What is X2Y2 ?

X2Y2 is an emerging NFT marketplace that launched in February 2022. X2Y2 rivals OpenSea (the largest NFT marketplace), featuring bulk-listing, rarity tracking, and real-time notifications. This platform is dubbed as “the decentralized NFT marketplace by the people, for the people,” and envisions itself to give back to the community.

Recently, X2Y2 announced it will no longer make buyers pay royalties on certain NFT purchases, sparking debate on the importance of such payments to the industry. Buyers on X2Y2 can now choose the amount of royalties they would like to contribute to projects.

What is Solanart ?

Solanart is the first and largest fully-fledged NFT marketplace based on the Solana network that allows anyone to acquire or sell Solana-based NFTs. Solanart’s goal is to help promote artists and creators by providing them with a trusted marketplace to share their art. The platform does not charge a listing fee, but they do charge a transaction fee of 2%. The platform only showcases a limited number of projects from certain artists and creators can also set their royalty fees and get paid once a sale is made. This Solana NFT marketplace supports almost all Solana-based transactions.

Methodology

In this dashboard, We are going to mainly use solana.core.fact_nft_sales and ethereum.core.ez_nft_sales tables to analyse some data about X2Y2 and Solanart marketplaces in Ethereum and Solana chains during the past 2 months (last 60 days).

ethereum.core.ez_nft_sales table has the price_usd column and it made our work easy to calculate the USD volume of sales on X2Y2 but for Solanart, since sales amounts on solana.core.fact_nft_sales table is in SOL, we have to calculate equal USD value of SOL by using solana.fact_swaps table and SOL swaps with stable-coins such as USDT and USDC.

Within the last 60 day sX2Y2 surpassed OpenSea (the top NFT marketplace) in volume. Much of X2Y2’s volume comes from the launch of Tokenomics 2.0 which has reduced transaction fees to 0. This was done strategically to encourage the listing and trading of high-quality digital collectibles on the platform as well as reward active users for their loyalty.

Overall Stats During Past 2 Months

According to the above charts, there is light increasing trend in number of users on both platforms over time but the trend line of sale volume is decreasing over time.

We can see high activity of Solanart sales and especially users (both buyers and sellers) during the recent days to the extent that the number of new users on this platform is kinda overtaking X2Y2 and this shows the satisfying growth of Solanart in users. The highest activity of users on these platforms was achieved on 10th August and also 19-20 September. Also the most number of new users have registered on these platforms after 20th September and especially on 23th.

in terms of Volume, X2Y2 sales have quite higher volume than Solanart and as mentioned, the total sale volume of X2Y2 is decreasing over time but on Solanart, there is more and more daily sale volume over time and we can see some spikes of high sale volume on this platform during recent days.

Daily and Over-Time Stats During Past 2 Months

Purchasers Stats During Past 2 Months

During the past 60 days, The average number of sales in a day was 4,726 on X2Y2 and 169.8852 on Solanart. The average number of buyers and sellers and also the average number of traded tokens on X2Y2 is more than Solanart.

The different between these 2 platforms is even more on daily average volume while the X2Y2 has 18.36M USD and Solanart has only $41.60k !

During past 2 months, an average buyer on X2Y2 has performed 5.188 purchase transactions and this number is 2.54 (almost half) on the Solanart. Moreover, the average purchase volume of a buyer on X2Y2 is $20k while this number is quite lower ($622) on Solanart.

The number of purchasers who have spent totally $100 - $1000 on purchasing NFTs on both platforms is more than other types. Also, we can see most number of buyers on Solanart have only performed one purchase transactions but on X2Y2 most number of buyers have performed 2- 10 purchase transactions.

0xaa5d1125dcd349455dc5f04911bcb315af10c847 was the most active NFT buyer on X2Y2 during past 60 days with 805 purchase transactions, while on Solanart, 8TeymQz7HoxvgW7aV4jJNdyGvZLCiKP2DQM6Ug4kDzBB is the top one with only 47 purchase transactions.

