Mar 26, 2021
Nifty Gateway Open Editions: A Data Break Down
Nothing in this post and or newsletter is to be considered financial advice. All the content here is just a representation of the author’s opinions and views.
Nifty Gateway is currently the dominating platform in the crypto art space doing $121.5M as of today in March and $75M in February. SuperRare as the runner-up with $23M in March and $10M in February.
In this post, we will be studying the behavior of Open Editions from different artists. All of the artists featured here are great, and their art is fantastic; I own pieces from most of them, but we will stick to a strict data approach and will be using the Top Artist Ranking from CryptoArt.io.
All of the open editions that we will be evaluating will be more than two weeks old; that way, we have at least a reasonable amount of data to work with. All chart data will be sourced from NiftySecondary.com.
We will divide the analysis into 3 sections:
- Top 10 Artist
- Top 11–20 Artist
- Top 21+
The artists are the following:
- fewocious currently ranked #2 with 37k followers on Twitter
- trevorjones currently ranked #3 with 24k followers on Twitter
- madddogjones currently ranked #5 with 9.8k followers on Twitter
- gregmike currently ranked #17 with 11.3k followers on Twitter
- micah_johnson currently ranked #19 with 14.9k followers on Twitter
- toomuchlag currently ranked #28 with 8.4k followers on Twitter
- jonnoorlander currently ranked #32 with 4.2k followers on Twitter
- justinmaller currently ranked #47 with 44.4k followers on Twitter
- aeforia currently ranked #64 with 11.4k followers on Twitter
- gmunk currently ranked #80 with 26.3k followers on Twitter
The Analysis — Top 10
Fewocious
Ranked #2
37k followers on Twitter
Launched Victor And Victoria March 2nd at $1111 per piece
Currently, it’s trading at an average of $3,198
Floor prices: $3,900, $4,200, $4,249
% Change from the Last Sale To Drop Price: +200% (increase)
Trevor Jones
Ranked #3
24k followers on Twitter
Launched The Bitcoin Angel on February 23rd at $777 per piece
Currently, it’s trading at an average of $2,194
Floor prices: $2,949, $2950, $2999
% Change from the Last Sale To Drop Price: +280% (increase)
Mad Dog Jones
Ranked #5
9.8k followers on Twitter
Launched Why Would I Care I’m Just A Cat? on February 17th at $2,500 per piece
Currently, it’s trading at an average of $5,653
Floor prices: $9,000, $9,000, $9,400
% Change from the Last Sale To Drop Price: +220% (increase)
The Analysis — Top 11–20
Greg Mike
Ranked #17
11.3k followers on Twitter
Launched Fading Forward on February 24th at $999 per piece
Currently, it’s trading at an average of $1,016
Floor prices: $530, $555, $575
% Change from the Floor To Drop Price: -47% decrease (we used floor instead of the last sale here as the last sale was an outlier and not average due to the edition number)
Micah Johnson
Ranked #19
14.9k followers on Twitter
Launched Genesis.001 on February 18th at $999 per piece
Currently, it’s trading at an average of $1,766
Floor prices: $1600, $1650, $1695
% Change from the Last Sale To Drop Price: +55% (increase)
The Analysis — Top 21+
toomuchlag
Ranked #28
8.4k followers on Twitter
Launched Le Anime on March 2nd at $777 per piece
Currently, it’s trading at an average of $1,388
Floor prices: $890, $900, $900
% Change from the Last Sale To Drop Price: +12% (increase)
Jon Noorlander
Ranked #32
4.2k followers on Twitter
Launched Infinite Sculpture 1 on February 18th at $1500 per piece
Currently, it’s trading at an average of $1,508
Floor prices: $990, $995, $997
% Change from the Last Sale To Drop Price: -34% (decrease)
Justin Maller
Ranked #47
44.4k followers on Twitter
Launched Violence on February 17th at $1499 per piece
Currently, it’s trading at an average of $1,389
Floor prices: $915, $1,000, $1,000
% Change from the Last Sale To Drop Price: -40% (decrease)
Aeforia
Ranked #64
11.4k followers on Twitter
Launched Vulnerable on February 25th at $999 per piece
Currently, it’s trading at an average of $1,326
Floor prices: $750, $800, $850
% Change from the Last Sale To Drop Price: -10% (decrease)
GMUNK
Ranked #80
26.3k followers on Twitter
Launched Cosmicam.Canalis on February 18th at $999 per piece
Currently, it’s trading at an average of $1,032
Floor prices: $999, $1,077, $1,099
% Change from the Last Sale To Drop Price: +9% (increase)
Correlations
The analysis above can be summarized in:
- the higher in the ranks (ie. 1–10) and the higher their Twitter following, the higher the probability that their open edition will go above the initial sale price in the short term
- the lower in the ranks (ie. 21+) and the lower their Twitter following, the higher the probability that their open edition will go below the initial sale price in the short term
This is just a short analysis based on a small data source and my study of the market’s data for the last 60 days; more data is needed for better accuracy.
NFT prices are also affected by the crypto market’s volatility. This may change in the future as the new users/non-crypto people start dealing with Nifty Gateway primarily on fiat.
Summary
This is just my personal opinion and analysis. I love the art of all the artists above. Still, I’m also looking at the correlation between data patterns to help myself make better purchases in the future and increase my overall performance in my NFTs short-term and long-term investments.
