NFT Wallet Analysis of 5 Blue Chip Holders
NFTGo Research
0x7bA5
October 11th, 2022

Flip Times and Flip Ratio are core indicators when reading NFT data. A flip happens when a seller profits from an NFT transaction, that is— the selling price is higher than the buying price. For example, if an NFT was sold 4 times in its transaction history and all of these transactions were profitable to the sellers, it means that the collection of this particular NFT had 4 flips, and the corresponding address will be recorded 1 successful flip.

This indicator can be applied to a collection—to find out which collection has the highest frequency of earnings, and address analysis—to analyze the strategies used by the most profitable addresses. In addition to the number of profitable trades, trading profitability is also an essential part of the analysis. Therefore, we also analyze the profitability of trades of a given address and found out that some addresses have a 95% success rate, while some have less than 50%. When shortlisting the addresses that are worth tracking, these two indicators need to be considered.

This time, we screened 73,000 addresses of blue chip holders, from which we found the 5 most profitable addresses and analyzed their wallet holdings and investment strategies.

1.@GriffdenNFT

Sappy Seals is the current most valuable project held by this address. This project accounts for 12.61% of its total NFT assets. In addition, Griffden also holds some Art Blocks and Acrocalypse NFTs. One of them, Acrocalypse, is not only a PFP collectible but also an ecosystem NFT for paperhands.gg. The ownership of this NFT allows for the execution of missions across the Acrocalypse galaxy.

According to our data this address acquired Acrocalypse Spacecraft through minting. The most valuable NFT at the time of buying was Weather Report Intl. which accounted for 27.11% of the total value at the time of buying. This NFT is a PFP-type NFT and its floor price has been on the decline since launch. Thus, the address is estimated to have lost 21.97ETH on this NFT. As you can see from the chart, some of the NFTs that were worth more at the time of purchase are currently at a loss.

2.jklaub.eth

In the current estimated value of NFTs held, Moonbirds ranks second, accounting for 16.04% of the total value of NFTs held by this address. Moonbirds is a collection of bird-based NFTs launched by PROOF. In addition, each NFT can get many benefits such as private club membership, Moonbirds IP’s second-generation qualification, etc.

From the holding value distribution chart, it can be seen that Moonbirds ranks first and CyberKongz ranks second. This series contains three different types of Kongz, with a maximum supply of 20,000 and a current market value of 38.46kE. According to this chart below, the current estimated profit of this address on CyberKongz is 5.16E.

This address is currently estimated to have a profit of 222.2E just with Art Blocks alone.

3.@kdimes00

The NFT project with the highest current estimated value held by this address is DigiDaigaku—accounting for 30.81% of the total. Following that is Meebits.

As seen from the chart below, @kdimes00 has the highest estimated potential profit (PnL) with DigiDaigaku at 37.58ETH. This address currently holds only 1 DigiDaigaku, all others have been sold. Based on Buy/Sell Volume data and transaction history, @kdimes00 is good at profiting from buying low and selling high on some of the hotter market items. When we dive in detail about trading history, we noticed that @kdimes00 bought more than 10 DigiDaigaku at around 0.1ETH and 1ETH. After some quick flips at price of 0.7ETH, the remaining NFTs were sold for around 12ETH at the highest point of hype on August 29.

4.flur.eth

Invisible Friends and BAYC, the top two projects in total estimated value held by this address, account for 12.90% and 12.05% respectively.

As seen in the chart below, this address has an estimated profit of 55.3E on BAYC and currently holds one BAYC. The address also has a CryptoPunk, but the potential loss is estimated to be 37E, and the Sell Volume shows that the address has only purchased one CryptoPunks, and has held on to it ever since.

Invisible Friends, at number one, is a collection of 5,000 animated invisible characters created by Markus Magnusson. This address is in this project, and it is estimated that the current loss is as high as 197.15E. It can also be seen from the Buy/Sell Volume that the address has bought many Invisible Friends NFTs, but the Sell Volume is relatively small. In addition, the current total PnL of the address is negative, and it is in a state of loss. Although the current holdings show a loss, it is likely that this is only because we are in a bear market. If this address holds onto these until the next bull run it's possible that they can turn a large profit.

It can also be clearly seen from this figure that almost the top ten of the HV list of this address are currently in a state of loss.

5.nftrelichunter.eth

At present, the estimated value of Grumpets NFT held by this address is the most, accounting for 42.3%, and the floating profit is 1.54E.

In the value list of the address at the time of purchase, the game NFT of Ether Orcs Legacy Page ranks first, accounting for 31.66%. It can be seen that the address has invested a certain amount of funds in GameFi NFTs.

Data, Timing, and Risks

Through our analysis of the 5 most profitable blue chip holders above, we have found some similarities and characteristics.

First of all, timing is important. Oftentimes, flipping when a project is hyped up will bring good returns. The "vibe-to-floor" indicator is all about this phenomenon too. Some NFT projects have the attribute to grab attention online. Therefore, it is quite common to see traders flipping NFTs when the ratio of hype to floor price is the highest.

Secondly, it is also extremely critical to identify and participate in big projects. Stratifications of earnings occur especially when project sizes differ and large earnings usually only happen to top projects. Earnings are not evenly distributed and a PnL gap is often seen between the first- and second-ranking project.

Finally, the success rate of flipping depends highly on chance. Due to liquidity, market, and the project's hype cycle, the NFT market will not run low on risks. When analyzing these well-known addresses, we found that some of the NFTs have negative estimated earnings because their current floor prices have fell lower than the buying price. This situation might have been caused by an untimely sale of the NFT or that the holder wishes to keep his assets longer.

If you are interested in tracking the transactions of these addresses or even further analyzing their strategies, NFTGo's Watchlist and Portfolio Analysis features will fulfill your needs.

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Arweave Transaction
yzyS0dSNAensqE5…06xggI4gD_ZVeUs
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0xFE0dfc1662E5836…93525efB37Ef818
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