Tezos NFT Analytics

fxintell was a market analytics and portfolio tool for the Tezos NFT marketplaces. It pulled fxhash, objkt, Versum, Teia/HEN, 8bidou and typed into a single view, so a collection spread across six markets could be looked at as one thing.

What it showed

The portfolio side put your own holdings in a sortable table — every piece, what it was worth now, and by which measure.

The market side was charts. Sales trends for the top 500 fxhash collections, with 10 and 20 day moving averages and an RSI reading, borrowed from the indicators people use to read ordinary markets.

The third part was the one closest to live: a continuously updating view of what was happening right now. The last 500 mints, the last 500 sales, the price paid with buyer and seller beside it, and separate charts for mints and secondary sales.

Five ways to price the same thing

The hardest question was the simplest one. What is a collection worth?

A floor price is the cheapest piece currently listed, which is a statement about the most motivated seller rather than about the collection. One quiet week and a single impatient listing moves it. The last sale has the opposite problem: it is real money that changed hands, but it is one data point, and one buyer having a moment sets it.

So we refused to choose. It showed five numbers side by side — the floor, the median of the last ten sales, the average of the last ten, the last sale, and the highest sale ever recorded.

The median and the average next to each other turned out to be the useful pair. When they sat close together the market was orderly. When the average ran well ahead of the median, one large sale was doing the work, and the collection was worth rather less than its headline number suggested.

Showing five numbers instead of one is a harder decision than it sounds. It admits out loud that the question has no single answer, which is true and unsatisfying in equal measure.

Access was a token

We ran it without accounts and without a subscription. Access came from owning an Inner Worlds NFT from fxhash, at 100 tez, which carried lifetime membership with it.

That put the licence on the chain instead of in our database. It could be bought, held and sold on, and we only ever had to ask whether the wallet in front of us held one. No password resets, no billing, no churn.

It also meant the price of access floated. A licence that can be resold is worth whatever the market thinks the tool is worth, which is either elegant or precarious depending on the week.

We stopped because the market did. Crypto turned, and NFTs turned hardest — the enthusiasm of 2021 gave way to a long bear market it has still not fully come back from. An analytics tool is only ever as interesting as the market it measures, and there came a point where little was left worth measuring.

The project is still online and still available as a beta on request. It is just not being developed any further at the moment.