Try Quests to earn FLOW[Flow] - FLOW NFT Ecosystem
Bounty Question: Happy Flow NFT Day! As part of today’s celebration of FLOW NFTs, we want you to dive deep into the ecosystem. Treat this as an open analytics bounty specifically focusing on the FLOW ecosystem.
NFT stands for non-fungible token. In simple terms, an NFT is a one-of-a-kind digital asset. Like physical assets, NFTs can be sold by their owners for a profit (or loss...)
People buy NFTs for many reasons including collecting, investment, trading to make a profit, supporting a creator, to access an NFT-gated event or purely for the art. On the creator end, NFTs can be hugely beneficial as they can program into the NFT the ability to have a royalty every time the NFT is resold and passes hands.
> # What's a Flow "NFT" and why Flow Blockchain?
A Flow NFT is an NFT with ownership tracked on the Flow Blockchain (Flow) instead of another blockchain like Solana or Ethereum. NBA Top Shot is built on Flow. You may have heard of very high fees on Ethereum to buy NFTs which can be even higher than the cost of the NFT you want to buy. On Flow there are no fees in buying NFTs. On top of this, Flow is the leading blockchain by energy efficiency requiring less energy to create than a Google search to create an NFT. You can check out Flow's energy use in this report.
Due to having no fees and being environmentally friendly, the biggest brands in the world have released their digital collectibles (NFTs) on Flow Blockchain including Dr Seuss, Billboard, NBA, NFL and the UFC.
> > 💡 Out of 7 tokens used to pay the purchase amount, 6 tokens have a price equivalent to 1 dollar. As a result, the price column is equivalent to the dollar value of the transaction for them. But for about 13k sales made with the FLOW token, the variable price of this token creates the need to multiply the price of this token by the amount sold at the time of the sale to get the dollar value of that transaction.
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> > ✔ First, the general sales status of NFTs in the Flow network was obtained by the flow.core.ez_nft_sales table. Then a number of average parameters were obtained.
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> > ✔ Then the NFT Flow ecosystem was evaluated in several major parameters such as the number of sales, the number of unique buyers, the volume of sales, the number of NFTs and the number of collections on a daily basis.
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> > ✔ Then it focused specifically on the status of new users. At first, the number of new daily users was obtained. Then this is the first purchase of any new user in which month? In which marketplace and for which collection was it?
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> > ✔ Next, it was evaluated which NFTs were the most popular among the first purchases of new buyers, from which collection and in which marketplace they were bought and sold. Considering that all these 25 NFTs were from the TopShot action, the flow.core.dim_topshot_metadata table was used and the player's name, team and game type were obtained.
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> > ✔ In the end, the top 5 collections and top 5 marketplaces were obtained. The user traffic between these collections was calculated separately and between the marketplaces separately.
👀 Findings
> * Summary: 3.74m== sales --(by)--> ==88.7k== buyers --(for)--> ==$85m== USD --(for)--> ==2.93m== unique NFTs --(from)--> ==145== unique collections.
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> * On average, each sale is worth ==22.9 USD.
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> * Each NFT sold was sold an average of 1.27 times, and the value of each NFT sold was an average of 29.2 USD.
> ## Introduction
> * TopShotMarketV3 is the largest police market in the Flow Network NFT ecosystem in many parameters. After that we can mention NFTStorefront. It seems that according to what is in these charts, we will witness a big confrontation between these two police markets in the near future. The two are almost opposite, TopShotMarketV3 is a dedicated marketplace for TopShot's huge collection, and NFTStorefront is meant to be a marketplace for many collections.
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> * Other 7 Marketplaces no longer have a special role in the Flow Network NFT ecosystem. ==Only 0.6%== of all NFTs bought and sold in this ecosystem were done by these 7 marketplaces.
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Question: Do donut charts tell us the whole story? Definitely not. If we check the daily trend, we can see how NFTStorefront stole the lead from TopShotMarketV3 in the months of August and September and became the first marketplace in the Flow network NFT ecosystem.
Question: Can the end of the NBA season be considered the reason for the downward trend of the TopShotMarketV3 marketplace? We cannot speak with any certainty, because this NBA season ended in early June, but the downward trend of this marketplace (which is the exclusive marketplace of TopShot Collection) started much earlier than this date. In order to be able to speak with a higher percentage of certainty, at least three years of NFT sales data should be available so that trends can be observed and decisions can be made with greater accuracy about any outcome.
