The NFT market is a very attractive market and has its loyal fans, and as you know, this market received a lot of attention from the end of the previous year until a few months after the beginning of the new year, and we saw that daily volumes of many funds It was used to buy and sell NFTs. When you want to buy an NFT, you must be able to buy it from a market, and the markets must charge you a fee in order to provide you with good and special services. Opensea is a marketplace that is very popular and naturally has many users, so it is expected to gain a large amount of fee, and we can see this in the opposite chart. At the beginning of this year, we can see that the amount of fees received by Looksrare has increased so much that it has even exceeded that of Opensea, which is probably due to the volume of its transactions, which I will check later. In recent times, we have seen that the volume of fees received by all marketplaces has decreased, which is due to the fact that users have less motivation to buy and sell NFT, and in this decrease in volume, we see that Opensea has returned to the first place and from All the marketplaces have a higher percentage of dominance and on some days NFTX has a higher percentage of dominance than Looksrare.

As you can see, Opensea has the largest volume of NFT transactions, and a total of 22.7 million NFTs have been traded on this platform with 33 billion dollars, so with this volume of transactions, it is natural that Opensea receives the highest fees from its users. The fee received by this platform is 825 million dollars. In this platform, the highest fee earned for the platform was $2.45 million.

In the next rank, where the total sale of NFTs is 27 billion dollars and the total number of NFTs traded is 277,000 is Looksrare, and the remarkable thing is that this platform was sold with such a small number of NFTs. It managed to earn 542 million dollars fee, which is a little strange in its own way, and the highest fee earned on this platform is 6 million dollars, which is the first rank among its competitors.

The remarkable thing is that the number of buyers and sellers on the Looksrare platform is one-twentieth that of Opensea, but the fee earned by this platform is very close to Opensea.

In the third place is X2Y2, the total fee earned by this platform is 16 million dollars, which is very small compared to the previous two platforms, and the amount of fee earned by other marketplaces is very small because the volume of their transactions is very low and users They have much less, that's why their acquisition fee is also low

As you have probably noticed by now, Opensea has the first rank among the marketplaces in almost all criteria. While we can see that a big platform like Opensea has not seen an increase in its sales and users in the last few days, but platforms like X2Y2 and SudoSwap have an upward trend in the number of sales and users, and yet they did not gain much popularity, and this is a good sign.

A very important point that you must have noticed by now is that the Looksrare platform has gained a lot of fee and now you can see in the charts below that the number of NFT sales on this platform is in a sharp downward trend, as well as buyers and sellers. In this platform, compared to other platforms, it has decreased a lot, and this shows that the volume of fees earned by this platform has not had a good effect on this platform, and on the contrary, it has caused a decrease in all the criteria of this marketplace.

In a few weeks, the popularity of the NFTs market has decreased and the motivation of users to buy NFTs has decreased, and in the meantime, it is natural that the price of NFTs in the market will decrease due to low demand, but among NFTs Looksrare platform experienced the biggest price drop and it can almost be said that they fell freely, and this is not good news for this platform at all.

The number of NFTs sold in a marketplace is one of the main criteria for receiving fees for that platform, and as you know, because the number of NFT sales in Opensea is very high, the average fee received per NFT sale on this platform is only 36 dollars and this is while this number is close to 2000 dollars in Looksrare, which is a very large number.

The amount of fee received per NFT sale is also lower on the SudoSwap platform, which is only $2.8, of course, because the number of NFT sales on this platform is very small.

The number of NFT buyers is very low on the Looksrare platform, and on the other side, the volume of their transactions is very large, so as a result, the platform fee per buyer on this platform increases, so that the fee per buyer on this platform is $6,200. It is a very big figure, and this figure is only 400 dollars on the very popular and large opensea platform.

The amount of fee per buyer in other platforms is small because they have fewer users and the volume of transactions is also small, but this low amount does not necessarily indicate that the platform is good.

NFT sellers always try to sell their NFT in a market that has a lot of users to sell their NFT quickly and the platform receives a lower fee so that the seller can make more profit.As I mentioned before, Looksrare has fewer users and therefore less sellers, but the volume of transactions is high. The fee received by this platform per seller is very high and nearly 6300 dollars.

The point that attracts attention is because the NFTX platform has only 417 sellers and fee received by this platform per seller is $9,000, which is a very high figure.

