RaceDay NFTs

How does Speedway Motorsports RaceDay NFTs stack up to sports NFT collections in the FLOW ecosystem? What other projects are RaceDay fans buying?

Questions

How does Speedway Motorsports RaceDay NFTs stack up to sports NFT collections in the FLOW ecosystem? What other projects are RaceDay fans buying?

Create a dashboard that shows off a high-level project overview of RaceDAY. Include at least these metrics, along with any others you find notable or interesting:

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

In the second part of this bounty, look for cross-project comparative metrics like the following:

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

BONUS: Find free redemption buyers to future buyers, i.e., were first time purchasers someone that claimed a free NFT previously, or, was their first experience with RaceDay an actual purchase.

Post your dashboard on Twitter and tag @flipsidecrypto and any relevant accounts!

Method

In the first section - RaceDay NFT statistics

We collect sale data from the table flow.core.ez_nft_sales
We filter only the Tx that has nft_collection like '%RaceDay%'
We analyze data and present information to answer all questions

In the second section - RaceDay fans in other collections

We collect sale data from the table flow.core.ez_nft_sales
We collect all wallets of RaceDay fans; wallets that have ever bought RaceDay NFTs
We collect all sales that bought by these wallets
We analyze data and present information to answer all questions
As there are many questions, we will explain deeper method in the main section

Overall Statistics

Many numbers below are overall statistics of RaceDay NFTs sales including

Total Sale
Total Volume (USD)
Unique Buyers
Unique Sellers
and the same matrices above with Average per day

Daily, Weekly, and Monthly Sale Count / Volume (USD) / Unique Buyers and Sellers

We plot Daily, Weekly, and Monthly Sale Count / Volume (USD) / Unique Buyers and Sellers below

From monthly graphs, we can notice that

There is a good start of Sale count in the first month, Oct 2021, with 627 sales
After that, it started to decrease until March 2022, with only 33 sales
In April 2022, the Sales started to rise to 505 sales
- Moreover, this month, the USD Volume unprecedentedly surged to 5.3k USD
- where Cumulative Volume before this month is only 610 USD
- In buyers and sellers graph, there are a lot of Sellers over Buyers (154 over 31), which means few buyers were buying from many sellers
After April 2022, Sale and Volume keep dropping until now
we can look at Daily and Weekly graphs for better granularity

Daily Average Sales Price and 7-day moving average

From Nov 2021 to Mar 2022, 7-day MA is very low, less than 1 USD
Except in the first day, 7-day MA never reached 10 USD until April 2022
- This increase in price contributed Sale and Volume discussed in the above section
After that, it keep fluctuating around 10 USD, with the highest in mid September 2022 with 25 USD
and it keeps lowering until now to 10 USD

Second Section - RaceDay Fans in Other Collections

Other collections RaceDay fans are buying

From the right pie chart, we can see that

From 516 RaceDay fans, 187 users bought only RaceDay NFTs
Other 329 users also bought NFTs from other collections, as we will analyze these users further

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We collect all sales that bought by RaceDay fans and group by collection they bought

We actually include RaceDay NFTs in these graphs for comparison, we can see that

The most popular collection of RaceDay Fans is TopShot, both in term of Sales count (55.8%, 47k sales) and Volume (61.5%, 1.18M USD)
AllDay and UFC_NFT are the 2nd and the 3rd consecutively, but not in very large fraction like the first place
RaceDay is in the 4th place in term of sale count, and in 7th place in term of Volume

Average Number of NFTs held per wallet /

Average Purchase Price of NFTs held by RaceDay fans

We collect all sales that bought by RaceDay fans, if that NFT is not sold later, it means that NFT is being held

In the right graphs, we plot NFTs held per wallet and Average Purchase Price separately

NFTs held per wallet
- most of RaceDay fans hold 1-10 pieces, with 116 users
- least of RaceDay fans hold >1000 pieces, with 11 users
  
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Average Purchase Price
- most of RaceDay fans hold NFTs with Average Purchase Price of 1-10 USD, with 115 users
- least of RaceDay fans hold NFTs with Average Purchase Price of >100 USD, with 8 users

We present these 2 matrices altogether in the lower scattered graph,

x-axis is number of NFTs held per wallet
y-axis is Average Purchase Price of NFTs held
Big purple circle says most of RaceDay Fans hold 10-100 NFTs from other collections with Avg Purchase Price of 1-10 USD

