Try Quests to earn SOLNFT Wallet Behavior Comparison
Project : Flow
Bounty Name : NFT Wallet Behavior Comparison
Question: Create a series of dashboards comparing wallet behavior for buying and selling NFTs on Flow compared to Ethereum and Solana. Is there more or less "whale" activity on Flow compared to each of the other chains?
Date of analysis : 2022-07-19
What is Flow Blockchain?
The next obvious factor you look for in a Flow blockchain guide is the definition. Flow is basically a decentralized, fast, and developer-centric blockchain tailored for encouraging the growth of a completely new assortment of apps, games, and digital assets. Flow blockchain utilizes a distinct, multi-role architecture that focuses on the inherent benefit of scaling without sharding. Therefore, it can enable considerable advantages by improving throughput and speed while maintaining ACID compliance and a developer-friendly environment. Flow is an ideal instrument for developers to create profitable crypto and crypto-based businesses.
The applications on Flow could also help consumers take control of their individual data. At the same time, Flow also helps in creating completely new variants of digital assets, which you can trade on open marketplaces which are accessible from any location in the world. Another important aspect in the answers to ‘what is Flow blockchain’ is directly evident in its capabilities for enabling the development of open economies under the ownership of users, which add further value.
You can assemble smart contracts on Flow blockchain just like you would join Lego blocks together. Flow blockchain helps in creating and powering apps, which cater to the needs of billions of people as well as enterprises with mission-specific requirements. source
What Is an NFT?
An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. The market for NFTs was worth a staggering $41 billion in 2021 alone, an amount that is approaching the total value of the entire global fine art market.
NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.
This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand.source
The amount of buy and sell NFTs in Flow almost close to solana, some days it is more than that and some days it is less than that.
The point that attracts attention is that the amount of buyers in flow are decreasing but solana buyers are stable so this show us NFT buyers have no incentive in Flow network. In NFTs market, the biggest share is for Ethereum and the amount of buyers and sellers in Ethereum has been almost stable. The holders of NFTs of the Flow network are very loyal to their NFTs, because 59% o the m hold their NFTs over than 30 days and it show users are very loyal.The popular NFT collection for whales was TopShot and and for this reason the popular marketplace for whales was TopShotMarket. TopShot with 1.1M transactions with a big difference compared to its competitors, between whales was very popular.
