Dune-NFT Metrics (Study)
NFT projects are all the hype these days, so I thought I would start there.
Maybe if I understand which metrics are important to some blue chip NFT projects I can start digging into some less popular ones for my practice.
I went through 3 of the more popular NFT dashboards on Dune (CP,BYAC, and PP) and catalogued each metric they were reporting. After that, I went through and tried to categorize the questions into common subjects or themes.
These are the common themes and some of the related metrics that were addressed.
Ownership- A common thread across each dashboard was the subject of ownership. How many unique addresses had ever owned, or own currently? What single addresses own the largest quantity? I got the general impression that the largest question around this subject was how decentralized is ownership?
Trading volume over time-Another common metric was related to the trading volume over time. What is the volume (ETH/USD) traded over time (hour,day,month)? Also, what are the quantity of bids over the past day/week/month? I also saw, quantity of sales per day. These circle around the question, is there still current demand for the project, or are people no longer interested in trading?
Price-Dollar dollar bills ya’ll. Not surprised here. What is the floor price or minimum ask price over a period of time? What are the most expensive items by sale price in the collection? I even saw a profitability calculation in one dashboards which seemed unique and challenging. What about total cumulative ETH spent over time? These metrics are looking to answer two different questions. At what price can I acquire one of these NFT’s today, and at what price might I be able to fetch for one in the future(good luck guessing this)?
My next step will be to study some of the queries developed around these metrics and see how much variation there is in the query design.
Do they use the same tables and fields? Where can the contract addresses and specific functions be acquired from?
After studying the query structure, I will attempt to apply the techniques to a newer project, and see what I can build.
I’m really starting to geek out over this.
