Introduction

• Last week, I analyzed NFT crossovers on the Optimism chain. I decided to use this topic for the Ethereum chain.
• I picked the top 10 top collections based on sales volume and analyzed crossovers.
• We want to know which collection has a better community and whether they have a community to buy other NFTs or mint new NFTs. Which collection has a royal user and …
• Also, I provided cross overs collections and user activities.

Analyzed by Hess - Reading Time Almost 10 Min

Method

IMPORTANT NOTE: ALL DATA IS IN THE LAST 180 days. I Did a mistake and calculated one chart data in the last 120 DAYS. I HAD TO EDIT MY CHART. DUE TO THAT, THE QUERRY DATE OF ONE CHART CHANGED TO OCTOBER 23.

• First I extracted the top 10 NFT collections based on total sales volume from the NFT sales table. In order to extract the collection names, I joined to DIM label table. Now I have the top 10 collections based on total sales volume in the last 180 days.
• From that table, I calculated total sales, buyers and sellers, Volume in USD, and avg volume per collection.
• After that, I analyzed the user’s breakdown based on NFTs and Volume. I counted the number of nfts that users bought from the Top collections.

select collections , count(DISTINCT(buyer_address)) as buyers, case when total_nfts = 1 then '1 NFT' when total_nfts = 2 then '2 NFTs' when total_nfts = 3 then '3 NFTs' when total_nfts = 4 then '4 NFTs' when total_nfts >= 5 then '=+ 5 NFTs' end as type

• I needed crossovers too. So I counted the number of projects per user to find how many Crossovers there were. I understood that there are some users that bought from two, three, and … collections.
• In order to find community and unusual activities, I analyzed each type of user separately.
• The last thing I did was Mint activities. I extracted Mint sales from the NFT mint table and joined DIM labels to filter NFT labels. I Had users of each collection. I looked up the NFT MINT table and joined my previous findings to find which NFT collection community minted more.

Transactions/Buyers and Sellers

• As I mentioned before, I filtered the top 10 collections based on total sales volume in USD in the last 180 days. Following that, The Otherside collection has the highest weekly and total shares in comparison to other collections. This collection has 63% of total sales. The weekly share of this collection decreased from 70-80% weekly to 40-45%. However, In the last week, the share of this collection increased up to 65% again. The Mutant Ape Yacht shares increased over time from 3% up to 37% in 3 months. Azuki collection sales share had a range between 5-11% over time. Meebits share dropped since August 2022 from 22% to 2%!

What is the Ethereum chain?

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization.

What is NFT?

A non-fungible token is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. 

A Summary of the most important findings

• The Otherside collection had the highest sales share among the top 10 collections in the last 180 days. The weekly share of this collection decreased from 70-80% to 40-45%. Terrafroms share increased over time in comparison to other collections. From the Top 10 collections, The Mutant Ape Yacht is in the cond place with 8% of total sales.
• The Otherside collection has the highest number of buyers and sellers. Following that, The Mutant Ape Yacht and Azuki are in the next places.
• The average weekly sales of More Loot increased significantly over time and this collection has the highest average sales volume. Terraform’s sales volume is higher than the other collections in the last 180 days.
• Terraforms sold more unique NFTs in comparison to others.
• A large group of users has bought only from one collection.
• It seems The Otherside users bought more from other collections in comparison to other communities.
• Also, The Otherside community had the highest number of new collection mints.

Full Analysis

Sales Volume in USD

• At the beginning of May, The Otherside had the highest sales volume among the top 10 collections. The weekly sales of That collection were 440M US dollars While the second place had 230M US dollars which was Terraforms collection. After June, The Otherside's sales volume dropped badly and reached 9M US dollars. During that time, The More Loot collection sales volume increased and became the top collection based on volume.

NFTs

• These charts show the sales volume of unique NFTs from the top 10 collections. For example, The Otherside collection had 37K unique NFTs in sales. The Otherside has a huge difference from other top 10 collections. The second collection is Mutant Ape yacht club with 4.5K NFTs in sales. Over time, The Otherside's total unique NFT in sales decreased from weekly 10-15K to 600-700 unique NFTs. Dotdotdots had the lowest number of Unique NFTs in sales. This collection had only 365 Unique NFTs in sales.

Users Breakdown

• Almost in most Projects or NFTs, The large group of users/Buyers or Sellers, have only one transaction. In this case, It means buyers or sellers bought or sold only 1 NFT. The second Large group of users bought or sold two NFTs. It is interesting that the third large group of users bought or sold more than 5 NFTs. The highest number of users that bought more than 5 NFTs are from The Otherside collection.

Users and Collections

• As you can see, The highest number of buyers and sellers, Bought and sold from one Collection. About 30K Buyers and 15K sellers have NFTs from one collection. There were 300 buyers that bought from more than 4 collections. I think at least half of the 300 buyers have a relationship together and buy and sell Top collections together and help collections for a higher price.

Days Of holding

• Board Ape Yacht users have the highest average days of holding NFTs from that collection. The average day of holding of that project is 49 days. The second project is More Loot with an average of 39 days. With similar days of holding, Terraforms, The Otherside, and More Loot have a similar average day of holding.

Mint

• The Otherside community has the highest number of Mint from New collections. Almost in the last 180 days, The Otherside community was in first place. After The Otherside collection, I can mention to the Azuki community that had the highest number of new collection mints.

Conclusion

• I always heard that the NFT world is dangerous for normal users especially NFTs with high prices. Because each Top collections have some whales and those whales are related to each other. One day they decide to sell their NFTs and the other day, They decide to buy from the same collection or another collection. I mentioned that There were 300 Buyers that bought NFTs from equal and more than 4 collections. In my opinion, Half of these buyers are related to each other and buy and sell from a specific Collection to control Price and gain. I think there is a relationship between The Otherside, Terraforms, and more loot community. Also, There is another relationship between Mutant and BOARD ape yacth.

THANK YOU FOR READING!

ALL CODES AND CONTENTS WERE WRITTEN BY HESS.

:bird: Twitter: @hessaminanloo

:t-rex: Discord: hess#0890

:calendar: Analyze Date: 2022/OCT/22

• The Otherside buyers and sellers have a huge difference from other collections. They have 25K unique buyers and 24K Unique sellers. When you see a weekly chart, All you see are The Otherside buyers and sellers. The second collection Mutant Ape Yacht had only 5K buyers and 5K sellers. However, I should mention that Mutant Ape yacht NFTs are much more expensive than the Otherside.

• Terraforms had the highest sales volume in the top 10 collections. 1.2B US dollars was Terraform's sales volume in the last 180 days. The Otherside collection is in second place. Based on average sales volume, More Loot has the highest average weekly sales volume with 611K US dollars. Dotdotdots is in second place based on average sales volume. It is interesting that Azuki is in last place.

• Cumulative sales volume shows Terraforms had the highest sales volume. Until September 5, The Otherside sales volume was higher than the other top collections but after September 5, Terraforms took its place. Also, I can see More Loot collections since the beginning, The sales volume increased and became third place based on sales in the last 180 days. Mutant Ape and Azuki sales volume didn’t change over time.

Because these collections are top 10 collections based on total sales volume, The large group of users spent and gained more than 10K US dollars. The Otherside has the highest number of buyers and sellers that sold and bought NFTs above 10K US dollars.

I filtered three types of buyers. Those who have bought from 2 collections, 3 collections and four collections. I can see that most of users are from The Otherside collection. Also, I can see that number of Mutant and Board Ape Yacth buyers are similar to each other.