Rand Gallery

Rand Gallery is a website for visualizing ASAs on Algorand Blockchain made by ChrisAntaki. It is perfectly suitable for displaying AlgoWorld NFT cards. However, it is not limited by AlgoWorld’s cards, you can visualize any asset on the chain.

What is NFT

A non-fungible token (NFT) is 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. NFTs typically contain references to digital files such as photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible. The market value of an NFT is associated with the digital file it references.

Aims and Methods

In this bounty, our aim is to provide a deep understanding of purchasing behavior of users of Rand Gallery. To meet this goal the following items will be addressed in this dashboard:

1. What is the total number of unique wallets that have been purchased from rand gallery? To find the answer to this question, the number of unique wallet addresses of users who have purchased NFTs from Rand Gallery will be evaluated.
2. Are we seeing new wallets purchasing on Rand Gallery? First, we will demonstrate the number of NFTs that each wallet has purchased and then we investigate the number of new wallets that purchased NFTs each day. This will reveal how much is interesting the Rand Gallery to motivate new users to buy NFTs.
3. Who are the most active customers of Rand Gallery in terms of the number of purchased NFTs and the amount of Algos invested for this purpose? The answer to this question will be provided by finding the top 10 wallet addresses that have spent the higher amount of Algos to buy NFTs.

The following tables of Flipside will be employed to evaluate the required data:

• algorand.transactions
• algorand.payment_transaction
• algorand.prices_swap

Results and Discussions

In chart 1 on a daily basis, a visualization of the number of unique wallet addresses that have purchased the NFTs from Rand Gallery is shown. Also, the number of purchased NFTs is displayed in this chart. Chart 1 reveals that till early December 2021 both the number of unique wallet addresses and the number of purchased NFTs had an increasing trend. After that time, no significant change is detectable.

The number of purchased NFTs by each wallet address is displayed in chart 2. In general, most wallets have purchased less than 400 NFTs. Also, we can find some wallets that have bought more than 1000 NFTs.

A brief summary of chart 1 and chart 2 are given in Table 1. In this table to total number of unique wallet addresses and a total number of purchased NFTs since the inception of Rand Gallery are provided.

To investigate how much Rand Gallery is successful to motivate new users to purchase NFTs, the number of unique wallets addresses who have purchased NFTs at each day are evaluated. The results are presented in chart 3. The number of wallets addresses (blue bars) in chart 3 show that at each day how many new users purchased NFTs from Rand Gallery. For example, at October 17, 2021, 179 users purchased NFTs and note that, these 179 users have never bought NFTs before this date. The cumulative sum of unique wallet addresses is also shown in chart 3 (orange bars).

The results revealed that in average less than new 40 users have been involved in purchasing NFTs from Rand Gallery. This means that every day some new users are been added to customers of Rand Gallery.

Finally, top 10 wallets were identified according to the number of purchased NFTs. As it was expected, the results differ with those found in charts 4 and 5. Again this shows the importance of definition of the metric to identify the most active users in the purchasing NFTs. Given the chart 6 which depicts the top 10 wallets based on number of purchased NFTs, the top user has purchased 1474 NFTs and the next one with purchase of 1221 NFTs is placed at second position.

Finally, we have identified the top 10 wallets addresses who have employed the Rand Gallery to invest on NFTs. Chart 4 shows top 10 wallets according to amount of Algos they have paid to purchase NFTs. As depicted, the top wallet has invested more than 231,000 Algos to NFTs. At the second place, we have someone who has paid more 194,000 Algos to purchase NFTs from Rand Gallery.

It was investigated if the metric be the amounts of US Dollar paid to but NFTs, who are the top 10 wallets. Since the price of Algo in US Dollar are fluctuating over time, this may affect the identified top 10 wallets. The results are given in chart 5. By comparing the results from chart 5 with findings in chart 4, it was revealed that when the metric is the amount of payment in US dollars, the first and second places change compared to the case where the metric is payment in Algos. Also, the wallet address in third place considering the payment in Algos, is placed at fifth place and in general, the results when payment is in US Dollar, are totally different with that of payment in Algos. So, if it is important to Rand Gallery to identify its top users, a careful examination must be considered to decide if the amounts of Algos be the metric or US Dollar to identify the top users.

Conclusion

A comprehensive study was conducted to investigate the purchasing behavior of Rand Gallery customers. The following results were drawn from this study:

1. The number of unique wallets had increasing trend till early December 2021
2. The same applies for number of purchased NFTs
3. Most of the users have purchased less than 400 NFTs
4. Total unique wallets purchasing NFTs are 7675 (at the time of writing this article)
5. It is shown that every day some new customers are being added to Rand Gallery users.
6. Top 10 wallets according to payment in Algos and US Dollar to invest on NFTs and number of purchased NFTs were evaluated. It is shown different metrics can be led to different identifying of top wallets.