Try Quests to earn cryptoSolana.Magic.Eden.vs.OpenSea.vs.Random.Earth
In this bounty, the detailed analysis of 3 most used NFT platforms is addressed.
Q39. Create a dashboard highlighting at least 3 metrics comparing marketplace performance and adoption between Magic Eden on Solana, OpenSea on Ethereum, and Random Earth on Terra since January.
What has been the rate of change of these metrics since the start of the new year and are there any signs of growth of a certain marketplace or ecosystem of NFTs? Highlight the 5 most popular NFT collections for each marketplace over that timeframe in terms of sales volume. Is the turnover rate (number of transactions) for collections on Magic Eden noticeably higher than on OpenSea and Random Earth? Provide some insights on these findings.
The number of sales and volume of sale for Magic Eden platform on Solana blockchain are shown in this figure. As shown in this figure, the both of the chosen parameters have grown since Feb 17, 2022. The maximum number of sales was 4632 and the maximum volume of sale was 16.54k Sol.
The volume of sales for top 5 collection of Magic Eden is shown in this figure. As shown, the Hawksight collection was in the first place of sale and started from Mar 5, 2022. Defi pirates and Balloonsville were in the second and third place of maximum volume of sale, as mentioned in this figure. Each of these collections are sold on specific time period. For example, Balloonsville started from Feb 5, 2022 and it related to its add time on Magic Eden.
The second platform of NFT sales is Random Earth on Terra blockchain. The number and volume of sales for Random Earth are shown in this figure. As shown in this figure, The maximum number and volume of sales happened on Jan 16, 2022 and the volume of sales was 14.53 Luna. After that time, the movement of these parameters were consistent around 500 number of sales and 2k Luna volume of sales.
The volume of sales for top 5 collection of Random Earth is shown in this figure. As shown in this figure, GP collection had the highest volume of sale in the chosen time period and the maximum volume of sale for this collection was 6.146 Luna and happened on Jan 16. The other collections are shown in this bar based on their volume of sales, too.
Comparison of NFT platforms
This comparison is going to be done based on these parameters:
Number of sale:
From the number of sales point of view, the OpenSea platform was in the first place and Magic Eden was the next one. But in the sense of rate of change, As shown in the figures, The Magic Eden platform kept its consistent movement but other two platform have decreased.
Volume of Sales:
By considering this criteria, the OpenSea takes the first place with average 100 million USD sales. But from the rate of change point of view, the volume of sales for OpenSea and Random earth have decreased from Feb 13 and volume of sales for Magic Eden has grown from this date.
Top 5 collection:
The last criteria of comparison is the performance of top 5 collections in each of the platforms. As shown from the results related to top 5 collection of each NFT platform, the application of top 5 collections of Magic Eden has grown. Whereas, the application of top 5 collections related to OpenSea and Random earth have decreased as can be seen.
The top 5 collection of OpenSea platform with their volume of sales are shown in this figure. As shown in this figure, the Creepz had the highest volume of sale among these collections with near 23.24 Million USD on Jan 25, 2022. The OpenSea takes the second place with about 3 million USD sales on each day averagely.
OpenSea is the NFT sales platform of Ethereum blockchain. The volume and number of sales for this platform are shown in this figure. As shown in this figure, the maximum number of sales happened on Jan 16, 2022 with about 40k sales and the highest volume of sales happened on Feb 12, 2022 with near 176 million USD. After Feb 13, the volume of sales dropped to lower level but number of sales has risen to over 25k sales.
Methodology:
Three main blockchain in crypto universe are Ethereum, Solana and Terra. The NFT sales platform on thee blockchains are OpenSea, Magic Eden and Random earth. The performance of these three platforms are analyzed based on following parts:
1- Number of sales
2- Volume of sales
3- Top 5 collection in each of them
finally, the exact comparison of them are provided in the last section and demonstrates the rate of change for these three platforms.
The chosen period for this analysis is since start of 2022.