Since the beginning of July, Art Blocks’ number of sales have increased dramatically. Given the enormous amount of artists and projects going on at the moments, NTF investors are often overwhelmed by all the information available and find it difficult to get hold of the hottest projects. This dashboard will help you look for the hottest top selling collections and artists from Art Blocks since November 2020. Credits to Flipside Crypto for providing the data for this analysis.
(Original figures can be found here: https://app.flipsidecrypto.com/velocity/dashboard/art-blocks-overview-BY1Ryi)
Overview of tokens minted and sold
The total number of tokens being minted and sold in July and August have more than tripled the previous monthly numbers. So is it the case that the more tokens minted, the more will get sold? Not really if you look at the mint-sale ratio. From November 2020 to January 2021, the amount of tokens minted and sold are almost the same. Since then all the months till August we see more tokens being sold than being minted, except for May 2021.
More interestingly, there are fewer tokens minted in August (17k) than in July (23k) but more sales in August (54k) than July (47k). The mint-sale ratio dropped significantly to 0.3 in August while the median sale price rocketed to more than 2000 USD compared to less than 300 USD in all previous months.
(Note: median instead of average is used here to give a more robust measurement in order to avoid outliers distorting the average).
Hottest collections on Art Blocks
How do you decide which collection is the hottest? Not only do you need to look at the price of the sales, but also the volume in terms of number of sales. Because there could be a single outlier token that was sold at an extremely high price, but if no other tokens in the same collection can be sold, the collection is not popular.
Similarly, if a collection has been selling very well for one month (in terms of both volume and price), it doesn’t mean the next month or months it will also be selling well. That’s why it is also important to look at the historic price trend. It is also interesting to see the collections with longer history tend to have higher price as time goes.
The price has been increasing exponentially, so for easy comparison all prices are plotted in log scale.
When ranked by the top 10 by number of sales and total cumulative sales in USD, only the following 3 names remain in both. So the hottest collections are:
- Chromie Squiggle (by Snowfro)
- Ecumenopolis (by Joshua Bagley)
- Geometry Runners (by Rich Lord)
Hottest artists on Art Blocks
The same criteria are used here to see who are the hottest artists at the moment. There are 6 artists who are in the top 10 by both cumulative USD sales and total number of sales. You also see similar price history trends that the longer the artist has been selling, the higher the total number of sales and cumulative sales in USD, which makes sense.
- Snowfro (“Chromie Squiggle”)
- Rich Lord (“Geometry Runners”)
- Thomas lin Pedersen (“Rapture”)
- Mitchell f. Chan (“LeWitt Generator”)
- Loren Bednar (“phase”)
- Alexis André (“Obicera”)
Conclusion
Looking at both the hottest collections and hottest artists since November 2020 based on the selection criteria — number of sales and cumulative sales in USD, two artists and their collections appear on both lists:
- Chromie Squiggle by Snowfro
- Geometry Runners by Rich Lord
It’s not surprising to see these two collections ended up in the final hottest list. They have already gained a lot media attention given their recent surge in sale price. There is definitely more to come in the generative NFT art space!
