It is clear that we are living a revolution in the world of non-fungible tokens (NFT). Not only because it is what is most talked about now in the crypto world and what generates more interest, but also because many celebrities are already acquiring their own NFTs. Moreover, with the arrival of Facebook in this world, and other brands such as Nike and Adidas already on the way, it seems that this has only just begun.

Algorand is one of the top 10 platforms currently offering NFTs. Algorand is a project designed to support all types of assets, then, NFTs are not an exception.

Non-closed NFTs analytics

In this first analysis, we will analyze the following:

• Total non-closed NFTs on the Algorand network
• How many are there as ARC3 standard and ARC69 standard?
• Minting of the NFTs over time by each standard
• Cumulative minting of each standard
• Distribution of the NFTs by standard

If we take a look at the NFT mints, the first of them were minted in May, but all of them were ARC69 standard-based. The first ARC3 standard-based NFT mint appeared on October 28th. Taking a look at the first chart, we can see how from the start to the end, the number of ARC69 standard-based NFTs mints has been higher than ARC3 standard. However, it were a lot of ARC3 mints in January 16th, 5 days ago from the redaction of this post. Then, we will need to do another analysis later to see if it is a new trend or only a special day for ARC3, because it could be that a new collection was launched or some similar event.

Analyzing the area chart, we can see as well the dominance of ARC69 standard-based NFTs, but from January 16th, the percentage of dominance seems to be a little bit lower. Nevertheless, observing the donut about the distribution percentage in terms of mints by standard, we can see again that 97.6% of the mints were in ARC69 standard-based NFTs and 2.36% in ARC3.

NFTs volume and transactions sales analysis

The second part consists of an overview of how was the volume sales of these NFTs over time. To make a good evaluation, we will explore the following:

• The total daily volume and cumulative of NFT sales over time
• The daily volume generated by standard over time
• The cumulative daily volume of sales over time
• The cumulative daily volume of sales over time by standard
• Distribution of the total volume sales by standard
• Distribution of cumulative volume sales by standard
• Total NFT transactions and cumulative over time
• The cumulative NFT transactions sales over time by standard
• Relationship between transactions and volume of NFT sales

Taking into account all Algorand network data, a total of 293.7k non-closed NFTs exist. Among that NFTs, 76.7k are ARC69 standard-based and 4790 ARC3 standard-based.

Taking a look at all of these analyzed metrics, we can extract some important and significant things:

• From July to October 2021 the volume increased, and from that, it seems stabilized with a lot of heavy peaks in concrete days. The minimum Algo in terms of daily volume is around 25k and on the days with the heavy peaks, the daily volume is around 330k, which is more than 10x difference, a big difference!
• The dominance of ARC69 standard-based NFTs in terms of volume is higher than in the previous analysis. In this case, the ARC3 line in the daily volume chart over time by the standard is too low compared to ARC69 that it seems a 0 line from start to the end. The same occurs with the cumulative volume, which is more than 20M for ARC69 standard-based NFTs and less than 20k for ARC3.
• Finally, taking a look at the percentage of the volumes by standards, we can see how the dominance of ARC69 standard is absolute with 99.8 of daily volume and 99.9 of cumulative volume.

Now, we are gonna proceed with the final analysis of the NFT transactions and will be compared with the volume. In this case, we will compute the following:

• Cumulative NFT transactions and volume (ARC69 and ARC3 standard-based)
• Number of daily transactions per standard over time
• Relationship between number of transactions and volume

Looking at the first chart, we can see how the cumulative transactions line have a similar trend to the cumulative volume seen before. The total transactions right now are almost 300k. Taking a look at the daily transactions chart over time by standard, we can see again the dominance of ARC69 standard-based NFTs. For transactions in standard ARC69 NFTs seems to be stabilized above 2k daily, while for ARC 3 around 30. Finally, the last chart shows the relationship between volume and transactions. We can see how there is a positive correlation between the number of daily transactions and the daily volume, saying that when the number of transactions increases, the volume tends to be higher as well, which make sense.

To sum up, we have seen how NFTs are being integrated into the Algorand network. The ARC69 based NFTs are more used rather than ARC3. However, both trends are positive and seem like during next month it will increase more. We will need to do some other analysis a few weeks later to view what's going on about Algorand NFTs.