Try Quests to earn FLOWRaceDay NFTs
The Addressed issues in this dashboard are include: How does Speedway Motorsports RaceDay NFTs stack up to sports NFT collections in the FLOW ecosystem? What other projects are RaceDay fans buying? The assessed Metrics: Average Sales volume Total Sales Volume Secondary Sales vs. Mint Sales Daily Average Sales Price and 7-day moving average Total Unique Buyers Average Buyers/Day Social Mentions/Shares Cross-Project comparative assessed metrics: Other collections RaceDay fans are buying Purchase frequency, or the distribution of tokens owned per wallet Average Number of NFTs held per wallet Average Purchase Price of NFTs held by RaceDay fans BONUS: Find free redemption buyers to future buyers, i.e., were first time purchasers someone that claimed a free NFT previously, or, was their first experience with RaceDay an actual purchase.
✨Introduction
Dapper Labs' Flow blockchain is a fast, decentralized, and developer-friendly system that powers NFTs and digital collectibles for some of the greatest brands, including the NBA, UFC, CNN, Warner Music Group, Dr. Seuss, Ubisoft, and more. Flow takes advantage of a Proof-of-Stake architecture that is ecologically friendly and uses far less energy than Proof-of-Work blockchains like the Ethereum network. Canes Vault is built on the Flow blockchain because of its eco-friendly architecture, scalability, and the wide variety of projects that are using it. Link
Fans of racing will appreciate RaceDay NFT, the first-ever NFT marketplace dedicated to the sport. Some of the most recognizable names in motorsports will be represented in digital collections on RaceDayNFT.
A non-fungible token (NFT) is a one-of-a-kind digital content collectible that is sanctioned by the relevant licensing organization. Blockchain technology, which is used for items like bitcoins, authenticates and verifies ownership of the NFTs. This means that while it's possible to make numerous duplicates of a movie, photograph, or even an animated present and distribute them widely online, only one can be guaranteed to be the real deal. You can purchase, sell, and trade them just like any other item.
🛠️ Method
Using the flow.core.ez nft sales database as the primary data source, we will conduct a comprehensive analysis of the RaceDay nft project in this dashboard. Two components make up this dashboard: In this first section, I've broken down the specifics of RaceDay NFT's market, including its buyers, sellers, holders, and mint. As for the second component, I have compared the crossover data in this set to previous Flow NFT initiatives. A.329feb3ab062d289. RaceDay NFT is the address where the contract for the RaceDay project may be found. RaceDay NFTs can be purchased in a number of different currencies (FLOW, FUSD, and the Dapper Utility Token). Since all other cryptocurrencies except FLOW are stablecoins, the USD value of sales in FLOW must be converted to its average USD value of that day (using the flow.core.fact prices table). Only completed deals have been taken into account. Using the flow.core.fact events table (with the filters "event name = "mint" and "event contract = "A.329feb3ab062d289.RaceDay NFT"), I was able to pull out the Mint information pertaining to this project. In order to better see the names of other collections, I have removed the unnecessary letter from the names of those collections so that only the names of those collections appear in the charts. For the sake of the crossover section, I have mostly assumed users who have purchased RaceDay NFTs first and then purchased other collections, as these are the most likely to be interested in the crossover. (The purchase date and time for RaceDay NFTs are earlier than the purchase date and time for the other collections.)
✍🏻 Conclusion
Based on the findings, we can conclude that Speedway Motorsports RaceDay NFTs have a growing presence in the sports NFT market on FLOW. The collection has shown steady growth in both the number of unique buyers and the total sales volume. RaceDay fans also tend to purchase NFTs from other sports-related collections, with TopShot being the most popular.
The average sales volume and average purchase price of RaceDay NFTs have been increasing over time, indicating growing demand for the collection. The highest daily sales volume and sales price occurred in April 2022.
The cross-project comparative assessed metrics show that RaceDay fans are active buyers in the NFT market and tend to hold a higher number of NFTs per wallet compared to other collections. The average purchase price of NFTs held by RaceDay fans is also higher than other collections.
Overall, the findings suggest that the Speedway Motorsports RaceDay NFT collection has been successful in attracting a growing number of unique buyers and generating increasing sales volume. The collection has also gained a significant following among sports NFT enthusiasts and is a strong contender in the FLOW ecosystem.
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.
About:
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Author: HaM☰d
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🔎 Findings:
It's interesting to see that there have been a significant number of trades on the RaceDay collection, with over 800 buyers and sellers involved. The combined total value of the tokens exchanged is also noteworthy, with a value of $167K.
