Introduction

In this dashboard we’re going to analyze the 3 biggest NFT Markets on their respective Blockchain.

• **Open Sea **on Ethereum (2.5% Market Fees)

• **Magic Eden **on Solana (2% Market Fees)

• Quix (Formerly Quixotic) on Optimism (2.5% Market Fees)

  we going to compare these markets by their performance and adoption with different metrics such as their Volume, Revenue and Active Users.

  we also going to find out the top 5 most popular collections of each platform in terms of traded volume and see their share of total volume.

  the timeframe of comparisons will be from start of the July and also the beginning of the year.

Daily Volume

we see a sharp contrast between first half of the year and the start of Month of July on daily volume, overall this metric doesn’t show a positive impact on adoption and performance of the collections three of the platforms in the second half of the year.

on Open Sea the average daily volume was around 10MM which been on a constant decline from it’s ATH of 420.69MM (nice) on May 1.

other two markets follow the same with a every now and then jumps on Magic Eden.

==Overall the volume doesn’t show a positive sign of adoption on all of these platforms.== which can be seen by slow raise of cumulative graph on charts below.

as of today (Sep. 28th) OpenSea seen a 6% increase of total volume since July 1st. this index is 16% for MagicEden and 8% for Quix.

Platform Revenue

Low volume means low fees, same as the previous metric daily generated fees by three of the platforms shows a sign of a depressed market, looking at cumulative graph it can be seen that Quix and OpenSea have way lower rate of revenue generation compared to magic eden.

since July OpenSea generated only 18.5MM in fees, this index is 2.75MM for Magic Eden and only 5000$ for Quix.

Daily Number of Sales and Traders

the turnover rate of Quix compared to other two platforms is rather a comedic comparison, Quix on it’s best day of 2022 had less than 4000 sales on all of the collections which is far behind OpenSea and MagicEden.

from the start of year daily number of sales on Opensea was on a decline in contrast to other two platforms. in the same timeframe that OpenSea seen its all time low number of sales this year MagicEden and Quix had their best days in terms of active users and sales.

Top Collections

for both OpenSea and MagicEden platforms the top 5 popular collections in terms of traded volume account for nearly 28% of total volume, while on Quix top collections cover nearly 70% of total volume from the beginning of this year.

Verdicts

• all the metric discussed in this dashboard does not show a positive sign of marketplace performance and adoption.
• compared to each other Magic Eden seen better growth and adoption in their native blockchain compared to other two platforms.
• Magic Eden experienced lower fall on active users compared to start of the year.
• Magic Eden experienced less decrease in the rate of generated fees.
• top collections on Magic Eden and Opensea share a similar percentage from total volume.

i used respective nft_tables for each platform/blockchain for my analysis and only considered ETH sales for OpenSea market, using Flipside’s hourly token price table the values are in USD for better comparison.