Nansen analyzed the NFT collections of ERC-721 standards such as Bored Ape Yacht Club (BAYC) by analyzing NFT test products.
Written by: Paul Harwood , Nansen Analyst Compiler: Leo Young
In the current NFT market, there are many categories and different forms. Nansen analyzed ERC-721 standard NFT collections such as Bored Ape Yacht Club (BAYC) and The Wicked Craniums. Such collections generally total about 10,000 pieces, and each piece has unique characteristics (trait), so some of them are more precious because of their rarity.
Aesthetic or rarity? Although the Bored-Unshaven-Pizza feature is the rarest (0.26%), Fur-Solid-Gold (0.46%) is currently 44% higher than the base price (approximately US$21,000) because of its aesthetic demand.
Common features with other NFTs help the collection foster community and inclusiveness. Using such NFTs as social media avatars can help holders gain additional social capital and instantly connect with like-minded people. The premium of proprietary NFTs is the explosive collection market. Early investors who can discover truly innovative projects from projects that make quick money will gain both fame and fortune.
Pransky occupies the top of the BAYC ranking with a profit of 1630 ETH (3.2 million US dollars)
From casting to secondary market
The NFT collection is usually minted directly through the contract by the user using the Metamask plug-in wallet at the issuance stage. After all NFT casting is completed, it will be transferred to the secondary market. Most secondary market sales are conducted in OpenSea. Conveniently view the features of the new NFT in OpenSea.
Nansen NFT God model: Bored Ape Yacht Club’s sales and prices have grown rapidly, in line with the increase in the number of exclusive wallets for NFT purchases
Each NFT collection item has its own unique token economy, gaining new features and innovations. The following are the key issues encountered at the beginning of the project:
- What is the initial issuance price of NFT? What should the total amount of NFT be?
- As the number of NFT castings increases, should there be a joint curve price in the casting contract? As a discount for early users.
- Should the NFT content and its characteristics be displayed immediately, or should it be displayed on a limited date?
NFT Paradise
NFT Paradise can be used to compare NFT project data in the past 24 hours. The Nansen automated data can show the complete market data analysis of the NFT collection contract since its deployment.
NFT Paradise: Key data indicators of NFT collection items in the past 24 hours
What does each field mean?
- The total volume of ETH (Volume in ETH) is the main indicator for evaluating the NFT market, and the estimated market value (average price x total NFT) represents the total value of the collection.
- The highest price, average price and lowest price (Max, Avg and Min) represent the price range and characteristics of market transactions.
- %Opensea+Rarible represents the proportion of the total market sales of Opensea and Rarible. As collections transactions shifted from the casting stage to the secondary market, this number began to increase.
- The Transfers and Unique Sends column represents popularity, and users can mark possible actions to manipulate the market by increasing transaction volume.
- Contract Date (Contract Date) can sort the newly deployed contracts, and can quickly identify and track the projects that have recently started casting.
NFT God mode
As long as users are interested in a particular NFT collection, they can click on the NFT Paradise mode and use the NFT God mode to further mine data.
Of particular importance here is the “personal transaction” scatter chart, which shows the reserve price and confidence level.
The reserve price represents the lowest price that any piece of NFT may sell. Rare NFTs may receive a large premium, and ordinary NFTs are usually traded at the reserve price. Since NFTs are not replaceable, the reserve price is an important indicator of the liquidity of NFT collections and represents the best price for quick sale. Through the scatter diagram, the NFT with the highest value can be observed and the sales price can be estimated. If you are curious about why some NFT transaction prices are too high, you can click on the point of the scatter diagram to enter the item introduction page.
The dense area of the dots in the scatter diagram indicates the degree of reserve price information: the reserve price of BAYC NFT increased from the casting price of 0.08 ETH to 4 ETH
Important note: The golden yellow dots in the scatter diagram indicate purchases by well-known users, and represent the overall visibility and influence of the NFT collection.
classification
In the category column, you can see the most purchasers and their purchase details. In this way, the Nansen label becomes an analysis of market formation. In “Top Balances”, you can see which one has the most NFT, whether it is buying or selling. Click on the name to enter the NFT wallet personal homepage, which will contain all the NFT details owned by the wallet. The “NFT God Mode” also has additional data graphs and charts showing the historical balances of the most holders, “smart money” and different types of collectors.
Maximum balance: Dingaling.eth is the largest holder of BAYC NFT, and Pranksy flows out 100+ Ape every week
During the initial casting period, Pransky owned more than 1,200 BAYC NFT works (more than 10% market share), and gradually sold a lot as the popularity of the collection increased.
What will happen after such selling pressure passes? We can check the content of the transaction label to evaluate the market popularity and analyze whether the “smart money” or the legendary wallet is buying or selling.
Legendary Buyers: Such a concentration of purchases by legendary collectors is a signal that BAYC has risen. The decrease in purchases a few days ago may indicate that the attention of this group of well-known collectors has fallen since
Nansen is good at tracking “smart money” wallets that have previously made professional investment decisions (expressed by emoji). Recently, we expanded a new NFT tag type based on the NFT transaction volume of a certain wallet.
Nansen NFT Collector Tag: In-depth analysis of market activities by identifying influential wallets
At present, Nansen’s four NFT dashboards have only more than 30 functions that provide NFT-related data analysis. Dashboard data is still in the beta version, new features and content are still under development, and the content is not used as a reference for important decision-making. Although blindly following Pranksy and dingaling.eth trading is not a good investment method, it helps to understand the whereabouts of important players in the market and how these emerging markets are shaped by reputation and popularity.
Source link: www.nansen.ai
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