Try Quests to earn SOLThe Battle of the Solana NFT Aggregator
What is Hyperspace ?
> Founded in September 2021, Hyperspace.xyz, originally launched as Solanalysis.com, is an open web marketplace for Solana NFTs, providing user-friendly discovery, tooling and shopping aggregated across all marketplaces. Users can track the Solana NFT market, discover and analyze new NFT collections, as well as mint and trade NFTs on Hyperspace.xyz. Through its full suite of user-friendly NFT tools, Hyperspace is driving openness and composability in web3 and allowing anyone to share in the marketplace economy.
What is Coral Cube?
> CoralCube is an NFT marketplace and aggregator that aims to highlight three columns of web3 in the context of NFTs: -Easy and smooth access to the digital content on the Solana blockchain and interactions with on-chain NFT marketplaces. -Transparency wrt NFT ownership and credentials -Community owned/powered platforms and products. These three will ultimately lower the technological and economical barriers for new players to enter the competition and minimize the emergence of monopolies.
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What Are NFT Aggregators
NFT aggregators are decentralized platforms that collect lists of NFTs featured on various marketplaces together on one network for easier access for buyers, traders, and investors. \n \n Since NFTs exploded into the digital assets marketplace, online platforms that see them have equally swelled to fit. There are hundreds of NFT marketplaces, each selling its class of NFTs across boards. This makes it a hectic and time-consuming process of searching across several markets for the different NFTs one might wish to acquire. \n \n NFT aggregators have also solved interoperability problems by bringing transactional data together from multiple Non-Fungible Token marketplaces. They offer price comparisons and other data in one interface, making it easy for users to access all the information they need to choose which assets to get.
Methodology
⭐ Starting date of the most of the tables are '2022-09-22' unless otherwise specified, because of the launch date of Hyperspace , we didn’t wanted to see a solo Coral Cube.
⭐ Blue Chip NFTs =
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Blue chip NFTs are projects that are expected to be stable in terms of value and profitable in the long term.
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Blue chip NFTs have several characteristics in common – a relatively high floor price, brand power, celebrity endorsements, commitment of the project team, and real-world utility.
⭐ Users = Buyers + Sellers combined with duplicate values eliminated.
⭐ User Growth in Solana ecosystem is determined by buyers and their first NFT buy transaction.
⭐ Sales volumes are shown in the Currency of SOL.
⭐ Normalized charts shows the coverage of the two marketplaces in volume or number of sales.
Findings 🔎 - Start Date '2022-09-22'
🌟 We can see that sales volume of Coral Cube has dropped in Sep 24 while the volume of Hyperspace has increased.
🌟 Sales volume of Coral Cube and Hyperspace made a peak in Oct 9, while Coral Cube had 17k SOL sales volume, hyper space had 9k SOL sales volume.
🌟 Since Oct 16 less than %50 of the sales volume happens in Coral Cube this rate was %62 the day before .
🌟 We have seen that Coral Cube sales volume has dropped compared to other months or days, while the volume of Hyperspace has increased, Hyperspace made a peak with taking 89.4% of sales volume in Oct 23.
Findings 🔎 - Start Date '2022-04-24'
Does The Sales Volume Of Coral Cube Dropped After The Launch Of Hyperspace?
🌟 Answer is partially yes untill the Oct 16 volume + sales of Coral Cube has increased but after that sales volume + sales of Hyperspace has surpassed the Coral Cube.
> What happened in October 9 and caused the increase in the sales + volume : DeGods, t00bs, y00ts updated their royalties to 0%. https://twitter.com/DeGodsNFT/status/1579018796244692993?ref_src=twsrc^tfw > > > What happened in October 11 : Solana-based decentralized finance exchange Mango Markets was hit with an exploit of over $115 million. The attacker successfully manipulated the value of MNGO native token collateral, taking out “massive loans” from Mango’s treasury.
Conclusion
💫 NFTs sold on Hyperspace has more quality if we take quality as price, while the AVG sale price of NFTs on Coral Cube is only 0.8 SOL this sale price is 5.22 SOL in Hyperspace, this shows us even if there are 10x less users in Hyperspace, this users are willing to pay 6.5x more than Coral Cube users.
💫 ==We can say that after looking at the most popular collections on both marketplaces, Hyperspace users mostly buys the NFTs like DeGods or big NFT projects that has higher sale price than other NFTs so if a user wants to buy Blue Chip NFTs they can use Hyperspace but if they want to buy potential blue chips that NFTs with low sale price they can use Coral Cube.==
💫 If we take the 0% royalties start date as Magic Eden Starts Optional Royalties Oct 15, we can see that sales volume + sales of both marketplaces has decreased but if we take DeGods, t00bs, y00ts updated their royalties to 0% then we can see that , sales volume + number of sales has increased and made a monthly peak in both marketplaces and their volume in Oct 9 ( Compared to Oct 8 ) made a nearly 2.5x increase for Coral Cube and nearly 9x increase for the Hyperspace. ==So yes DeGods news affected the sales on both marketplaces while the Magic Eden news didn’t affected much.==
💫 Most of the metrics of Coral Cube has declined but this decline was the normal rating of the Hyperspace, so yes Hyperspace now has more volume than Coral Cube but its not because Hyperspace has increased its sales + volume reason of it is Coral Cube has dropped so badly that metrics of Hyperspace become good compared to Coral Cube.
💫 Most popular collections are different in this two marketplaces, while Trippin Ape is popular in Coral Cube, its DeGods in Hyperspace,.
