Try Quests to earn SOLOpen Analytics - 2. Solana Open Analytics
Introduction
Background
Hyperspace is a marketplace for exchanging Solana NFT and NFT flex information and services. Hyperspace has developed a new NFT market aggregator that works in tandem with the Solana NFT analytics dashboard, allowing for a more targeted approach to trading NFTs. Because of this, its customers will be able to purchase NFT from any of Solana's major NFT markets. The evaluation platform will also function as a launch pad for new NFT collections to be displayed on the Solana blockchain.
Blur is the NFT marketplace for pro traders. We started Blur because we wanted a faster platform for trading NFTs ourselves. None existed with the capabilities we needed, so we built it.
Blur lets you to sweep and list across marketplaces, snipe reveals, and manage your portfolio faster than anywhere else.
Method
This dashboard is made to compare two new NFT marketplaces on two important blockchains affected by FTX's bankruptcy in the current month (November, 2022).
Normally, when a black swan appears on the finance markets, the newly stabilized projects are exposed to more risk. So I have chosen Blur and Hyperspace as the two newest NFT marketplaces on Ethereum and Solana chains, to assess how they are affected by FTX's bankruptcy as the newest black swan in the cryptocurrency’s market.
For this purpose, the solana.core.fact_nft_sales and ethereum.core.ez_nft_sales tables were used to assess the aforementioned metrics over time.
Also, the ethereum.core.dim_nft_metadata and solana.core.dim_nft_metadata tables were used to determine the traits of the most popular NFT collection on both platforms.
Because these marketplaces are still in their early stages, the information displayed in this dashboard is from September and October for Hyperspace and Blur, respectively.
✍🏻 Conclusion
As of findings above:
- The Solana blockchain has typically been the most impacted by the FTX bankruptcy. Subsequently, Hyperspace, as one of the new founded marketplaces, has also been impacted.
- On the other hand, this event has had less effect on Ethereum network, and the potentially huge airdrop that has been officially announced by blurdao.eth, makes it more appealing to NFT traders whose tend to be Airdrop exposure.
About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
Hyperspace VS. Blur
Since freshly founded enterprises typically face the most danger when a "black swan" event occurs in the financial markets, I chose Blur and Hyperspace as two newly stablished NFT marketplaces on the Ethereum and Solana chains, respectively.
This dashboard is made to compare this two platform affected by FTX bankruptcy.
The assessed metrics are include:
> * New & active users over time. > * Sales count and sales volume over time. > * distribution of sales volume > * Collection performance in deferent time periods
Hey there 👋!
Firstly, I appreciate you sticking with it until the conclusion.
I'm Hamed, a civil engineering Ph.D.
student interested in data analysis.
I've made many similar dashboards and visualizations since I started at Flipside in January.
Please take a look at my various contact details and let me know what you think.
:mag_right: Findings:
As of first chart above the sales count on hyperspace peaked at 1.114K in Oct 9th, then fell down to below 100 per day in Nov 5th, but raised affected by FTX event to 325 per day in Nov 12th and went on a cyclic pattern to date.
Also, on Blur marketplace the peak of sales count took in Dec 4th at 7.14K and then fell to 1.2K in Dec 13th.
In the other hand, according to next above chart the sales volume on hyperspace peaked at $311K in Nov 9th, while in Blur the highest volume of sales reached at $19.7M in Nov 2th, although fell down to blow $1.5K in Nov 12th, but raised again in recent days.
The average sales price ($) and 7-Day Moving Average clearly show the dramatic effects of FTX bankruptcy on hyperspace, but the FTX event had no significant impact on Blur.
Totally, $3.2M in sales volume took place through 20.8K transactions on Hyperspace, while $296.61M sales volume took place on Blur during 195.1K transactions, that indicate the FTX event have had the huge effect on hyperspace.
The scatter plot right shows the platforms by sales count and volume, with the marker size indicating the number of unique buyers.
- We see that higher volume platform generally draw more buyers and sales count, but we do see outliers that its match with the Nov 12th’s bat in Sales volume chart.
:mag_right: Findings:
As of current section graphs, only 7 projects has founded on Blur platform for 7D percentage change volume, that BAYC is the top collection with the highest sales volume.
For the top 7 collections (by total sales volume), no one had declining volume and buyer interest. The table below presents the total volume, buyers and sales count of the top collections on Blur in the last 7, 14 and 30 days.
:mag_right: Findings:
As of current section graphs, 10 projects has founded on hyperspace platform for 7D percentage change volume, that Degen Apes is the top collection with the highest sales volume.
For the top 10 collections (by total sales volume), 5 had declining volume and buyer interest. The table below presents the total volume, buyers and sales count of the top collections on Blur in the last 7, 14 and 30 days.
:mag_right: Findings:
Hyperspace's official launch date was September 22nd, and Blur has began on October 19th.
The hyperspace’s new buyers & sellers peaked at 264.1K in Oct 9thm and then fell down to below 50 ppl per day to date, while in the Blur after first publics day, in the second day the highest number of new sellers and buyers interacted with platform by 6.69M users.
Totally, 73.33M new users in Blur & 948.5K in hyperspace has interacted since launch date.
:hourglass_flowing_sand: Distribution of buyers based on Sales Volume
The PIE graphs right show the distribution of volume bought range of each platforms.
As can be seen in Blur platform, 35% of buyer’s bought volume was in the range of 100 to 1000 $USD, and for Hyperspace is percentage is 40%.
Overall, distribution for both platform approximately are the same.
As of bar charts right, in Blur marketplace, each user has bought almost 4 NFTs on average. Also, the average purchase of each user was 4 ETH.
While these params for hyperspace are 25 & 5 Sol, respectively.