Nansen adds support for Solana NFTs

GM Nansen explorers!

Nansen is thrilled to announce NFT support for Solana! 

Solana has been one of the most requested chains and has a thriving NFT ecosystem. Our Solana NFT analytics dashboards cover over 53,000 collections, utilizing real-time, on-chain data. Data points such as minting activity for new projects, who’s buying/selling, hodler activity are just some of the key features that we offer. By relying on real-time, on-chain data we are able to give you the most accurate data as quickly as possible. The quality of data and breadth of coverage will enable you to discover opportunities, perform due diligence and make strategic decisions when investing in Solana-based NFT projects. 

Like on Ethereum, many of the dashboards are available for FREE for our Nansen Lite subscribers. We’ll be briefly going through the dashboards included in this release in the rest of the article. 

NFT paradise

Think of NFT paradise as the CoinGecko for NFTs where you can get an overview of what’s happening in the market in the last 24 hours. As mentioned in the introduction, we offer coverage of over 53,000 collections and leverage on real-time, on-chain data to give you the most updated information possible. There’s 2 main tabs for NFT paradise: Market Overview and Mint Master.

Market Overview

The first dashboard you’ll come across is “24H NFT Market Overview,” which allows you to get a good overview of which collections are popular based on trading volume, market capitalization of the collection, the average price of the NFTs, number of wallets that interacted with the NFT contract and how old the NFT collection is. The second dashboard is the “Top 5 Collections” dashboard, which shows you the trading volume of the top 5 NFT collections over the last 24 hours.

At the bottom of the page we have the “Profit Leaderboard” dashboard, which showcases the performance of the top NFT traders on the network. We give you a breakdown of their performance on the dashboard and you can do deep dives on their trades and wallets via our NFT Wallet Profiler tool.

Mint Master

Mint master helps surface the signal for new NFT drops and is available for our standard tier subscribers. By relying on data at the contract level, we are able to have maximum coverage as early as possible, unlike any other platform out there. In crypto it literally pays to be early and this dashboard gives you the opportunity to be early to popular projects that people are excited about.  We highlight the mint volume and FOMO level of the NFT to allow you to uncover the most hyped drops in the space. 

Similar to the profit leaderboard in the “Market Overview” tab, Mint Master comes with its very own Minting Leaderboard. The dashboard showcases the wallets that have made the most profit from minting and how much they have spent on minting. This allows you to know which wallets are at the top of the game and you can keep track of their wallets on Nansen to see what new projects they’re minting. 

NFT God Mode

DeGods NFT God Mode Overview Dashboard

NFT God Mode offers collection level data for all 53,000 collections we cover and the “Overview'' tab is also available for our Nansen Lite subscribers. The “Breakdown”, “Hodlers”, “Trades” and “Related Collections” tab are available for our standard subscription users. Each tab focuses on showcasing various important data points such as changes in wallet balances, seniority distribution, hodler activity and popular collections among holders of the NFT. Below are some of the various dashboards that we have across the different tabs. 

DeGods NFT God Mode Breakdown Dashboard

DeGods NFT God Mode Hodlers Dashboard

DeGods NFT God Mode Related Collections Dashboard

Interested in checking out some of the dashboards mentioned? Sign up for a Nansen Lite account today!

NFT Wallet Profiler

NFT wallet profiler is the dashboard to do deep dives on any wallet that interests you. The dashboard shows a summary of the current value of the NFTs in the wallet, what NFTs the wallet is holding, a breakdown of the profit and loss when it comes to NFTs and historical transactions. 

In this example, we take a look at the wallet profiler for the wallet that’s ranked third on our profit leaderboard. With just ~560 SOL spent, the person was able to make over 2.34K SOL in profit, a good 419% ROI. We see that almost all of the gains came from a single collection, DeGods. Another interesting point is that the wallet has been relatively inactive when it comes to trading in recent times, with only 2 transactions in the last 56 hours. Although hugely profitable, the inactivity coupled with the majority of the profit being tied to a single collection suggests that it might not be a wallet you want to keep an eye on.

Market Trends

Ever wanted an overview of how the Solana NFT market is doing? The market trends dashboard has got you covered. This dashboard allows you to get a sense of how the market is performing and the level of user activity and interest. Year to date, Solana NFTs have had a total of 19.7M SOL in trading volume across 910K unique wallets. Minting volume is about 3.69M SOL YTD, accounting for 18.7% of the total volume transacted.

Note: AuctionHouseOthers are marketplaces that use the “common auction house” contract that we have yet to tag individually. Examples of such marketplaces are Fractal and CoralCube.

Users and transactions per week peaked during the week of 13 June 2022 with over 77K users minting ~520K NFTs and over 124K users making ~394K trades across the various marketplaces. We typically see activity peak during 17:00 - 19:00 hours UTC timing daily, suggesting that this is the time period with the highest liquidity in the market. 

Solana NFT projects with +10, +100, +1000 sales per week have experienced massive growth over time, increasing from 1,293, 377 and 59 projects respectively at the start of the year to 2,460, 723 and 166  projects currently.  More recently, we see that projects with more than 1k of weekly contract activity are picking up in demand quicker than the other categories. This potentially indicates that the NFT sales activity on Solana is concentrating on more established projects. 

NFT Item Profiler

NFT item profiler gives you an overview of the transaction history for the NFT and the trades over time. This allows you to do individual NFT level analysis and deep dives. This dashboard is available to our standard tier subscribers!

Conclusion

The Solana NFT ecosystem is a growing one and definitely one that we will be keeping an eye on. It’s often difficult to separate hype from quality in the NFT space and on-chain analytics can help surface the signal from the noise. Sign up for a Nansen Lite account and start exploring today!