Analysis on xyz NFTs
Taking a look at a unique metaverse game project on the Terra blockchain
Background on xyz
xyz are a new kind of NFTs that the developers on terra are trying to build in the xyz metaverse. The xyz NFTs represent coordinates in the 3d space. Currently the project is rather open ended and in development, as with many similar projects, so folks can offer their suggestions on future features and integrations with other projects they wish to see~
Things to do
So far, users are able to carry out several actions with their xyz.
- Planet Discovery - users are able to discover up to 3 planets per xyz coordinate. Each planet would have a variety of resources and in different quantities.
- Gather Resources - users are able to gather resources from all planets in their xyz
- Relocate - This allows users to relocate to another xyz coordinate. This would give up any
*Note that each action would require gas and relocate specifically requires significantly more 10UST.
Approach
Deciphering XYZ messages under from_contract:
Planet Discovery - Start Task
{"method":"start task","xyz_id":"xyz #954","task_type":"planet discovery",
"contract_address":"terra1ygy36rw9hdms5dpr5danf8y5yadyltdyr37zdm"}
Planet Discovery - Complete Task
{"action":"mint","amount":5000000,"method":"complete task","planet":{"planet_id":"4118_1639823531.106485031",
"resources":[{"resource_identifier":"xyzMETAL",
"resource_richness_score":1},{"resource_identifier":"xyzROCK","resource_richness_score":1},
{"resource_identifier":"xyzWATER","resource_richness_score":2}],
"coordinates":{"x":-101,"y":51,"z":209},
"discovered_by":"xyz #1701","discovery_time":"1639823531106485031",
"discovered_contract_version":{"version":"0.1.0","contract":"crates.io:xyz-planet-contract"}},
"xyz_id":"xyz #1701","task_type":"planet discovery","to_xyz_id":"xyz #1701","experience_gained":5,
"0_contract_address":"terra1ygy36rw9hdms5dpr5danf8y5yadyltdyr37zdm",
"1_contract_address":"terra14mlj7cr493ym4mxfy3uk0dzm4wkdeslgn26x5g"}
Planet Discovery - Failed Task
{"action":"mint","amount":5000000,"method":"complete task","xyz_id":"xyz #101",
"task_type":"planet discovery","to_xyz_id":"xyz #101","experience_gained":5,
"0_contract_address":"terra1ygy36rw9hdms5dpr5danf8y5yadyltdyr37zdm",
"1_contract_address":"terra14mlj7cr493ym4mxfy3uk0dzm4wkdeslgn26x5g"}
Gather Resources - start task
{"method":"start task","xyz_id":"xyz #841","task_type":"gather resources",
"contract_address":"terra15q74xg3c9prn6snh7u9phxfmmjg2kka2g7y42l"}
Gather Resources - Complete task
{"method":"complete task","xyz_id":"xyz #1475","0_action":"mint","0_amount":79000000,"1_action":"mint",
"1_amount":10000000,"2_action":"mint","2_amount":10000000,"task_type":"gather resources",
"0_to_xyz_id":"xyz #1475","1_to_xyz_id":"xyz #1475","2_to_xyz_id":"xyz #1475",
"experience_gained":10,"0_contract_address":"terra15q74xg3c9prn6snh7u9phxfmmjg2kka2g7y42l",
"1_contract_address":"terra12cwh0fqwe6ua5vgqs5hcmt0erlyv06cr4ven2s",
"2_contract_address":"terra10vqhxq78sddclrxf24cazc4w0hzksw3fkmre7w",
"3_contract_address":"terra14mlj7cr493ym4mxfy3uk0dzm4wkdeslgn26x5g",
"resources_gathered":{"xyzROCK":"10000000","xyzMETAL":"79000000"}}
Contract Address:
xyzROCK terra10vqhxq78sddclrxf24cazc4w0hzksw3fkmre7w
xyzMETAL terra12cwh0fqwe6ua5vgqs5hcmt0erlyv06cr4ven2s
xyzICE terra1dhpps609ugytug8c4p9trp8tsdcf98mz64auwc
xyzGAS terra1pfv7wwjp4qmhaqux9qfuu6ehjrhyqlqwypstwk
xyzWATER terra1nzeaw7f53y40rkknhftt4x0l87wzuzlf428qgv
xyzGEM terra17qae29qaluy074zp00qj9l9jvmevs6hwjy3nlv
xyzLIFE terra1fuw2g0wy8a8scdtlmm2tv38fucdqms9qgpsy6n
xyzXP terra14mlj7cr493ym4mxfy3uk0dzm4wkdeslgn26x5g
Gather Resources terra15q74xg3c9prn6snh7u9phxfmmjg2kka2g7y42l
Minting Contract terra192vcn2julwy7r2cd5prnkmnm3nxsts5sm32ygq
RandomEarth terra1eek0ymmhyzja60830xhzm7k7jkrk99a60q2z2t
This chart looks at the number of transaction completed per xyz as a measure of user activity. Only gather resource and planet discovery transactions as included in the transactions.
In this chart, only 1632 xyz shows up which means that around 3.4% of the total supply is laying dormant in wallets.
On average transactions, each xyz undergoes around 8.6 transactions. This also roughly translates to sufficient transactions to get all 3 planets: 2 per planet and 2-4 more for unlucky folks who needed more trips.
This is another representation of the data above for better clarity.
This pie chart shows that around 42.3% of the xyz NFTs were involved in between 11-15 transactions per NFT. This shows us greater detail on user activity in the xyz metaverse and that most users are consistently interacting on the xyz platform (58.6% of users interacted at least 11 times)
Looking at the distribution of minter's wallet, it shows more than 50% ppl holding between 6-10 xyz. The second largest group consist of 18% of the minters minting between 11-15 xyz.
This is interesting and I might look into this further in another analysis as the first mint had a max of 5 xyz per wallet while the second had a max of 10.
This large mint quantity per wallet might be because of the low mint price (25UST for first 1,000 and 40UST for second 1,000) and xyz being less well known than other projects like Galactic Punks and Luna Bulls.
Approach
from terra.msg_events
where event_attributes:contract_address='terra192vcn2julwy7r2cd5prnkmnm3nxsts5sm32ygq'
and event_attributes:action='mint' and event_attributes:token_id is not null and tx_status='SUCCEEDED'
Related Links:
Recent developments also include the marketplace which enabled resource trading. more info can be found at:
https://planets.collectxyz.com/xyz/123
https://medium.com/@collectxyznft/xyz-a-timeline-and-roadmap-aa151e0c6271
Acknowledgements
Special thanks to Pinehearst on his guidance
Credits to brain_ for the code on KW/RE
Over the past month, there has been on average of 1628 transactions per day.
There has been a peak in 10th Dec when the resource marketplace came out and there would be much more incentive to gather more resources to trade for rarer ones like GEM and LIFE.
Summary
The xyz project is definitely trying to innovate and explore other use cases of NFTs in the metaverse space. This is a new NFTs that users are still continuously interacting with since the launch 2 months ago. Since then, there has been more things that users are able to do!
Even though much of this is still in development, I'm excited to see what xyz has in store for us!
There's a general decline in xyz sales volume on RE. The initial peak was likely due to the 2nd mint occurring on the 22 Nov. This could either mean that folks were actively interactive with the xyz in the metaverse in the month of december or that there's a decline in interest.
On average, the floor price has been rather consistent around 2-2.5 Luna which would roughly translate to around 40-45 xyz sold.