Project : Ethereum

Bounty Name : Open Analytics Bounty: ETH (November 13)

Question: In this dashboard, I tried to check all the data related to Blur Marketplace, which has just started working for a month, and I checked very nice points in this dashboard. Let's check this marketplace in detail together.

Date of analysis : 2022-11-19

What is NFT?

An NFT is a digital asset that can come in the form of art, music, in-game items, videos, and more. 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

What is NFT Marketplace?

Conceptualizing NFT marketplace

It is a platform that makes it simple to store and sell NFTs. These tokens are generally available for purchase or auction at a set price. To use an NFT marketplace, you will need a crypto wallet to store and trade your best NFT tokens.

Users have to create an account, upload digital artworks, and sell their work on the marketplace. In general, specialized marketplaces are more popular than conventional ones because they include everything a client would require—specialized marketplaces expertise in promoting online artworks and concentrating on specific target audiences.  source

Blur

Blur is a new NFT marketplace backed by renowned investors, Paradigm, 6529, Cozomo Medici, dhof, Bharat Krymo, Zeneca, OSF, MoonOverlord, icebergy, Deeze, Andy8052, and Keyboard Monkey. The company behind Blur raised $11M from these investors. The team includes developers and creators with experience across MIT, Citadel, Five Rings Capital, Twitch, Brex, Square, and Y Combinator. 

The new marketplace was in a private development phase for 276 days before it was officially launched on October 19, 2022.  source

Methods

Tables I used: I use ethereum.core.ez_nft_sales, I count distinct buyer_address for number of Buyers and i count distinct seller_address for number of Sellers. I count distinct tx_hash fornumber of Sales and I count distinct tokenid for number of NFTs and i count distinct project_name for number of Collections and i sum price_usd for sales volume in usd and i filter all transactions with

platform_name = 'blur' because i just want Blur marketplace data.

Metrics

• Number of Sales
• Number of Buyers
• Number of Seller
• Number of NFTs & Collections
• Sales Volume
• Avg,Min & Max Sale Volume
• Total Number of Buyers
• Total Number of Sellers
• Total Sale Volume
• Distribution of Buyers Based on Volume
• Top 10 NFT Buyers
• Average Number of Purchases per Buyer
• Distribution of Sellers Based on Volume
• Top 10 NFT Sellers
• Average Number of Sales per Seller
• Top 10 NFT Collections
• Volume of Creators Fee

Thanks for reading

• All data used are from: Flipside Crypto

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• My Twitter: Sepehrmhz8

Conclusion

This marketplace, which has been operating for about a month, has been able to make itself popular among users, and the number and volume of user transactions in this marketplace, which has just started operating, is a very good amount, and there is a very important point that this market polices users. It has loyalty that their activity in this marketplace is very high and this marketplace can definitely improve much more by increasing features and strong marketing, although it has become very popular during the last one month that has passed since the beginning of its activity.

Blur Overtime

It can be said that the beginning of Blur activity has been very good and on the first day when this marketplace started working, a total of 513 NFTs were sold, and on the next day, October 20, a total of 3,750 NFTs were sold. That is, the multiple growth shows that this marketplace has had a very good start. The activities in this marketplace continued well until at the beginning of November, the activities in this marketplace increased again, so that on November 4, a total of nearly 7,000 NFTs were sold, which is a very large increase for this marketplace. and this means that this marketplace has become very popular among users. This increase in activities continued for several days in this marketplace, but from November 7 onwards, the activities decreased slightly, although the amount of activities is still high and the popularity of this marketplace is still very high among users.

The amount of users of this marketplace has been good considering that it has just started working. On the first day, the total number of buyers and sellers of this marketplace was 951 users, which is a good start for this marketplace, and on the next day, the total number of users of this marketplace reached 5500 users, which is It is considered a very good growth, and the trend of attracting users was very upward until November 6, so that on this day, 9180 users reached, which is almost 10 times the growth compared to the day this marketplace started, but after this day, the trend of the number of users This marketplace has been down and it seems that there has been a slight decrease in user activity on this marketplace.

The trading volume of this marketplace at the beginning of its activity was 188 thousand dollars and this process continued until October 30th, but after that the trading volume of this marketplace increased terribly, so that its trading volume reached nearly 20 million dollars on November 2nd. It is very good for this marketplace and it shows that even though it has just started to operate, it is very popular among users and the volume of user transactions in this marketplace is very high.

Blur Total Stats

Buyers in Blur

It can be said that the buyers of this marketplace are active, because on average, each buyer has bought about 3 NFTs in this marketplace, which shows that the buyers of this marketplace are active, and their average transaction volume is $3,770 per buyer, which shows that in addition Not only that the number of their purchases is high, but the volume of their purchases is also high.

Most of the buyers of this marketplace, which are 38% of the users, their purchase volume is between 10 and 100 dollars, and this means that because this marketplace has just started, the main users have not yet been added to it, and the next group that has the most buyers It is dedicated to the group whose transaction volume is between 100 and 1000 dollars, 31% of users are in this group, which shows that some users have enough trust in this marketplace and their transaction volume is also high, and the last group is also their transaction volume. It is above $10,000 and there are a total of 19 buyers in this group, which is a very high number for 31 days, and this shows that there are loyal users on this platform and the volume of their transactions is also very high.

