Introduction

Solport is a community-ran Solana NFT marketplace as stated in their Twitter account which recently launched their V2 platform. They pride themselves on providing a safe platform for both collectors and art creators and claim to be the number 1 marketplace for Solana trading in their FAQ but that is a bold statement...

Maybe someone has something to say, enter:

Magic Eden also states their community-centric approach and focus on digital creators. What does Magic Eden have to say to Solport's bold claim? Let's dig in the data!

Methodology

Two separate queries have been made to compare, on one hand the sales volume and unique users as well as the sales of Taiyo Robotics NFT collection on the other hand on both marketplaces.

First query is made with one CTE for each marketplace using their program_id and adding the daily sales_amount, counting the distinct purchaser and calculating the accumulated values for both over time. THe time frame for this query is the period between March 12th 2022 and the previous day to the query (using CURRENT_DATE - 1) to avoid incomplete day data.

Second query is done getting the same values but using one table instead of two CTE where marketplace is additionally selected to be able to group the graphs by marketplace. Timeframe here is set between March 22nd 2022 and the previous day to the query to compare both marketplaces due to the first sale in Solport being on that date.

Results

Figure 1. shows the total daily sales in Solport and in Magic Eden. Due to the difference in magnitude, each marketplace has its own axis. Solport has ramped up nicely since its V2 launch in March 12th but cannot compare itselt with the behemoth that Magic Eden is.

Both marketplaces peaked on March 29th, Solport with 1,573 SOL of sales volume and Magic Eden with 123.85k SOL of sales volume. That is almost a 1:100 difference.

Figure 3. and 4. show the daily unique buyers in Solport and Magic Eden respectively. Again the difference in magnitude can be clearly seen, while Solport peaks on March 25th with 262 unique buyers, Magic Eden averages over 10k unique buyers on the period analysed.

Conclusions

Although Solport's V2 launch can be deemed a success due to the high volume obtained in the first days, it still has a long way to go to claim the number 1 spot amongst Solana NFT marketplaces. Just one bad day in Magic Eden has more volume (9,5k SOL) than the first 12 days of Solport V2 (8,4k SOL).

That being said, Taiyo Robotics show comparable levels in both marketplaces since the first sale in Solport V2 was registered. Owners of this NFT collection seem to care about growing their own marketplace. It will only take this collection or any other incentivizing Solport to launch off to start winning share and maybe it can be called the number 1 marketplace in Solana soon, but it will be a long way.

Figure 2. shows the cumulative sales volume in Solport since its V2 launch, almost 8,5k SOL. The number differs from the 10k milestone from the tweet probably due to data synchronisation deviations but gives a good dimension of the metric.

Figure 5. and 6. show the accumulated sales volume and unique buyers for the Taiyo Robotics NFT collection, both in Solport and in Magic Eden. Both figures show the same trend where both metrics grow faster in Magic Eden at the beginning but Solport is able to come back at the end of the analysed period. Although there is one buyer more in Magic Eden than in Solport, the sales volume is higher in Solport than in Magic Eden, so buyers spend more SOL in Solport.