Introduction

• In this analysis, You Will Read about Lil Nouns NFTs.

Lil Nouns is the newest NFT collection featuring a younger version of the Nouns NFT collection. Unlike the usual NFT collection drop, each Lil Noun is minted every 15 minutes. This unique mechanism is automatically generated and will continue forever. I examined Lil nouns and analyzed these parameters:

• weekly and Total Bids
• Weekly and total Winners
• Top Lil Nouns Winners
• Weekly and Total Sales
• Top Profitable users and losers
• Analyze Winner’s activities

Analyzed By Hess - Reading Time Almost 12 Min

Bid Winners

I took a quick glance at bidders and their behaviors since May 2022. Now, It’s time to examine Lil Nouns Winners.

• From 3.2K unique wallets, 2060 unique wallets won at least one Lil Nouns. These users spent 2K ETH on buying auctions which is worth 3.4M US dollars. These 2K unique wallets won more than 5K Lil Nouns NFTs.
• Based on the Total number of winners and number of unique NFTs, Each user won 2 NFTs per week. For Example, On May 16, 243 unique wallets won 459 NFTs. As you can see, on average, each user won 2 Lil Nouns Per week. In the last month, In December, The total unique winners decreased to 22 unique wallets. The pattern of winning still is the same. Each user won 2 Lil Nouns per week.

NFT Sales ( Winner’s NFTS ONLY )

• The Top User, based on the total number of Lil nouns NFTs, is the top profitable user too. This user gained 16K US dollars by selling its Lil Nouns. Almost all top 10 profitable users made more than 4K Profits.
• As you have seen, The average price of Lil Nouns NFTs decreased over time. So, I could guess that some users were unprofitable. The Top user loses 30K US dollars by selling Lil Nouns NFTs. This user was in the top 10 winners too.

Winners Vs. Sellers

• Overall, Lil Nouns had 2K Winners which 588 of them sold at least one Lil nouns NFT. Also, These users have won 5.1K Lil Nouns NFTs and sold 1.3K of them. By these numbers, I can conclude that winners are collecting Lil Nouns and they don’t want to sell these Lil Nouns NFTs.

Conclusion

• The average sales and winning amounts decreased from 1 ETH to 0.15ETH, but Lil Nouns Still is one of the most popular collections in the NFT world.

• Some users made a lot of money from Lil Nouns. For example, The top winner made 16K US dollars. Its wallet participated in the 1030 Auction and won half of them.

• We are in the Crypto winter and should wail for the next six months and see the price of Lil Nouns NFT.

A SUMMARY OF THE MOST IMPORTANT FINDINGS

• Since May 2022, About 3.4K unique users made 25.3K bids. They participated in the bidding and spent 8.3K ETH. However, If a user doesn’t win the auction, Their bid return to their wallets.
• The total number of users participating in bidding has decreased since May and, in the last three months, reached below 50 unique users.
• The average bid amount was around 1 ETH in May but decreased to 0.15 ETH in the last couple of months.
• 2060 Unique wallets won the Lil Nouns Auction. These users won 5190 Lil Nouns NFTs. Lil Nouns earned 2050 ETH from selling NFTs.
• The average winning amount dropped to 0.15 ETH from 1 ETH.
• A user won almost 600 Lil Nouns. This user spent 260K US dollars on Lil Nouns. However, This user earned 16K by selling some of Lil nouns NFTs.
• A user Lost around 30K US dollars by selling Lil nouns NFTs.
• Of the 2060 winners, Only 588 of them sold at least one of the Lil Nouns NFTs.
• The average sales amount was 0.18 in the last 30 days.
• These users sold 1354 Lil Nouns. Other users prefer to hold their Lil nouns. Users hold 5.1K Lil nouns.

Dashboard Reading Guide

• Lil Nouns Bids: This Part Shows you the weekly and total Bids on Lil Nouns. Bids are not the final result. So many users participate in the bidding, but only there is one Winner each round.

• Bid Winners: This Part shows you the final results. You can read about weekly and total winners, win Amounts in ETH and USD, and top winners.

• NFT Sales: Lil Nouns collection is available on Opensea. This Part does not show you the Opensea sales activity. This part only shows the sales activity of winners on Opensea, not all collections. I Only Tracked the winning NFT and their sales for the first TIME.

• Winners Vs. Sellers: In this part, You can see whether winners sold their winning NFTs or not, and I compared Winners with those winners that sold their winning NFTs.

• Bidders: In this part, You will know Lil Nouns betters. Top Minted collections, Top Bought Collections, and who are they?

Full Analysis

Lil Nouns Bids

First, Let’s examine the overall stats of bidders. Since May 2022, About 3.4K unique wallets participating in bidding Lil Nouns. These users made 25.3K bids and spent 8.32K ETH which is worth 14.46M US dollars.

THANK YOU FOR READING!

ALL CODES AND CONTENTS WERE WRITTEN BY HESS.

