Findings

• The daily minting trend of both ‘BASEd and Optimistic’ & ‘Base, Introduced’ NFTs were similar together. In both collections the number of mints increased on the 2nd day of publishing and reached its maximum number on the 26th Feb. showing that in the last 24 hours of minting many users rushed into the mint!

• The number of 'Base, Introduced' minters was more than twice the number of ‘BASEd and Optimistic’ minters. Which shows the Ethereum version of Base chain NFT was more popularity than the Optimism version it. However, this is not surprising cause generally Ethereum has much more active wallets and also NFT traders than Optimism.

• Unlike the daily minting trend, the minting fee charts of these two NFTs are different from each other, as we see the most amount of fee payments for ‘BASEd and Optimistic’ in 1 day was $25.14k paid on 23 Feb, which was the starting day of minting, but in ‘Base, Introduced’ , the most volume of minting fees was paid on the last 24 hours of minting on 26 Feb.

  Generally the number of mints and the volume of minting fee payments have more correlation in the 'Base, Introduced’ collection than the 'BASEd and Optimistic' collection.

• Comparing the number of mints per day, the number of ‘Base, Introduced’ NFTs minted is 14.2k greater than the number of ‘BASEd and Optimistic’ NFTs minted each day.

Findings

• If we consider the wallets which made their first transaction in 2023 as the newly created wallets, we see the share of new Optimism & Ethereum wallets in total minters of these NFTs is almost equal! Around 35% of minters in both the 'BASEd and Optimistic' & 'Base, Introduced' collections are newly created wallets.
• In both Ethereum and Optimism chains, the highest share of these collections minters belong to wallets that were created in 2022. (Optimism chain was launched in 2022 so that's why there are no 2021 or earlier wallets on it!)

Findings

• The trend of ‘BASEd and Optimistic’ & ‘Base, Introduced’ NFTs trades are different from each other.

  ‘BASEd and Optimistic’ trades on secondary market is increasing in recent days after having steady days in the 1st week of March. Also, the average number of unique buyers per day is rising with a fast speed, while ‘Base, Introduced’ collection’s hype has decreased since the beginning of March on Ethereum NFT marketplaces.

  Despite the decrease in overall trading activity, the 'Base, Introduced' collection still has a much higher number of daily trades compared to the 'BASEd and Optimistic' collection.

• The number of wallets buying 'Base, Introduced' NFTs are almost 10x more than the wallets buying ‘BASEd and Optimistic’ NFTs, also the overall number of trades have this situation too, and if we look at the total amount of trading volume we see 5x money is been paid for buying 'Base, Introduced' NFTs compared with ‘BASEd and Optimistic’ collection NFTs.

• A ‘BASEd and Optimistic’ NFT is a much cheaper option to buy than 'Base, Introduced'! As we see averagely, each 'Baese, Introduced' NFT is 33x more expensive than a 'BASEd and Optimistic' NFT!

Findings

• There are 74.25K wallets which have minted both of the 'BASEd and Optimistic' & 'Base, Introduced' collections in Optimism and Ethereum. This group of wallets are 11.9% of the total wallets which have minted these collections. 60.6% of these wallets minted the 'BASEd and Optimistic' before the 'Base, Introduced' NFT.

  Maybe this is because of the lower transaction fees of the Optimism chain compared with Ethereum and The both collection minters minted the 'BASEd and Optimistic' immediately but waited for lower gas prices on Ethereum to mint 'Base, Introduced' NFT!

• Comparing both collection minters' activity on each chain, we see these wallets are more active on Optimism than Ethereum! On Optimism, these wallets have 9 more transactions than they do on Ethereum on average!

Findings

• Only 563 users who have minted 'BASEd and Optimistic' NFT have interactions with CoinBase exchange (These wallets have sent or received their assets to/from CoinBase).

  Instead we see a higher number of CoinBase customers among 'Base, Introduced' minter wallets.

  27.7% of the users who have minted this collection have used the Coinbase exchange at least once!

How did the minting process go?

Have new wallets minted Base NFTs?

Any both collections minters?

How are these collections trading on secondary markets?

How many of the minters sold their NFTs?

Findings

• Looks like most of the minters are not interested in selling their NFTs, either in the 'BASEd and Optimistic' or in the 'Base, Introduced' collection, however a larger group of the 'Base, Introduced' minters have sold their NFTs compared to the 'BASEd and Optimistic' minters. This can be because of the higher trade volume of 'Base, Introduced' collection compared with 'BASEd and Optimistic'.

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What about CoinBase exchange customers?! Have they minted these collections?

Have the minters tested the Base testnet too?

