Try Quests to earn cryptoNew Wallets from NFTs
In this Analysis, You Will read about New wallets from NFT on Algorand Network. et’s look at the month of May and June to understand if the Algorand NFT scene is onboarding new wallets. For this we want to focus on wallets that have >1 ALGO and look at two different groups all wallets >1 ALGO and wallets created in May and June with >1 ALGO. Also note we only want to look at arc69 NFTs.
What are the total number of wallets that have >1 ALGO? How many of these wallets(what percent) were created in May/June 2022? What percent of each of these wallets groups hold an NFT? What percent of each wallet group(total & May/June) received an NFT in May/June? How many wallets received an NFT in May compared to April? For wallets that were created in May/June and received an NFT- what is the distribution of these wallets balances? For wallets that were created in May/June and received an NFT- what is the distribution of these wallets balances? For wallets that were NOT created in May/June and received an NFT in May/June- what is the distribution of these wallets balances? How do these compare? Do we see these new wallets having more or less ALGO balance. How many of the new wallets in May/June that received an NFT, received more than 1 NFT Do we see NFT adoption spurring the creation new wallets? In other words, are new wallets being created to buy NFTS?
A non-fungible token is a financial security consisting of digital data stored in a blockchain, a form of a distributed ledger. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.
First, From Joining flipside_prod_db.algorand.block and flipside_prod_db.algorand.account table, I have found wallets created time. With that data, I examined other tables and answer asked questions.
There are nearly 1M wallets that have more than 1 $Algo in their wallets since Algorand inception.
About 95% of wallets were created before May 2022. 5% of wallets were created in May and June, which is about 45K wallets. These wallets have more than 1 $ALGO in their wallets. It means these are real wallets.
Let's examined NFT distribution. 8% of total users whose wallets were created in May/June wallets have at least one NFT in their wallets. 91% of NFT holder wallets were created before May 2022.
21% of total user's wallets that receive at least 1 NFT in May/June were created in May and June wallets. About 78% of total user wallets that receive at least 1 NFT in May/June were created before May 2022.
From total wallets, About 111K unique wallets received at least 1 NFT in April, and 136K wallets received an NFT in May.
These two charts show the wallet balances of those who received an NFT. Above wallets are those that were created after May, and the below chart is those wallets that were created before May.
According to the below chart, Those wallets that were created before may have 15M Algo in their wallets in total. May/June wallets have about 400K algo in their wallets.
About 2187 wallets of those that were created after May/June have received more than 1 NFT.
The below chart shows the top 20 New wallets that received the highest number of NFTS. A wallet has received more than 29K NFTs.
The answer is complicated. I can surely say that at least 50% of these wallets that were created after May, Created to buy NFTs.