What is RandomEarth?

RandomEarth.io is an NFT marketplace on Terra. RandomEarth came right after Knowhere Art as the second NFT marketplace on Terra. RandomEarth quickly became the most popular on the Terra blockchain with the largest user quantity. RandomEarth is the initial marketplace as well as a minting site for the well-known Galactic Punks. (source)

What are the top projects on RandomEarth?

First, we need to define the top projects on RandomEarth. There are a number of metrics that can define the top projects. For instance: daily volume, floor price, item count, average price etc. If we define 'top projects' as the most popular projects, we can quickly rule out some of the metrics above. Floor price, item count and average price do not determine the popularity of a project because they can be artificially chosen by the product creator or the product NFT owner. Daily volume seems to be the best metric for popularity, as volume determines the interest in a product. If a project has high volume, it means that there are many transactions for NFT's in that project.

Daily volume might be a good metric to judge the popularity on a given day, but daily volume can be highly volatile. This means that projects that are popular today might not be so popular tomorrow. For this dashboard, we want to determine the projects that are popular over a longer period of time. Therefore, we will use the average daily volume over the last 30 days to determine the projects that are popular over a longer period of time. Also, we will add the constraint that projects have to be on the market for at least one week, as some projects that just came out have really high volume, but we do not know if these projects are able to maintain this volume. Therefore, we define the top projects on RandomEarth by the daily average volume over the last 30 days for projects that are at least 7 days on the market:

UST Volumes

LUNA Volumes

The table above shows the top 10 projects together with their average volume in LUNA. The column 'N_DAYS' contains the number of days the project is on the market. The number of days is capped at 30 if the project is more than 30 days on the market. Only two projects in the top 10 are less than 30 days on the market: WagmiMonkeez and Galactic Baby Ape Club.

Next, we will look at the percentage differences in LUNA and UST volume of February 10th 2022 compared to 30 days prior, February 12th 2022. For the project that did not exist yet on February 12th, we will use the volume of the first day of launch to calculate the percentage difference.

The graphs above, show the percentage difference, as well as the absolute differences in volume. As can be seen, BabyBulls and LunaBulls showed the most percentage increase over the past 30 days. The only other two projects that showed an increase in volume over the past 30 days were the Levana Dragons project and the Levana Dragons Meteors project. All other projects showed a decrease in volume. Galactics Punks's volume was relatively stable with only a 13% decrease. The project Galactic Baby Ape Club showed the most decrease in volume, with a whopping 96%. Levana Dragon: Eggs also decreased significantly, at almost 60%.

UST volumes look largely similar to LUNA volumes. Only difference is that Levana Dragons Meteors 's volume increased 9% in terms of LUNA, but decreased 20% in terms of UST value.

Conclusion

Of course, these results do contain some caveats. Given that NFT volumes are so volatile and we looked at volumes at specific dates, we do have to realize that the results could have been very different if we picked other dates. We tried to deal with this volatility by picking the top projects based on average volumes and by picking projects that were at least 7 days old. Keeping this in mind, we were still able to formulate the following key takeaways:

• BabyBulls saw the highest increase in volume in LUNA and UST: 1400% and 1000% respectively.
• LunaBulls also saw a high increase in volume in LUNA and UST: 500% and 340% respectively.
• Galactic Baby Ape Club saw the highest decrease in volume over the last 30 days: around 96% for both LUNA and UST
• Levana Dragon: Eggs also saw a significant decrease in volume over the last 30 days. A 60% and 70% decrease in volume for LUNA and UST respectively.
• This means that BabyBulls and LunaBulls seem to be trending, while Galactic Baby Ape Club and Levana Dragon: Eggs seem to be fading based on the data above.