Findings

• Looks like NFT minting is more preferred by the group of wallets we are tracking here. This is because only 21% of the Base related NFT collections minters have interacted with the Base testnet.
• 16.39K users are really excited about the Base testnet launch! This group of wallets have minted both the 'BASEd and Optimistic' & 'Base, Introduced' collections and have used Base testnet too! Each wallet of this group has done 3 transactions on Base testnet on average.

Summery & Conclusion

• By tracking the minting process of 'BASEd and Optimistic' & 'Base, Introduced' collections, we found some similarities in their trend of minting:

  In both collections the number of mints increased on the 2nd day of publishing and reached its maximum number on the 26th Feb, showing that in the last 24 hours of minting many users rushed into the mint. Also, in both collections around 35% of minters were the wallets created in 2023. The highest share of these collections minters belongs to wallets that were created in 2022. And finally in both collections less than 2% of the minters have sold their NFTs.

• Unlike the daily minting trend, the minting fee charts of these two NFTs are different from each other. The most amount of fee payments for ‘BASEd and Optimistic’ in 1 day was $25.14k paid on 23 Feb, which was the starting day of minting. However, in ‘Base, Introduced’ , the most volume of minting fees was paid in the last 24 hours of minting on 26 Feb. It seems the last hours rush in 'Base, Introduced' minting increased the Ethereum gas fees a lot, while Optimism did not affected so much at the same time, a positive factor for Optimism blockchain!

• There are 74.25K wallets which have minted both of the 'BASEd and Optimistic' & 'Base, Introduced' collections. These wallets are more active on Optimism than Ethereum, On Optimism, these wallets have 9 more transactions than they do on Ethereum on average!

  60.6% of these wallets minted the 'BASEd and Optimistic' before the 'Base, Introduced' NFT.

  Maybe this is because of the lower transaction fees of the Optimism chain compared with Ethereum and The both collection minters minted the 'BASEd and Optimistic' immediately but waited for lower gas prices on Ethereum to mint 'Base, Introduced' NFT!

• The number of 'BASEd and Optimistic' trades on secondary markets has increased in recent days after having steady days during the first week of March. Also, the average number of unique buyers per day is rising with a fast speed, while ‘Base, Introduced’ collection’s hype has decreased since the beginning of March on Ethereum NFT marketplaces.

• NFT trading culture is more grown on Ethereum than Optimism and we can see this by comparing the trade count and volume of these collections:

  The number of wallets buying 'Base, Introduced' NFTs are almost 10x more than the wallets buying ‘BASEd and Optimistic’ NFTs, the overall number of trades have this situation too, and if we look at the total amount of trading volume we see 5x money has been paid for buying 'Base, Introduced' NFTs compared with ‘BASEd and Optimistic’ collection NFTs.

• CoinBase exchange customers have shown more interest in minting 'Base, Introduced' on Ethereum instead of minting ‘BASEd and Optimistic’ on Optimism. This is because 27.7% of the users who have minted this collection have used the Coinbase exchange at least once while only 0.3% of the ‘BASEd and Optimistic’ have interacted with CoinBase labeled addresses.

• Among the 21% of the Base related NFT collections minters that have interacted with the Base testnet, 16.39K users are really excited about the Base testnet launch! This group of wallets have minted both the 'BASEd and Optimistic' & 'Base, Introduced' collections and have used Base testnet too! Each wallet in this group has done 3 transactions on Base testnet on average.

Methodology

These are the metrics I’ll track about these collections:

• Minting Process

• Type of minter wallets and their activity in minting these collections

• Trades on secondary markets

• Collection’s popularity among CoinBase exchange’s costumers

• Minters activity on Base testent

  Notes:

  • For finding the newly created wallets, I used the nonce=0 filter to find the wallets that made their first transaction in the timeframe I was tracking.
  • For finding detecting CoinBase customer, I tracked the wallets that had interactions which had ‘cex’ and ‘coinbase’ label on the Flipside database.
  • ‘BASEd and Optimistic’ contract = '0xe22fd22b3fc0ecd5217d2461d15159a7dfc38790' (Optimism)
  • ‘Base, Introduced’ contract = '0xd4307e0acd12cf46fd6cf93bc264f5d5d1598792' (Ethereum)

Introduction

Recently CoinBase announced a major new project in the form of Base, a layer-2 scaling network for Ethereum built in collaboration with Optimism. (source)

On 23rd February, two Freemint NFT collections were released to mark this news:

The first on was ‘Base, Introduced’ collection available on Ethereum & Zora platform and the second was ‘BASEd and Optimistic’ NFT launched on Optimism with the Optimism foundation’s article about the Base chain on Mirror platform:

In this dashboard I’m going to compare these two Base chain related NFTs.

Sources

Thanks for your attention, have a nice day! 👋

Me in social platforms

Discord: Hessish#9153

Twitter: @h355i

Note: Please click this link to have a better view if you're viewing this dashboard in the new Flipside app: