Data Interpretation: Does Okay Bear have a chance to beat Bored Ape?
Data Interpretation: Does Okay Bear have a chance to beat Bored Ape?
In the field of NFT, based onEtherBlockchain's NFTs have maintained their absolute leadership position. However, just within the past week, I fear that perception is about to change. It seems that people are finding that the dominance of ethereum NFTs seems to be eroding, and interestingly, one of the most notable ones is based on Solana (SOL) of the NFT series - "Calm Bear" Okay Bear.
"Calm Bear" is an NFT collection based on Solana. What's more, the dark horse NFT sold out in the first 24 hours of its launch, with 147,161 SOL traded, and the price rose by 19.48% in the last 24 hours afterwards. OpenSea In the three days since its launch, its floor price has soared from 1.5 SOL at the time of the public sale to 115 SOL, with a trading volume of 510,100 SOL. At the time of writing, the daily trading volume of "Calm Bear" is 1356 and the daily trading value is 6259.09 SOL.
If you don't have an idea of the numbers, we can make a simple comparison. In just one day, April 28, the newly launched VeeFriends V2 traded $13 million, Yuga Labs' Meebits traded $12 million, and the highly anticipated new project Imaginary Ones traded $10 million. This means that the little-known Solana project has beaten almost every Ether NFT project in a single day.
Such a hot deal reminds people of the "boring ape" BAYC, and one can't help but think - in the near future, who will be the ultimate winner of this "bear-ape war"? In the near future, who will be the ultimate winner of the "bear-ape war"?
Let's find the answer together
Since its launch in April 2021 until May 4, 2021, the total amount of transactions of BAYC "Bored Ape" is 960.197 ETHThis was followed by the launch of "Mutant Ape" MAYC on August 28, 2021, with a total of 1149 ETH and approximately 212 sales as of September 6, 2021. Immediately after, "Mutant Ape" MAYC was launched on August 28, 2021, with a total transaction volume of 1149 ETH and approximately 212 sales as of September 6, 2021.
If you look closely, you'll see that Okay Bears and Bored Ape bear a striking resemblance: the bored look in their eyes, the variety of skin and clothing, and even the shape of their mouths. Many people think that this might be a "monkey replica" on Solana, but with "bears" instead of "apes". However, by comparing the sales of "Bear" and "Ape", it is easy to see that "Calm Bear" is the most valuable series in the Solana-based NFT program, just like BAYC" and "MAYC" are the most valuable series of Solana-based NFT projects, just like "Bored Ape" and "Mutant Ape" are in Ether.
In addition, according to Dune Analytics, a statistical firm, Solana's daily trading volume on OpenSea increased significantly after April 25, 2022 (shown on the left), and right after the launch of Okay Bears, Solana-based NFTs on OpenSea also saw a significant increase in daily trading volume (shown on the right). NFT on OpenSea also saw a significant increase in daily trading volume just after the launch of Okay Bears (shown on the right).
In addition, the chart below shows the "Total number of transactions for all NFTs". It is easy to see from the graph that as of April 30, 2022, the total number of NFT transactions was 19,717, which is a decrease from April 29, 2022.
Furthermore, as you can see from the price chart below, the total number of all NFT transactions was low on April 26, 2022, at 46,923, then started to rise on April 27, 2022, to 58,494, but then fell again.
Source: Santiment
Looking ahead
As the "Calm Bear" series sold out within hours of its launch, its creators released a statement sharing their plans for the future with investors.
The plan was tweeted through the Temperance Bears community. The tweet says that the founders have already laid out their plans for the next 12 months. Based on the continued strong sales of "Calm Bear", Solana is likely to replace "Bored Ape" BAYC at the top of the NFT market in the near future.
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