Compare Quix With Magic Eden and OpenSea

Aim : Create a dashboard highlighting at least 3 metrics comparing marketplace performance and adoption between Quix (formerly Quixotic) on Optimism, Magic Eden on Solana, and OpenSea on Ethereum, since July of this year.

What has been the rate of change of these metrics since the start of the new year and are there any signs of growth of a certain marketplace or ecosystem of NFTs?
Highlight the 5 most popular NFT collections for each marketplace over that timeframe in terms of sales volume.
Is the turnover rate (number of transactions) for collections on Quix noticeably higher than on OpenSea and Magic Eden?

Quix

The Quix platform is the largest NFT marketplace on the Optimism platform, which is an Ethereum layer 2 scaling solution. Optimism is a layer 2 scaling solution for Ethereum. Using it on Ethereum reduces transaction fees and transaction times. It is possible to do transactions with an average transaction fee of 0.0001 Ethereum ($0.15).

According to the tweet below, Quix will return 1% of the cost of their NFT purchase to the buyer as $OP rewards and holders of ANY OP OG NFT will receive a 2% $OP reward.

Anyone who buys an NFT on Quix will receive 1% of their purchase back in $OP rewards and holders of ANY OP OG NFT will receive a 2% $OP reward.

Happy trading and stay OPtimistic! 🔴_🔴
— Quix 🔴✨ – Optimism NFT Marketplace (@qx_app) September 27, 2022

MagicEden

In addition to GIFs, mp4s, and images of all sizes, Magic Eden supports artwork made of GIFs, mp4s, and static images. 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.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.

Approach

The dashboard compares the performance and adoption of Quix (formerly Quixotic) on Optimism, Magic Eden on Solana, and OpenSea on Ethereum since July of this year by examining the metrics for sales volume, trades of NFTs, buyers, and sales transactions across these three marketplaces as follows,

Listed here are the daily sales volume and their percentages of sales volume by marketplace
The following is an analysis of their traded NFTs on a daily basis
Also, the number of buyers comes from all three marketplaces
How the sales transactions work across all 3 marketplaces
Look at the top 5 most popular NFT collections sales volume for each marketplace
Here is a comparison of sales transactions for collections on Quix and OpenSea and Magic Eden

Analyze The Sale Metrics Of QUIX, Magic Eden And Opensea

From the below graphs, we can see the sales volume on all marketplaces since July 1st 2022. In the period from July 1, 2022 to September 28, 2022, all 3 marketplaces recorded a total sale volume of $1.64B. Among the 3 platforms, OpenSea contributes the most (81.84%) to the total sale volume. (Quix) has the lowest total sale volume of $2.13M, while (OpenSea) has the highest total sale volume of $1.34B. A maximum sale volume of $53.48M was observed on July 2, 2022, and a minimum sale volume of $445.87K was observed on September 28, 2022.

We can see that Quix’s sales volume is increasing when compared to its initial days in this analyiss.The Magic Eden sale volume is higher during the 1st week of July 2022, but later we see a downward trend.. We can see again from Sept 2nd week onwards that this Magic Eden marketplace is showing an increasing trend in the sales volume.

More than 80% of sales volume has been generated by Opensea Marketplace since July 1st 2022. As we can see from the Quix marketplace, there is not much sales volume.

Here from the below graph we can see the number of traded NFTs by different marketplaces(Quix, Magic Eden and Opensea) since July 1st 2022. Here we can see an increasing trend of traded NFTs on all markets . The Platform Magic Eden makes up the largest portion of the traded NFTs (79.91%) between the three Platforms. In the total number of NFTs traded, Quix had the lowest total with 4.5K and Magic Eden had the highest with 5.22M NFTs traded. September 7 recorded the highest number of traded NFTs at 175.62K. NFTs traded between September 28, 2022 and September 9, 2022 were lower than normal, while NFTs traded between September 7, 2022 and September 28, 2022 were higher than normal. There is a steady percentage of traded NFTs on OpenSea.

Almost 80% of all traded NFTs have been generated by Magic Eden Marketplace since July 1st 2022. It is clear from the Quix marketplace that there is not much trading of NFTs. We can see a sudden spike of NFTs traded on Sept 7, 2022 recorded as the highest traded NFTs across all marketplaces.

