Blockchain software technology company and Ethereum builder ConsenSys celebrated the merge by dropping free NFT collection on the Ethereum mainnet, In this dashboard we are taking a look This collection’s story!

What is ConsenSys?

ConsenSys was founded by the co-founder of Ethereum, Joseph Lubin.

The company is a global collection of entrepreneurs and technologists trying to bring about a more decentralized world. Using Ethereum as its foundation, the company uses a number of different approaches to help achieve that goal:

• ⚗️ Solutions - A consultancy for large companies like Microsoft, Smart Dubai and Shell looking to build out their blockchain solutions.
• 🔬 Labs - An incubator and venture studio designed to help grow companies in the ConsenSys ecosystem. These include startups such as MetaMask, uPort, Truffle Suite and Civil.
• 💰 Capital - The company provides funding and advice on how to build and launch an ICO.
• 🏫 Academy - A learning resource to help teach the next generation of developers to build on Ethereum.

What is The Merge NFT?

Named Regenesis, the NFT collection pays tribute to the open community of developers, client teams and researchers for the seven years of dedication and innovation it took to make the transition from Proof-of-Work to Proof-of-Stake possible

The collection comes in different editions including an open edition focused on the most important benefit of the Merge: sustainability. It features a series of illustrations that depict detailed futuristic worlds that embody the benefits of the Merge: sustainability, security, and scalability. 

ConsenSys partnered with Invisible North to design a series of illustrations by artist and illustrator Chris Skinner, the NFT animations were made by Keithcity Group. The art explores the scale and significance of the Merge, an ambitious re-architecture of the Ethereum blockchain. 

Methodology

In this dashboard at first we are going to track Regenesis’s minting process, find MetaMask users activity on minting, and then take a look to sale Regenesis’s stats on secondary markets.

• Regenesis contract address: 0xe42cad6fc883877a76a26a16ed92444ab177e306

• MetaMask swap address: 0x881D40237659C251811CEC9c364ef91dC08D300C

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As we see the mint process started at 15th September 2022 (The Megre Date) and ended on 18th September, lasted 72 hours and 285k NFTs were minted during this time. \n The starting and ending hours of the mint period were the noisiest moments of this event. \n 7617 mints happened at the first hour of the launch, while 5991 mint completed on the final hour. On 9:00am on 15th September, the highest record of mints in an hour was submitted with 10.4k mints. \n

143.4k Ethereum users minted The Merge NFT!

The number of minters were decreasing during the minting days, as we see wallets highest activity happened on the first hours of the mint.  On 9:00am on 15th September, 7671 different wallets minted Regenesis which was more than any hour during the mint period.

As we see 110.9k of the total 1.441m MetaMask swappers have minted The Merge NFT; in fact, a total of 19.5% of the minters are the users who interacted MetaMask swap feature on Ethereum, I think holding The Merge NFT can be an effective condition to detect more active users for future MetaMask airdrop!

Regenesis mint had no limits for the minters, which meant a user could mint as many as he/she wanted. \n But more than 85% of the minters, minted The Merge nft just 1 time, while 1% of the minters had minted it over the 100 times! \n Wallet 0x693fba7697e1734304aca2af81180cb2a6855d14 with 5000 mints is the leader here by far!

As we see most of the minted NFTs are holding or transferred freely by the minters, instead of selling. \n A total of 7.43k Regenesis NFTs (which is 2.27% of the total supply) have been sold on 4 different marketplaces, and 95.2% of the trades have happened on OpenSea (7080 in numbers).

As we see Buyer wallet counts are almost 3.3x more than the seller wallets, which means the unique wallets selling the Merge NFTs are less than the unique ones who are buying. Besides 28 & 29th September, the unique buyers counts have always been more than the unique seller ones, which can mean most of the minters prefer to hold their NFTs despite the supply is too high.

As we see wallet 0xbb67bbc2911349813d5e390bbc2d268b414ff1c0 is the most active Regenesis collector from the secondary markets with 555 purchases.

If we look at the general behavior of the buyer wallets, we see 80.4% of them purchase just one Regenesis from the secondary market.

There is some difference between buyer and seller behavior when we compare them together! The 1-time traders in seller wallets have less dominance (62.8%) compared to the buyers (80.4%). Also, it’s interesting 4.75% of the seller wallets have sold more than 100 Regenesis NFTs! \n And if we look at the record holders, we see wallet 0xc449ab8cfb39053f27046a61868c70925b840e11 is the most active one on selling Regenesis NFTs with 1614 sales!

The sales volume chart is even worse than the trade counts chart! It had a solid start on the first days but we can see strong correlation with the $ETH price have bad effects on sales volume, but of course we should remember Regenesis was a freemint project and no one expected a high sales volume from it and it already reached $12.18k sales in total!

If we look at the daily sales chart, we see he collection had good demand on the starting days of the launch but the trade counts have fallen sharply through the time, both $ETH bearish chart and ending Merge hype have negative effects on Regenesis trades.

Part1: Minting stats

How Regenesis minted through time?

Wallets behavior during the mint:

How about MetaMask active users?

We know the ConsenSys company has published both MetaMask and Regenesis, so maybe filtering the Regenesis minters among MetaMask users can be a good condition for airdropping future MetaMask token, let’s see what day did here:

(active users= user making at least one swap via MetaMask on Ethereum.

$3.31m has been paid as the mint’s gas fee! We can see he amount of the payments had a huge spike on last 2 days, and if we look at the hourly chart, we can see the high amount of payments on final hours, which can be because of the high activity during the final hours of the mint.

Part 2: Trading stats

Gas fee payments during the mint:

Sales volume and marketplaces:

Wallets behavior on the trades:

Finally, we take a look at the most expensive sale of The Merge NFT, which the buyer paid $285 for a buying a freemint project!

Conclusion

• 285k Regenesis NFTs by 143.4k were minted by unqiue wallets in 72 hours.
• The starting and ending hours of the minting period were the noisiest moments of this event, 7617 mints happened at the first hour of the launch, while 5991 mint completed on the final hour.
• On 9:00am on 15th September, 7671 different wallets minted Regenesis which was more than any hour during the mint period.
• Only 19.5% of the minters are the users who interacted MetaMask swap feature on Ethereum, so holding The Merge NFT can be an effective condition to detect more active users for future MetaMask airdrop!
• The minters paid $3.31m for the mint’s gas fee, and the payments volume had a notable growth in the final hours of the minting event.
• 2.27% of total Regenesis supply have been traded on secondary markets and more than 95% of the trades have been done at OpenSea.
• Both $ETH bearish chart and ending Merge hype have negative effects on Regenesis trades.
• Regenesis’s Buyer wallet counts are almost 3.3x more than the seller wallets, which means the unique wallets selling the Merge NFTs are less than the unique ones who are buying.
• Wallet 0xbb67bbc2911349813d5e390bbc2d268b414ff1c0 is the most active Regenesis collector from the secondary markets with 555 purchases and wallet 0xc449ab8cfb39053f27046a61868c70925b840e11 is the most active one on selling Regenesis NFTs with 1614 sales!
• 4.75% of the seller wallets have sold more than 100 Regenesis NFTs!
• The most expensive Regenesis NFT has been sold for 0.2 $ETH ($285 at the time of the sale), A huge payment for a freemint project!

Resources

Contact

• Discord: Hessish#9153
• Twitter: @h355i

Thanks for your attention! 👋