Try Quests to earn cryptoNFT Purchasing Behavior: Blur vs Quix
Tracking NFT purchasing behavior on Blur & Quix marketplaces
What is Blur?
Blur is a new NFT marketplace on Ethereum backed by renowned investors, including Paradigm, 6529, Cozomo Medici, dhof, Bharat Krymo, Zeneca, OSF, MoonOverlord, icebergy, Deeze, Andy8052, and Keyboard Monkey. The company behind Blur raised $11M from these investors.
Blur was in a private development phase for 276 days before it was officially launched on October 19, 2022.
Methodology
Mainly this dashboard is about the trades volume in Blur & Quix, Based on the volume of the trades we have 5 tiers here:
- A. Less than 0.01 ETH
- B. Between 0.01 and 0.1 ETH
- C. Between 0.1 and 1 ETH
- D. Between 1 and 10 ETH
- E. 10 ETH or more
We will find the total sales counts, volume and wallets in each tier at first, and then see how the sales of the popular collections of each marketplace are distributed in these tiers in recant 3 weeks.
Besides these findings, we will find the sales volume correlation vs ETH price and users retention in each marketplace too.
Recently Blur NFT marketplace launch was one of the main news on Ethereum, In this dashboard we are going to take a look at the wallets behavior on Blur and compare it with one of the most popular NFT Marketplaces through all blockchains: Quix, in recent 3 weeks.
Before we start, let’s get reed some instructions:
Resources
Inspired by M.Zamani‘s dashboard about NFT Purchasing Behavior on Optimism:
Other sources:
What Is an NFT?
An NFT is a cryptographic token that cannot be interchanged in a like-for-like manner. These tokens are entirely distinguishable from one another and are unique and limited in quantity.
NFTs can be used to represent real-world items on the blockchain, but can also be used for digital collectibles. Digital identity and the metaverse are other sectors that can utilize NFTs.
NFTs have been popularized in mainstream culture as a new form of digital art. However, they also have potential applications in many different fields, such as video games, digital identity.
What Is an NFT Marketplace?
An NFT marketplace is a platform on which NFTs can be created, stored, and sold. For better understanding, compare this marketplace to Amazon or eBay as places where goods find their buyers. The same is with NFTs and their markets. If you own anything as a digital file, you can sell it as NFT on an NFT marketplace.
▶ Most trades in Blur are in 0.01~0.1 $ETH size, This tier have 46% of the total trade counts on Blur, However since 2nd November, trades with
0.1~1 $ETH are increasing on Blur and even flipped the 0.01~0.1 $ETH size trades in recent 3 days! (you can check the higher rate of of this tier trades growth in cumulative chart better)
0.1~1 $ETH trades have gained 29.4% share of total trades now.
Also as we can see the 10 $ETH or more tier trades has the lowest share in Blur.
▶ By comparing the trades status on Quix with Blur, the first thing understand is Quix trades size have less variety than Blur.
More than 98% of trades on Quix are small sized ones. 56.1% of the trades are less than 0.01 $Eth and 42.6% of them are between 0.01 and 0.1 $ETH.
If we look at the daily and cumulative charts we can’t see any notable change sin trade sizes (we see increasing of the 0.01~0.1 $ETH size since November in Blur but in Quix the trades size did not have any special changes)
Another notable thing here is the lack of +10 $ETH sized trades in Quix.
▶ In Blur marketplace, wallets behavior has direct correlation with the trades size.
According to in previous part, 0.01~0.1 $ETH trades size in Blur have the most popularity and as we see here, most of the wallets (14.27k in total) interacting with Blur marketplace are buying NFTs with the prices between 0.01 and 0.1 $ETH.
But in Quix the wallets behavior is a little bit different!
We see the common trade size in Quix is less than 0.01 $ETH, but if we look at the wallets interacting with Quix, We find out the ones who buy NFTs with prices between 0.01 and 0.1 $ETH are more than any wallets (18.33k on total).
This means although the wallets buying less than 0.01 $ETH priced NFTs have not the highest share among all Quix users but they are the most active group and have the highest NFT purchasing counts.
B: Trades volume on Blur
▶ The first notable thing here is the growth of the Blur trades volume in early days of November.
Thanks to the increase of the big sized trades ( +10 $ETH ones) the platform reached more than 12k $ETH trade volume in 2 November 2022.
And although by decrease of the +10 sized $ETH trades, Blur total sales volume has decreased recently but it’s still more than the first week of the platform launch
If we look at each tier’s sales volume we see Trades with 10 $ETH or more size have the highest share on total sales volume on Blur with 35k $ETH ($55.4M in USD) and the lowest share belongs to less than 0.01 $ETH trades with 172.46 $ETH volume ($259.73k in USD)
▶ As we see the overall trades volume of the Quix is much less than Blur, Thanks to the some trades with 1~10 $ETH volume, Quix’s highest record have been submitted on 25 October 2022 which was around 100 $ETH while in Blur in the lowest volume days more than 500 $ETH had spent on NFT trades (see 22 October 2022 on the Bluer trading volume chart).
