Questions

Let’s sweep some floors. Build a dashboard that tracks the floor by contract for various NFT projects in the FLOW ecosystem. We’re interested to see how you come up with your own methodology.

Include at least five projects in your dashboard, as well as any interesting metrics, notes, trends, or outliers that you see.

BONUS: Post your dashboard on Twitter and tag @flipsidecrypto and any relevant accounts!

Introduction

What are NFTs? source

• A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.[1] The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.

What is Floor Price? source

• Floor Price is the lowest price for NFT collection items

What is Flow Blockchain? source

• Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering. Flow also has a native cryptocurrency that trades under the symbol FLOW.

Method

• We acquire NFT Sale information from the table flow.core.ez_nft_sales in last 90 days
• We choose 5 projects from Top5 Projects that has highest Volume in last 90 Days
• We find Floor Price by using min() function
  • We find Overall Floor Price, which is Floor Price over these 90 Days
  • We find Daily Floor Price and plot by date
• We find Distribution of Daily Floor Price to tell how frequent each Floor Price occur
• Data is between Jul 29 2022 to Oct 26 2022

Daily Floor Price (USD)

We Plot daily Floor price along with Ceiling/ Average/ Median/ Mode Price for all 5 chosen NFT collections

From observation

• Floor Price is quite discrete (there are not much possible value of floor price)

• Floor Price does not manipulate other kind of price

  \

AllDay

• Floor price is around 1-6 USD
• In September, floor price is higher than usual, but it does not have any effect on other price

TopShot

• Mostly, Floor price is at 1USD
• There are some days that it reaches lower, but not lower than 0.1
• There is one day on Sep 21 2022, that floor price reaches 0.01

PackNFT

• Floor price is not stable, it fluctuates from 84 - 4.99 USD
• Interestingly, there are some period that floor price is even equal to ceiling price
• Like in September, all price are 84 USD, and 59 USD in late August

UFC

• Floor price is almost 1 USD everyday

• only on Oct 20 2022 the floor price goes down to 0.3 USD

  \

Basketballs

• All price are identical, equal to 10 USD
• it means every NFTs in this collection has price of 10 USD

5 Chosen Projects

We choose 5 projects from Top 5 largest Volume Sale in last 90 days, which are

1.) AllDay (29.6M USD)

2.) TopShot (19.6M USD)

3.) PackNFT (7.85M USD)

4.) UFC_NFT (2.55M USD)

5.) Basketballs (1.03M USD)

We also provide Overall Price statistic of all projects in the lower left most graph

It includes Ceiling Price, Average Price, Median Price, and Floor Price

• Highest Floor Price is from Basketballs (10 USD) followed by PackNFT (4.99 USD) > AllDay (1 USD) > UFC_NFT (0.3 USD) > TopShot (0.01 USD)

Floor Price Distribution

From daily Floor Price graphs above, we try to find more statistics of Floor Price which is easier to understand

We collect Floor Price of each day and count that how many days that the NFTs are sold at that Floor Price, in other word, it is Floor Price distribution

AllDay

• There are 6 value of Floor Price, from 1 to 6 USD

• The most frequent Floor price is 2 USD for 68 days (37.8%)

• The least frequent Floor price is 6 USD for 1 days (1.11%)

TopShot

• There are 14 value of Floor Price, from 0.01 to 1 USD

• The most frequent Floor price is 1 USD for 34 days (75.6%)

• The least frequent Floor price is 0.01USD for 1 days (1.11%)

PackNFT

• There are 4 value of Floor Price, from 4.99 to 84 USD

• The most frequent Floor price is 59 USD for 34 days (58.8%)

• The least frequent Floor price is 4.99 USD for 1 days (1.96%)

UFC

• There are 2 value of Floor Price, 0.3 and 1 USD

• The most frequent Floor price is 1 USD for 89 days (98.9%)

• The least frequent Floor price is 0.3 USD for 1 days (1.11%)

  \

Basketballs

• There are 1 value of Floor Price, 10 USD (100%)

Conclusions

This dashboard has been tweeted here

From observations

• Floor Price is not continuous value, in other words, there are not much possible value of Floor Price

  • The highest is in TopShot, there are 14 value of Floor Price
  • The lowest is in Basketballs, there are 1 value of Floor Price

• Even there is often more than one value of Floor Price, but there are some value that is large majority

  • AllDay, Majority are 1 and 2 USD, together is 72.2% of days
  • TopShot, Majority are 1 USD, 75.6% of days
  • PackNFT, Majority are 59 USD, 58.8% of days
  • UFC_NFT, Majority are 1 USD, 98.9% of days

Still remember Overall Floor Price over 90 days that we find in the first section?

• Highest Floor Price is from Basketballs (10 USD) followed by PackNFT (4.99 USD) > AllDay (1 USD) > UFC_NFT (0.3 USD) > TopShot (0.01 USD)
• From daily Floor Price and distribution, these Overall Floor Price does not happen very often
• In my opinion, it is dangerous if we simply find Overall Floor Price, such that it may be just outlier of information
• We must be careful if we actually want Overall Floor Price or Majority of Floor Price

Daily Floor Price (USD)