Every month, we will be observing market, chain and social data from different NFT projects.
To view the actual data + commentary on why I think different projects are showing certain numbers, subscribe to Zima Red.
Wallets - Wallets refers to the number of Ethereum wallets that hold an asset of a specific project. You can think of wallets as a rough gauge for number of users.
Avg Price Ether - Average Price Ether means the average price of an NFT asset in ETH terms.
Average Price USD - Average Price USD means the average price of an NFT asset in US Dollar terms.
Txs (7day) - Transactions the past 7 days - Transactions that happened on the blockchain within the past 7 days.
Vol USD (7day) - Transaction volume in USD the past 7 days - Total volume measured in US dollars for the past 7 days.
Followers - Total number of followers for a projects Twitter account.
Tweets - Total tweets from a projects Twitter account.
Discord Members - The number of users in a projects Discord channel
Chain TXs - Onchain transactions - Total number of transactions that happened on the blockchain, for a specific project.
There might be perceived weakness in some of Gods Unchained numbers (like avg USD falling 66%) but in my opinion, we are seeing Gods Unchained activity normalize since their crazy November 2019 launch, where volumes were unsustainable (much like most NFT projects after they first launch). Despite declining market figures, on-chain transactions show a healthy and thriving market activity.
Decentraland showed a respectable 2% wallet growth but a very large increase in market activity. Average price increased by a whopping 19% along with a 139% increase in 7 day USD volume. These large increases in market activity are probably attributable Decentralands announcement of their Feb 20, 2020 launch.
My Crypto Heroes
My Crypto Heroes is a big standout in terms of the number of Twitter followers. I am not sure why it increased by that degree, but I do want to note I track the Twitter numbers for the English language My Crypto Heroes Twitter and do not track the Japanese language one. Other than the Twitter, My Crypto Heroes is showing stable growth in the other categories.
Being the best known NFT project it is surprising that CryptoKitties still is able to put up respectable numbers. A near 1% growth in wallets when the number of wallets is +80k is great (No other project comes close to CryptoKitties number of wallets). The most astonishing numbers are related to market activity. 7 day transactions showing 36% growth and 7 day volume showing 52% growth. This shows that there is still very healthy secondary market activity.
The past month has been great for SuperRare. Up on all metrics except for 7 day transactions. Wallet growth at a respectable 6.64% and market activity reflecting increased activity. The true area where SuperRare shines is social metrics. Double-digit growth across their twitter and telegram channels. Art is inherently a social market so this is a great indicator of SuperRare’s fast-growing popularity.
Cryptovoxels was the strongest project this month showing great strength in market activity, social and on-chain metrics. The data suggests Cryptovoxels went through a period of rapid growth for the month of January. Another interesting finding, which is mostly speculation, is the wallet growth of both SuperRare and Cryptovoxels being quite close together (~6% and ~7% respectively). Many in the NFT art scene will know that Cryptovoxels is the destinations for artists and creatives showing off their work so we will have to closely watch the stats from both SuperRare and Cryptovoxels to see if a correlation continues or if this was simply coincidence.
Crypto Space Commanders
Crypto Space Commanders showed solid growth with wallets increasing 6% and avg price USD increasing 220%. That 220% figure by itself looks incredible but when we take into account the avg price ETH having an increase of 0% it diminishes the strength of the avg price USD because the majority of NFTs are priced in ETH terms. Regardless, the 7 day volume was very strong with a 133% increase which indicates healthy market activity. I did not collect etherscan chain data from Crypto Space Commanders because they use so many different wallets that it would be a hassle to collect and distill the info (aka, I am lazy).
Axie Infinity showed a crazy 12% increase in the number of wallets which was by far the largest increase out of the projects covered in this newsletter. Oddly enough the market activity seemed rather muted despite the large increase in wallets. This could be because Ethereum is up ~23% this month and people choose to focus on playing Axies versus buying more Axies at these perceived higher prices.
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