Given a transaction where an NFT reached its final destination after a sale, how can I derive the cost of the NFT? For example, if I search for an asset on cardanoscan.io, the assets involved confuse me: RAVE and ROCKET.
Is there a calculation I can do on the inputs and outputs to derive the exact cost of the transaction? Not just the transaction fee but the cost of the token? Or do I have it conceptually wrong?
Thanks in advance for any insight!
If you can identify the size of the tx (bytes) you could utilise the fee calculation formula given the protocol parameters at the time of submission. (This might be tricky, but it is possible if you were inclined enough to find out a fairly accurate ball-park fee)
Cardano's fee structure is quite simple. Fees are constructed around two constants (a and b). The formula for calculating minimal fees for a transaction (tx) is a * size(tx) + b, where: a/b are protocol parameters.
Blockchains do not have an inherent notion of price; one cannot know the price of any asset, including ADA itself, simply by looking at on-chain data (until of-course we develop a robust oracle system). Currently, the price of cardano-assets like ADA, NFTs, e.t.c. is mostly dictated by off-chain markets (mostly centralized exchanges).
Until we have price/liquidity data being posted on chain, there will not be a way to derive asset prices purely from on-chain data. That being said, analyzing the inputs and outputs of transactions on chain may give you insight into the nature of a transaction that you can use to infer what kind of value transfer is going on.
