Here in this article, we aim to look at a retrospective on the NFT market in 2022. In that process lets discuss about the following conditions,
- NFT project with the highest volume of trades in 2022?
- Which NFT project had the largest mint by dollar?
- Which NFT project decreased the most in value this year?
- Which NFT project gained the most value this year?
- What was the price of the highest-selling individual NFT?
- Which NFTs had the longest hold time this year?
- Which NFT project had the least amount of NFTs listed for sale on an exchange?
- Which project had the most NFTs listed for sale on an exchange?
Introduction
An NFT is a cryptographic asset on a blockchain with an unique identification code and metadata that makes it different from other tokens. The most common way to buy and sell non-fungible tokens is through NFT marketplaces. Magic Eden, OpenSea, Rarible, SuperRare, and Foundation are the most popular among them. In the blockchain world, non-fungible tokens, also known as non-fungible assets, represent a unique asset, whether it is digital or physical. Ethereum and Solana other tokens are used to trade NFTs on cryptocurrency blockchains. Their value is influenced by both the ups and downs of cryptocurrency prices, which has both positives and negatives. Using NFTs allows digital files to be secured while ensuring ownership and creating scarcity. An NFT can be sold, but the artist has the right to retain copyright, or they can offer it to the buyer, or they can determine a percentage of secondary sales. NFTs can represent almost anything digital, whether it is a jpg, a video. A blockchain allows buyers, sellers, and traders to buy, sell, and trade these files efficiently and reduces fraud.
Benefits : Using NFTs to make money is possible in many ways. Here are some key methods,
- In Play-to-Earn games, you earn assets or unlock features as you play. You can also sell them on a marketplace or in the game’s store.
- Collecting NFTs and hoarding them until they increase in value is popular.
- The best way to invest in new NFTs is to find projects you like and jump on them as soon as they’re listed. Participating in a Discord community often gets you on the ‘whitelist’.
- Any computer user can make an NFT, and even an NFT collection can support another project. Creating NFTs is free, but there are some restrictions.
Along with all these benefits from these NFTs, we can also look at how the NFT marketplaces were performing during the bear market in 2022. There was a lot of impact on both the crypto market and the NFT market during the crashes of Terra and FTX period. A dashboard like this allows you to assess which NFT projects top the market under all these conditions in 2022 year.
Approach
In this dashboard, we examine the NFT market in 2022 from a retrospective perspective. Our focus is mainly on the Top 10 NFTs in all cases and we also took into account collections with volumes greater than 1 million when calculating lost and gained prices. From these top 10 NFTs, a top one was selected as our analysis.
- Top 10 NFTs Trade Volume in 2022
- Top 10 NFTs – highest Selling NFT By Collection and Platform
- Top 10 NFTs That Had The Largest Mint Volume By Dollar
- Top 10 NFTs – Average, Maximum And Minimum Price Of Mints By Dollar
- Top 10 NFTs Which Are Lost In Value($) In 2022 Year
- Top 10 NFTs Which Are Lost In Value(%) In 2022 Year
- Top 10 NFTs Which Are Gain In Value($) In 2022 Year
- Top 10 NFTs Which Are Gain In Value(%) In 2022 Year
- Top 10 Least Amount of NFTs Listed For Sale On An Exchange
- Top 10 Most Amount of NFTs Listed For Sale On An Exchange
- Top 10 NFTs – The Longest Hold Time In 2022 Year
Insights And Visualization
Conclusion
- According to the above analysis, Terraforms will have the highest volume of trades in 2022 among NFT projects.
- Pixelmon, the project with the largest mint by dollar, was found in 2022 by the NFT project.
- Based on the top 10 NFT projects in 2022 that have lost the most in value, we can see Neo Tokyo has dropped the most in value.
- Additionally, when we look at the top 10 NFTS that are losing value(%) in 2022, we can see that Cyberbrokers are losing the most, which is 99.93%.
- Among the top 10 NFTs that gained the most in value in 2022, More Loot NFTs is the one that gained the most in value.
- According to the above analysis, when we analyze the top 10 NFTS which gained the most value (%) in 2022, More Loot gained the most.
- As well as when we look at the price of the highest-selling individual NFT in the year 2022, Meebits is the highest-selling NFT.
- NFT with the longest hold time in this year 2022 is Wolf Game V2.
