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.