A total of 3.38 million people bought between July 1, 2022 and September 28, 2022. There are three platforms where buyers come from, with Platform OpenSea contributing the most (59.52%) to the total. OpenSea has the highest total Buyers , while Quix has the lowest total Buyers with . September 7, 2022, had the highest number of buyers of 50.48K. The number of buyers on September 7, 2022 is higher than usual. In the past week, the number of buyers on Quix marketplace has increased.

In this graph, we can see that nearly 60% of Buyers come from Opensea compared to the other 3 platforms. In the period between July 1st and July 31st 2022, only 1.2% of buyers were through Quix.

According to this graph, Quix has the lowest average Sale Transactions and Magic Eden has the highest average Sale Transactions. It was observed that W36, 2022 had the highest number of sale transactions, and that W26, 2022 had the lowest number of sale transactions. Comparing the initial period of analysis with the current period shows an increasing trend in sale transactions by Quix.

We can see an increasing trend of sales transactions by Magic Eden and Quix. Opensea’s overall sale transactions decreased from the initial days when compared with the current days. There might be a reason for this, given the volatile state of the crypto market.

Top 5 most popular NFT collections Sales Volume for each marketplace

As you can see in the following graph, the top most 5 NFT collections sales volumes can be taken based upon their market share. In terms of sales volume, the lowest is $99.91K (Mirror WNFT – Optimism Collective: Hello World), which is a Top1 Collections sale volume on Quix. As for the highest total sales volume, it is $62.58M (Bored Ape Yacht Club), which is also a top collection sales volume on the Opensea platform.

Compared with Quix marketplace, Opensea has almost 4 times more sales transactions by top5 most NFT collections. Additionally, Magic Eden’s top 5 NFTs sales transactions are almost twice as high as Quix’s top 5 NFT sales transactions.

The total sales volume of Quix’s top 5 NFT collections is $1.34 million. Of the five collections, Early Optimists accounts for the highest share (56.31%) of total Sales Volume. Mirror WNFT – Optimism Collective: Hello World has the lowest total sales volume of $99.91K, while Early Optimists has the highest total sales volume of $754.02.

The total sales volume of Magic Eden top 5 NFT collections is $54.69M. Of the five collections, DegenTown accounts for the highest share (31.5%) of total Sales Volume. Primates has the lowest total sales volume of $6.29M, while DegenTown has the highest total sales volume of $17.25M.

The total sales volume of Opensea top 5 NFT collections is $238.74M. Of the five collections, Bored Ape Yacht Club accounts for the highest share (26.21%) of total Sales Volume. Art Blocks has the lowest total sales volume, while Bored Ape Yacht Club has the highest total sales volume .

Compare Sales Transactions For collections on Quix with OpenSea and Magic Eden

In the following graph, we can see the most popular top 5 NFT collections and their sales transactions by marketwise. The total number of sales transactions is $278.97K. Out of the 3 platforms, Platform OpenSea contributes the most to total Sales Transactions (61.43%). Based on sales transactions by market on top5 NFTs , Quix has the lowest total sales transaction amount (36.77K) while OpenSea has the highest total sales transaction amount (171.37K). When we look at the top 5 NFTs collection wise on all 3 marketplaces, the lowest total Sales Transactions is $443 (Bored Ape Yacht Club) and the highest total Sales Transactions is $140.97K (ENS).

This is a list of the top 5 most popular NFT collections sales transactions on Quix Marketplace. OP Orcas has the lowest number of Sales Transactions: $488. Optimistic Explorer has the highest number of Sales Transactions: $22.29K.

This is a list of the top 5 most popular NFT collections sales transactions on Opensea Marketplace. Bored Ape Yacht Club has the lowest number of Sales Transactions: $443 . ENS has the highest number of Sales Transactions: $140.97K.

This is a list of the top 5 most popular NFT collections sales transactions on Magic Eden Marketplace. DeGods has the lowest number of Sales Transactions: $716 . ABC has the highest number of Sales Transactions: $42.45K.

