timeframes that can be adjusted from the top of the page.
In the second section, an attempt has been made to compare the RaceDay collection with other collections in the Flow blockchain.

I used following filters to find all transactions related to buying and selling NFTs of RaceDay collection:

The transaction should related to RaceDay collection so nft_collection = 'A.329feb3ab062d289.RaceDay_NFT'
Transaction must done successful so tx_succeeded = TRUE
The price unit is not the same in all transactions. In some transactions it is Flow and in others is stablecoins, so it is necessary for us to unify all price units (convert to USD).
To compare mint price and secondary price I used following method:
- Consider all first transaction of sells of each NFT as mint tx
- Consider all next transactions as secondary tx.
- I used the average price of secondary transactions as secondary price.
To find crossover between RaceDay NFTs buyers and other collections, I used following method:
- Find RaceDay buyers and their buying time
- Find others buys of RaceDay buyers that the time is after the RaceDay buy.
- Count the number and sum the volume of buys of each collection.
To find the average number of unique NFTs that bought by buyers of each top collection, I used following method:
- Find the number of Unique NFTs that bought by each wallet for each collection.
- Calculate the average of these numbers for each collection.

In this dashboard, we have tried to provide the following topics:

Number of sales
Number of unique buyers and sellers
Volume of sales
Average Price of NFTs
Comparing mint price and secondary price
Find crossover between RaceDay buyers and other collections buyers.
Compare the average number of unique NFTs that bought by buyers of each top collection.
Compare the average number of NFTs that held by buyers of each top collection.

As I said, since the number of sellers is around twice of the number of buyers, it can be said that for every NFT that is sold, there are 2 buyers competing with each other. This makes us expect the price of RaceDay NFTs to increase. You can see this gradual increase in the chart.

The left chart shows the average number of NFTs held by buyers of each collection. The right chart show the median number of NFTs held by buyers of each collection.

As you can see, on average, each Seussibles buyer held ~14 NFTs from that collection. The median amount shows us 0.

If we look to median chart we can see Genies has the highest median amount. Based on this chart, the median amount for this collection is equal to 5 while the average amount of that is equal to ~11.

Conclusion:

The number of sales decreased until mid-March 2022. From the second half of March to the middle of August, gradually increased, but after that it has stagnated again until now. In most days, the number of sales is lower than the average number of sales and 7-day moving average.
Both number of unique buyers and sellers decreased until end of March 2022 but from May, gradually increased. In most days, the number of unique buyers and sellers is lower than the average number of unique buyers and sellers and 7-day moving average. Almost always the number of sellers is more than buyers so means some people are collecting NFTs from the market.
There is an spike between Apr 18th and 23rd on volume of sales chart. The volume of sale RaceDay NFTs increased since Apr 2022 until Aug but after that is gradually decreasing. Same spike seen on the average price of NFTs chart too.
79% of NFTs sold at higher than their mint price. ~18% sold at lower than their mint price and ~3% sold at same price of their mint price.
TopShot is a collection that have the most crossover with RaceDay buyers in terms of number of buy. AllDay and UFC _NFT follow it respectively. Rarible NFT and StarlyCard are in the next places with a greater distance.
MatrixWorldVoucher is a collection that have the most crossover with RaceDay buyers in terms of volume of buy. UFC _NFT, FlovatarComponent, and AllDay follow it respectively. TopShot is in the next places with a greater distance.