Millions of dollars in NFT art purchases: How SuperRare's top collectors spend their money 💰
I crunched the data on the top 100 SuperRare collectors of the past year to find out what they were spending, what kind of art they were buying and how they were allocating their funds.
As seen in the chart below (credit to Richard Chen the crypto data king), SuperRare has one of the highest sales volumes of any curated NFT platform.
https://duneanalytics.com/queries/11005/21861
This could be described as the 'high-end' of the NFT art market. Analysing these collectors could give us an indication of not only what is succeeding on SuperRare but also the mindset of 'whales' across the NFT art space. Here are 10 key insights I found 👇
[1] A total of $28M was spent by the top 100 SuperRare collectors over the past year, with 50% of this spend being made by the top 15 collectors.
[2] The top 100 collectors had total purchases ranging from $57k to $3M.
[3] The average spend per NFT was $21,765.04 (13.36 ETH) and ~90% had a spend per NFT below $50k (30.70 ETH).
[4] The average top collector had one big purchase that accounted for 34% of their total spend.
[5] On SuperRare, artists can tag their work based on medium, genre and theme. The most popular tag in the currently owned collections of the top 100 (the NFTs they are holding today) was #3D which appeared 1159 times, followed by #animation (847), #gif (775), #abstract (729) and #surreal (719). You can see a word cloud of the tags in the link below. For the life of me, I can't understand why so many artists felt the need to use the #art tag 😅
[6] The artist who showed up in the most currently owned top 100 collections was a tie between miss al simpson and Coldie, who both had at least one piece in 20 collections. This was closely followed by Hackatao (18) and mbsjq (17).
[7] 64% of the top collectors had a Twitter account that linked to their NFT activity. Within that group, audience size was not a good indicator of buying power.
[8] The median number of NFTs purchased over the past year by collectors in the sample group was 25.
[9] The biggest purchase made by a top 100 collector was this Wednesday's historic sale of “Death Dip” by XCOPYART to 4156 for $1.73M! This secured 4156 the #1 spot on the SuperRare collectors leaderboard.
[10]There were two collectors in the SuperRare top 100 who were artists themselves: Fewocious and Coldie. It was encouraging to see big artists reinvesting in the community and hopefully as more fortunes are made in the cryptoart world this stat will rise.
Disclaimers: (1) The number of works currently owned does not equal the number of works collected by the collector. No of works owned can be lower because the collector sold some NFTs or higher because they received transfers of NFTs as swaps or gifts.
(2) Based on what I observed, I believe the 3d tag would have won regardless, but I feel the need to point out that many 2D artists did not tag their work as 2d, whereas most 3d artists tagged their work as 3d. Lots of 2D artists used the illustration tag though, which showed up X times.
Hope you found this interesting!
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I'm working on a bigger collectors analysis that tracks collectors’ activity across multiple platforms by their ether wallets and covers more variables like resale performance. Let me know in the comments what questions you'd like answered in that post and other future NFT data breakdowns! Keen to keep adding value to the NFT community this way ⚡
If you read the previous post on $100k artists but didn't see the update you can find it here: https://twitter.com/TableNifty/status/1371466714261696515?s=20
