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 Trading volume Methodology

## 1. Overview

Manifold XYZ trading volume measures the total USD value of NFT-related transactions processed through Manifold's platform, including both direct NFT claims and secondary marketplace trading. The metric combines ETH payments to Manifold Claims contracts with trading activity from Manifold's NFT marketplace across Ethereum and Optimism networks. This provides a comprehensive view of economic activity within the Manifold ecosystem, covering both primary NFT minting/claims and secondary market transactions.

## 2. Data sources

The calculation draws from several types of blockchain data:

- **Native transfer flows**: Ethereum native ETH transfer records tracking payments to specific contract addresses
- **Transaction records**: Optimism transaction data for Claims contract interactions  
- **Marketplace event logs**: Parsed Manifold marketplace contract events including `PurchaseEvent`, `BidEvent`, and `CreateListing` events from Ethereum (v1 and v2 contracts) and Optimism (v1 contracts)
- **End-of-day price feeds**: Token price data for USD conversion
- **Token metadata**: Decimal precision information for accurate amount calculations

## 3. Step-by-step calculation

### Component A: Claims trading volume
- **Purpose**: Captures ETH payments made to Manifold Claims contracts for NFT claiming/minting
- **Logic**: For Ethereum, the system identifies native ETH transfers to 10 specific Manifold Claims contract addresses using native transfer flow data. It filters out transfers with zero value and excludes one specific transaction hash identified as a meme wash trade. For Optimism, it tracks successful transactions sent to 2 Claims contract addresses. All ETH amounts are standardized by converting null addresses (representing native ETH) to the WETH token address for consistent token representation.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for transaction identification, `value` for ETH amount, `account_address` for contract targeting, `token_address` standardized to WETH

### Component B: Marketplace trading volume  
- **Purpose**: Captures trading activity from Manifold's secondary NFT marketplace
- **Logic**: The system processes two types of marketplace events across multiple contract versions. For direct purchases, it captures `PurchaseEvent` logs and joins them with corresponding `CreateListing` events to determine the payment token used. For auctions, it captures all `BidEvent` logs for each listing and selects only the winning bid (highest amount) using row number ranking. The system handles three contract schemas: Manifold v1 on Ethereum, Manifold v2 on Ethereum, and Manifold v1 on Optimism. Payment tokens are standardized by converting null addresses to WETH addresses.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for event identification, `amount` for trading amounts, `listingId` for auction grouping, `erc20` for payment token identification

### Final aggregation
- **Combining components**: Both Claims and Marketplace volumes are unioned together with consistent field mapping. Each transaction is categorized by volume type (Claims or Marketplace) and standardized with common fields including chain, business segment, and token information.
- **Currency conversion**: All token amounts are converted to USD using end-of-day price feeds and corrected for token decimal precision to ensure accurate value calculations
- **Time aggregation**: Transactions are grouped by day using timestamp truncation, with volumes summed across all transactions within each day-chain-token combination
- **Final calculation**: The metric represents the sum of all USD-converted trading volumes across both Claims payments and Marketplace transactions, aggregated daily and filtered by chain availability to ensure data quality

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

Total value of spot trades executed on the exchange.

Manifold.xyz

Trading volume

Trading volume

Competitive landscape

Chain breakdown