What are 0% Marketplaces?

An NFT marketplace is a platform where users can trade their NFTs for currencies. However, in traditional marketplaces these actions are not free of charge. There are usually 2 fees involved in the sale that get deducted from the price the buyer pays for the NFT: marketplace fees (which are the fees that are paid to the marketplace for hosting the trade), and creator fees or royalties (which are fees paid to the NFTs creators in a way to support their work after the mint). However, 0% marketplaces have recently gained popularity, as they allow the seller to establish the creator fee (which can be set to 0). This allows buyers to purchase an NFT for a lower price than in traditional marketplaces, while the sellers still earn the same or more from the sale. The old-fashioned way of doing this was by selling peer-to-peer (P2P), where the seller sends the NFT to the buyer wallet while the latter sends the tokens to the seller’s address. This avoided the creator fees, but required a trust amongst the two users, which is not suggested if they don’t know each other. Thus, platforms like Yawww and Solanart appeared as a solution to this problem, acting as middlemen in the transaction.

Overview

This dashboard compares the traction during the last 3 months between two 0% royalty marketplaces: Yawww and Solanart with the most popular traditional marketplace: Magic Eden.

Key Findings

99.1% of all the NFT sales on Solana are performed through the Magic Eden marketplace.
Yawww and Solanart have sold a similar number of unique collections (263 compared to 212 respectively).
Despite Magic Eden selling 96.3% of the total collections amongst the three marketplaces, the daily chart shows that Magic Eden has been selling less collections in the past month, while both Yawww and Solanart have increased their presence.
Yawww is the marketplace that has grown the most in volume during these past months Yawww was proposed as a marketplace that allowed 0 creator fees (equivalent to supporting to peer-to-peer in terms of creator fees), so many users that want to sell their NFTs can lower the price compared to other marketplaces and still get paid the same or more.
As there are not many collections being sold in Yawww and the volume is fairly high, the daily average sales volume is only one third of Magic Eden’s volume despite the difference between the two in sales and volume.
Despite Solanart being open for a longer time than Yawww, the latter has 3 times more sellers than Solanart.
The average sales price is much higher in Yawww (35 SOL) than in Magic Eden and Solanart. Moreover, Solanart’s average sales price is also higher than Magic Eden’s. This is because Yawww and Solanart are marketplaces where NFTs can be sold at a 0% royalty, so they are attractive for expensive sales where the royalty amount to be paid is signifcant to the seller.
The NFT that was sold more times at a 0% royalty fee was sold 74 times, followed by one that was sold 55 times. The later belongs to the Sharkz collection, which has a creator fee royalt of 8.5% in other secondary markets like Magic Eden or Opensea.
On the other hand, Solanart’s most sold NFT at a 0% royalty fee had 30 sales. However, this is an NFT from the Solana Vegas Pass which has a 0% royalty fee.
Aproximately, half of Yawww’s NFTs have been sold at a 0% royalty, while the other half have been sold between 0 (not included) and 2%.
On the other hand, Solanart sold about 70% of its NFTs at a 0% royalty fee. It is a strange secnario to see collections with a royalty higher than a 2% in these 0% marketplaces.
Despite Magic Eden enforcing the royalties set by the collection creators, most of them had between a 0 and a 2%. This is probably due to the fact that we are currently in a bear market, and NFT creators are aware that the lower the fees that the users have to pay, the more appealing the collections will be for them.

99.1% of all the NFT sales on Solana are performed through the Magic Eden marketplace.

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The number of sales have been decreasing during the last 3 months with some spontaneus peaks due to a collection launch or a big $SOL price movement.

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Yawww is the second largest marketplace by sales out of the three, but it is far from Magic Eden still.

Despite most collections being sold in Magic Eden, Yawww and Solanart have increased the number of collections sold since mid August.
Yawww and Solanart have sold a similar number of unique collections (263 compared to 212 respectively).

On average, every collection sold in Magic Eden sells 1322 NFTs over time.

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On the other hand, Yawww being a newer marketplace which just recently gained popularity it has only sold 38.5 NFTs per collection.

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Despite Magic Eden selling 96.3% of collections in total, the daily chart shows that Magic Eden has been selling less collections in the past month, while both Yawww and Solanart have increased their presence.

Magic Eden also holds the number 1 spot as the top marketplace by NFT sales volume. It has 3.94M SOL traded in NFT sales during the past 3 months.

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On the other hand, Solanart only increased by a small amount in volume since mid August.

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However, Yawww is the marketplace that has grown the most in volume during these past months Yawww was proposed as a marketplace that allowed 0 creator fees (equivalent to supporting to peer-to-peer in terms of creator fees), so many users that want to sell their NFTs can lower the price compared to other marketplaces and still get paid the same or more.

As there are not many collections being sold in Yawww and the volume is fairly high, the daily average sales volume is only one third of Magic Eden’s volume despite the difference between the two in sales and volume.

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As Magic Eden is the most popular marketplace in Solana, it is a place where any kind of collections are sold (no matter the price).

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On the other hand, Yawww’s value rests on the fact that the creator fees can be 0. Thus, it is usually atractive for expensive collections. Thus, there have been many days during the past two months where the average sales volume per collection has been higher in Yawww than Magic Eden.

As it happened with the number of sales, the majority of sellers are in Magic Eden.

