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Compare and contrast the NFT market and ecosystem across at least three different chains (you can do more if you wish, but there must be at least three included.) Explain how the various chains differ in terms of metrics such as:
- Total Sales
- Total Unique Buyers
- Total Volume
- Average Sales/Day
- Average Buyers/Day
- Average Sales Price/Day
Methodology
- Get NFT sales data from NFT table of each chain
- In this work, we will provide that in 4 chains
- Ethereum
- Flow
- Solana
- Algorand
- We analyze obtained data to answer the question as will be presented
- We find overall data of each chain
- We find data in daily basis and compare with price of Native tokens
- We provide analysis of data since 2022-04-20, because it is the first day we have data of NFT sale in Flow
NFT sale in Ethereum
Sale
Total NFT sale in Ethereum is 10.74M pieces. In daily basis, it keeps fluctuating around 40k - 90k, higher or lower on some days. However, it has a downtrend since June. We can notice sharp drop in around 12 May and 13 Jun, which correspond to the drop of ETH price at the same period.
Buyers
Total distinct buyers in Ethereum is 0.798M. In daily basis, we can see obvious downtrend, it keeps lowering from 30k in late April, and drops to around 20k in these days. Like in Sale graph, We can notice sharp drop corresponding to the drop of ETH price at the same period.
Volume
Total volume in Ethereum is 12.04B USD. In late April, daily volume is around 200M USD. There is a spike right at beginning of May, to around 550M USD. Then the trend dramatically drops, at the same time as ETH drop, and is very stable around 50M USD until now.
NFT sale in Algorand
Sale
Total NFT sale in Algorand is 255k pieces. In daily basis, the trend is quite stable around 1k. There are spikes occasionally from 3k to 10k, the highest one in late May.
Buyers
Total distinct buyers in Algorand is 10.47k. In daily basis, trend is similar to that of Sale, it is stable around 400, and there are spikes occasionally.
Volume
Total volume in Algorand is 16.57M USD. Trend is quite insignificant. It moves up and down from 50k to 250k randomly.
NFT sale in Solana
Sale
Total NFT sale in Solana is 9.45M pieces. In daily basis, we can see significant uptrend from 30k to around 100k, since April to September. Moreover, there is a very high spike at beginning of September, to around 250k.
Buyers
Total distinct buyers in Solana is 417k. In daily basis, it has no significant trend. It moves around 10k - 25k randomly from time to time. Meanwhile, we can see some downtrend from late May to late August.
Volume
Total volume in Solana is 861M USD. Trend is quite in contrast to that of Sale, it keeps dropping from April to July, from 20M to 2M USD. And it started to rise up to 4M lately. The trend is quite similar to SOL price.
NFT sale in Flow
Sale
Total NFT sale in Flow is 3.52M pieces. In daily basis, There is a downtrend from April to June, from around 40k to 15k. After that, the trend fluctuates randomly around 20k. The whole trend is quite similar to Flow price.
Buyers
Total distinct buyers in Flow is 86.8k. In daily basis, the trend is similar to Sale and Flow price, drop from 10k to 2k, since April to June. Then it is fluctuate around 4k. However there are more obvious spikes in some days across August, hypothetically caused by popular NFT releases.
Volume
Total volume in Flow is 78.9M USD. Trend is very similar to that of previous 2 matrices and Flow price. It drops from 1M to 200k, since April to June. Fluctuates around 500k, and there are spikes across August.
Comparison
Since 2022-04-20
Sale
- Ethereum has the highest sale with 10.74M sales, 60.8% of total sales in 4 chains
- Runner up is Solana with 9.45M, 31.8%.
- 3rd place is Flow with 3.51M, 6.62%
- 4th place is Algorand 255k, 1.06% only.
Unique buyers
- Ethereum has the highest unique buyers with 798k buyers, 60.8% of total buyers in 4 chains
- Runner up is Solana with 417k, 39.4%.
- 3rd place is Flow with 86.8k, 14.7%
- 4th place is Algorand 10.5k, 0.798%
Volume
- Ethereum has the highest volume with 1.2B USD, 92.6% of total volume in 4 chains
- Runner up is Solana with 861M, 6.63%.
- 3rd place is Flow with 78.9M, 0.607%
- 4th place is Algorand 16.57M, 0.127%
Conclusion
Overall
- Ethereum gains majority portion in every aspects, especially Volume.
- Algorand has very low value in every parameter.
- We are interested in 2 more variables, Sale per user and Volume per user.
- We found that Ethereum has outstandingly highest Volume per user, 15k USD per user, since price of NFTs would be high, and Ethereum users would be rich
- However, Flow has highest Sale per user, with 40 NFTs per user. It shows that Flow is popular chain to buy and collect NFTs.
Daily Basis
- In Ethereum, Sale and Buyers trend is very similar to ETH price, while Volume is similar in some period.
- In Solana, We can see uptrend of Sale, while see stable trend of Buyers. Meanwhile, there is downtrend of Volume, which corresponds to SOL price.
- In Flow, all 3 matrices follow Flow price with different magnitude.
- In Algorand, all 3 matrices fluctuate at stable mean and do not correspond to ALGO price.
