Thread by @Kaloh_nft

Today I took time to bridge the gap (or at least take a step in that direction) between #ArtBlocks and #FxHash

Here is a market review, including artists that have released collections on both platforms.

1/15 👇

There are over 20+ artists who released collections on both platforms.

I needed a way to shorten the list for practical reasons, so selected these 8 artists...

@stefan_contiero
@mwiederrecht
@REAS
@piterpasma
@xiiixiii
@sarah_ridgley
@ippsketch
@HeveyArt

2/15 👇

This chart could be misleading as #ArtBlocks volume in 2021 was much higher than in 2022, and #FxHash volume has been trending upward this year.

Again, we are only considering selected artists and collections, not all qualified collections, for practical reasons.

3/15 👇

The average floors are almost x10 higher on #ArtBlocks (selected collections)

This chart is probably the most shocking finding in the whole analysis. We are comparing collections made by the same artists but minted in different blockchains.

Why such a big difference?

4/15 👇

Another shocking stat.

@piterpasma's combined #FxHash volume is close to ~$250k across six collections, while his only #ArtBlocks collection (Skulptuuer) crossed the $10M volume mark.

5/15 👇

@mwiederrecht's #ArtBlocks Curated Sudfah is her flagship collection.

It has produced over $1M in total volume, and she has released 10 generative collections across both platforms.

6/15 👇

@stefan_contiero's Milefogile was released as a free mint on #FxHash.

The floor is $282, much lower than any of his #ArtBlocks drops.

7/15 👇

@REAS ’ collections floors are very different across both platforms.

Editions aren’t a factor, as all the collections have exactly 1k pieces.

8/15 👇

Why is there such a big difference?

Possible reasons:

1. ArtBlocks launched in November 2020, while FxHash launched in November 20201. That’s a whole year of volume. Also, ArtBlocks was the first mover.

9/15 👇

2. These aren’t all the artists on both platforms. Some artists which also experienced great success on #FxHash were excluded

Nevertheless, I don’t think their inclusion would have changed the numbers radically, as their stats on #ArtBlocks are also quite impressive

10/15 👇

3. Both crypto coins suffered significant losses recently. #ETH dropped to $1.,3k from a ~4,8k peak (-114%), while #Tezos dropped even more, from ~$9 to $1.3 (-150%). This is an important factor as I calculated the total volume based on the current crypto coin’s value.

11/15 👇

4. The total number of active users on #ETH is over ~1.5M while #Tezos has ~85k users.

I understand the concept of #ETH being a premium blockchain, and collectors and investors are whiling to pay more for pieces minted in that blockchain.

12/15 👇

Despite that, I still believe such a big difference isn’t justified.

Two options come to mind, either AB is overvalued or #FxHash is undervalued.

I don’t think AB is overvalued, while I do believe many collections on #FxHash are undervalued.

Only time will tell.

13/15 👇

If you found this thread useful, don't forget to follow me @Kaloh_nft and sign up for my weekly newsletter...

kaloh.xyz

14/15 👇

As always, crowd intelligence is much more powerful than one individual brain.

Did you spot something else in the data?

Do you have your own theory on why there is such a big gap between both generative platforms?

I would love to hear your thoughts below ✌️

15/15

The math is wrong here 😅

ETH down 73% and Tezos 85%*

Thanks @calmanxx for noticing