- As we can see from the Top 10 least percentage of NFTs listed on an exchange, The Saudis Bound had the least percentage of NFTs listed on an exchange.
- The NFT project Genuine Undead had the highest percentage of NFTs listed for sale on an exchange based on the Top 10 most % of NFTs listed.
Reference Query
1.
WITH sales_1m as (
SELECT
INITCAP(project_name) as Collection,
nft_address,
sum(PRICE_USD) as sale_volume_2022_usd
FROM ethereum.core.ez_nft_sales sales
INNER JOIN ethereum.core.dim_labels lbls
ON sales.nft_address = lbls.address
WHERE event_type = 'sale'
and project_name is not null
and project_name not in ('uniswap', 'curve finance', 'ens' )
and PRICE_USD > 0
AND year(block_timestamp) = 2022
GROUP BY project_name, nft_address
HAVING sale_volume_2022_usd > 1 * 1e6
),
transfers as (
SELECT
Initcap(PROJECT_NAME) as project_name,
nft_address,
tokenid,
block_timestamp trf_ts,
lag(block_timestamp) over(partition by nft_address, tokenid order by block_timestamp) as last_trf_ts
FROM ethereum.core.ez_nft_transfers
WHERE nft_to_address != '0x0000000000000000000000000000000000000000'
AND year(block_timestamp) = 2022
and nft_address IN (SELECT nft_address from sales_1m)
and PROJECT_NAME IS NOT NULL
)
SELECT
PROJECT_NAME,
round(avg(datediff(day, last_trf_ts, trf_ts))) as avg_days_held
FROM transfers
WHERE last_trf_ts IS NOT NULL
GROUP BY project_name
ORDER BY avg_days_held DESC
LIMIT 10
2.
SELECT
INITCAP(project_name) as Project,
sum (mint_price_usd) as volume,
count(_LOG_ID) as mints,
median(mint_price_usd) as median_mint_price_usd,
max(mint_price_usd) as max_mint_price_usd,
min(mint_price_usd) as min_mint_price_usd
FROM ethereum.core.ez_nft_mints mints
INNER JOIN ethereum.core.dim_labels lbls
ON mints.nft_address = lbls.address
WHERE mint_price_usd > 0
and year(block_Timestamp) = 2022
and project_name is not null
and project_name not in ('uniswap', 'curve finance', 'ens' )
group by project_name
order by volume desc
LIMIT 10
-----------
3.
WITH sales_1m as (
SELECT
INITCAP(project_name) as Collection,
nft_address,
sum(PRICE_USD) as sale_volume_2022_usd
FROM ethereum.core.ez_nft_sales sales
INNER JOIN ethereum.core.dim_labels lbls
ON sales.nft_address = lbls.address
WHERE event_type = 'sale'
and project_name is not null
and project_name not in ('uniswap', 'curve finance', 'ens' )
and PRICE_USD > 0
AND year(block_timestamp) = 2022
GROUP BY project_name, nft_address
HAVING sale_volume_2022_usd > 1 * 1e6
),
mints AS (
SELECT
nft_address,
count(distinct tokenid) as minted_nfts
FROM ethereum.core.ez_nft_mints
INNER JOIN ethereum.core.dim_labels lbls
ON nft_address = address
WHERE project_name not in ('uniswap', 'curve finance', 'ens' )
and year(block_timestamp) = 2022
and nft_address in (SELECT nft_address FROM sales_1m )
GROUP BY nft_address, project_name
),
sales as (
SELECT
project_name,
nft_address,
count(distinct tokenid) as listed_nfts
FROM ethereum.core.ez_nft_sales
INNER JOIN mints USING (nft_address)
WHERE event_type = 'sale'
and PRICE_USD > 0
and year(block_timestamp) = 2022
GROUP BY nft_address, project_name
),
listing as (
SELECT
Initcap(project_name) collection,
nft_address,
minted_nfts,
listed_nfts,
listed_nfts / minted_nfts * 100 as list_ratio
FROM mints
INNER JOIN sales USING(nft_address)
WHERE minted_nfts > listed_nfts
),
least as (
SELECT 'Least Listed For Sales', * FROM listing
ORDER BY list_ratio ASC
LIMIT 10
),
most as (
SELECT 'Most Listed For Sales', * FROM listing
ORDER BY list_ratio DESC
LIMIT 10
)
SELECT * FROM least
UNION
SELECT * FROM most