The average sale price of $24 and the median sale price of $7.4 indicate that there is a wide range of prices for the RaceDay tokens. The high volume of purchases may be the reason for this discrepancy between the average and median sale prices.
It's also noteworthy that the sales value can vary significantly depending on the chosen currency exchange rate, with sales ranging from $0.000013 to $14.75K. This suggests that RaceDay NFTs may be traded across multiple currencies, which could impact their value in the market.
🔎 Findings:
Based on the visuals provided, it appears that the average sale volume of the RaceDay NFT collection has been on an upward trend over time, with some fluctuations. The peak in sales transactions and count of unique buyers and sellers occurred on April 18th, and the highest sales volume took place on April 25th, with nearly 500 FLOW.
The moving averages for 7 and 50 days are depicted in the above right chart, which may provide insights into the overall trend in sales volume over a longer period of time.
The right chart shows the average number of buyers and sales count per week, which can be adjusted to display daily or monthly data by changing the time interval. After reaching its highest level on October 21st, 2021, the average number of buyers and sales count decreased until April 20th, 2022, and has been on a smoothly upward trend since then.
Finally, the sales metrics per month of the year are shown in the following charts, which may provide insights into seasonal trends or changes in buyer behavior throughout the year.
⏳ Secondary Sales vs. Mint Sales
The number of minted RaceDay NFTs is much higher than the number of secondary sales transactions, indicating that many of the NFTs that were minted are still being held by their owners and have not yet been put up for sale on the secondary market.
However, there are some days where the number of secondary sales buyers exceeds the number of minters. This could be due to a number of factors, such as increased interest in the project or a sudden influx of new buyers who were not involved in the initial minting phase.
Overall, it's important to keep in mind that the secondary market for NFTs is a relatively new and rapidly evolving space, and it can be difficult to predict market trends and buyer behavior with complete accuracy.
🔎 Findings:
The charts indicate that a significant number of RaceDay NFT fans have interacted with other NFT projects, with almost 30% of RaceDay buyers purchasing other NFTs as well. However, the majority of the bought volume is allocated to other projects, with only 0.6% of the volume going to RaceDay NFTs. This indicates that while there may be some crossover between RaceDay NFT fans and fans of other NFT projects, RaceDay NFTs have not yet gained as much traction in the wider NFT market as some other projects.
🔎 Findings:
According to the data presented in the current section, the TopShot collection has a much higher rate of consumers' cross-projecting with the RaceDay NFT collection than any other collection. It is clear, however, that the AllDayNFL NFT collection has far more total NFTs than any other.
Initially, RaceDay fans were the most active buyers of tokens from the Rarible NFT project, but in more recent months, UFC NET and TopShot have taken the lead.
More than that, the graphs show that over time, both the number of crossovers and the amount of money spent by RaceDay enthusiasts on purchasing other collections has been rising steadily.
Moreover, Sport-Related Collections play a crucial role in the most successful initiatives.
The single number right show the average purchase price of NFTs held by Raceday fans & average number of NFTs held per wallet.
⏳ New Buyers in total and over time
Based on the above charts and data, we can see the average sale volume (~tokens price) of RaceDay NFT collection is increasing significanlty over time.
We can see high activity of RaceDay collection sales after Late-April, May 2022 till today.
The day with the highest number of RaceDay sales and traded tokens is 28th April 2022. (213 tokens and sales)
The day with the highest volume of RaceDay sales is 20th April with 4423 USD volume.
If we seperate charts into 2 equal parts, the activity on the second (recent months) part is way more than first part and this shows the growth of this collection over time. But, we can not say there is a quite increasing trend of activity over time.
Most number of new users have purchased this NFT collection on last week of April (over 120 new users).
BONUS:
⏳ Free redemption buyers to future buyers
In the following visuals tried to find Free redemption buyers to future buyers over time.
For this sections, I used some metrics as below to investigate user activities after and before Raceday NFTs buying.
NEW NFT Buyers, those who buy a NFT for the first time.
New NFT Interactors, those who interacted with NFT marketplace (mint, list, transfer, buy) in the first time.
New Users & 1 Day Active, those who have performed transactions on 2 or more distinct days.
New Users & 1 Tx Active, those who have performed one or more transactions.
🔎 Findings:
As of charts above, can be seen, second half of Feb till early of May Cros-projects NFTs users have had most interactive with NFT marketplaces. so that, in Mar 8th, the highest level has touched.
The percentage of Cross-Project New Users is in smootly increase after dropping in Nov, 22th, 2021.
The growth rete is in smootly upward trend sins Jan 10th.
The percentage of growth rate increased after dropping in Nov 22th, 2021.