Try Quests to earn FLOWFLOW NFT Floor Tracker
Let’s sweep some floors. Build a dashboard that tracks the floor by contract for various NFT projects in the FLOW ecosystem. We’re interested to see how you come up with your own methodology.
🎇 Definition
What Is Flow?
Flow is a fast, decentralized, and developer-friendly blockchain built by Dapper Labs to power some of the biggest brands’ NFTs and digital collectibles such as the NBA, UFC, CNN, Warner Music Group, Dr. Seuss, Ubisoft, and more. Flow leverages an environmentally friendly design via Proof-of-Stake that consumes thousands of times less energy than Proof-of-Work blockchains like the current Ethereum network. The combination of eco-friendly design, scalability, and the diversity of projects building on Flow is a key reason we chose to run Canes Vault on the Flow blockchain. Learn more about the Flow blockchain at onflow.org.
What Is NFT?
An NFT is a one-of-a-kind piece of digital content (such as an image or a video) that is an officially licensed collectible. The NFTs ownership is authenticated and verifiable by the blockchain, a technology used for things like bitcoins. That means while copies of videos, images, and even animated gifts can multiply on the internet, there can be only one with a certificate of authenticity. Like other collectibles, you can buy, sell, and trade them.
What Is An NFT Floor Price?
The floor price refers to the lowest-priced NFT within a collection and is one of the most widely used metrics collectors use to evaluate a project. Here, we assume the minimum sold price of each NFT on each time interval as its floor price, meaning that you could buy the NFT on that timeframe with that price as your cheapest buying option.
> Recource: [1]
1️⃣ Path
- In this analysis, we are going to have a deep analysis of Flow top NFT collection
- First, we will define the top NFT collections as collections that had the highest number of sales among all, it can be changed to volume using the parameter section on the above
- This analysis contains several main parts, NFTs overview, top collections overview, floor, ceil, and average price, and top floors
- First, we take a look at the overall metrics for all of the NFT collections in total and average metrics per collections
- Then, we will do an overview of top collections, for sales frequency, volume, buyers, and sellers over time, and an overall view of the top collections’ total sales, volume, buyers, sellers, floor, ceil, and average price
- On part of the top floor, we will see the top 10 NFT collections with least floor price and the top 10 NFT collections with the highest floor
2️⃣ Method
- The time Interval can be modified in the parameter section at the top of the dashboard to be set to day, week, month, etc by logging into the Flipside account which is free and can
- The Number of Top NFT Collection for analysis can be modified to be set to any desired number
- The main table that was used for this analysis was
flow.core.ez_nft_sales - We also used
flow.core.fact_pricesfor minting part - We assumed the minimum sold price of each NFT on each time interval as its floor price, meaning that you could buy the NFT on that timeframe with that price as your cheapest buying option.
✨ Highlights
Until the end of October 2022:
- around 1.2B $USD transacted over 25.5M sales on Flow, in which 473K sellers sold their NFTs to 506K buyers, with the average price of ~47$
- There are 206 NFT collections of Flow that traded at least once
- On average, each collection traded for ~124K times, from ~2.8K seller to ~3.3K buyer, with an average total volume of ~5.8M $USD
- The average floor price for NFT collections is ~16$
✨ Highlights
- We can see the floor, ceil, and average price of the top NFT collections from the left side of the above chart
- The Moving average 7 of these parameters can be found on the right side of the above charts
- There was a big difference between the floor and ceil prices of the TopShot collection, and looking at average chart we can see that there was a big hype for it around March 2021
✅ Conclusion
In this analysis, we went through a deep dive into the floor price of Flow top NFT collections, and here are our findings until the end of October 2022:
- Around 1.2B $USD transacted over 25.5M sales on Flow, in which 473K sellers sold their NFTs to 506K buyers, with the average price of ~47$
- Among 206 traded NFT collections, on average, each collection traded for ~124K times with an average total volume of ~5.8M $USD, and an average floor price of ~16$
- Most of the flow NFT sales and their volume belongs to TopShot NFT collection with ~89% share, and after that AllDay had the second highest share
- We saw the floor price of top collections over time through this dashboard and as you saw, there was a big difference between the floor and ceil prices of the TopShot collection
- The ceil price and average price were the other two types of provided charts, which for example showed us a big hype for TopShot around March 2021
- We showed that the top lowest floor collections had much higher trades than the top collections with the highest floor price which had low number of sales
- There was an inverse relation between floor price and number of sales and a direct relation between floor price and volume
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- TopShot had the lowest floor price of 0.1$ and the highest maximum price of 230k $
- PackNFT had the highest floor with 49$ and the highest average price of ~78$
- Basketballs NFT traded on fixed price from 2 sellers and 2 buyers
✨ Highlights
- Comparing NFT collections floor price with the number of sales, we can see that with the increase of the floor price, the tendency is having less number of swaps, so the relation here would be inverse
- Comparing NFT collections floor price with their sales total volume, we can see that with the increase of the floor price, the total volume also increased, so the relation in here is direct