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NFTs in 2022

Kavitha Kavitha
Source : Image

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,

  1. NFT project with the highest volume of trades in 2022?
  2. Which NFT project had the largest mint by dollar?
  3. Which NFT project decreased the most in value this year?
  4. Which NFT project gained the most value this year?
  5. What was the price of the highest-selling individual NFT?
  6. Which NFTs had the longest hold time this year?
  7. Which NFT project had the least amount of NFTs listed for sale on an exchange?
  8. 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,

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.

Insights And Visualization

Conclusion

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
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