Onboarding with Solana NFTs
It has been said that Solana NFTs have become a powerful onboarding tool into the Solana ecosystem. Is this narrative true? Which NFTs have captured the most first time users of the Solana blockchain? What kinds of activities do these wallets tend to do after buying their first NFT? Do you think the NFT growth on Solana will spill over into Defi?
Introduction and methods
NFTs have been the trending topic of cryptowolrd over the past year. In fact, emblematic persons like Mark Zuckenberg told about that and basically, put their enterprise name Facebook a different name so called "Meta" in reference to Metaverse, the world of NFTs.
Thanks to that, the growth of this type of tokens increased exponentially in all the blockchain networks. One of the main networks have been Solana and in this dashboard we are gonna analyze several metrics about their growth.
In this dashboard, we are gonna try to get the amount of users that have caotured by the NFT collections on Solana. The main idea is to share the most popular collections in this term. To do that, we will calculate the monthly new Solana users attracted by each NFT collection taking into account its first week debut. As well, a list of the total new wallets captured so far is provided by each NFT collection.
Moreover, a comparison between the total Solana new wallets and those who have been attracted by the NFT world has been done. Finally, the different wallet activity has been recorded in order to see what kind of activities do these wallets after buying their first NFT.
As a result, we can see how the rank of the NFT collections vary in function of the month. It is clear that it seems that the metric is affected by the launch time of the collections.
If we take a look at the top collections of each months, we can see how there is only a repeated collection. Okay Bears appeared to be the most popular during two consecutive months: April and May 2022.
In general, it can be seen as well how the number of new wallets captured by the NFT sector decreased over time.
Taking a look at the cumulative number of new Solana users attracted by each NFT collection so far, we can see how the top 3 have been:
- Rude Golem.
- Okay Bears
- Dazed Duck
While the first one have attracted almost 2.5k new users, the second one surpassed the 2k and the 3rd one captured more than 1.8k users. There are other important collections that have captured more than 1k users like Baby Ape Social Club or Catalina Whale Mixer.
Taking a look at the comparison between all new Solana wallets and those who have been attracted by the NFT collections and the numbers are a little bit poor. While there are thousands of wallets captured by NFTs during a month, more than 1M of wallets come to Solana each month. It represents that less than 1% of the Solana new wallets come to the platform to intereact firstly with NFTs.
Finally, looking at the main actions done by NFT new users after the NFT buy, we can see how there are three main ones: Create, CreateAccount and Transfer. Then, it seems like the major of the wallets do transfers and create accounts mainly to deposit some money.