An Analysis Of The Purchases Of NFTs By Solana

This report is based on the distribution of Solana NFT sales on Solana. How many sales were above 1 SOL? More than 10 SOL? How many unique wallets have made NFT purchases exceeding 10 SOL in total? More than 100 SOL? Would you say that NFT collection on Solana can reach a higher floor than that on Ethereum?

We have different NFT marketplaces in Solana. Forexample, Solport and MagicEden are more popular NFT marketplaces .Here lets discuss a small introduction about them .

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.

Solport

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. 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.

The purpose of this article is to discuss mainly the distribution of Solana NFT sales on Solana. Taking a distribution of different NFT sales categories, I can see the number of transactions which are made by NFT purchasers as well as sales above 1 SOL and above 10SOL. As we can see here, many NFT sales fall into the category of “less than 1 Sol Token”.  According to our statistics, NFT fell into the second highest sale category of “1-5 SOL Tokens”.  Over 90% of total NFT sales were accounted for by only the top 2 categories of NFT sales. This means that the above 10SOL NFT sales represent only 10% of the total of NFT sales on Solana. 

Here we can see the 90% of total NFT sales were accounted for by only the top 2 categories of NFT sales . That means these top 2 categories will come under the above 1 SOL NFT sales .

  • Hence finally we can say the percentage of sale transactions which are made by NFT purchasers as well as sales above 1 SOL is 90%.
  • And the percentage of sale transactions above 10 SOL NFT sales represent 10% of the total of NFT sales on Solana. 
      

Here from the below graph by Taking a distribution of different NFT sales categories, I can see the number of unique wallets have made a NFT purchase that was above 10 SOL and also the above 100 SOL. As we can see here, many unique wallets have made a purchase was fall into the category of “less than 1 Sol Token”.  According to our statistics, the second highest attracted sale of NFTs fall under the category of “1-5 SOL Tokens”.  Over 70% of total unique wallets  have made a NFT purchase were accounted for by only the top 2 categories of NFT sales. This means that the unique wallets which have made a NFT purchase above 10SOL represent close to 30% of the total of NFT sales on Solana. Wallets that purchased a NFT with a cost of more than 100SOL Solana made up 0.5% of all NFT purchases.

  • The unique wallets which have made a NFT purchase above 10SOL represent close to 30% of the total of NFT sales on Solana. Hence we can say 66.7K unique wallets have made a NFT purchase that was above 10 SOL.
  • Wallets that purchased a NFT with a cost of more than 100SOL Solana made up 0.5% of all NFT purchases. Hence we can say 3468 unique wallets have made a NFT purchase that was above 100 SOL.

From the below picture we can see the top NFTs listed on the Opensea NFT marketplace. Opensea is the largest NFT marketplace used by Ethereum. Below we can see the floor price of the top NFTs for the past 7 days. For example, if we look at the first collection, the floor price is 29.89 Ethereum Tokens, and the second collection, the floor price is 39.99 Ethereum Tokens.

From the below picture, we can see which are the Top NFTs available on MagicEden’s NFT marketplace. MagicEden is one of the most popular NFT marketplaces used by Solana. Below we can see the floor price of the top NFTs which are DeGods. For example, if we look at the top selling NFT on MagicEden, the floor price of DeGods is 315 Solana Tokens.

If we take the above two diagrams and compare them to the top NFT’s floor plan on different marketplaces, we can see that the floor price on Opensea’s NFT marketplace is 29.89 Ethereum Tokens. According to the Magic Eden NFT marketplace, the floor price of DeGods on MagicEden is 315 Solana Tokens. If we consider the current days into an account and according to the Ethereum Floor Price and Solana Floor Price, Ethereum Floor Price is approx. 86385 and Solana Floor Price is approx. 31767. As a result, we can say that the floor price of Solana is not compatible with Ethereum. In other words, there is no limit following the comparison between Solana’s floor price and Ethereum’s.

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