Solport vs. Magic Eden

The purpose of this article is to compare the sales volume of NFT on Solport to that on Magic Eden after the launch of Solport a NFT marketplace on Solana. How many unique wallets have used Solport over that period compared to Magic Eden? In addition, Solport is strongly linked to the NFT collection Taiyo Robotics, which encourages holders to increase the adoption of Solport. Comparing Taiyo Robotics sales between each marketplace. Is it more important to a seller to grow their own marketplace or to capitalize on access to liquidity? Discuss.

Solport: What is it and how to get it?

The Solport Marketplace is the leading marketplace for trading Solana NFTs. Using the NFT marketplace on Solana App, Solport launched V2 on March 12th, which includes a variety of new features for marketplaces and mobile apps. Here we are discussing about its sales volume and unique wallets by comparing with the Magic Eden Marketplace . 

Based on the below tweet, we can see that Solport V2 has been launched.

Solport is simple to use. You can connect your wallet by clicking “Connect Wallet” in the top right of the website. Your wallet address appears once you log in. Afterward, click again to navigate to “Your Account,” where you can see and list your verified NFTs for sale. Click “Collections” on the website header to explore! Here, Solport charges 2% commission to sellers. There is no fee for submitting, unsubmitting, or canceling an offer.

Magic Eden

Magic Eden NFT is the most popular market on Solana. Known as Magic Eden, it facilitates buying, selling, and minting of NFTs on the Solana Network.The goal is to become the source for finding, trading, and creating NFTs of all types online. Magic Eden, the number one NFT platform on Solana, has done an impressive $2 billion in trading volume in its first two months following its launch.

Comparing Solport vs Magic Eden Since March 12th, 2022

In the following graph, we can see that the number of NFT units that have been sold on both Solport and MagicEden marketplaces since March 12th, 2022 can be found.  A total of 99.46% of the total sales volume of magic eden v2 has been generated through these two markets. In terms of sales volume, Magic Eden is showing an upward trend. From the 22nd of March, 2022, onwards we will be able to see the sales volume for Solport. Before that we were not able to see any sales volumes going to Solport. Sale Volume On March 29,2022 is showing more on both marketplaces than before .

From the below graph we can see the number of NFT transactions on Solport and Magic Eden Since March 12,2022. Initially there is not much NFT transactions on Solport but from March22,2022 onwards we can see there is an increase on number ofNFT transactions on Solport than before.

Based on the above graph, we can see how many unique users purchased both Magic Eden and Solport. From this, the Magic Eden v2 has had more than 97% of all unique purchasers. So far, the Solport has only received 958 unique wallets.

In order to determine the daily number of wallets which are used by Solport and Magic Eden since March 12th, 2022, we look at this figure. There are not that many unique wallets on Solport at first, but as time passes, we will be able to see an increasing number of wallets in Solport than we have seen before. 

Based on the data below, you can see how many unique wallets Solport and Magic Eden have used each day since March 12th, 2022. In the beginning, it is clear that 100% of unique wallets are from the Magic Eden marketplace. The Solport NFT marketplace will be involving unique wallets starting on March 22, 2022.

The NFT Collection ‘Taiyo Robotics’ on MagicEden and Solport

In addition to being strongly related to the NFT collection Taiyo Robotics, Solport also encourages users to increase their adoption of Solport. The Solana blockchain shows Taiyo Robotics has manufactured 2,121 robots. Designed to protect the earth from the giant monsters that has plagued it, these forces have been created.

The graph below shows the volume of sales and the number of unique wallets on Magic Eden and Solport marketplaces since March 12,2022. We can see from March 22,2022 onwards an increase in sales volume of Solport and from March 28,2022 onwards a decreasing trend for sales volume on Magic Eden marketplaces for this collection.

In the chart below, we can see the unique wallet for Taiyo Robotics on MagicEden and Solport. On Solport, we can see since March 22,2022 a growing number of unique wallets, before we were able to see only those belonging to the MagicEden marketplace.

In both marketplaces, the Taiyo Robotics collection shows an increasing trend in terms of maximum sale amount. Here and also we can see the maximum sale price of this collection NFTs on Magic Eden is more than 200 and on Solport is 155.

From the below graph we can see the average sales volume fro Taiyo Robotics collection On Magic Eden and Solport since March 12,2022.

Onbservations

As a result of the analysis above,

  • From the beginning on March 12th, compare the NFT sales volume on Solport to Magic Eden’s sales volume, and also compare the unique wallet growth on both the marketplaces, we can see that there is no sales volume on Solport in the beginning, but from March 22, 2022 onward we can observe an increase in both sales volume and unique wallets on Solport. 
  • Based on the above analysis, we can see how many unique users purchased both Magic Eden and Solport. From this, the Magic Eden v2 has had more than 97% of all unique purchasers. So far, the Solport has only received 958 unique wallets.
  • When we look at the Taiyo Robotics NFT collection on both marketplaces initially there was no sale volume or unique wallets on Solport where we could only see the Magic Eden Sale Volume and Unique wallets. Moreover, it appears that from March 22nd, 2022 onwards, we will see an increase in the number of wallets and the sales volume on Solport than in the past. Hope fro the best and in the future, we will be able to observe an increasing number of unique wallets and also a greater volume of sales on Solport than previously.
  • Similarly, we can also say that sellers are more concerned with growing their own marketplace or capitalizing on access to liquidity. As a result, Liquidity represents the health of a particular business module. I would assume sellers are more interested in increasing their own liquidity in order to grow their own marketplace.

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