Flow NFT Wallet Behavior Comparison

Create a series of dashboards comparing wallet behavior for buying and selling NFTs on Flow compared to Ethereum and Solana. Is there more or less "whale" activity on Flow compared to each of the other chains?

The popular NFT projects of Solana, flow, and Ethereum networks have been compared in terms of the number of sales.

In the flow network, the TopShot project had the highest number of sales with a total of about 1.68 million sales.

On the Solana network, the Trippin bunnies project has recorded the highest number of sales with about 13.6k sales.

The Art Blocks project has recorded the largest number of sales on the Ethereum network with 169.5k.

As can be seen, the number of sales of NFTs of popular projects in the flow network is significantly higher than the number of sales of popular projects on Ethereum and Solana networks.

Meanwhile, in terms of the total number of sales, as mentioned above, the number of sales of the flow network is the lowest. This case can show that flow network users are more interested in buying and selling in certain projects.

NFT Wallet Behavior Comparison

\n What do "whales" tend to focus on in Flow? How common is "flipping" on Flow (selling within 24 hrs, within a week, etc) compared to other chains, or do wallets tend to hold onto their NFTs? Are wallets more interested in new projects, or already existing projects on Flow?

Method:

First, a comparison was made between NFT sales in Solana, flow, and Ethereum networks in terms of separate wallets, number of sales, and dollar volume of sales on different days of the last 2 months.

Second, a comparison was made in terms of the cumulative number of distinct users as well as the cumulative volume.

Third, the popular projects in each of these 3 networks were examined in terms of the number of sales.

Finally, the behavior of whales in each network was investigated.

Databases flow.core.fact_nft_sales, solana.core.fact_nft_sales and ethereum.core.ez_nft_sales were used to extract relevant data.

To calculate the dollar volume of buying and selling nfts of the Solana network, the price of Sol on different days was needed, which was calculated using Table flipside_prod_db.ethereum_core.fact_hourly_token_prices for different days and multiplied by the sales amount.

To identify the whales, the dollar value of their transactions was examined, and 100 wallets with the largest volume of nft buying and selling in each network were selected as whales, and their behavior was examined.

In the graph above, the number of separate wallets on different days of the last 2 months is examined.

As it can be seen, the most separate wallets of the Ethereum network are followed by the Solana network and finally the separate wallets of the Flow network.
As can be seen, at the end of May, from May 24 to May 27, the activity on the flow network increased and after that, it returned to the previous trend. On May 26, distinct users’ activity on this network was more than the Solana network users.
As can be seen, in recent days, the number of separate active wallets in the flow network has decreased significantly compared to the previous days. Meanwhile, individual active users in Ethereum and Solana networks have not changed significantly compared to the previous days.
In the graph on the right, all the separate wallets of different networks are compared with each other.

In the chart above, the number of NFT sales in Ethereum, Solana and Flow networks are shown together.

As can be seen, in terms of the number of NFT sales, the Solana and Ethereum networks had close numbers on different days. The number of NFT sales in the Flow network is also very different from the other two networks and is the lowest number. On May 26, the number of NFT sales in the Flow network reached its highest number and was more than the Solana network on this day.

In the pie chart on the left, the total number of sales of 3 networks are shown together.

In the chart above, NFT sales in different networks in terms of dollar volume on different days of the last 2 months are given. The logarithmic chart is used for better visibility of changes and better comparison.

As you can see, from June 14th to June 21st, we saw a noticeable decrease in the dollar volume of flow network NFT sales from about ==$470,000== to about ==$55,000==. This decrease occurred while we did not see a noticeable change in the sales of Solana and Ethereum networks. After this decrease, we saw a sharp increase in the sales volume of NFT of this network from about ==$59,000== on June 22 to about ==$600,000== on June 24.

Similar to the sales trend of NFT and active separate wallets in this network, we have also seen a significant decrease in the volume of dollar sales in recent days. From about ==$440,000== on July 8, we reached the lowest amount on July 13, equivalent to almost ==$2,000==.

In the two graphs above, the cumulative number of users as well as the cumulative volume of sales of different networks in the last two months are given.

In the side charts, the behavior of NFT sales in different networks has been investigated in terms of their hold time by buyers.

As can be seen, in all networks, users tend to keep their NFT between 1 week and 1 month.

Among flow network users, users tend to hold their NFT between 1 day and 1 week, with a slight difference being more than users who hold their NFT for less than 1 day; But in other networks, this difference is more.

As can be seen in the charts above, the activity of Solana whales on different days, both in terms of volume and number and in terms of separate active wallets, was more than the activity of the whales of the other two networks. On the days of May 20-26, whales in the flow network were more active than other days. This period was related to the end of the NBA playoff conference final games.

TopShot NFT sales in this period have been discussed in detail in a dashboard, which you can see in the opposite link.FLOW Usage During the NBA Playoffs

Conclusion:

at the end of May, from May 24 to May 27, the activity on the flow network increased and after that, it returned to the previous trend. On May 26, distinct users’ activity on this network was more than the Solana network users. Similar behavior was observed regarding the activity of whales in this network. This period was related to the end of the NBA playoff conference final games.
In the flow network, the TopShot project had the highest number of sales with a total of about 1.68 million sales. On the Solana network, the Trippin bunnies project has recorded the highest number of sales with about 13.6k sales. The Art Blocks project has recorded the largest number of sales on the Ethereum network with 169.5k.
On the 3rd and 4th of May, no information related to the Solana network was recorded, which is related to the outages of this network.
Among flow network users, users tend to hold their NFT between 1 day and 1 week, with a slight difference being more than users who hold their NFT for less than 1 day; But in other networks, this difference is more.

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