An Analysis on Bridgesplit and MonkeDAO's DAOJONES

Lets look at the Bridgesplit and MonkeDAO's DAOJONES by using on chain data extracted from Flipside database. This paper gives you brief information about Bridgesplit and MonkeDAO's DAOJONES and their aims, then looks at the some raw data from Solana network using SQL.

Fractionalized NFTs: The Next Wave of NFT Adoption

NFTs have exploded this year. With a staggering total sales volume of more than $15 billion in 2021, compared to just $340 million in 2020, it would seem that NFTs have to be reaching a peak…..right? At Bridgesplit, we think they’re just getting started. And with the rolling launch of Bridgesplit’s NFT financialization platform, the NFT ecosystem is expanding into previously unreachable territory.

Benefits

Once an asset or collection has been fractionalized into SPL tokens, getting your hands on them becomes as easy as buying some SOL. This makes gaining exposure to the NFT market easier than ever, and comes with some added benefits. One of the most important of these benefits is the high level of liquidity associated with SPL tokens. With these fungible tokens, it is much easier to get in and out of the market than is possible with NFTs themselves. As a result, fractionalized NFTs (fNFTs) reduce the level of commitment that is normally assumed when buying an NFT. Exposure to NFTs without the long-term commitment — DeFi fans rejoice. The owner of a fractionalized NFT or collection can even choose to give token holders tiered ownership benefits, such as Discord access, IRL event passes, and DAO membership by holding a certain percentage of the token’s supply. The potential here is limitless.

MonkeDAO’s first fractionalized NFT asset enabled by BridgeSplit has become one of the hottest NFT developments in the Solana ecosystem. The NFT project fractionalized the official mascot, DAO Jones, and listed it on the Raydium Finance DEX on January 15. In the last 24 hours, the asset has witnessed significant traction with a trading volume of $417,081 and hit a market capitalization of over $7 million, as per data from CoinMarketCap. DAO Jones hit a high of $94.15 on the same day and currently exchanges hands in the $68 range, over 20% down from the high earlier in the day.

On-Chain Analysis

Introduction

For analyzing Bridgesplit and MonkeDAO's DAOJONES the following barchart is plotted from Flipside data center. As you can see this is a logarithmic chart that has peaks in different dates. The number of wallets that transacted with DAOJONES seems to be 2 in the most of the time, but it reached to higher numbers several times. The highest number is 34 and lowest one is one wallet.