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users who hold 1 NFT mostly bought from Avg price of <=1 USD
users who hold 2-10 NFTs mostly bought from Avg price of <=1 USD
users who hold 10-100 NFTs mostly bought from Avg price of 1-10 USD
users who hold 100-1000 NFTs mostly bought from Avg price of 10-100 USD
users who hold >1000 NFTs bought from Avg price of 10-100 USD only

Conclusions

This dashboard has been tweeted here

First Section

RaceDay NFT has
- Total Sale of 4400, 13.09 sales/day in avg
- Total Volume of 26.2k USD, 77.9 USD/day in avg
- Unique buyers of 516 Buyers, 1.536 Buyers/day in avg
- Unique sellers of 1008 Sellers, 3 Sellers/day in avg
Sale of RaceDay NFT started in Oct 2021, volume was very low until April 2022, Volume started to rise tremendously to 5.3k USD that month, and keep dropping until now, to 1.9k USD last month
Mint vs Secondary Sales, 81.9%, 19.9k, are from Mint Sales
- while 18.1%, 4.4k, are from Secondary Sales
- This explain why number of unique sellers (1008 users) is more than that of buyers (516 users), because some users bought only from Mint Sales
From Nov 2021 to Mar 2022, 7-day MA of Price is very low, less than 1 USD
- MA reached 10 USD in April 2022
- After that, it keep fluctuating around 10 USD, with the highest in mid September 2022 with 25 USD
- and it keeps lowering until now to 10 USD
RaceDay has 188 social mentions, mostly from reddit (100 mentions)

Second Section

From 516 RaceDay fans, 187 users bought only RaceDay NFTs, other 329 users bought NFTs from other collections
Most of RaceDay fans mostly bought TopShot NFTs
- with 55.8% (47k pieces) in term of sales
- 61.5% (1.18M USD) in term of volume
- RaceDay is in the 4th place in term of sale count (4.4k pieces), and in 7th place in term of Volume (26.18k USD)
- The 2nd and 3rd place are AllDay and UFC, but they tend to gain fraction over TopShot over time
Most of RaceDay fans buy other NFTs 2-10 times a week, 92 users
- Least of RaceDay fans buy other NFTs only once, 31 users
Most of RaceDay fans are holding other NFTs 10-100 pieces, 116 users
- Least of RaceDay fans buy other NFTs >1000 pieces, 11 users
Most of RaceDay fans are holding other NFTs with Avg Price of 1-10 USD, 115 users
- Least of RaceDay fans buy other NFTs with Avg Price of >100 USD, 8 users

First Section - RaceDay NFTs Statistics

Other collections RaceDay fans are buying - Weekly Basis

In weekly basis, we can se that

TopShot has high sales and volume all the time, especially, before Aug 2021
However, TopShot tends to lose fraction over time as other NFT collections keep growing up
Our 2nd and 3rd place, AllDay and UFC_NFT have appeared since Feb 2022, which are very new compared to TopShot
- Thus, these 2 would gain higher fraction over Topshot in the future

Purchase Frequency

We collect all sales that bought by RaceDay fans, find first date that they bought NFT, find total NFTs they bought,

we find average frequency by total NFTs bought / (current date - first date)

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In this graph, we do not include sale of RaceDay NFTs, as we can notice,

1st to 3rd place are very close
- Most of RaceDay fans buy other NFTs 2-10 times a week, with 92 users
- runner up is once a month - once a week, with 87 users
- and 3rd place is less than once a month, with 84 users
4th and the last place are also very close
- 35 users buy more than 10 times a week
- 31 users buy only once

Social Mention

We find social mention by searching RaceDayNFT in the website

the result is depicted in the right pictures

There are 188 social mentions
most of them are from Reddit, with 100 mentions, from 14 users
followed by Twitter, with 44 mentions, from 25 users
VKontakte, with 30 mentions, 21 users
and 5 mentions from Web, from 5 users

Introduction

What is RaceDay NFT? source

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? source

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. Flow also has a native cryptocurrency that trades under the symbol FLOW.

Secondary Sales vs. Mint Sales

We plot daily sales of Secondary sales vs Mint sales below, and total in the right

we can see that

81.9%, 19.9k, are from Mint Sales
- while 18.1%, 4.4k, are from Secondary Sales
This explain why number of unique sellers (1008 users) is more than that of buyers (516 users)
- because some users bought only from Mint Sales
In daily basis, there are spikes of Mint Sales occasionally, around 500-1800 sales
- while Secondary sales never reach 300 sales