Methodology

• We define onboarded user as the user which has had their first NFT transaction within 1 hour of their firs transfer transaction, since wallets transfer required token as the first step.
• For the next activity we look at the very next transaction right after the first NFT sale for the onboarded users.

It has been said that Solana NFTs have become a powerful onboarding tool into the Solana ecosystem. Is this narrative true?

• Looking at the number, this is very true 40% of the users had their first transaction as buying an NFT within an 1 hour of their first transfer transaction.

What kinds of activities do these wallets tend to do after buying their first NFT?

• Most of the wallets either buy another NFT or transfer some tokens as their next activity.
• Very few stake tokens of mint another NFT as their next activity.

Do you think the NFT growth on Solana will spill over into Defi?

• I don't think the NFT growth on Solana will spill into Defi, given the current macro conditions, market are looking very bearish, so the NFT Growth is going to slow down before spilling into Defi.

Which NFTs have captured the most first time users of the Solana blockchain?

• Citizens by solsteads is the most popular collection to capture first time NFT buyers followed by cops game and danger valley ducks.