In this dashboard, our objective is to answer these questions using some data that we have;

-How do market conditions affect Terra NFT price movement?

-What is the correlation between the floor price of Galactic Punks, LunaBulls, and Levana Dragon Eggs with the price of LUNA?

-Does market volatility change how people trade "bluechip" Terra NFTs?

-Do you think NFT buyers/sellers price their assets in UST or in LUNA?

-Do your findings align with Ethereum NFT market trends or does the prominence of UST make the Terra market different?

1. How do market conditions affects Terra NFT price movement.

Graph below shows daily volume of NFT trading across Randomearth and Luart against the $LUNA price. We can see that the volume goes up when price of $LUNA goes down as we can see from January second week.

2. What is the correlation between the floor price of Galactic Punks, LunaBulls, and Levana Dragon Eggs with the price of LUNA?

Graph below shows the floor price sales of GP, LB and Levana Eggs. We can see that at end of last year when $LUNA at its ATH, the floor prices of the three project was at stagnant (same thing can be said about total NFT sales). The start of Terra NFT boom can be seen after $LUNA dropped from $91 to $68 on second week of January. From there on, the floor sales of GP, LB and Levana Eggs has start rising.

In conclusion, I don't believe the price of $LUNA affects the NFTs transactions but I do believe that $LUNA price tanked causing the NFTs boom to start. I also believe the reason why Terra NFT suddenly booming was thanks to $LUNA and $UST able to withstand the crash of whole crypto market. Many people especially from outside of Terra ecosystem gain faith in Terra and rotate into Terra ecosystem. From my observation on Twitter, most that rotates to Terra NFT are from Solana ecosystem. I believe that NFT will be here to stay and we will still going to actively trade JPEGs five years from now.

3. Does market volatility change how people trade "bluechip" Terra NFTs?

In this section, we have to define what are bluechip Terra NFTs. To me, bluechip NFT are NFTs project that people outside of Terra community know about. There are 3 bluechip NFT currently, which are Galactic Punks, LunaBulls and Hellcats. These 3 NFTs has the highest volume traded thus far, assuming each stage of Levana are individual projects. Let's take a look at the daily sales volume against the price of $LUNA and $BTC.

First let's see the daily volume for Terra NFT on Randomearth and Luart. The rise in Terra NFT started on 13th Jan with ATH on 17th Jan with over 25k $LUNA transacted for the 3 NFTs projects. The past few days, we saw that Hellcats take over as NFT with highest daily volume.

If we plot the sales volume against $LUNA and $BTC price, we can see that Terra NFTs was sparked few days after $LUNA dropped from $90 to sub $50 for the first time. The $LUNA and $BTC price has bounced since ATL and we can also see that volume is higher compared to when the prices of $LUNA and $BTC was at ATH.

4. Do you think NFT buyers/sellers price their assets in UST or in LUNA?

For this part, we will take a look at sales volume on Luart and compare sales transaction and volume by currencies buyer paid.

We can see that transaction paid in $LUNA usually around 85-90% of total transactions on Luart and even higher if we see take a look by volume. From sales volume vs LUNA price, we also see that sales volume increased when $LUNA crashed from $90 to $68.

5. Do your findings align with Ethereum NFT market trends or does the prominence of UST make the Terra market different?

In this part, we will compare the transaction count on Opensea vs $ETH and transaction count on Randomearth(+ Luart) vs $LUNA

I cannot find any commonalities except that both $ETH and $LUNA price goes down.