The most active user of this marketplace is 0x729cfa0f61946c8a558da84103f332d310a9d26a, who bought a total of 418 NFTs, which is a very good number for 31 days, and this shows that this user is very interested in this marketplace, and his activity in it is very high, and the total transactions of this The user has a total of 27 thousand dollars, which shows that this user is very active and we still have a user like this in this marketplace.

This user has the largest number of purchases, but the largest purchase volume is for 0xed2ab4948ba6a909a7751dec4f34f303eb8c7236, which is the total purchase volume of this user in these 31 days is 1.7 million dollars, the interesting thing is that this purchase volume is for only 49 NFT and this This means that this user only buys very valuable NFTs because the volume of his purchases is very high compared to the number of his purchases, and this shows that this user is a hunter of very valuable NFTs in this marketplace.

Sellers in Blur

As you can see, the number of Blur sellers was more than its buyers, but it seems that the sellers are not as active as the buyers, because the number of sales per seller is 2 NFT, which means that their activity is less than the buyers, on the other hand, their sales volume is also less. and it seems that this marketplace is more attractive to buyers than sellers.

Nearly 25 thousand sellers or in other words 42% of all sellers have a sales volume between 10 and 100 dollars, which is considered the largest group of users of this marketplace, and nearly 30% of sellers have a sales volume between 100 and 1000 dollars and this shows This marketplace also has active sellers whose sales volume is high, and on the other hand, this marketplace has 21 sellers whose sales volume is above $10,000, which shows that this marketplace has very loyal sellers whose sales volume is very high in this marketplace.

The most active seller in this marketplace is 0x3a8713065e4daa9603b91ef35d6a8336ef7b26c6, who has sold a total of 398 NFTs, which shows that this user is very active because the number of his sales is very high, and the total volume sold by this user is 70 thousand dollars, which shows that this user It has had valuable NFTs.

The highest volume of NFT sold is for 0xed2ab4948ba6a909a7751dec4f34f303eb8c7236, which is the total volume of this user, the total volume sold by this user is 1.7 million dollars, and this user has sold this volume of NFT by selling only 72 NFT. This definitely shows us that this user has very valuable NFTs that, although their number is very small, but their sales volume is very high.

Popular Collections

The most popular NFT collection in the last 31 days, the otherside, which has a total of 764 buyers and 725 sellers, and the total transaction volume of this collection is 6 million dollars, and during this period, this collection has been the most popular NFT collection in this marketplace. . The point is that the largest transaction volume is not for this collection, but for boredapeyachtclub, which has sold only 110 NFT during this period, but the sold volume of the same 110 NFT is close to 10 million dollars, which shows that The NFTs of this collection are very valuable because their number is very small compared to their sales volume, and this means that this collection has a very high value.

It seems that the azuki collection has a very high value because this collection sold only 290 NFTs, but nevertheless, the sales volume of NFTs in this collection is 5 million dollars, which is very high compared to the number of NFTs. And this shows that the NFTs of this collection are very valuable.

Creators Fee

As the sales volume of NFTs increases, naturally, the amount of Creators Fee also increases, which is a very positive point for this marketplace, because Creators Fee is very attractive to NFT manufacturers, and when its amount increases in a marketplace, it can be very beneficial. It increases the market place and makes more NFT brokers attracted to this market place.

During this period, the total amount of Creators Fee in this marketplace was 862 thousand dollars, and the highest amount was for November 2, when 143 thousand dollars of Creators was paid on this day.

The highest amount of creator fees received is also for the otherside, which has received a total of 40,000 dollars fees, and this is the amount for the most popular collection of this marketplace.

As of today, when I present this analysis to you, 31 days have passed since the start of this marketplace. Let's see how much activity has been done in this marketplace in this one month.

During this period, this marketplace had a total of 32 thousand buyers and the total number of sellers is 43 thousand, which shows that most of the users of this marketplace are sellers, and in total, these buyers and sellers made more than 107 thousand NFT transactions. This means that the activities of the users are extremely high because the number of their transactions is large and the total volume of their transactions is 120 million dollars, which is a very good number for a marketplace that has been active for 31 days and shows that This marketplace has been able to attract the trust of users. In total, in these 31 days, 841 collections were created in this marketplace, which shows that NFT creators are interested in operating in this marketplace, and this marketplace can attract famous NFT creators by creating attractive positions and features. to attract and greatly increase the volume of transactions. A total of 20,700 NFTs have been traded in this marketplace, with an average price of $546 per NFT, which shows that the value of NFTs on this platform is high because it is the cheapest NFT sold. It is worth $50 in this market, which is a very good number compared to its competitors, and the most expensive NFT sold in this marketplace is $342,000 which shows that there are also very valuable NFTs in this marketplace.