0xc935aaa23734fce35843829d2a39c3920172a0d6 has spent the highest volume for purchasing NFts on X2Y2 during past 60 days with the significant volume of $184.253M(!!) volume while on Solanart, 7pnTs8HeE392mAZjjZKFtq2avUnNtdA4o6VGEH3vKuJk is the top one with only 132.79k spent volume.

0x1277f5266dead289eb6ab3f97a866f5854feb33d on X2Y2 have purchased most number of various collections (26 different projects) while there are 4 users on Solanart that have purchased most number of different collections (4) on this platform.

Sellers Stats During Past 2 Months

During past 2 months, an average seller on X2Y2 has performed 7.07 sale transactions and this number is 3.45 (almost half) on the Solanart. Moreover, the average sale volume of a seller on X2Y2 is $20k while this number is quite lower ($845) on Solanart.

The number of sellers who have spent gained $100 - $1000 from selling NFTs on both platforms is more than other types. Also, we can see most number of sellers on Solanart have only performed one sale transaction but on X2Y2 most number of sellers have performed 2- 10 sale transactions.

0xe0268949232a2fb9099f31faca947c12ffb54f89 was the most active NFT seller on X2Y2 during past 60 days with 1094 sales transactions, while on Solanart, DZi3BveDiCqU3VTe3rmVzkSZKY2sbrEe2FyuX1X7sU7w is the top one with only 167 sales.

0xa854772db43b52d7b456c2b5a40bd41627b316c2 has gained the highest volume from selling NFTs on X2Y2 during past 60 days with the significant volume of $184.253M(!!) volume while on Solanart, GpDNtDTXyWZzyTRNN6dfEDUyLvwf6P2MVWqdidwLbc7q is the top one with only 112.01k gained volume.

The weird thing is the exact equal volume of sales by the top 4 buyers and sellers on X2Y2 !!

0x5265dcfe39e41779eaee9ca59a37bc69782186f9 on X2Y2 have sold most number of various collections (44 different projects) while the user address 4RsfhJ6bBgLbg2YdTyiSmrWp38AMhhwrDZVboDuuPp4D on Solanart have sold most number of different collections (15) on this platform.

Top Collections Stats During Past 2 Months

On the above charts we can see the top 5 collections in both terms of sales count and sale volume on both platforms during the past 60 days.

On the above, I am going to calculate number of sales and also volume of sales for these top collections on these platforms during the past 60 days.

As we see on the above charts, both sales count and sale volume (especially volume) of top X2Y2 collections is wway more than Solanart during the past 60 days.

On X2Y2, There were total 283.596k sale transactions made by 54.664k buyers and 55.041k sellers with 15.032k tokens during the last 60 days. While, the number of sales on Solanart in the same timespan was 10.363k transactions made by 4074 buyers and 3001 sellers with trading 9075 trading tokens. X2Y2 owns Solanart in all of these terms.

The total Volume of sales on X2Y2 during this timespan was more than 1.10B USD while this amount was only $2.53M on Solanart !! The average sale volume on X2Y2 is $2284.83 and the median amount is $26.81 while the average sale volume on Solanart is $244.879 and the median amount is $71.51. X2Y2 is the top platform in all volume-terms except the median volume that Solanart has more median volume of sales compared to the X2Y2.

Moreover on the right chart we can see most number of sales on both platforms are worth between 10 - 100 USD. Number of sales with more than $1000 volume on X2Y2 is lightly more than Solanart.

Conclusion

• On the above analysis, We have realized the X2Y2 platform is mainly used by high-weighted users and the number of transactions and also users and volume on this platform is quite more than Solanart. We can say there are way more whale activity on X2Y2 compared to the Solanart.
• But in its own way, Solanart is performing well especially in attracting the new users over time and we can see more activity of this platform sales during the recent days especially after September.
• Also, Solanart is way faster and cheaper than X2Y2 that every regular NFT users can afford buying tokens on Solanart without having to pay volume for purchasing or paying fees.
• On both platforms, The sellers are more active than buyers and their sale activity is more than buyers’ purchase activity during recent months.
• The top collections on X2Y2 have performed really better than Solanart during recent 60 days.

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