Try Quests to earn crypto[Polygon] - Flash Bounty: Reddit NFTs
Reddit Has A New NFT Project, “CryptoSnoos”
Reddit is jumping in on NFTs. The social media platform has unveiled ‘CryptoSnoos’, 1-of-1 NFTs for the platform built on ethereum. Reddit has previously partnered with the Ethereum Foundation to bring the cryptocurrency subreddit their own native crypto, ‘Moons’.
CryptoSnoos: A New Type Of Avatar
Reddit has already minted and put up for auction three unique CryptoSnoos on OpenSea, titled Original Block, Helium, and Snooprematic. CryptoSnoos are bucketed within different types of rarities: Legendary (unique, of a kind), Epic (extremely limited edition), and Rare (limited edition). The initial three Snoos on OpenSea are all Legendary. The name “CryptoSnoos” come from the company mascot, ‘Snoo’.
Reddit is clearly looking at how the CryptoSnoos can be integrated on the platform as well. Initially, CryptoSnoos will provide a glow animation to user avatars, and the NFT card will replace profile avatars. Users will also be able to view the CryptoSnoo ‘stats’ on the back of each card.
The platform describes the NFTs as “pieces of art that come from different dimensional coordinates across spacetime. A fusion of past and present, high-culture aesthetics mixed with the popularity of kitsch and cartoons – fragmented, abstracted, impressionistic, futuristic folk and modern (post and pre), and definitely enlightened (but in an avant-garde, neo-classical contemporary kind of way).
> --[Image Source]--
Methodology
This dashboard uses the amazing work of Ali3N. He has to be given a lot of credit for the way he works in finding the addresses of the collections and arranging this wonderful dashboard.
But this dashboard is divided into three parts:
-
Mint NFTs of Reddit collections
-
Selling NFTs of Reddit collections
-
Comparing the status of the sale of Reddit NFTs with other major collections in the first weeks of the launches
\
> * In the first step, an overview of mint NFTs from Reddit collections was extracted and reported. > >
> * In the second step, it was checked which collections were the best in these mints. In this survey, the best collections were determined in terms of the number of mints, the number of minters, the number of minted NFTs, the average number of mints per minter, the average number of mints per collection, and the average number of mints per NFT. > >
> * In the third step, the weekly status of collections mints was checked. > >
> * In the fourth step, the top minters were determined (in terms of the number of mints). > >
> * In the fifth step, an overview of the sale of NFTs of Reddit collections was extracted and reported. > >
> * In the sixth step, it was checked which collections were the best in these sales. In this survey, the best collections were identified in terms of number of sales, number of buyers, number of NFTs sold, average number of purchases per buyer, average number of sales per NFT. > >
> * In the seventh step, the weekly sales situation of the collections was checked. > >
> * In the eighth step, the best buyers were determined (in terms of the number of purchases) > >
> * In the ninth step, the initial days of the Reddit collections' launch were compared with 5 other major collections. In order to be able to display the graphs of these first days of each of these collections in one graph, considering that the launch dates of these collections were completely different from each other, I decided to use row_number and the launch days of each collection from Sort first and last. Because of this, I was able to display the charts of the collections as a unit and in a smaller number of charts.
Mints Overview
During 590k mints performed by 2.86m miners, 1.215m NFTs have been minted from 61 collections.
On average, 9.67k mints have been made per collection.
An average of 0.486 mint per NFT has been done. This number is less than one because several NFTs may be minted in one mint transaction.
Top Collections
These 4 collections:
About 90% of the total number of mint transactions are related to these collections.
Over 1.2m minters are NFTs of The Singularity x Reddit Collectible Avatars collection. This number is 1.5 times more than any other collection. 134k mint transactions have been recorded for these 1.2m minters. It seems that in a mint transaction, several NFTs from a collection are sent to minters' addresses. That's why these numbers are what they are. Because it seemed logical that the number of minters should be less than the number of Mint transactions, but here it seems that the difference in the type of Mint transactions caused these numbers, which seem a little illogical on the surface, but in fact there is no problem with them.
The highest number of Mint transactions is related to the Meme Team x Reddit Collectible Avatars collection. 138k mint transactions of this collection have been done by 516k minters. Here you can pay attention to the average number of mints per miner. These 4 collections cannot be seen among the top 10 collections. But if we calculate manually, the number of mints per minter is on average 0.267 for this collection and 0.11 for The Singularity x Reddit Collectible Avatars collection.
The highest average number of mints per minter is 2, which corresponds to the following collection:
0x79ef499463dae3cd413d78477fa848ecbbda774b
There are only 6 collections, one minted per NFT. This means that in the other 55 collections, there are fewer mints per NFT. (For example, we observed that)
Top Collections
Looking at the donut charts above, it can be concluded that out of these 61 collections related to Reddit, there are 4 top collections in the field of Mint NFTs, which are as follows:
0xb9c042c3275bc49799688eea1a29b1405d02946b --> ==Meme Team x Reddit Collectible Avatars
0x466a330887bdf62d53f968ea824793150f07762e --> ==The Singularity x Reddit Collectible Avatars
0xbfd670667053e517a97afe56c91e4f83f1160bd3 --> ==Drip Squad x Reddit Collectible Avatars
0x6acb8fb82880d39c2b8446f8778a14d34ee6cfb7 --> ==Aww Friends x Reddit Collectible Avatars
Weekly Mints
The number of weekly mints experienced explosive growth in September. 89k transactions were made in the first week of September. (134 times growth) The number of transactions has started to decline after the first week of September. (67% reduction in the number of mint transactions)
About 860k NFTs were minted in the first week of September (about 30% of all NFTs minted). Growth of about 24 times the number of mints in two weeks.
