Introduction

    In this analysis, You will read about Raceday NFT on flow. RaceDay NFT is another sports collection on flow. I went through this collection and analyzed these parameters:

    • Average Sales Volume (daily/weekly/monthly)

    • Total Sales Volume

    • Secondary Sales vs. Mint Sales

    • Daily Average Sales Price and 7-day moving average

    • Total Unique Buyers

    • Average Buyers/Day

    • Social Mentions/Shares

    • Other collections RaceDay fans are buying

    • Purchase frequency, or the distribution of tokens owned per wallet

    • Average Number of NFTs held per wallet

    • Average Purchase Price of NFTs held by RaceDay fans

    Analyzed by Hess - Reading Time Almost 12 Min.

    Method

    • The Methodology was simple. We have NFT sales on Flow tables. I used that table and filtered the Raceday nft_collection. I found that sales currency was with Flow and DappUtility. DappUtility is like stablecoins and All I needed was to calculate the Flow price and sales in USD. I extracted the Flow price from the Flow price table and joined my findings.

      case when CURRENCY = 'A.1654653399040a61.FlowToken' then price*avg_price else price end as price_usd,

    • All Data is in the last 6 months.

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    Buyer activities

    • Buyers spent an average of 24 US dollars and had an average of 3 transactions. Overtime, The average volume, and sales didn’t change too much. Only on August 11, The average sales volume increased to 63 US dollars and the average number of sales increased to 37 transactions!
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    Mint Vs. Sales

    • In the last 180 days, 80% of transactions were Mint and 19% of transactions were sales activity. Over time, The total number of mints and sales decreased. The highest activity was between May and June. Users still prefer mint RaceDay and not buying on the secondary marketplace.
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    • We can not say that RaceDay NFT had a good impression on socials. I found only 4 top tweets for RaceDay NFTs. The highest impression was Flipside's tweet that introduce the RaceDay NFT. Also, Based on Google Trends, Users didn’t search for this collection on Google. Overall, RaceDay NFT doesn’t have a high social impact.

    Social Impression

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    RaceDay Fan

    • RaceDay Fans are interested in the TopShot collection most. They have bought this collection more than any collections on Flow. The second most popular collection for Raceday fans is Allday. Over time, User tastes didn’t change and they are buying still those popular collections.
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    Users Breakdown

    • Based on the Raceday Buyers breakdown, I can see that these buyers are NFT fans. The large group of Raceday buyers had more than 5 transactions on other collections.
    • Also, These users spent more than 5$ on Raceday and more than 10$ on other collections. However, based on unique buyers, Most of them only bought from one collection.
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    Holder and Flippers

    • The below chart shows user activities that sold their Raceday NFTs over time. When the total number of sales decreases, It means fewer users are buying RaceDay NFTs. So holders can’t sell their NFTs easily. Right now, The large group of Raceday fans has 1-5 NFTs. The average number of nfts per wallet is 3.5 NFT.
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    A Summary of the most important Findings

    • In the last 6 months, Raceday had 258 Unique Buyers and 498 Unique sellers with 2610 NFT sales and 21K US dollars volume.

    • The average price of Raceday NFT is 8 US dollars. Each buyer had an average of 3 sales and spent 24 US dollars. Also, Users hold an average of 3 Raceday NFT overtime.

    • The total number of minters and mints was higher than sales.

    • Flipside Tweet had the highest impression of RaceDay NFT on Twitter.

    • RaceDay fans bought from other sports collections on Flow Like Topshot, Allday, and UFC.

    • The Large group of users had more than 5 transactions and bought Raceday NFT with above 5US dollars price.

    • Also, The large group of RaceDay Fans spent more than 10 US dollars on other collections.

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    What is RaceDay?

    RaceDay NFT is a first-of-its-kind motorsports NFT marketplace for race fans offering various collectibles - officially authenticated and verified on the Flow Blockchain.

    What is Flow Blockchain?

    Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering.

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    Full Analysis

    RaceDay Overview

    • In the last 180 days, The total number of sales decreased. After August, The daily number of sales dropped to below 10 sales. Also, Based on monthly transactions, The highest number of sales happened in May with 722 sales but the lowest number of sales was in the last two months, September and October.
    • Daily Share of Buyers and sellers had so many ups and downs. Overall, I can see that the total number of sellers each day was higher than the number of buyers. Numbers show that Raceday NFT has 2x sellers than buyers. In the NFT world, These numbers and difference are not good and shows holders are selling their NFT, and Supply and demand are not balanced. These activities impact directly NFTs prices.
    • In the last 6 months, The highest sales volume was between May and August. After that, In September dropped by about 50%. The monthly sales of Raceday NFT are 5K US dollars. Right now, until October 24, The total sales volume of RaceDay NFT is 1.6K US dollars.
    • The average price of RaceDay NFTs is 8 US dollars and the median is 3 US dollars. It is interesting that the average price of RaceDay NFTs increased when their total sales volume and number of transactions decreased.

    Conclusion

    • Based on these numbers and stats, I can conclude that the Raceday collection is not much popular. It is true that they have more than 5K US dollars each month but in the NFT world, 5K is nothing. Also, All parameters didn’t grow and decreased over time. We can not say they will be a success right now. However, Flow NFTs are based on Sports. Some Sports are more popular than others in the real world. For example, NBA has more fans in comparison to race sports. In my opinion, They need more social activities and cooperation with other collections to improve their status. For me, RaceDay collection wasn’t successfull.

    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/24