It's the Catalina Whale Mixer

    Q73. Catalina Whales are a popular NFT collection on Solana with an experienced team from the entertainment industry. Chart their sales history and unique holder trends over time. The project has a tier system of holders (5 whales gets you tier 2 status and 10 whales gets you tier 3 status), has this noticeably influenced wallet activity? The project recently announced that you had to own a whale before 5/11 at noon EST in order to qualify for the whitelist of an extremely hyped mint Bubblegoose Ballers along with other benefits. How has that influenced sales activity and holder activity over the past few weeks?"

    Introduction

    "The Catalina Whale Mixer was created for all Whales; in life, in business, and in culture. It was created for those who refuse to live within the limitations others set for you, who take risks, work hard, party hard, and live life to the fullest.

    The Catalina Whale Mixer is a web3 global entertainment franchise, created with you and for you."

    This is how one of the most successful Solana NFT projects from 2022 presents itself. A collection of 5,555 NFT which minted on December 17th 2021 for a price of 1 SOL and are currently trading at a floor price of 130 in Magic Eden. I guess this whales don't need saving...

    Source

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    Methodology

    Several queries have been done joining the solana.fact_nft_sales sales with the solana.dim_nft_metadata constraining the results to project_name = 'Catalina Whale Mixer'.

    From this joined table daily sales numbers, volume numbers and unique holders are queried, also differentiating by marketplace.

    Cumulative values are queried separately only aggregating by day (not marketplace), as well as aggregation by holder address for to obtain the number of purchases per wallet.

    Results

    Sales History

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    Figures 1. and 2. show the number of sales and sales volume by day and by marketplace in a log scale. Both metrics show a very high activity on the first day and a significant decline afterwards (hence the log scale to help visualizing. Sales volume compensates more than number of sales due to the higher price, and for the past 4 weeks has seen volumes between 35% and 55% of the ATH.

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    Figure 3. shows the number of unique purchasers over time. Similar trends as for igure 1. can be seen.

    Figure 4. shows the total number of sales by marketplace. The dominace of Magic Eden is by a landslide, considering both versions they move almost 98% of the NFT collection.

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    Figures 5. and 6. show the cumulative number of sales and volume in SOL. The big increase in number of sales in concentrated on the first two days, when over 50% of the sales happened while the volume takes two months to get halfway. Since April 24th there is an accelerated slope on the cumulative volume, meaning new hype for the project.

    Figure 7. is an alternative visualization of the cumulative metrics where the acceleration can be clearly identify between 110k and 120k sales and 10k and 12k number of sales.

    Catalina Purchasers - Tiers and Whitelists

    Figure 8. shows the number of wallets per Tier. Since over 90% of the total purchasers would fall in Tier 1 even if they sold no NFT purchased, I assume the Tier system has no big influence on sales.

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    Figures 9. 10. and 11. show number of sales, sales volume in SOL and unique purchasers for the past 3.5 weeks. Late April shows higher values on all metrics as currently, with a no clear trend since a lot of single days have a high value compared to their local trend.

    Regarding the Whitelist announcement, the number of sales and sales volume start pumping since May 6th. The ramp is especially visible on sales volume. On the other hand, unique purchasers don't show such a clear upward trend. But what all three metrics share is a drastic reduction on May 12th - the project show a local low on all three. Most probably the market needed a pause after the hype with the whitelist but a short one - one week after levels are the same or higher as on May 11th.

    Conclusion

    Catalina Whale Mixer is a cool and successful project which even aims at having a TV-show - "Think South Park meets Silicon Valley for the NFT & crypto generation".

    With a 130x in price since mint, a thrilling demand as seen by the recovery of last week since the Bubblegoose Ballers whitelist announcement and the accelerated slope in the cumulative sales numbers, these whales need no saving... somebody better save the other NFT projects from them!