When a user wants to sell his NFT, he first looks at the percentage per platform, because if this percentage is high, the seller earns less profit from his sale, and this is not a good point. As you can see, the percentage of platform fee in Rarible is the highest among its competitors, and this makes users not interested in using it. In this platform, the percentage of fees is close to 5%, which is a large number, while the percentage of fees in Opensea is only 2.5%, and users prefer their NFT with a lower percentage of fees in the very popular Opensea platform. to sell and that is the reason why its users are very open

As you can see in the opposite graphs, the most popular cryptocurrency for platform fee is ETH , so that in the popular Opensea platform, nearly 90% of the fees are paid with ETH.

In platforms like Looksrare, you can only pay the fee with one cryptocurrency, which is WTH in this platform, and in the NFTX platform, the platform's own native token is used to pay the fee.

On Opensea platform, the highest fee received is for the Boredapeyachtclub project, and this platform has managed to earn $47.6 million fee through this project, which is a significant amount.

In Looksrare, the situation is a little different, the highest fee received by this platform is through the terraforms project, but here there is a significant point, which is that this platform has earned $240 million in fees through this project, which means half of the total The fee earned by this platform is for this project.

The same conditions exist in the Rarible platform, and this platform has managed to earn about 3.5 million dollars in fees through the Rarible nfts project, which is almost 40% of the total fees earned by this platform.

In Opensea, the highest amount of fee paid by a user was 885 thousand dollars, which is almost 1% of the total amount of fee paid, which is a very large number.

The conditions are slightly different in Looksrare as before and in this platform two users 0xa53496b67eec749ac41b4666d63228a0fb0409cf and 0xd73e0def01246b650d8a367a4b209be59c8be8ab paid about 95 million dollars in total, nearly 20% of the total fees paid in this platform.

We have similar conditions in other marketplaces, such as X2Y2, because there are two users on this platform, who have paid a total of 5 million dollars each, about 30% of the total fee on this platform.

Platforms Fee overtime

Total Stats

Fee's influence on popularity

Better understanding of the amount of fee

Fee with what and for what?

Thanks for reading

• All data used are from: Flipside Crypto

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• My Twitter: Sepehrmhz8

Conclusion

By examining all the data, only one very simple point can be reached, and that is that the volume of a marketplace may increase a lot in a short period of time and it can earn a lot of money, but if it cannot, it will lose its users and ideal conditions. Keeping it slow can cause bad things to happen to that marketplace. For example, Opensae, the most popular marketplace in the world of NFTs, slowly increased and decreased in volume, but it was the most popular, but for example Looskrare was able to earn a lot of money in a short period of time, but after that It faced a sharp drop in users and volume, and even the price of NFTs suffered a sharp fall

Project : Ethereum

Bounty Name : Open Analytics Bounty: ETH (October 9)

Question: NFT marketplaces charge a fee for the services they provide, but they should charge a fee commensurate with the services they provide because they may lose their users by increasing the fee. In this dashboard, I try to check the impact of marketplaces fee on their popularity.

Date of analysis : 2022-10-09

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

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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

Methods

Tables I used :

ethereum.core.ez_nft_sales

I use platform_fee_usd because if calculations and analyzes are done with dollars, it becomes very easy for the audience to understand.

I put platform_fee_usd > 0 so that there is no error in the calculated volumes for the marketplaces.

Metrics

• Platforms Fee overtime

  Volume of platforms fee per Platform Total platforms Fee per Platform overtime

  Volume of platforms fee per Platform (Normalize)

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• Total Stats

  Total platforms fee per Platform Total Sale Volume per Platform

  Total NFT Sales per Platform Total NFT Buyers per Platform

  Total NFT Sellers per Platform Min,Avg&Max platforms fee per Platform

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• Fee's influence on popularity

  NFT Sales Volume per Platform Number of NFT Sales per Platform

  Number of NFT Sellers per Platform Number of NFT Buyers per Platforms

  Number of NFT project per Platforms Average NFT Price per Platform

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• Better understanding of the amount of fee

  Average amount of platforms fee per NFT Sales Average amount of platforms fee per NFT Buyers

  Average amount of platforms fee per NFT Sellers Average Percentage of platforms fee per Platform

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• Fee with what and for what?

  Top 5 Assets paid for Platforms Fee Top 5 Project with most Platforms Fee

  Top 10 Users with most paid Platform Fee

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