Question:

Happy Flow NFT Day! As part of today’s celebration of FLOW NFTs, we want you to dive deep into the ecosystem. Treat this as an open analytics bounty specifically focusing on the FLOW ecosystem.

Overview of analysis:

This is a comprehensive analysis on NFT ecosystem of Flow.

The main parts of this investigation are:

• Flow NFT ecosystem
• Deep dive on NBA Top Shots
• Use NFT metadata on NBA Top Shots
  • By Team
  • By player
  • By Play category

NFT on Flow:

Non-fungible token or NFT is one of the types of unique cryptographic assets and the abbreviation is Non-fungible token. NFT tokens are transferable and exchangeable. Irregular tokens can be easily stored in digital wallets and included in exchange transactions.

• NFT innovation can be used to copyright digital works of art.
• With the help of the innovation of non-equivalent tokens and blockchain, it is possible to convert all kinds of real assets into NFT.
• Appearance, educational qualifications, history of medical records and many individual characteristics are different from others. All these features can be converted into NFT tokens and everyone can manage their own data.
• Application of NFTs on computer games.

Methodology:

The data provided by Flipside has been used to handle this analysis.

• The NFT sale on Flow

  FROM flow.core.fact_nft_sales

  where CURRENCY='A.ead892083b3e2c6c.DapperUtilityCoin'

  and TX_SUCCEEDED='TRUE'

• NBA Top Shots

  Select team, player and play_categoty flow.core.dim_topshot_metadata

• Purchaser behavior by sale volume

  WHEN price <= 100 THEN 'a.below 100' WHEN price > 100 and price <=500 THEN 'b.100-500' WHEN price > 500 and price <=2000 THEN 'c.500-2000' WHEN price > 2000 and price <=10000 THEN 'd.2000-10000' WHEN price > 10000 THEN 'e.above 10000'

  
  \

Part 1: Flow NFT ecosystem

Key findings:

As mentioned this is a comprehensive analysis on NFT ecosystem of Flow.

• First of lets see which currency is most used on NFT sale of Flow and the answer is ==DapperUtilityCoin== with over 98% of dominance.
• The ==TopShotMarketV3== and ==NFTStorefront== are two of the most used marketplaces on Flow NFT ecosystem.
• The ==TopShot== and ==AllDay== collections are the most popular NFT collection on Flow and the the domination belong to TopShot with near ==50 million USD== sale volume.
• The ==AllDay== NFT collection which stands for ==NFL== has been spiked in both sale volume and count on ==September 12== with over 5.1 million USD sale volume.
• The ==PackNFT== has less sale volume than TopShot and AllDay but from the aspect of unique purchaser it has remarkable performance and stands in the second rank.
• The area graph related to the sale volume of NFT collections on Flow has been revealed the decreasing trend of TopShot due to the off season of NBA in the recent days and the increasing trend on AllDay because of users tendency to NFT pre season.
• DimensionX== has the highest average sale price among NFT collections on Flow with over 96 USD.
• One of the most important part of each ecosystem is the tendency of newcomers and from this perspective it can be seen that the TopShot has been absorbed most of the newcomers until June 13 and after that date the domination of PackNFT on week August 8 to 15 has been seen in the absorbation of newcomers.

Part 2: Detail analysis on TopShots

Key findings:

Dive deep in the data of NBA Top Shot in this part and summarized the outcomes in the following statements.

• The trend of distinct purchasers and sellers over the time have been ==decreased== and as can be seen generally the number of sellers was more than purchasers in the time frame of analysis.
• The highest count of distinct purchasers and sellers happened in the ==first week of May, 2022.
• The weekly and cumulative volume of sale for NBA Top Shots have been shown the decreasing trend from the peak on ==April 25, 2022== and the second increasing trend happened until the peak point on ==July 18 to 25, 2022.
• Lets see how purchasers of NBA Top Shots distributed based on the purchase volume and as can be seen most of the Top Shot buyers purchase ==less than 100 USD== to NFTs.
• Only 26 unique buyers have been bought Top Shot NFT with price over 10000 USD.
• How long people hold the Top Shot NFTs and the graph reveals that most of the purchasers of Top Shot NFTs hold NFT between 1 week to 1 month.

Part 2.1: Team analysis on TopShots

Key findings:

Go further and by the use of NFT metadata related to Top Shots on Flipside, the performance of Top Shot NFTs by Teams are as below:

• **The ==Golden state warriors== is the leading team on Top Shot sale on Flow ecosystem and the highest sale volume belong to Log Angles Lakers and the main reason is because of ==KING JAMES. **
• Form the sale count and number of distinct purchasers and sellers, the ==Golden state warriors== lead the NFT sale on Top Shot because of their astonishing performance in the previous year.
• The highest average sale price for NBA teams belong to ==Los Angles Lakers== on ==June 6, 2022== with over 194 USD.

Part 2.2: Player analysis on TopShots

Key findings:

Now analyze the Top Shot sale based on the NBA players.

• From the count of sale point of view, the ==Chef Curry== and ==Luka the Magic== stands with ==King== and the top three players are here.
• The highest volume of sale dominated by ==King James== as expected.
• The young bloods like ==Ja Morant== and ==Jayson Tatum== alongside with ==Greek Freak (Giannis)== and its expected to dominate the NBA in the next decade as revealed from the NFT data.
• The NFTs belong to King James are the most expensive one and it has validated by average sale price of his NFTs over time.

Part 2.3: Play category analysis on TopShots

Key findings:

Another interesting topic that can bee analyzed by NFT metadata on TopShot are play category:

• The most beautiful and impressive play on NBA was and will be always ==DUNK== as we all know and most of the ==iconic NFTs== belong to DUNK category.
• The ==3-points and Assist== are other top Sold categories on NBA Top Shots.
• The increasing trend on 3-point play category is because of Splash brothers (Stephen Curry and Klay Thompson) and how Golden state warriors changed the game.
• The average sale price on play categories reveals the effect of special date on price for example the Assist NFTs were sold expensive on June 6 to 13, 2022.

Useful links:

• Article about NFTs on Flow
• NFT sale on Flow
• NBA Top Shot

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani