Question:

Q10. Create a series of dashboards comparing wallet behavior for buying and selling NFTs on Flow compared to on Ethereum and Solana. Is there more or less "whale" activity on Flow compared to each of the other chains? What do "whales" tend to focus on in Flow? How common is "flipping" on Flow (selling within 24 hrs, within a week etc) compared to other chains, or do wallets tend to hold onto their NFTs? Are wallets more interested in new projects, or already existing projects on Flow?

Preliminaries:

This essay seeks to create the series of dashboards that presents the behavior of NFT purchasers on FLOW blockchain with Solana and Ethereum.

The activity of whales has been considered as a main part of this analysis.

The hold time of NFTs on various blockchains investigated, too.

The reference date of this essay is from May 9th, 2022.

Approach:

1. NFT sale

   FLOW-- flow.core.fact_nft_sales where TX_SUCCEEDED='TRUE'
   
   Solana-- from flipside_prod_db.solana.fact_nft_sales where succeeded = 'TRUE'
   
   Ethereum-- from flipside_prod_db.ethereum_core.ez_nft_sales where event_type = 'sale'
   

2. Whale identification

   Use number of bought as a reference: Whales have bought NFTs for more than 100 times.
   

Results:

Sale performance

Discussion on sale activity

1. The FLOW blockchain has acceptable performance in number of sales specially on May 26th.
2. The number of unique buyers for Ethereum is more than other two but for FLOW blockchain it could be compared to Solana in some dates.
3. The grow ratio of FLOW buyers validate the promising performance of FLOW in NFT market.

Whale analysis

The activity of whales on FLOW blockchain is more than other two. In my opinion its because of the valuable collections that take place on FLOW NFT projects.

Duration of holding NFT

The hold time of NFTs on FLOW and Ethereum displayed in the pie graphs.

1. The dominate period of holding NFTs on FLOW is between 1 week to 1 month.
2. On Ethereum, 63% of users hold NFTs more than 1 month.
3. The background and history of Ethereum prove this holding time in comparison with FLOW.

Tendency on projects

As expected, the Top shot collection is the most popular NFT project on FLOW among whales.

The next places are taken by PackNFT and AllDay.

The purchasing behavior of wallets on NFTs demonstrates by this area graph.

Due to the space taken by NFT projects, the application of Top shot and PackNFT could be seen and not negotiable as a NFT collections.