[Solana] - The Battle of the Solana NFT Aggregator

    Bounty Question


    Hyperspace and Coral Cube are the two most popular NFT aggregators on Solana. This means that they list all NFTs across different marketplaces along with allowing listings on their own marketplace. Create a dashboard comparing KPIs between Hyperspace and Coral Cube. Which marketplace has done more volume? Which collections are popular on each marketplace? Why would I use one marketplace over the other? Are there any noticeable market trends between the marketplaces, especially after Solana marketplaces moved to a 0% creator royalty?

    Hyperspace


    > Hyperspace is a marketplace aggregator for Solana NFTs, providing user-friendly discovery and shopping across Solana marketplaces. We want to make buying and selling NFTs easy. Hyperspace aggregation allows buyers and sellers to access full liquidity from one unified frontend, at no additional cost. For buyers, seeing full liquidity allows you to access the cheapest prices for any collection or subset of tokens. For sellers, you can continue to list anywhere and now have your listings appear in more than one place.

    Coral Cube


    > CoralCube is an NFT marketplace and aggregator that aims to highlight three columns of web3 in the context of NFTs: -Easy and smooth access to the digital content on the Solana blockchain and interactions with on-chain NFT marketplaces. -Transparency wrt NFT ownership and credentials -Community owned/powered platforms and products. These three will ultimately lower the technological and economical barriers for new players to enter the competition and minimize the emergence of monopolies.

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    Methodology


    • In the first step, a general review was done on 9 parameters. These parameters include: Number of Sales, Number of Buyers, Number of Sellers, Number of NFTs, Sales Volume (SOL), Median SOL Volume per Sale, Average SOL Volume per Sale, Minimum SOL Volume per Sale and Maximum SOL Volume per Sale.


    • In the second step, 5 main parameters (number of sales, number of buyers, number of sellers, number of NFTs and sales volume) in these two marketplaces were compared with the total NFT market of the Solana network in order to determine the share of each of these marketplaces from the total (in terms of What was the percentage)


    • In the third step, 4 sub-parameters (Median SOL Volume per Sale, Average SOL Volume per Sale, Minimum SOL Volume per Sale and Maximum SOL Volume per Sale) in these two marketplaces were compared with the entire Solana network NFT market to determine these 4 parameters Among all the sales in these two marketplaces and the entire NFT market, how has the Solana network been?


    • In the fourth step, it was time to check the daily status of the parameters. Cumulative charts were also drawn for the 5 main parameters, so that the changes of each of these parameters can be observed in a better way. The four sub-parameters mentioned above along with 6 other sub-parameters (Average Sales per Buyer, Average Sales per Seller, Average Purchases Volume (SOL) per Buyer, Average Sales Volume (SOL) per Seller, Average Sales per NFT and Average Sales Volume (SOL) per NFT) were also calculated daily.


    • In the fifth step, common buyers between both marketplaces were identified. For each of these joint buyers; The number of purchases, the number of NFTs purchased and the purchase volume in each of the marketplaces were obtained and its graph was drawn.


    • In the sixth step, common sellers between both marketplaces were identified. For each of these joint sellers; The number of sales, the number of NFTs sold and the sales volume in each of the marketplaces were obtained and its graph was drawn.


    • In the seventh step, in order to have a better view of how each of these two marketplaces started, the main parameters for these two marketplaces from the first days of their launch were compared. For this purpose, from the first day of the launch of each marketplace, the days were numbered in ascending order. (using the row_number feature) then the parameters of the two marketplaces were compared on the same number of days. In this way, the launch date of the marketplaces became ineffective and the possibility of comparing the initial days of these two marketplaces was provided.


    • In the eighth step, the best collections of each of these marketplaces (in terms of the number of sales) were determined. In the diagrams, first a general situation of the parameters of these top 10 collections was drawn and then a separate diagram was drawn for each parameter. (Note: What is important here is that the metadata table of Solana's NFTs does not include all the collections. It is clear that the important and prominent collections of this network are present in this table, but it should be noted that in some cases the results obtained can include a certain percentage of error)
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    Overview


    In the main parameters, it is an absolute superiority with the Coral Cube. But this is not far off. If we pay attention to the date of the first data of these two marketplaces, Coral Cube started on February 2nd and Hyperspace started on September 11th. (about 220 days difference!). But the sub-parameters of this influence destroy the days and are good parameters for external comparisons.


    Coral Cube has sold 37 times more than Hyperspace.

    The number of unique buyers of Coral Cube is 11.4 times that of Hyperspace.

    The number of unique sellers of Coral Cube is 13.9 times that of Hyperspace.

    NFTs sold on Coral Cube are 37.4 times that of Hyperspace.

    The sales volume of NFTs in Coral Cube is 5.6 times that of Hyperspace.


    The above numbers show that despite the fact that Hyperspace's sales are less than three percent of Coral Cube's sales, NFTs' sales volume is around 18 percent of Moral Cube's sales volume. This means that sales in hyperspace have been significantly higher in terms of SOL value. This is well illustrated in Donati's Average SOL Volume per Sale chart. The average sales volume per sale is 0.8 SOL in Coral Cube and 5.24 SOL in Hyperspace. (more than 6.5 times)


    The highest and lowest volume of sales per sale in both marketplaces are very close. In the lowest volume of sales (with 0.001 SOL) and in the highest with a difference of about 40 SOL, the highest volume of sales is related to hyperspace. (with 369.4 SOL)

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    Hyperspace and Coral Cube 🆚 Whole Solana NFT Market


    Hyperspace's very good start in these first 40 days has made its average sales volume more than 2.5 times the average sales volume of the entire Solana NFT market. While the average sales volume of Coral Cube is around 0.4 of the average sales volume in the entire Solana NFT market.


