How to interpret NFT project data?
Trading Data → Check if liquidity is active or inactive; be cautious of inflated floor prices.
Holder Data → Determine if it’s a whale project; concentrated holdings carry high risks.
Community Engagement + Rights Binding → See if users genuinely resonate with the project.
Next time you encounter an NFT project, you can make a general judgment based on this approach.
We can assess NFT data through three dimensions: trading data, holder distribution, and community engagement.
1. Trading Data: High Price ≠ Valuable, Liquidity is the Real Indicator#
The NFT market is easily misled by "floor prices"; in reality, liquidity (like transaction volume, transaction frequency, etc.) is what truly matters. The most intuitive indicator of whether an NFT project is "alive" or a "zombie" is to see—are people buying and selling?
Key Focus Areas:
- Floor Price: The lowest listed price, to understand basic valuation.
- Transaction Volume: Total transaction amount and daily transaction amount, to measure market activity.
- Order Count vs. Transaction Count: Look at the holders' order situation and transaction situation.
- Liquidity Trend: Is it stable and active, or does it spike and then drop off?
Recommended Tools:
- NFTGo.io: Comprehensive data dashboard to view trends in floor prices, transactions, orders, and buyer numbers.
- OpenSea / Blur: Check order details and transaction records.
- Dune Analytics: Analyze Blur sniping activity, transaction strategy distribution, etc.
Tip: When looking at the floor price, don’t just check "what it is now"; more importantly, see if transaction prices are consistently active around the floor price. If a floor price has been listed for 10 days with no buyers, it’s inflated.
2. Holder Distribution: Is it Player Consensus or Whale Control?#
Why Look?
If an NFT project is controlled by a few "whales," it can crash with a single sell-off. However, if it has "distributed holdings + strong community consensus," such projects tend to have strong resistance to downturns and higher user stickiness.
Key Focus Areas:
- Number of Holders (Unique Holders): The more, the better; it indicates more distribution.
- Whale Proportion (Top 10/Top 100): High concentration carries significant risks.
- Holding Duration: Short-term speculation vs. long-term holding is clear at a glance.
- Holder Retention Trend: Is there a large amount of resale or offloading?
Recommended Tools:
- NFTScan: View project holder distribution and transfer records.
- Nansen.ai (paid): Identify if smart money/whale wallets are participating.
- Etherscan Token Tracker + Contract Address: Check specific address holdings.
Tip: If a project’s Top 10 addresses hold over 50%, be cautious; if one or two wallets sell, the floor price could drop significantly.
3. Community Engagement and Rights Binding: Do People Really Care?#
The value of NFTs often comes from "binding rights": Can you enter a DAO? Are there offline events? Is it a brand emblem? These aspects are often reflected in whether the community is active, if users resonate, and if the IP is continuously developing.
Key Focus Areas:
- Twitter/X Interaction Volume: Is there real discussion (not bot activity)?
- Discord Activity: Are there people communicating in channels, and are events frequent?
- User-Generated Content/Cultural Spread: Has there been the formation of memes, image macros, or other secondary content?
- Rights Extension: Are there binding activities, offline rights, brand collaborations, etc.?
Recommended Tools:
- NFTGo Community Dashboard: Engagement trends + links to social media.
- [Flipside / Dune Community Dashboard]: View participant wallet activity and on-chain activity frequency.
- Join Discord and X to explore community atmosphere.
Tip: Many NFT projects generate a lot of hype before launch, but die down a few days later. What matters is whether there is stable operation, with activities, creativity, and user retention.
Summary: How to Interpret NFT Project Data?#
Trading Data → Check if liquidity is active or inactive; be cautious of inflated floor prices.
Holder Data → Determine if it’s a whale project; concentrated holdings carry high risks.
Community Engagement + Rights Binding → See if users genuinely resonate with the project.
Next time you encounter an NFT project, you can make a general judgment based on this approach. I will update the community on tool usage later. Thank you.
Welcome to Join the Community
Feel free to join the community WeChat: BQ221858
Follow us on Weibo: @QuarkMing202
Follow us on Twitter: @xian202766693