In this study, we collected a complete list of over 5,000 NFTs from NFTscan, including their base prices, market caps, and trading volumes. Our analysis focuses on two aspects: determining whether an NFT is truly “dead” and assessing the profitability of its holders.
Determine if an NFT is dead:
We define NFT as “dead” If any of the following conditions are met:
- Volume is equal to 0
- Sales volume is less than 20 pieces in 7 days
- No activity on Twitter
Next, we calculate their lifetimes by determining their start and end dates, defined as follows
- start: Domain registration date
- ending: Last published date on Twitter
Evaluate NFT profitability
First, we used the NFTScan API to collect all transactions, totaling approximately 5 million transactions, and collected information on holders of specific NFT collections. Next, we calculate each holder’s profit and loss (PnL) by analyzing their transactions over a 5-year period. This allows us to determine whether they actually made a profit or loss from NFT trading.
