what is flow

Flow (FLOW) is a high-performance blockchain specifically for creating NFTs, massive crypto games, and apps. Unlike general-purpose blockchains such as Ethereum, Flow is built to efficiently scale for potentially billions of people interacting with NFTs like in-game items. \n

Created by Dapper Labs, the same team behind NBA Top Shots and the infamous CryptoKitties blockchain game, Flow is a project in the right place at the right time. The NFT market is booming, and enormously popular social media platforms like TikTok and Twitter are rolling out NFT features.

How does Flow work?

Flow uses a proof of stake consensus mechanism that requires validators to stake a certain number of FLOW tokens to participate in the network.

However, the way that validation works is unique amongst blockchains, as Flow splits validation tasks into four separate types of nodes: consensus, verification, execution, and collection. All four node types participate in the validation of each transaction.

Dapper says that splitting up the tasks makes processing transactions more efficient than on rival blockchains. It’s an alternative option to sharding, or spreading out the storage and computational needs of a blockchain across numerous nodes. Flow does not use sharding, and by doing so, Dapper says that Flow keeps transactions atomic, consistent, isolated, and durable (ACID), and allows developers to build on each others’ work.

qustions:

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?

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What do "whales" tend to focus on in Flow? How common is "flipping" on Flow (selling within 24 hrs, within a week etc) compared to other chains, or do wallets tend to hold onto their NFTs? Are wallets more interested in new projects, or already existing projects on Flow?

comparing wallet behavior for buying and selling NFTs on Flow compared to Ethereum and Solana , we counted all transactions of buying or selling NFTs on flow , etherum and solana within 4 month, then we visualized them bellow.

here is the code:

with flow as ( select count(BUYER) as number_of_flow_NFT_trads , date_trunc(month,BLOCK_TIMESTAMP) as date_1 from flow.core.fact_nft_sales where BLOCK_TIMESTAMP> '2022-04-01 00:00:00.000' group by 2 order by 2 ),

solana as ( select count( SELLER) as number_of_solana_NFT_trads , date_trunc(month,BLOCK_TIMESTAMP) as date_2 from solana.core.fact_nft_sales where BLOCK_TIMESTAMP> '2022-04-01 00:00:00.000' group by 2 order by 2 ),

etherum as ( select count(BUYER_ADDRESS) as number_of_etherum_NFT_trads , date_trunc(month,BLOCK_TIMESTAMP) as date_3 from ethereum.core.ez_nft_sales where BLOCK_TIMESTAMP> '2022-04-01 00:00:00.000' group by 2 order by 2 )

select number_of_flow_NFT_trads , number_of_solana_NFT_trads , number_of_etherum_NFT_trads , date_1 from flo join solana on flow.date_1=solana.date_2 join etherum on flow.date_1=etherum.date_3

the chart outcome is :

1-number of NFT transaction for etherum and flow has had a downward trend (because of the bear market) but number of solana NFT transactions has had a upward trend

2-number of NFT transactions on etherum is more than both flow and solana.

flow has had the lowest number of transactions within 4 month

we also counted flow sold NFT number for each month bellow :

What do "whales" tend to focus on in Flow?

we joined these two table to count number of transactions of each collection within this four month and find out witch collection had the most transaction.

flow.core.dim_contract_labels

flow.core.fact_nft_sales

as you can see the two most popular trending nft collection are TOPSHOT & ALLDAY

it shows that whales prefer these two collection for trading

How common is "flipping" on Flow (selling within 24 hrs, within a week etc) compared to other chains, or do wallets tend to hold onto their NFTs?

we called a NFT owner as a holder if he/she didn’t sell his/her NFT at least for 1 month .

based on (( all NFT ID )) and (( max(BLOCK_TIMESTAMP) )) we checked the last transaction date of each NFT then we count them grouped by their last transaction time.

here is the code:

with last_time_NFT_trade as ( select NFT_ID as NFTID , max(BLOCK_TIMESTAMP) as date_ from flow.core.fact_nft_sales group by 1 order by 2 desc ) select count(NFTID) , date_trunc(month,date_) from last_time_NFT_trade group by 2 order by 2

the donut visualization above shows that more than 90% of NFTs were bought within more than one month.

the result is owners of flow NFTs , are nft holders not nft traders.

Are wallets more interested in new projects, or already existing projects on Flow?

to answer this question at first we found NFT COLLECTIONs that were created since JUL 1ST and called them new collections

and we called other nft collections as old ones .

then we compared number of each group transactions with the code bellow :

with collection_start_time as ( SELECT min(BLOCK_TIMESTAMP) as date_, CONTRACT_NAME as cn FROM flow.core.dim_contract_labels JOIN flow.core.fact_nft_sales ON flow.core.fact_nft_sales.NFT_COLLECTION=flow.core.dim_contract_labels.EVENT_CONTRACT

GROUP by 2 ORDER BY 1),

new_collections as ( select * from collection_start_time where date_> '2022-07-01 00:00:00.000' ),

event_lable_new_collections as (

select EVENT_CONTRACT as evc from flow.core.dim_contract_labels join new_collections on new_collections.CN = flow.core.dim_contract_labels.CONTRACT_NAME ),

count_new_collection_sold as ( select count(TX_ID) as new_ , 1 as o from flow.core.fact_nft_sales join event_lable_new_collections on event_lable_new_collections.evc=flow.core.fact_nft_sales.NFT_COLLECTION ) ,

count_all_NFTs as ( select count(TX_ID) as kol , 1 as oo from flow.core.fact_nft_sales )

select (new_)/(kol)100 as new_collection_sold_percentage , (kol-new_)/kol100 as old_collection_sold from count_new_collection_sold join count_all_NFTs on count_all_NFTs.oo=count_new_collection_sold.o flow.core.fact_nft_sales

This statistic shows that number of new collection trades is less than 0.1% of all transactions and it means :

wallets are more interested in already existing projects on Flow .

thank you