The trends are not such that one can hope for a positive change.
These top 4 collections mentioned in the previous part have shown their presence well in the weekly charts.
It is interesting that the number of weekly minutes has a similar trend to the trend of other parameters, but the intensity of its changes is different. In the last week of August and the first week of September, as it has grown with great intensity, after these two weeks it has also decreased with great intensity.
Sales Overview
47.6k NFT buy transactions were made by 10.21k buyers.
From 59 out of 61 collections whose NFTs were minted, NFT purchases have been made.
7.11k of 1.215m minted NFT sold. This clearly shows that minters have a very high desire to hold their NFTs and not sell them.
On average, each NFT has been traded 6.7 times. On average, each buyer bought 4.66 NFTs, and on average, each collection had 807 sales.
Top Minters
Among the top minters, the following address belongs to the minter that ranks first with 284 mint transactions. He has mined 286 unique NFTs in these 284 mint transactions:
0x352140eb74cae24c9bee7de1884a4ac5a38bc702
The fact that the above table shows that the number of NFTs is less than the number of mint transactions is because each user mined the same NFTs during different mint transactions.
Top Collections
In sales, there is no particular collection that is superior to other collections.
There is a difference of 1410 sales between the number of sales of the top collection and the tenth collection.
Top 5 collections in terms of number of sales:
- Drip Squad x Reddit Collectible Avatars
- The Singularity x Reddit Collectible Avatars
- Spooky Season: poieeeee x Reddit Collectible Avatars
- Meme Team x Reddit Collectible Avatars
- Spooky Season: Rojom x Reddit Collectible Avatars
Top 5 collections in terms of number of NFTs sold (in no order):
- Drip Squad x Reddit Collectible Avatars
- The Singularity x Reddit Collectible Avatars
- Spooky Season: poieeeee x Reddit Collectible Avatars
- Meme Team x Reddit Collectible Avatars
- Aww Friends x Reddit Collectible Avatars
The top 5 collections in terms of the number of buyers (in no order):
- Drip Squad x Reddit Collectible Avatars
- The Singularity x Reddit Collectible Avatars
- Spooky Season: poieeeee x Reddit Collectible Avatars
- Meme Team x Reddit Collectible Avatars
- Aww Friends x Reddit Collectible Avatars
Weekly Sales
The sales of NFTs, the number of buyers and the number of NFTs sold, have been increasing over time.
In the weekly charts of sales, buyers and NFTs, it can be seen that no particular collection has absolute superiority.
The number of sales in the last week of October (starting the week of October 24) compared to the previous two weeks (starting the week of October 10) grew by about 9.2 times.
The number of buyers in the last week of October (week starting from October 24) has grown by 8.94 times compared to the two weeks before that (week starting from October 10).
Top Buyers
Among the top buyers, the following ad belongs to the buyer, who bought 698 unique NFTs during 787 buying transactions.
Among the top buyers, 5 buyers have bought more unique NFTs than number of transactions and 5 buyers less. This means that among the top buyers, there is no clear superiority for a certain thinking.
Compare The Launches
Among the 5 major collections reviewed, ZED RUN Legacy is the only collection that has managed to beat the combined Reddit collections in terms of sales. Among the other 4 collections, the Chicken Derby collection is only higher than the Reddit collections in terms of the number of NFTs sold, and the rest of the collections have not been able to compete with this collection in any field.
The number of sales of ZED RUN Legacy collection is 4 times the number of sales of Reddit collections.
The number of sales of the Reddit collection is at least 2.75 times the number of sales of each of the other 4 collections.
The number of ZED RUN Legacy collection sellers is 2.46 times the number of Reddit collection sellers.
The number of sellers of the Reddit collection is at least 4.31 times the number of sellers of each of the other 4 collections.
The number of ZED RUN Legacy collection buyers is 3.95 times the number of Reddit collection buyers.
The number of buyers of the Reddit collection is at least 2.66 times the number of buyers of each of the other 4 collections.
The number of sold NFTs of ZED RUN Legacy collection is 10.1 times the number of sold NFTs of Reddit collections.
The number of NFTs sold in the ZED RUN Legacy collection is 6 times the number of NFTs sold in Reddit collections.
The number of sold NFTs of the Reddit collection is at least 1.6 times the number of sold NFTs of any of the other 3 collections.
Daily Comparison
Number of daily sales:
Reddit: Uptrend and an explosive increase in the last days of this approximately 90-day period.
ZED RUN: an ups and downs trend that if we look at it in general, we can see a downward trend in it.
Chumbi: Explosive sales in the very first days of launch and a record high in the number of sales over time.
Crypto Heros: Has two peaks in this 90-day period. In the forum, it is not possible to talk about whether the general trend is upward or downward.
Chicken: Very good sales in the first days of launch and then stagnation in the sales of NFTs of this collection.
Sand: An ups and downs trend with sharp peaks and several times in this 90-day period.
In the cumulative graph, the more linear the appearance of the graphs is, it indicates that we have not had an explosive growth in the investigated parameter. In the cumulative charts of daily sales, it can be seen that the charts related to Chicken and Chumbi collections and Reddit have an exponential appearance, which shows that they have experienced explosive sales in a period.
In terms of graphs of the number of NFTs sold, the number of sellers and the number of buyers, the appearance of the charts is very close to the number of sales charts.