Try Quests to earn SOLNFT Comparison Analysis
Compare and contrast the NFT market and ecosystem across at least three different chains (you can do more if you wish, but there must be at least three included.) Explain how the various chains differ in terms of metrics such as: Total Sales Total Unique Buyers Total Volume Average Sales/Day Average Buyers/Day Average Sales Price/Day
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Introduction
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.
In this article, we will compare and contrast the NFT market and ecosystem across three different chains such as Flow, Ethereum and Solana and analyze how do these various chains differ in terms of standard metrics such as the daily NFT sales volume, daily users who has bought/ sold NFTs, total number of NFTs sold etc.. with supporting visuals.
Methodology
Here first we will look at the NFT statistics for below metrics across various chains such as Flow, Ethereum and Optimism chains using the data derived from ethereum.core.ez_nft_sales, solana.core.fact_nft_sales and flow.core.fact_nft_sales tables.
- Total number of NFT sales
- Daily Total number of NFT sales over the past 6 months
- Daily cumulative NFT sales over the past 6 months
- Total number of Unique buyers who bought NFTs
- Daily Unique buyers count over the past 6 months
- Total number of Unique Sellers who sold NFTs
- Daily Unique sellers count over the past 6 months
- Total NFT Sales Volume across 3 chains
- Daily Total Sales volume in past 6 months
- Overall Average NFT Sales volume
- Daily Average NFT Sales volume in past 6 months
- Top 10 NFT Collections based on total NFT sales count
Observations:
On seeing all the above graphs or visuals, here are few observations:
- Total NFT Sales volume appears to be highest on Ethereum, compared to Solana and Flow block chains.
- In terms of maximum number of unique buyers, who bought NFTs on various chains, a maximum buyers has been observed on Ethereum chain when compared to Solana and Flow chains.
- A maximum percentage of 72% NFT sales has been recorded on Solana, when compared to Flow and Ethereum chains.
- Highest number of unique Sellers count 1.18 has been observed on Ethereum chain, compared to Solana and flow chains.