The extent of promotions, breakdown by NFT collection
We have previously written about the extent of promotions on Magic Eden, where we looked at Magic Eden’s recent Twitter followers to identify how many are only there for the promos.
Today we’re taking a much more comprehensive look at over 100 NFT collections across Ethereum and Solana. This time we are not just looking at their recent followers, but all of their followers. So here is our report on how many accounts are passive promo-only accounts.
Background
NFT Twitter is filled with giveaways that incentivize follows, likes, and retweets for a chance to win an NFT, an airdrop, get on a white list, etc. While this creates engagement for sure, it attracts many low quality accounts who are only there for the promotion, and often un-follows after some time.
We looked at over 100 NFT projects on Ethereum and Solana. We downloaded all of their followers, and we looked at the tweets they engaged with, and found accounts who only engaged with promotional tweets and nothing else.
To do this, we found all promotional tweets in the past 30 days. We found how often people engaged with them, compared to how much they tweet in general. Then, we found people who only engaged with promotional tweets, or who recently created an account just to engage with promotional tweets.
30% of all NFT followers are promo only
This is looking at Twitter accounts whose only purpose is to participate in promotions like giveaways or whitelists. They share characteristics like:
They don’t tweet anything of their own
They are overactive in participating in promotions
The extent of promotions is much higher for Solana NFTs
This could be because Solana NFTs are newer. Here is the breakdown:
Ethereum - 27% promo accounts
Solana - 43% promo accounts
Breakdown by Collection
Here are the top 10 projects with the least promo accounts on Ethereum
Here are the top 10 projects with the most promo accounts on Ethereum
Here are the top 10 projects with the least promo accounts on Solana
Here are the top 10 projects with the most promo accounts on Solana
Most Active Promoters
Here’s the most active promoters on Solana:
Here’s the most active promoters on Ethereum:
More to come
Keep a look out for the upcoming Followers tab on Coinfeeds, which will appear for most NFT collections, where we will be releasing these stats and more.