RESEARCH
With numerous NFT marketplaces already available, the research stage was crucial for me to understand the existing landscape, identify user preferences, and determine areas for improvement. This research helped me iterate on existing products to create a marketplace tailored specifically to the needs of pro traders.
With numerous NFT marketplaces already available, the research stage was crucial for me to understand the existing landscape, identify user preferences, and determine areas for improvement. This research helped me iterate on existing products to create a marketplace tailored specifically to the needs of pro traders.
My primary research objective during the competitive analysis was to identify the features offered by each marketplace. Some key learnings & opportunities identified via our competitive analysis were:
- We can stand out by creating a marketplace with alluring visual design - something that isn’t seen before in the NFT marketplace landscape. Something less corporate (think OpenSea) and more avant garde, but still with all the features that users want to see.
- Cultivating a loyal community or "cult following" is crucial for crypto products due to the community-driven culture inherent in Web3.
- With so many products already out there in this field, we can sift through the features to figure out which ones matter most to users and cut out the less useful ones. This way, we can ditch the clutter and make a more efficient product.
I then interviewed several people who have had experience trading NFTs and are familiar with the web3 space. The main goal I had in mind while conducting my user interviews was to find out which features my interviewees absolutely needed while trading NFTs, and which features were unnecessary and bogged down the interface. This is what I found:
Essential features:
Dislikes and frustrations:
Essential features:
- robust search & filtering tools
- analytics dashboard that features real-time data and market trends
- activity dashboard that compiles cross-platform data for each project
- advanced buying & selling features (bids, offers, sweeps, etc.)
Dislikes and frustrations:
- overly complex interfaces that has unnecessary or redundant feature
- gimmicky, gamified features that serve no purpose
spammy notifications that clutter the interface but don’t provide valuable information - inconsistent UX across different platforms - would like some consistency in standards across all marketplaces