An overview of Kanaria’s secondary market: Numbers, Holders, and Traders
Kanaria was the debut collection for the RMRK 2.0 protocol, featuring its capabilities of nesting, multi-resources, and conditionality. It started with an egg sales phase, and after some time and with the right conditions, the bird was born.
The collection comprises 8478 unique NFTs that can equip items like hats, necklaces, swords, change the background, and the list goes on… Soon after the launch, it became available for trading on the Singular NFT Marketplace, and we will focus on this trading period in this analysis.
Kanaria on Singular: Volume and Transactions
Trading started on 06/09/2021, and we can verify that the collection had some activity peaks. The most recent was during the initial phase of the Kanaria: Skybreach Land Sales. The total Sales Volume is 109,116 KSM, with Dec/21 being the highest in Volume (22,626 KSM).
You can filter the chart above by month to take a closer look. For example, when choosing Jun/22, we see a spike on the 19th, a few days before the Skybreach Land Sales opening for Kanaria NFTs holders.
Volume x Rarity
Not all birds were hatched the same. This collection has 4 Rarity levels: Limited Edition, Rare, Founder, and Super Founder. From all sales volume, a little over 50% was generated by the Limited Edition. It is worth mentioning that we had sales on the Super Founder Rarity, with expressive value, and that Rare Kanarias had a % of the total volume way higher than its % of the total supply (see the data on the chart above)
Kanaria Birds: Most Valuable, Most Traded Birds
While a good chunk of Kanarias is happy in their nest (not leaving the minter wallet), some actively participate in the secondary market. More precisely, 2693 Kanarias (31.7% of all) exchanged hands in the period. And the most expensive bunch of them is shown below:
Some birds leave the nest for a new one more frequently than others. As a result, even on the Most Valuable List, a few birds have a higher trading activity than the rest (being traded 2 or 3 times). The table below shows the list of all traded birds, the value of each transaction, and the date.
All columns are searchable and sortable. The image below shows a search on “Super Founders” and sorting Total Value (ascending). Here we can see that KANS-00000007 was traded twice already.
Kanaria Holders and Traders
There are 2405 Kanaria Holders, with 1741 (72.4%) of them holding 1 Bird. The chart below shows the current TOP 20 Holders, without the RMRK team address, as the Kanaria NFTs held there are not available to the open market.
The TOP 20 Holders own 1395 Birds (16.7% of the total supply). This indicates that the collection is not concentrated in the hands of a few address owners, and you can check which NFT each address holds and see the full list in the table below.
Traders
The TOP 20 traders are displayed in the chart below.
A total of 5225 transactions have been made so far, and those addresses were the ones that traded the most. Were they here only for profit? Let us see.
The chart above shows the final result of all the TOP 20 Traders' transactions. Negative values mean that the sum of all buys was bigger than the sum of all sells. We have a mixed profile here: Some traders only sold but most actively managed their portfolio, with a few adding a lot of Kanarias to their bags.
Traders = Holders?
That begs the question: If some traders add more Kanarias to their portfolio, how are they ranked on the holders’ leaderboard? Well, the answer is shown in the chart below.
Of the TOP 20 holders, 7 are also part of the TOP 20 Traders, and another 6 made a few trades. OK… But they added more Kanarias to their flock, or they sold? We can see the picture below by checking the difference between their buy and sell transactions.
The overall scenario is a mixed one: Some sold part of their portfolio, and others built a big part of theirs by trading. It is worth mentioning that the Top Holder address didn’t trade at all, keeping all birds cozy in their nest.
TL; DR
Kanaria was the first collection built on RMRK 2.0 protocol. It has had a good trading volume since its launch, with special periods of higher trading frequency. The Top Holders interacted with the secondary market, taking the chance to adjust their portfolios, and they don’t hold a too big part of the collection (around 20%).
You can check all information in the table below, which shows all the trades made so far (Click on the link as it is too big to open here)
More information:
- Website: https://singular.app
- Twitter: https://twitter.com/RmrkSingular
- Collection explainer: https://polkaverse.com/@rmrkapp/kanaria-nft-demystified-what-am-i-actually-getting-18506
