SOL OpenSea vs Magic Eden

    OpenSea launched its SOL compatibility on 4/6 - giving the SOL NFT landscape access to the largest source of NFT liquidity. However, Magic Eden remains the top NFT marketplace on SOL. Compare sales volumes between OpenSea (for solana NFTs) and Magic Eden since OpenSea's Solana launch. How many unique users have bought a SOL NFT on OpenSea vs Magic Eden since 4/6. How do you expect this trend to develop over time?

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    Introduction

    Solana NFTs Can Now Be Traded on OpenSea Since Apr 6th. This was announced by the official Opensea Twitter account on April 6th.

    In this analysis, we want to compare the two NFT market Places Magic Eden and Opeansea in the Solana network in terms of the number of unique users and sales volume.

    Let's take a look at opensea users and volume on solana network.

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    Chart Below Shows number of unique users on Opensea marketplace on solana network.

    The maximum number of users in one day was 291, which is a very small number compared to magic eden. In the next chart, we examine the sales volume.

    The highest sales volume and number of sales was on April 7th.

    more than 1850 SOL NFTs has been sold on this day.

    donut chart Below Shows number of unique users on Magic eden marketplace on each day since Apr 6th.

    If we also create opensea Charts for magic eden, you will see a huge difference between the two platforms.

    If we compare the number of unique users on April 7 on 2 platforms, we can conclude that,

    The Magic eden platform has almost 40 times more unique users than the opensea platform.

    Also in terms of sales volume, magic eden has a much larger volume than opensea in Solana network.

    Conclusion

    By reviewing the sales volume and the number of unique users, from April 6, the time of Opensea announcement for the transaction in Solana network. We found that the sales volume and number of unique users on Magic eden is still much higher than Opensea on solana network.