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As mentioned above, Yawww has not been adopted massively yet, so it is commonly a place where a minority of users go to trade their NFTs more profitably.

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Despite Solanart being open for a longer time than Yawww, the latter has 3 times more sellers than Solanart.

On average, every seller on Magic Eden has sold 9.14 NFTs during the past 3 months.

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As there have been less NFTs sold in Yawww and Solanart compared to Magic Eden, the number of NFTs per seller are not that far from the latter (in comparison to seller difference).

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Yawww and Solanart have a similar number of NFTs sold per seller.

The average sales price is much higher in Yawww (35 SOL) than in Magic Eden and Solanart. Moreover, Solanart’s average sales price is also higher than Magic Eden’s.

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This is because Yawww and Solanart are marketplaces where NFTs can be sold at a 0% royalty, so they are attractive for expensive sales where the royalty amount to be paid is signifcant to the seller.
Thus, despite having a lower popularity Yawww and Solanart are eating into the market share of Magic Eden in terms of whale sales (= very expensive sales).

The NFT that was sold more times at a 0% royalty fee was sold 74 times, followed by one that was sold 55 times. The later belongs to the Sharkz collection, which has a creator fee royalt of 8.5% in other secondary markets like Magic Eden or Opensea.
On the other hand, Solanart’s most sold NFT at a 0% royalty fee had 30 sales. However, this is an NFT from the Solana Vegas Pass which has a 0% royalty fee.

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The difference in number of sales of the top 0% fee NFTs is comprehensible, as we saw above that Yawww has sold 4 times more NFTs (10.13k) than Solanart (2.59k).

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Aproximately, half of Yawww’s NFTs have been sold at a 0% royalty, while the other half have been sold between 0 (not included) and 2%.

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On the other hand, Solanart sold about 70% of its NFTs at a 0% royalty fee. It is a strange secnario to see collections with a royalty higher than a 2% in these 0% marketplaces.

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Despite Magic Eden enforcing the royalties set by the collection creators, most of them had between a 0 and a 2%. This is probably due to the fact that we are currently in a bear market, and NFT creators are aware that the lower the fees that the users have to pay, the more appealing the collections will be for them.

Conclusions

99.1% of all the NFT sales on Solana are performed through the Magic Eden marketplace.
Yawww and Solanart have sold a similar number of unique collections (263 compared to 212 respectively).
Despite Magic Eden selling 96.3% of the total collections amongst the three marketplaces, the daily chart shows that Magic Eden has been selling less collections in the past month, while both Yawww and Solanart have increased their presence.
Yawww is the marketplace that has grown the most in volume during these past months Yawww was proposed as a marketplace that allowed 0 creator fees (equivalent to supporting to peer-to-peer in terms of creator fees), so many users that want to sell their NFTs can lower the price compared to other marketplaces and still get paid the same or more.
As there are not many collections being sold in Yawww and the volume is fairly high, the daily average sales volume is only one third of Magic Eden’s volume despite the difference between the two in sales and volume.
Despite Solanart being open for a longer time than Yawww, the latter has 3 times more sellers than Solanart.
The average sales price is much higher in Yawww (35 SOL) than in Magic Eden and Solanart. Moreover, Solanart’s average sales price is also higher than Magic Eden’s. This is because Yawww and Solanart are marketplaces where NFTs can be sold at a 0% royalty, so they are attractive for expensive sales where the royalty amount to be paid is signifcant to the seller.
The NFT that was sold more times at a 0% royalty fee was sold 74 times, followed by one that was sold 55 times. The later belongs to the Sharkz collection, which has a creator fee royalt of 8.5% in other secondary markets like Magic Eden or Opensea.
On the other hand, Solanart’s most sold NFT at a 0% royalty fee had 30 sales. However, this is an NFT from the Solana Vegas Pass which has a 0% royalty fee.
Aproximately, half of Yawww’s NFTs have been sold at a 0% royalty, while the other half have been sold between 0 (not included) and 2%.
On the other hand, Solanart sold about 70% of its NFTs at a 0% royalty fee. It is a strange secnario to see collections with a royalty higher than a 2% in these 0% marketplaces.
Despite Magic Eden enforcing the royalties set by the collection creators, most of them had between a 0 and a 2%. This is probably due to the fact that we are currently in a bear market, and NFT creators are aware that the lower the fees that the users have to pay, the more appealing the collections will be for them.

Methodology

The data used in this analysis was collected by combining the information on the ez_nft_sales, dim_nft_metadata and the fact_transactions tables of the core schema of the Ethereum database.

The first table provided information about the NFT sales on Ethereum, which were analyzed with different metrics such as sales, volume or sellers.
The second table was joined with the first one to obtain the collections sold.
Finally, the third table contained the sales royalties information in the inner_transactions json column. This was the trickiest part, as each marketplace uses a different program/structure in the json. For each marketplace, the following json parsings provide where the royaltiescan be extracted from:
- Yawww: inner_instructions[0].instructions[6].parsed.info.lamports/pow(10, 9)
- Solanart: inner_instructions[1].instructions[0].parsed.info.lamports/pow(10, 9)
- Magic Eden v1: inner_instructions[0].instructions[2].parsed.info.lamports/pow(10, 9)
- Magic Eden v2: inner_instructions[2].instructions[0].parsed.info.lamports/pow(10, 9)