Question:

Q85. It has been said that Solana NFTs have become a powerful onboarding tool into the Solana ecosystem. Is this narrative true? Which NFTs have captured the most first time users of the Solana blockchain? What kinds of activities do these wallets tend to do after buying their first NFT? Do you think the NFT growth on Solana will spill over into Defi?

Approach:

In this essay the power of Solana NFT section has been analyzed as a powerful onboarding tool. The proposed approach based on the each metric defined as below:

• Compare to other project

     from solana.core.fact_transactions with labeling the program id and select application
  

• Track NFTs by first time users

     use min(BLOCK_TIMESTAMP) to find the first action on solana.core.fact_nft_sales
  
     Then track these actions by PROJECT_NAME on solana.core.dim_nft_metadata
  

• Other applications of these new users

     Select label of interacted programs on  solana.core.fact_transactions
  

• Time period

     BLOCK_TIMESTAMP>='2022-01-01' -- stands for users in 2022
          
  

Results:

The application of Solana NFT and DeFi tool has been compared on these graphs. According to the results:

1. The NFT tool on Solana has dominance performance since start of 2022 until February 17th.
2. After February 17th, NFT tool has more application than DeFi but numbers are close together.
3. The growing rate of application of NFT over DeFi tools demonstrate the popularity of NFT tools on Solana Ecosystem and making it as a leading tool on blockchain.

The behavior of first time NFT users presented in these graphs. The first graph rank the NFT project by their application between first time users and the second one reveals the buying action over time. For these graphs it can be concluded that:

1. The DeFi Pirates captures the most first time NFT users in 2022 as illustrated in first graph.
2. Okay bears and Astrals are the second and third most used NFT project by first time users.
3. Application of DeFi pirates spread over time by first time users of each day.
4. Astral and Okey bear usage have jumped in specific time period and cause spikes in the graph.

The other activity of these first time users shown in this pie chart.

According to this chart, Serum, Mango markets and Jupiter have the highest application between the first time NFT users in 2022.