:bird: Twitter: @hessaminanloo

:t-rex: Discord: hess#0890

:calendar: Analyze Date: 2022/DEC/23

CrossOvers Collections by Lil Nouns Bidders

• On Ethereum, We have two types of buying or minting NFTs. One is Mint directly on the Project website or secondary markets, and the other one is buying NFTs on Secondary markets. Mint could be Free.
• Based on Minted Collections by Lil Nouns Bidders, 9.9K of bidders minted NFTs from the Art Block collection. After that collection, With a huge difference, 1.9K Of Lil Nouns bidders minted NFTs from Crypto Kitties.
• Based on Secondary market sales, OpenSea, with 34K sales by Lil nouns bidders, is the top collection. After the Opensea collection, Art blocks with 10K sales and Rarible NFTs are in the next places.

Where are Lil Nouns Bidders Coming From?

• I extracted the Lil Nouns Bidders’ tag name to understand who are the Lil Nouns Bidders. If we ignore the NFT activities, 3.4K of Lil Nouns bidders were active on Ethereum in the last 7 days. It shows Lil Nouns bidders are active users on Ethereum. 2.6K of bidders are in the top 10 NFT transactions.

• I can see that 954 unique wallets are in the top 1% of ETH top users.

Lil Nouns Auctions

• The Lil Nouns Auction Contract will act as a self-sufficient Lil Noun generation and distribution mechanism, auctioning one Lil Noun every 15 minutes, forever. 100% of auction proceeds (ETH) are automatically deposited in the Lil Nouns DAO treasury, where they are governed by Lil Noun owners.

  Each time an auction is settled, the settlement transaction will also cause a new Lil Noun to be minted and a new 15 minute auction to begin.

  While settlement is most heavily incentivized for the winning bidder, it can be triggered by anyone, allowing the system to trustlessly auction Lil Nouns as long as Ethereum is operational and there are interested bidders.

Lil Nouns DAO

• Lil Nouns DAO utilizes Nouns DAO's fork of Compound Governance and is the main governing body of the Lil Nouns ecosystem. The Lil Nouns DAO treasury receives 100% of ETH proceeds from daily Lil Noun auctions. Each Lil Noun is an irrevocable member of Lil Nouns DAO and entitled to one vote in all governance matters. Lil Noun votes are non-transferable (if you sell your Lil Noun the vote goes with it) but delegatable, which means you can assign your vote to someone else as long as you own your Lil Noun.

Nouns DAO's Reward

• For being selfless stewards of cc0, Lil Nounders have chosen to compensate the Nouns DAO with Lil Nouns. Every 11th Lil Noun for the first 5 years of the project (Lil Noun ids #1, #11, #21, #31 and so on) will be automatically sent to the Nouns DAO to be vested and shared among members of the project.

  Nouns DAO distributions don't interfere with the cadence of 15 minute auctions. Lil Nouns are sent directly to the Nouns DAO Treasury, and auctions continue on schedule with the next available Lil Noun ID.

The highest number of users participated in bidding between May and August 2022 but decreased significantly after that. During May, The total number of unique wallets was between 250-500 bidders but week by week decreased and, in the last three months, reached below 50 bidders. It seems this collection is not popular among Bidders, or users lose their interest because they couldn’t win!

• Following the total number of users, The total weekly number of bids was 1K-3K by those 500 unique bidders. Since September 2022, The total weekly number of bids has reached 10-100 bids per week.

• On May 16, Users made a 4.6M US dollar bid. However, in those days, The ETH price was 2x higher than and 2293 ETH is worth 4.6M US dollars. Quickly, The total weekly bid amounts decreased. In December, Users made only 6 ETH bids which are worth 7K US dollars. The growth of ETH and Users increased between May and August, but after that time, The slope of growth moved slowly.

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• The interesting thing about this project is that the average daily Bid amount still is around 0.15ETH. After May, The bid amount decreased from 1 ETH to 0.15 in July. After that time, The average bid amount still is 0.15ETH. However, The 0.15 ETH was worth 266 US dollars in July but now is worth 177 US dollars.
• A Large number of users made only 1 Bid. About 16 unique wallets made more than 100 bids.
• A user made 3.6K bids. More than anyone else. With a huge difference from the top bidders, The second top bids made 674 bids. Almost all top 10 bidders made more than 10 bids since May 2022.

Top Winners

• It seems a user is collecting all Lil Nouns NFTs. This user has won 600 Lil nouns since May 2022. This user spent 260K US dollars for winning Lil nouns NFTs. With a huge difference, The second top user has won 197 Lil Nouns and spent 52K US dollars. The third top user has won 97 Lil Nouns and spent 49K US dollars. Interestingly, the second top user has won 100 Lil nouns NFTs more than the third top user, but this wallet spent the same amount as the third top user.

Until Now, Almost 5.1K Lil Nouns NFTs minted by winners. During May, Users won Lil Nouns with 2.1K US dollars but over time, The winning amount decreased. Right now, The average winning amount is 0.15 ETH which is worth 180 US dollars.

I should mention again that I just tracked Lil Nouns Winner’s activity on Secondary markets, not all buyers and sellers.

Until now, 588 winning wallets sold at least one Lil Nouns on the Secondary market.

• The total sales amount by Auction winners is 595 ETH which is worth Nearly 1M US dollars.
• The highest number of sales on the secondary market was between May and August 2022, but after that time, The total weekly number of sellers decreased from 44 to 1-2 unique wallets, and the total number of sales decreased from 50-60 to 1-2 sales.