Introduction and methods

Foundation is an NFT platform that allows creators to mint their work as NFTs on the Ethereum blockchain. Foundation also offers an NFT exchange allowing creators to sell their work.

In this dashboard, we will analyze mint and sales activity on the Foundation platform over the past three months and how the token transfer volume conducts on Foundation compare to that of OpenSea Shared Mints. The idea is to extract the correct information thanks to the new Ethereum_core schema provided by Flipside Crypto.

The metrics analyzed are :

1-Daily mints and sales over the past 3 months

2-Cumulative mint and sales over time

3-Daily ETH sales volume splitted by fees paid and price of the NFTs paid

4-Daily number of Opensea shared mints and the daily ETH volume sales over time

5-Comparison against Token transfer volume on Foundation and Opensea Shared Mint

Result (mint and Sale)

The results show how both, mints and sales have decreased over time basically since Feburary 2022. However, the trends are not the same. On the one hand, the daily mints drastically decreased on January 29th from around 200 daily to less than 10, and now, the maximum number of mints per day is 4. On the other hand, the number of sales is higher. While the number of sales started below the number of mints, it remained constant until March 6th, when the daily number of sales started to decrease passing from around 200 to around 100, but the number seems to be constant until now.

In fact, if we take a look at the cumulative numbers, we can see how the number of mints increased during the first days from 0 to 1.8k approx and remained constant over time. However, the number of sales keep growing till the end passing from 0 to more than 7k.

The ETH sales volume started at a high numbers around 30 daily ETH and remained constant until finals February. However, the daily ETH volume decreased since then. In the chart, we can also see the volume splitted by paid price (blue) and paid fees (green), where we can see how the fees paid represents a huge part of the total ETH volume.

Conclusion

In this dashboard we have seen how the token transfer volume on Foundation does compare to the Opensea shared mints. We have seen no correlation between both metrics. We have also seen how the number of mints dramatically decrease in January finals, while the number of sales remained constant over time. Something similar happened between the mints and the ETH volume of sales.

Taking a look at these two last charts about the comparison between the Opensea Shared mints and the total ETH volume, we can see how there is no correlation between both metrics. While the ETH volume of sales remained constant from the beginning till February finals, the number of mints dramatically decreased during January finals.