After Launching OpenSea on Solana 

OpenSea Launched

The goal of this article is to compare OpenSea’s Solana NFT sales volume with that of Magic Eden’s since Solana launched. OpenSea versus Magic Eden: how many unique buyers have bought a SOL NFT since 4/6. 

MagicEden

Magic Eden is the most popular marketplace on Solana, receiving a good number of visitors who are interested in listing their NFTs on the platform. In addition to GIFs, mp4s, and images of all sizes, Magic Eden supports artwork made of GIFs, mp4s, and static images. The Magic Eden Platform is a new NFT platform built for the Solana Network that enables transactions involving NFTs, its buying, selling, and minting. Unlike the current system, NFT transactions will have a 0% listing fee and only a 2% transaction fee, which lowers entry barriers for both new and experienced buyers and sellers. The fee is paid with the SOL tokens.

OpenSea

OpenSea, the eBay of crypto world, is a decentralized peer to peer marketplace for selling & buying Non Fungible Tokens(NFTs) across various categories like art, music, digital goods for games, decentralized domain names, collectibles, etc. It is the go-to platform for the most popular NFT projects like Cryptopunks, Axie Infinity, CryptoKitties, etc. It has more than 200 categories and boasts as the biggest marketplace for NFTs.

A popular NFT marketplace, OpenSea, has integrated Solana’s (SOL) NFTs. OpenSea launched its SOL compatibility on 4/6 – giving the SOL NFT landscape access to the largest source of NFT liquidity. From below given tweet we can see that.

We are comparing users who have bought an Opensea SOL NFT since April 6th, 2022, and Magic Eden SOL NFT since April 6th, 2022. That means after the launch of OpenSea (for solana NFTs) .

On the graphs below we can see how Opensea SOL NFTs users compare to Magic Eden SOL NFTs users after Opensea SOL NFTs were launched on Solana. Graphs below show that over 97% of users who bought since April 6th,2022, are from Magic Eden SOL NFT. 

Taking into account both Opensea and Magic Eden SOL NFTs, we can see a daily percentage view between them since April 6th,2022. Compared to the other days, the second day of the launch of SOL NFT on OpenSea was more successful. Therefore, the number of users of Opensea SOL NFT who purchased initially is greater .

On the graphs below we can see how Opensea SOL NFTs Sales Volume compare to Magic Eden SOL NFTs Sales Volume after Opensea SOL NFTs were launched on Solana. Graphs below show that over 97% of Sales Volume is comes from the Magic Eden SOL NFT since April 6th,2022. 

Taking into account both Opensea and Magic Eden SOL NFTs Sales Volume , we can see a daily percentage view between them since April 6th,2022. Initially we cans ee good amount of sales volume is increased on Opensea SOL NFTs later it is tending into decreasing order . Therefore, the Sales Volume of Opensea SOL NFTs is initially greater .

On the graphs below we can see how Opensea SOL NFTs Sales transactions compare to Magic Eden SOL NFTs Sales Transactions after Opensea SOL NFTs were launched on Solana. Graphs below show that over 96% of Sales Transactions are contributed by the Magic Eden SOL NFT since April 6th,2022. 

Taking into account both Opensea and Magic Eden SOL NFTs Sales Transactions , we can see a daily percentage view between them since April 6th,2022. Initially we can see good amount of sales transactions is increased on Opensea SOL NFTs later it is tending into decreasing order . Therefore, the Sales transactions of Opensea SOL NFTs is initially greater .

According to the above analysis, the number of users who purchased the Open Sea SOL NFTs on Solana is less than the number of users who purchased the Magic Eden SOL NFTs. A total of 2.6% of the Open Sea SOL NFT sales volume is composed of the Open Sea SOL NFTs. Additionally, we can see that the users and sales volume for Open Sea SOL NFTs are higher in early days of launch. 

Leave a Reply