The Typical Minter is Seasoned: Flipside Crypto's GodMode NFT

-- Date: 9 June 2022 -- Author: mar1na (catscatscode) -- Flash Bounty: Analyze the Ethereum profile of those who minted during the first hour after launch. How many of them moved the minimum .1 ETH into their minting wallet vs. already had at least .1 ETH in that wallet? How many of them have been active in NFT purchases over the past six months? Can you construct a “typical minter” profile/profiles based on their wallet behavior?

Introduction

GodMode NFT was released by Flipside Crypto on 7 June 2022, to unite a community of prolific bounty-solving analysts on Flipside, and allow them access to unlimited earnings, learning, and exclusive perks and events.

With less than an hour left to mint at the time of this writing, almost 90% of the 1k NFTs have been claimed.

Method

We look at the minting users from the AllowList, aka the users who won the right to mint a 0.1ETH plus gas GodMode NFT in the Premint raffle.

GodMode NFT contract address is 0x903E2F5d42EE23156D548DD46bb84B7873789E44.

Data Results

How many of them moved the minimum .1 ETH into their minting wallet vs. already had at least .1 ETH in that wallet?

The majority of these users had over 0.1ETH in their wallets in the days before the mint, and continued to have at least 0.1ETH after the mint. This suggests that most minters are likely using their AllowList wallets for general purposes, and keep ETH there for transactions, gas, etc. :

Among the wallets who got sent ETH right before the mint (the day of, up until the first hour of the mint was over), they got on average 0.2 ETH, likely to cover mint price (0.1ETH) and gas fluctuations:

Most of the first-hour AllowList minters are not only seasoned users of their wallets, but also seasoned NFT owners. Almost 2/3 of them have minted at least 1 NFT before, and many of them minted way more: