Creators create and sell NFTs on Manifold.xyz. They receive primary sales from mints (supply-side fees).

Manifold.xyz is a non-custodial NFT minting protocol. Manifold.xyz was founded by Eric Diep, Richerd Chan, and Wilkins Chung and launched in 2021.

Team and investors own and govern the protocol. They currently take a mint fee paid by collectors (revenue).

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NFT marketplaces

Manifold.xyz

# Manifold.xyz Fees Methodology

## 1. Overview

ManifoldXYZ fees represent the total trading volume processed through the ManifoldXYZ platform, which operates on a model where trading volume equals fees collected. This metric captures revenue from two main activities: NFT marketplace transactions (direct sales and auctions) and Claims contract interactions. The calculation aggregates daily trading volumes across Ethereum and Optimism chains and converts them to USD values.

## 2. Data sources

- **Ethereum native flow data**: ETH transfer records tracking native ETH movements to and from specific contract addresses
- **Optimism transaction data**: Transaction records showing successful interactions with ManifoldXYZ contracts
- **ManifoldXYZ marketplace events**: Parsed smart contract event logs including `PurchaseEvent` and `BidEvent` events from ManifoldXYZ v1 and v2 contracts on Ethereum and v1 contracts on Optimism, plus `CreateListing` events for context
- **End-of-day token price feeds**: Daily closing prices for ETH, WETH, and other tokens used in transactions
- **Token metadata**: Decimal precision information for proper amount calculations

## 3. Step-by-step calculation

### Component A: Claims trading volumes
- **Purpose**: Captures trading volume from ManifoldXYZ Claims contract interactions, representing one revenue stream for the platform
- **Logic**: Extracts ETH transfers to specific ManifoldXYZ Claims contract addresses on Ethereum and Optimism. On Ethereum, filters native ETH flows to ten specific contract addresses while excluding a known wash trade transaction (meme wash trade). On Optimism, identifies successful transactions sent to two specific Claims contract addresses. All native ETH addresses are normalized to WETH addresses for consistency
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for transaction identification, `token_address` (normalized to WETH), `chain` designation, and `amount` representing the ETH value transferred

### Component B: Marketplace trading volumes  
- **Purpose**: Captures trading volume from NFT marketplace sales, including both fixed-price sales and auction completions
- **Logic**: Processes two types of marketplace transactions. First, extracts direct purchases by parsing `PurchaseEvent` logs and joining with `CreateListing` events to obtain token payment information. Second, identifies winning auction bids by parsing `BidEvent` logs, ranking bids by amount per listing ID, and selecting the highest bid (row number = 1) as the winning sale. Processes data from ManifoldXYZ v1 and v2 contracts on Ethereum and v1 contracts on Optimism. Null token addresses are converted to WETH addresses for standardization
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index` for event identification, contract `version`, `token_address` for payment token, `listing_id` for auction grouping, and `amount` representing sale value

### Final aggregation
- **Combining components**: Claims volumes and Marketplace volumes are unioned together into a single dataset, with both classified under the 'NFT marketplace' business line and 'nfts' market sector
- **Currency conversion**: Token amounts are corrected for decimal precision using token metadata, then converted to USD using end-of-day price feeds. The conversion process handles different token types and their respective decimal configurations
- **Time aggregation**: All volumes are aggregated to daily boundaries using timestamp truncation to day level. Data is grouped by timestamp, chain ID, market sector, business segment, product ID, and token address before summing trading volumes
- **Final calculation**: The daily USD-denominated trading volume sum becomes the fees value for that day, representing total revenue processed through the ManifoldXYZ platform. A zero-fill strategy ensures continuous daily data availability, and chain availability filtering ensures only active chains are included in the final results

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

Manifold.xyz

Fees

Fees

Competitive landscape

Chain breakdown