Introduction

About Hyperspace

The Solana NFT marketplace ecosystem is currently fragmented and inefficient, and Hyperspace solves this issue by allowing users to directly buy and sell their assets on Hyperspace itself or other Solana NFT marketplaces at no additional fee.

About 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.

What are the questions?

• 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?

Methodology

I have created this analysis on Solana marketplaces using solana.core.fact_nft_sales

The date range is considered to be from 30 days before up until now (October 30th).

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?

Answer and Key Notes

• In the last 30 days, Hyperspace had more volume in both daily and weekly view.
• Interestingly, the number of unique purchasers and sellers was higher on Coral Cube, so I went through average SOL amount of all sales and Hyperspace average volume is a lot higher.
• So the answer is, Hyperspace has done more volume in the last 30 days

Answer and Key Notes

• The most popular collections based on volume are visible on the charts.
• As Degods have done the highest volume on Hyperspace, it is now no surprise that the average sales volume on Hyperspace was a lot higher than Coral Cube.
• But in general, the volume difference between the two marketplaces is more obvious here.
• Another case that I have gone through, is the whales distribution among purchasers. By considering whales with a $SOL volume more than 200, we can see that whales played a huge part in Hyperspace Volume.
• One specific address, 8ndi5A1AjFnfsbpzpksoFF8g1ciixVXTgf3XLEkvmNFj has spent more than 27K volume.
• But if I want to answer the question, I would say Hyperspace is a better option as there is more activity so the risk factor of not being able to sell a NFT is lower.

Answer and Key Notes

• Solana recently has announced 0% creator royalty enforcement, based on my research, the announcement has been done on October 21st, so I categorized the volume on marketplaces before and after the given date.
• As it is visible on the chart, the volume trend has been descending ever since the date.
• The trend is also descending on the unique number of purchasers and sellers