Partnered With:

Nansen now supports users to view data related to Treasure in the Arbitrum ecological NFT market

Read this article in 15 Minutes

Help users spot opportunities, conduct research, and make strategic decisions when investing in Arbitrum-based NFT projects.

Original title: "Nansen's Coverage of NFTs on Arbitrum One: A Deep Dive"

Original source: Nansen

On April 6th, Nansen announced that it has covered the Arbitrum ecological NFT Market Treasure. Sign up now with Nansen to get free access to NFT market trends and overviews on Arbitrum. Official users of Nansen also have the additional functionality of Mint Master and the ability to drill down into individual projects and wallets with NFT God Mode, NFT Wallet Analyzer, and NFT Item Analyzer. This enables users to identify opportunities, conduct research, and make strategic decisions when investing in Arbitrum-based NFT projects.

According to the data of Nansen’s new Treasure NFT market:

1. and 2021 Arbitrum will see an increase in both the volume of transactions processed and the number of completed deals in the first quarter of 2022 compared to the fourth quarter. Year-to-date, we have witnessed a 205% increase in Arbitrum Network NFT users.

2. The growth of new and existing users is still erratic on Arbitrum One.

3. Since the beginning of this year, projects that can sell more than 10 and more than 1,000 NFTs a week have all seen growth on Arbitrum.

4. Currently, 4.5% of wallets have achieved at least 100% return on investment in their Arbitrum-based NFTs, and the top 20 wallets have all More than 10000%. This was achieved in large part through Treasure’s free minting model, which launched the popular Smol Brains and Legions series of NFTs.

Due to the benefits of low transaction fees, more and more users are switching to the Arbitrum network, allowing the protocol to lock up over $4 billion in TVL, which does not Not surprisingly. Among Arbitrum's many developments, Treasure has become its largest NFT marketplace denominated in Treasure's native token MAGIC. To understand how Nansen supports data coverage for this community, we conducted an informal group meeting with several Arbitrum One users. The following is an excerpt from the conference presentation:

“Arbitrum’s network fees are low. It allows users to do more with less. For example, it allows you Play on-chain games, like on ETH. You need to pay about $80 to do a transaction. On Arbitrum, you only pay less than $1 in fees, and you are guaranteed to make money most of the time. It Allowing creators to make games that require interaction and continuity, while making it affordable for people to play”

----Arbitrum user Astrololo

Furthermore, Treasure's free casting model and organic community growth has been one of its key strengths. According to Travis, an Arbitrum user, “A solid Arbitrum community is at the core of all successful projects. As seen in recent events, they are able to withstand changes in market performance, as well as any external attacks/sabotage of the project.”

“What sets us apart is that everything in the Treasure market feeds off of each other. It’s all priced in MAGIC and each collection is Being part of a larger whole, with their own games, adds to the network effect of the ecosystem.”

----Arbitrum user sisu

"Nansen can help participants on Treasure/Arbitrum not only bring the same functionality and utility as on L1, but also collect intelligent data about various NFT series on Treasure, possibly creating tools to help with data visualization".

----Arbitrum User Arcanic

Using feedback from several Arbitrum users, Nansen now provides users with a real-time panel.

1. Compared with Q4 in 2021, the number of transactions processed and completed by Arbitrum in Q1 2022 has increased.

The first week of March saw a sharp drop in transaction volume and number of transactions; this may have been affected by a breach on Treasure, which instructed users to cancel pending orders for NFTs following the breach. Again, this trend is reflected in the secondary sales market in the Treasure Market.

Two. We see an increase in the number of users transacting on Arbitrum One. Year-to-date, we have witnessed a 205% growth in Arbitrum NFT users.

Year to date, Arbitrum One has processed 75.9k ETH. Additionally, 193,000 unique wallets conducted NFT-related transactions on Arbitrum One. Of the transaction volume processed and unique wallet transactions, Treasure accounted for 73.5 thousand ETH in transaction volume, accounting for 96.8% of Arbitrum One's total transaction volume.

3. The growth of new users and old users is still unstable on Arbitrum

The reason for this phenomenon may be that the NFT transaction on Arbitrum is still in the Early growth stage, so there is more volatility in returning users and new users. However, when comparing the daily buyers on the Treasure NFT marketplace, we can see a clear increase in buyers returning to Treasure.

4. Since the beginning of this year, projects that can sell more than 10 and 1,000 NFTs a week have all seen growth on Arbitrum.

While NFT projects with more than 1,000 weekly sales experienced more pronounced growth, projects with 10 or more sales had a less volatile growth trajectory. This could mean small projects or peer- or community-driven projects that continue gradually within the Arbitrum and Treasure ecosystems.

5. "SoTiny" has the most impressive NFT-related profit on Arbitrum: 610 ETH

< p>

< /p>

Using information obtained from our profit leaderboard, we analyzed a sample of 665 wallets transacting on the Arbitrum network. Out of 665 wallets, 389 wallets are in profit, with an average profit of 28.4 ETH. The remaining 276 wallets were at a loss, with an average loss of 28.1 ETH.

In addition, approximately 4.5% of wallets (30 out of 665) achieved at least a 100% return on investment. When analyzing profit as a percentage of initial spend, we find that the average profit is around 21.3%, with a maximum profit return of 1797% for one wallet. The most notable loss is around -1%. Perhaps, the free Mint minting model is a big factor behind this gain.

6. The top 5 NFT collections sold on Treasure include Smol Brains, Legions, Seed of Life, Tales of Elleria, and Realm.

For users new to Arbitrum's NFT ecosystem, NFT Paradise's market overview provides details on notable NFT collections traded on Arbitrum. In addition, Legions and Smol Brains, some of the most expensive NFT series on Arbitrum, also lead in transaction volume.

Using the unique insight provided by Nansen's NFT God Mode, we were able to zoom in on this noteworthy collection. For example, we can see that the average price of Smol Brains has been trending downward. However, it appears that the sales price of Smol Brains has converged to a more stable range (i.e. less volatile sales price). Additionally, Nansen's NFT God Mode enables users to conduct in-depth research on items of interest, such as understanding the price behavior of Arbitrum NFT collectibles, how smart money interacts with collectibles, and the growth of unique holders of that particular collectible.

Enter the contract address of any Treasure NFT into the NFT God mode to get a comprehensive view of top holders, unique addresses, and various key metrics.

Furthermore, when combined with the broader Arbitrum coverage Nansen offers, users can now dig deeper into related tokens, such as the smart money transactions that underpin Treasure’s MAGIC.

Summary

While OpenSea may have the vast majority of the NFT market, NFTs are also growing in popularity. With that comes a need for what other protocols can offer. Nansen’s on-chain insights point to Arbitrum’s growing adoption of NFTs through the Treasure marketplace. We believe Arbitrum and Treasure's coverage will allow users to identify opportunities, conduct research, and make strategic decisions when investing in Arbitrum-based NFT projects.