Observations

Based on the above analysis, more than 80% of sales volume has been generated by Opensea Marketplace since July 1st 2022. Taking a look at the Quix marketplace, sales volume isn’t very high.
According to the above analysis, Quix’s sales volume is on the rise when compared to its initial days of this analysis period.
The Magic Eden Marketplace has generated almost 80% of all traded NFTs since July 1st 2022. According to the Quix marketplace, there is not much trading of NFTs. A sudden spike in NFTs was recorded on Sept 7, 2022, as the most traded NFT across all marketplaces.
OpenSea has the highest total number of Buyers, while Quix has the lowest total number of Buyers. The highest number of buyers was 50.48K on September 7, 2022. September 7, 2022, saw a higher number of buyers than usual. The number of buyers on Quix marketplace has increased over the past week( Sept 3rd week of 2022).
Compared to the other 3 platforms, Opensea has nearly 60% of the Buyers. There were only 1.2% of buyers through Quix between July 1st and July 31st 2022.
From the According to the analysis, Quix has the lowest average Sale Transactions, while Magic Eden has the highest average Sale Transactions. In comparison to the initial period of analysis, Quix’s sale transactions have increased.
There is an increasing trend of sales transactions by Magic Eden and Quix. Overall sales transactions for Opensea have decreased from the first days compared to now. There might be a reason for this, given the volatile state of the crypto market.
In terms of sales volume of Top 5 NFT Collections on all 3 marketplaces, the lowest is $99.91K (Mirror WNFT – Optimism Collective: Hello World), which is a Top1 Collections sale volume on Quix. As for the highest total sales volume, it is $62.58M (Bored Ape Yacht Club), which is also a top collection sales volume on the Opensea platform.
Compared with Quix marketplace, Opensea has almost 4 times more sales transactions by top5 most NFT collections. Additionally, Magic Eden’s top 5 NFTs sales transactions are almost twice as high as Quix’s top 5 NFT sales transactions.
As a result, Opensea and Magic Eden are the most popular marketplaces among users. However, Quix marketplace has recently grown in a positive manner. I wish it would continue to grow in the same way and look forward to seeing Quix NFT Marketplace grow in the future. Let’s hope for the best!

Reference Query

WITH sol_price as (
    select
      date_trunc('day', block_timestamp) as date,
      avg(swap_to_amount / swap_from_amount) as sol_price
    from
      solana.fact_swaps
    where
      swap_from_mint = 'So11111111111111111111111111111111111111112'
      and swap_to_mint = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v'
      and block_timestamp >= '2022-07-01'
      and swap_to_amount > 0
      and swap_from_amount > 0
    group by date
),
me_txns as (
  SELECT 
  	date, 
  	sales_amount * sol_price as sale_usd,
  	tx_id,
  	purchaser as buyer, 
  	SELLER, 
  	mint
  from solana.core.fact_nft_sales sales
  INNER JOIN sol_price on date_trunc(day, sales.block_timestamp) = sol_price.date
  WHERE succeeded = 'TRUE'
    and sales_amount > 0
    and block_timestamp >= '2022-07-01'
    and marketplace in ('magic eden v1', 'magic eden v2')
),
me_daily as (
  SELECT 
  	'Magic Eden' as platform,
  	date, 
  	sum(sale_usd) as sale_vol_usd,
  	count(tx_id) as sales_txns,
  	count(distinct buyer) as buyers,
  	count(distinct mint) as nfts_traded
  from me_txns
  GROUP BY date
),
opensea as (
  SELECT 
  	'OpenSea' as platform,
  	date_trunc ('day', block_timestamp) as date, 
  	sum(price_usd) as sale_vol_usd,
  	count(tx_hash) as sales_txns,
  	count(distinct buyer_address) as buyers,
  	count(distinct tokenid) as nfts_traded
  from ethereum.core.ez_nft_sales
  where event_type = 'sale'
  	and price_usd BETWEEN 1 AND 10 * 1E6
  	and block_timestamp >= '2022-07-01'
  	and platform_name = 'opensea'
  GROUP BY date
),
quixotic as (
  SELECT 
  	'Quix' as platform,
  	date_trunc ('day', block_timestamp) as date, 
  	sum(price_usd) as sale_vol_usd,
  	count(tx_hash) as sales_txns,
  	count(distinct buyer_address) as buyers,
  	count(distinct tokenid) as nfts_traded
  from optimism.core.ez_nft_sales
  where event_type = 'sale'
  	and price_usd BETWEEN 1 AND 10 * 1E6
  	and block_timestamp >= '2022-07-01'
  	and platform_name = 'quixotic'
  GROUP BY date
),
result as (
	SELECT * FROM opensea
  	UNION 
  	SELECT * FROM me_daily
  	--UNION 
  	-- SELECT * FROM quixotic
  	
)
SELECT * FROM result