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    Over-The-Counter activity of NFTs on Solana

    The analysis of OTC trading on the Solana blockchain reveals key insights into the NFT market. With $31.1 million worth of $SOL traded, OTC deals demonstrate significant trading volume, indicating their importance in the ecosystem. While token swapping dominates OTC transactions, regular NFT trading also plays a significant role. Collections like "Degods" and "Y00ts" are popular choices among OTC traders, and the value of tokens traded in OTC deals surpasses that of regular marketplace transactions. Interestingly, OTC dealers are actively involved in marketplace trading, showcasing their preference for both avenues. These findings highlight the dynamic and thriving nature of the Solana NFT market, where OTC trading complements and enriches the overall trading landscape.

    ✨Introduction
    🛠 Methodology

    Welcome to the Solana NFT OTC Activity Dashboard! This dashboard provides insights into the over-the-counter (OTC) trading activity of non-fungible tokens (NFTs) on the Solana blockchain. While marketplaces like Tensor and Magic Eden capture a significant portion of NFT trading volume, a considerable amount of trading occurs through private OTC deals. This dashboard aims to shed light on the OTC landscape by tracking key metrics and trends.

    The aims of dashboard:

    • Trading Volume: Explore the volume of NFT trades occurring through OTC deals, highlighting the magnitude and growth of OTC activity on Solana.

    • Deal Structure: Gain an understanding of how OTC deals are structured, whether they involve exchanges of NFTs for tokens, NFTs for NFTs, or a combination of both, revealing the preferences and strategies of market participants.

    • Popular Collections: Identify the NFT collections that are most frequently traded in OTC deals, providing valuable information on the preferences and market demand for specific projects.

    • Value Comparison: Compare the value of tokens traded in OTC deals versus those traded on public marketplaces, enabling an assessment of the premium or discounts associated with OTC transactions.

    • User Analysis: Examine the involvement of users engaged in marketplace trading in OTC activity. Understand how their activity levels and trading behaviors differ from the average user, uncovering insights into the dynamics between public marketplaces and private OTC trading.

    To create this dashboard, the following methodology was implemented:

    • Data Collection: The solana.core.fact_transactions table was utilized, specifically filtering transactions where LOG_MESSAGES[1] ILIKE any ('%TransferEscrowNft', '%TransferEscrowPNft'). This allowed us to identify transactions associated with OTC NFT trading deals.

    • Escrow Transactions: Transactions involving escrow were identified. Escrow refers to a transaction that should only proceed through a trusted intermediary. It is crucial to conduct OTC trades through an escrow/guarantor for added security and trust.

    • Guarantor Role: Guarantors, also known as escrow providers, play a vital role in OTC transactions. They hold funds and ensure a fair outcome. If the buyer is satisfied with the transaction, funds are transferred to the seller. If not, the funds are returned to the buyer.

    • Data Integration: Data from the Solana.dim_label and NFT_sales tables was combined with the OTC transaction data. This integration allowed for the analysis of traded collections in OTC markets and a comparison with NFT marketplaces.

    • Analysis Time Period: The analysis covers a time period of the past 6 months (26 weeks) on a weekly basis. However, users have the flexibility to change the time period to daily or monthly and extend the calculation duration using the parameter fields provided.

    • Custom Collection Comparison: Users can input their preferred collection in the relevant parameter field to compare sales in OTC markets versus regular marketplaces for their specific collection.

    By following this methodology, the dashboard provides insights into OTC NFT trading on Solana, including the identification of escrow transactions, analysis of traded collections, and the ability to compare sales between OTC markets and traditional NFT marketplaces.