Try Quests to earn crypto
Introduction
As we know, Ethereum network is composed of multiple nodes and users can connect through these nodes. So, once connected users can create transactions and send them to the network through these nodes. Now, once a node receives an incoming transaction, it will actually send that to all other nodes. So, a single transaction from a user to a single node is essentially going to propagate through the entire network until every single node receives that incoming transaction. Where as, A Block can simply be defined as a list or group of transactions so either way once a node has a block of transactions, which will begin validating and executing those transactions and by validating, we can ensure that the data is properly formatted that the user included enough fees.
The aim of this dashboard is to analyze the NFTs market trend i.e. a retrospective of NFT market in 2022 assessed in terms of sales volume, most NFTs listed for sale on exchange, least amount of NFTs listed for sale on an exchange, NFT project gained the most value this year, NFTs had the longest hold time this year etc.. with supporting graphs or visuals.
What are NFTs ?
In general, NFTs stands for Non-fungible tokens, where in Non-fungible can be defined as something that cannot be exchanged for another item because its unique. For example, one piece of Art is not equal to another as both will have unique properties.
Basically, NFTs are tokens that lives or survives on a blockchain and represent ownership of unique items. These NFT tokens in general will contain bit of information specific to it, such as unique token name, symbol etc.. and will be owned by the creator or artist of that token.
These NFT tokens will be sold by performing sell & buy transactions on the particular blockchain.
Methodology
In this dashboard, we will analyze the retrospective of NFT market on Ethereum chain in the year 2022, assessed in terms of below metrics:
- NFT project with highest volume of trades in 2022
- NFT project which had the largest mint by dollar
- NFT project that has decreased the most in value this year
- NFT project that has gained the most value this year
- What was the price of the highest-selling individual NFT
- List of NFTs that had the longest hold time this year
- NFT project that had the least amount of NFTs listed for sale on an exchange
- NFT project that had the most NFTs listed for sale on an exchange..
The data for this analysis has been derived using ethereum.core.ez_nft_sales table based on the timestamp starting 1st January 2022.
NFT Projects with highest volume of trades in 2022
Here is the visual that shows the top 10 NFT projects or collections on Ethereum chain based on the highest volume of trades performed since beginning of the
year 2022.
Which NFT project had the largest mint by dollar?
List of NFTs which had the longest hold time this year
What was the price of the highest-selling individual NFT?
Which NFT project gained the most value this year
Which NFT project decreased the most in value this year?
Which NFT project had the least amount of NFTs listed for sale on an exchange?
Which project had the most NFTs listed for sale on an exchange?
Observations
From this graph,. we could observe that the NFT Collection “terraforms” records maximum trade volume of around 12.19B when observed in the year 2022.
“meebits” appears to be the second NFT project which records highest volume of approx. 9.62B during the year 2022.
When we look at the top 20 NFT collections which had the largest mint by dollar amount since the beginning of 2022, it is clear that the largest mint measured in terms of dollar amount has been noticed for “moonbirds” collection, followed by “world of women” NFT collection in the next consecutive position.
Findings
In this visual, we could clearly see the list of Top 10 NFTs that had the longest hold time (measured in days) since 1st January 2022, out of which the NFT collection “hooties” grabs the maximum hold time comparatively i.e. 179.5.
“sunday morning in Paris” seems to be the second NFT project holding the longest time i.e. 173 days approximately.
In terms of NFT projects according to the total sales price of highest-selling individual NFTs since 1st January 2022, “meebits::13824” records the highest sales price of around 49.59M, followed by “meebits::9711” NFT with sales price 48.25M standing in second place.
Findings
Here is the visual that represents the list of top 10 NFT collections which has gained the maximum or most sales value in the year 2022.
If we look at this closely, “More Loot” NFT project appears to be the one which has gained the maximum sales value during 2022.
If we look at the list of top 15 NFT projects that has decreased most in value in the year 2022, it is clear that “Autoglyphs"“ NFT project outstands in the first place, with a maximum decrease in terms of Sales volume during the year 2022 on Ethereum chain.
When we look at this visual showing the list of NFT collections that had the least amount of NFTs listed for sale on Exchange, it is observed that “spheroid universe”, redeemable blankos”, “geomatrix”, “digital trash” etc.. NFT projects had the least amount of NFTs listed for sale on exchanges in 2022 i.e. 1.
Conclusion
On seeing all the above graphs or visuals, here are few observations with respect to the retrospective of NFTs during the year 2022.
-
The largest mint measured in dollar value has been recorded for “moonbirds” collection, followed by “world of women” NFT collection in the next consecutive position.
-
“More Loot” NFT project appears to be the one which has gained the maximum sales value during 2022.
-
In terms of NFT projects according to the total sales price of highest-selling individual NFTs since 1st January 2022, “meebits::13824” records the highest sales price of around 49.59M, followed by “meebits::9711” NFT with sales price 48.25M standing in second place.
-
NFT Collection “terraforms” records maximum trade volume of around 12.19B when observed in the year 2022.
-
Also, a maximum number of NFTs have been listed for sale on exchange for “Art Blocks” collections, with NFTs count of around 54.06K.
\
References
When we look at the most popular NFTs listed for sale on the Exchange during the year 2022, it is evident that maximum number of NFTs have been listed for sale on exchange for “Art Blocks” collections, with NFTs count of around 54.06K.