    In the highest volume of sales, but the record 7033 SOL for buying an NFT is a number that the highest volume of sales in one sale on these two marketplaces cannot compete with. The mentioned sales volume is 19 times the highest sales in Hyperspace and 21 times the highest sales in Coral Cube!


    More than 6% of all buyers and sellers of the Solana Marketplace have bought at least one NFT from Coral Cube. While in the case of Hyperspace, it is about half a percent.


    Buyers on Coral Cube have bought more than 5.1% of the unique NFTs available on Solana's NFT market. While in the case of Hyperspace, this amount is less than 0.15%.


    About 2.8% of the sales in Solana's NFT market are related to Coral Cube. This amount is less than 0.08% in the case of Hyperspace!


    1.1% of Solana's NFT market sales volume is related to Coral Cube. While 0.2% of Solana's NFT market sales volume is related to Hyperspace


    Daily Overview


    Three peaks can be seen in the number of daily sales in Coral Cube, which occurred in mid-June, late July and mid-October, respectively. If we consider the peak of the first peak as a cross-section (considering that it is not wide compared to the entire peak), by passing one peak and reaching the next, we see an increase in the height of the peak. (The reason for considering the third peak is that it was reasonable compared to the width of the peak)


    No clear trends can be observed in the number of daily sales in hyperspace. Although it seems that we are witnessing a very broad peak in mid-October, but overall, the selling trend in this marketplace has more time to give us the ability to talk more. Apparently, it seems that in the days leading up to the current date, we are witnessing a decrease in the number of daily sales on this marketplace.


    The trend of the daily sales volume in Coral Cube does not follow the trend of the number of its sales. There are actually two peaks here. A broad peak in the months of May and June and a small peak in October. In fact, the second peak in the number of sales (which was in July) could not leave an impact on the volume of sales in July. But in the broad peak of May and June, there are the first three days in terms of sales volume.


    The largest daily sales volume was on May 24, when 49.5k SOL was paid to buy NFTs on the CoralCube Marketplace. The second and third place are for June 5 and May 4, respectively.


    The top 7 days in terms of sales volume belong to Coral Cube.


    The daily charts of the number of buyers, the number of sellers and the number of NFTs have very similar trends to the trends of the daily sales chart.


    The best day for hyperspace is October 9. On this day, 1072 NFTs were sold in 1114 sales via 612 sellers to 633 buyers for 9.488k SOL.


    In terms of average sales volume per sale, Hyperspace has been able to record very high numbers in its early days. The daily trend of this parameter in hyperspace has been upward from the beginning to the middle of October. The highest daily average in Hyperspace was 12.32 SOL per sale. In the case of Coral Cube, the best days in terms of this parameter were in May and June. On May 24, each NFT sold was worth an average of 52.6 SOL.


    Interestingly, on April 13, the lowest amount paid for an NFT was over 5 SOL. But only two NFTs were sold on this day!


    The daily chart of the highest SOL paid for an NFT is a good indication of how much higher average sales have been in hyperspace.


    The average buying and selling of buyers and sellers is very close to each other in both marketplaces (around 2). But during Coral Cube's peak days, averages reached more than 4 per day.


    The average number of sales of NFTs per day is generally one, but in recent days, a slight increase in this amount can be seen in both marketplaces. (in both marketplaces)


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    Common Sellers / Common Buyers


    In these two marketplaces:

    • There are 1450 common sellers.
    • There are 3528 common buyers.

    Common sellers have generally sold less than 200 SOL on Coral Cube and less than 100 SOL on Hyperspace.


    The number of common sellers who have more than 300 SOL Sales on Coral Cube is 6 and on Hyperspace is 2.


    30 common sellers have more than 100 Sales on Coral Cube. While only 3 sellers on Hyperspace have sold more than 100!


    Only 5 common sellers have sold more than 50 unique NFTs on hyperspace. While 80 sellers have such a situation on Coral Cube.


    Common buyers generally bought less than 200 SOL on both marketplaces.


    The number of common buyers who bought more than 300 SOL Sales in Coral Cube is 13 and 12 in Hyperspace.


    182 common buyers have made more than 100 purchases on Coral Cube. While only 2 buyers have made more than 100 purchases on Hyperspace!


    Only 7 common buyers have bought more than 50 unique NFTs on Hyperspace. While on Coral Cube, 182 buyers have such a situation.

    First Days of Launch


    The charts above show how different the early days of these two marketplaces were. The graphs show how explosive Hyperspace started in the early days, while Coral Cube shows growth in its trends a month after its launch.


    In recent days, at the end of this 40-day period, the growth of Coral Cube and the decline of Hyperspace have been such that these two are completely in a competitive position.

    Top Collections


    There are no shared collections among the top 10 collections of each marketplace.


    || Hyperspace Collections ||

    In terms of number of sales: DeGods ---> ABC ---> Nekozuma NFT

    In terms of sales volume: Degods ---> ABC ---> Blockasset Legends: Muhammad Ali

    In terms of NFT count: Blockasset Legends: Muhammad Ali ---> Sentries ---> ABC

    In terms of number of sellers: ABC ---> DeGods ---> Blockasset Legends: Wayne Rooney & Nekozuma NFT

    In terms of number of buyers: Blockasset Legends: Muhammad Ali ---> ABC ---> Sentries & DeGods


    || Coral Cube Collections ||

    In terms of sales: Great Goats ---> King of Da Street ---> Contra Chimps In terms of sales volume: Great Goats ---> King of Da Street ---> Oak Paradise In terms of number of NFTs: Great Goats ---> King of Da Street ---> Oak Paradise In terms of number of sellers: Great Goats ---> King of Da Street ---> Oak Paradise In terms of number of buyers: Great Goats ---> King of Da Street ---> Oak Paradise

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