Try Quests to earn AVAXArbitrum NFT Market Analysis
In this dashboard, we are going to analyze the daily sales volume of NFTs on Arbitrum and see which collections are the most popular among users, which NFTs are the most sold, and the what is the number of active NFT traders. How much is Fee in this network and has it affected the activity of users or not?
Technical Details
Given that the Arbitrum database tables have not yet been completed on FlipsideCrypto, to find NFT trading transactions, we looked for records in the arbitrum.core.fact_event_logs table whose events are of the Transfer type (with the ETH transferred value greater than zero) and it must contain event_inputs:tokenId.
We also make sure that this transaction is not of the Mint or Burn type (it was not sent/received to/from the Null address) .
details of this pattern can be found in SQL code.
Important Tip
- Due to the incompleteness of the Arbitrum database data, all analyzes have been performed for June 23 onwards.
Daily Trades
In the first step, let's look at the number of daily sales of NFTs. Also, how much ETH was spent to buy NFT on Arbitrum on daily basis?
The following four graphs are the output of this analysis:
Key Findings
- 6th Aniversary NFT is the most popular NFT traded in recent days on Arbitrum.
- On June 25 and 27, the daily sales volume has suddenly increased.
- NFT sales for all tokens have dropped dramatically in recent days, possibly due to the bearish market.
Price Analysis
In the next step, we will check out the average price of Arbitrum NFTs and then we get the ten most sold NFTs and the ten collectibles whose average prices are higher than the rest.
Look at the following 3 charts:
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The average price of NFT in Arbitrum is not so cheap (given the current incomplete data, of course).
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Dopex Bridgoor NFT is the most expensive collection on Arbitrum.
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Expensive NFTs are only of a few specific collections, but when we get the overall average sales of NFTs (chart above), other sets come first.
Looking at transaction fees (NFT trades)
In the following analysis, we take a quick look at the average Fee of NFT purchases and checking out the relation between the number of daily transactions and this average.
Look at the following two charts:
- The first thing that emerges from the first chart is the very low transaction fee in the arbitrum blockchain, which is a very significant advantage for the blockchain compared to fee of tens of dollars in Opensea.
- As we expected from L2 layer roll-up solutions , the higher the number of transactions per day, the lower the average Fee.
Mint Analysis
In the following analysis, we will examine the process of minting tokens on Arbitrum.
- Similar to the daily popularity chart of the top ten collections, the mint chart is asymmetric, and on some days, we see a large number of mints being minted, possibly due to specific events associated with them (Arbitrum Odyssey is the root cause for the last week of June).
- Due to the fact that many mints are done for free and as a reward for users, the charts of the collections that had the most mints and the charts of the collections that had the highest volume of sales have no collection in common.
Most Active Users
As a final step, let's take a look at the number of unique users who buy and sell NFTs on the Arbitrum platform on a daily basis and find the ten users who have the most purchases and the ten users who have the most sales.