If we look at each tier’s sales volume we see tier B (0.01~0.01 $ETH ) has the highest sales volume with 461 $ETH ($684M in USD) and besides +10 $ETH trades with 0 $ETH volume, the lowest share belongs to less than 0.01 $ETH trades with 77.59 $ETH in total. ($114.6K in USD)
▶ As we see ‘The otherside’ NFT collection with more than 900 sales, has the most sales count in Blur and if we look at the size of the this collection’s trades we see most of the sales are in ‘1~10 $ETH‘ tier.
Also we see ‘The otherside’ , ‘Azuki’ and ‘Clone X’ are the projects with +10 $ETH sales history, these collections have high impact on raising Blur total sales volume.
▶ Optimism Quests NFTs (named project galaxy in flipside’s database- contract: ‘0xfa14e1157f35e1dad95dc3f822a9d18c40e360e2’- as the collection is made for Optimism partnership with Galxe)
is the most popular project in Quix in recent 3 weeks and as we see the most of the collection’s sales are in ‘less than 0.01 $ETH tier’.
If we look at the tiers stats in top collections, we see most of the sales are in cheap tiers just like overall NFT selling status on Quix.
Another thing we can notice is, although top Quix NFTs are cheaper than top Blur NFTs and have lower sales volume but the sales count of Quix top collections are much higher than Blur.
▶ In past parts we see the volume of the trades in Blur was always higher than Quix and if we look at the Average NFT prices chart in each marketplace, we can find the reason! NFTs on Blur are more expensive than Quix so it helps Blur to have higher sales volume in total (for example we see how +10 $ETH priced NFTs raised the Blur’s sales volume while Quix did not have any NFTs in this price tier, and just have several NFTs with 1~10 $ETH price)
▶ In both marketplaces, Users make their next NFT trade in the same day which they make the 1st one, although in Blur users with at least 2 NFT trades in one single day are more than Quix users with this kind of behavior. (72%of all Blur users vs 67% of all Quix users)
A: Trades status on Blur
B: Trades status on Quix
A; Trades volume on Blur
A: Blur top collections
B: Quix top collections
▶ The sales volume in Blur have higher correlation with $ETH price comparing with Quix.
As we see when the $ETH price is high the bigger volume of $ETH are spending on NFT trading on Blur but in Quix although the sales counts goes high with $ETH price, but the highest trading volume has happened on $1400 ETH price which is not the highest price of $ETH in recent 3 weeks.
Conclusion
- NFTs on Blur are more expensive than Quix so it helps Blur to have higher sales volume in total. in other words more $ETH is spending on Blur in NFT trading comparing with Quix.
- Most trades in Blur are in 0.01~0.1 $ETH size, However since 2nd November, trades with 0.1~1 $ETH are increasing on Blur and even flipped the 0.01~0.1 $ETH size trades in recent 3 days.
- Quix trades size have less variety than Blur, More than 98% of trades on Quix are small sized ones with 0.01~0.1 $ETH and less than 0.01 $ETH sizes.
- Most of the wallets interacting with Blur marketplace are buying NFTs with the prices between 0.01 and 0.1 $ETH which means wallets behavior on Blur have direct correlation with the trades size.
- The common trade size in Quix is less than 0.01 $ETH, but the group of the wallets who buy NFTs with prices between 0.01 and 0.1 $ETH are more than any wallets in Quix.
- Thanks to the increase of the big sized trades ( +10 $ETH ones) Blur reached more than 12k $ETH trade volume in 2 November 2022.
- Trades with 10 $ETH or more size have the highest share on total sales volume on Blur with 35k $ETH ($55.4M in USD)
- Quix’s highest record have been submitted on 25 October 2022 which was around 100 $ETH while in Blur in the lowest volume days more than 500 $ETH had spent on NFT trades.
- ‘The otherside’ , ‘Azuki’ and ‘Clone X’ are the projects with +10 $ETH sales history on Blur, these collections have high impact on raising Blur’s total sales volume.
- ‘The otherside’ NFT collection with more than 900 sales, has the most sales count in Blur and if we look at the size of the this collection’s trades we see most of the sales are in ‘1~10 $ETH‘ tier.
- Optimism Quests NFT is the most popular project in Quix in recent 3 weeks and the most of the collection’s sales are in ‘less than 0.01 $ETH tier’.
- When $ETH price is high the bigger volume of $ETH is spending on NFT trading on Blur, so the sales volume in Blur have higher correlation with $ETH price comparing with Quix.
- In Blur users with at least 2 NFT trades in one single day are more than Quix users with this kind of behavior. (72%of all Blur users vs 67% of all Quix users)