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> * The slope of the cumulative graphs of these two marketplaces (NFTStorefront and TopShotMarketV3) are very interesting, one is ==concave== and the other is ==convex==. The concave slope like the cumulative chart of the NFTStorefront charts indicate that this marketplace is growing at an impressive rate.
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> * In TopShotMarketV3, 2.7 times of NFTStorefront sales have been made.
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> * The unique users of ==TopShotMarketV3== is about 1.35 times that of NFTStorefront. By looking at the change of ratios, it can be concluded that the users in NFTStorefront have bought about half of the users in TopShotMarketV3.
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> * In terms of sales volume, there have been about $50m on the ==TopShotMarketV3 marketplace and $35m on the ==NFTStorefront marketplace. This means that according to the sales number data, the average value of each sale in NFTStorefront is about twice that of TopShotMarketV3.
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> * Three quarters of all NFTs in this ecosystem have been sold through the ==TopShotMarketV3 marketplace.
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> * More than three quarters of all NFT collections in this ecosystem are supported by NFTStorefront Marketplace.
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> * August and September have been brilliant Months for NFTStorefront. This marketplace seems to have a bright future ahead of it in this ecosystem.
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> * The daily number of new buyers of the NFT Flow ecosystem does not follow a particular trend, in a few days of this approximately 160-day period, more new users have been added to the ecosystem.
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> * The highest number of new users is related to ==August 12, when about 16k buyers made their first purchase. A week after that (August 19) about 9k new buyers have been added to the ecosystem (second rank in this regard).
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> * About 30% of new users of this ecosystem made their first purchase in August. This means a growth of about 300% compared to ==July, which has the lowest amount of new users in a month (with about 13k new users, which represents about 10% of the total users).
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> * About 46% of new users (63k) have chosen TopShot collection as their first purchase. 2.2 times the second collection. (i.e. ==PackNFT==)
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> * 53.5% of new users made their first purchase on the ==NFTStorefront== marketplace. (1.2 times ==TopShotMarketV3== marketplace)
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> * Among the most popular NFTs chosen by new buyers as their first purchase, the top 25 NFTs belong to the ==TopShot== Collection. NFT with ID 810878, which is a Moment of “Moritz Wagner”, is the most popular in this field, with 28 new users buying it as the first purchase.
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> * Among the 25 most popular NFTs, “Steph Curry” holds a very large share with 7 Moments. 3 Rim, 2 Block and 2 Handle form the game type of these moments. This player's NFTs have been selected as the first buy 87 times, at least 2.2 times more than any other player.
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> * Thanks to Steph Curry's popularity, the “Golden State Warriors” has the first place in the field of popular teams.
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> * Among the types of games, Rim== with 8 times and Mid-Range== with 6 times were the most popular.
> * There is no user who has bought at least one NFT from the top 5 collections.
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> * 1858 buyers have bought at least one NFT from 4 of the top 5 collections.
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> * 68% of buyers have bought from only one NFT collection.
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> * There is no user who has bought at least one NFT from the top 5 and even 4 marketplaces.
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> * 79% of buyers have bought NFT from only one marketplace. 21% of two marketplace.
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> * There are only 7 buyers who have bought NFT from the top 3 marketplaces in the Flow NFT ecosystem.
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> > ## 📌 TopShotMarketV3 is by far the largest marketplace in the NFT Flow ecosystem. But NFTStorefront seems to have come to end or at least threaten TopShotMarketV3's reign in this ecosystem.
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> > ## 📌 30% of new buyers saw August as a much better time than other months to enter the Flow NFT ecosystem.
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> > ## 📌The TopShot collection has been the most popular shoe for new buyers.
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> > ## More than half of new buyers have chosen NFTStorefront as the marketplace of choice for their first purchase.
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> > ## One of Moritz Wagner's moments has been selected as the most purchased NFT by new users, with 28 purchases.
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> > ## 7 of Steph Curry's moments (and a total of 87 purchases of his moments) make this player one of the most popular players among new buyers.
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> > No buyer has bought at least one NFT from all top 5 collections.
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> > No buyer has bought at least one NFT from all top 5 marketplaces.