What does the future hold for NFT marketplaces?

What does the future hold for NFT marketplaces? Today, we are in the “eBay era,” with the largest NFT marketplaces aggregating everything into grids of products, focused on transactions. But in the future, the best NFT marketplaces may not even look like marketplaces at all.

Consider the progression of marketplaces on the internet: historically, the 1st generation of marketplaces added a ton of value just by aggregating any and all supply & demand. Think Craigslist, eBay, etc. The onus is on users to vet and find what they want to buy.

For NFTs, we are still in the 1.0 era of marketplaces, where users have to figure out what they want to buy, go to a marketplace, type the product into a search bar, and then transact.

Over the years, marketplaces evolved to deliver more seamless experiences, and the same will happen for NFTs. Vertical-specific features & signals will help users find the right product, and marketplaces can even learn from users’ behavior to determine what to surface.

Sometimes, these platforms can be wrapped into a compelling user experience so that they don’t even feel like marketplaces at all. Examples: Instagram, Airbnb, Etsy, Pinduoduo (social shopping app in China w/ $256Bn GMV) Discovery -> transaction exist in one experience

As the range of products expands and NFTs eat all of digital media—from digital fashion to metaverse land to game assets—there becomes a need for verticalized experiences, better discovery, and marketplaces that connect the dots for users.

Instead of users sifting through everything available, future NFT marketplaces will inspire and guide users to buy, even learning from their past on- and off-chain activity to ascertain what to surface.

What are some projects to watch that represent the future of how NFTs are discovered & collected? @context @soundxyz_ @catalogworks @withFND @pronounceddrop Each of these are building new social experiences, various models for curation, and features that are vertical-specific

Who else is pushing the boundaries of what NFT marketplaces can look like, and should be added to this list?

If you’re building in this space, I’d love to talk! DMs open!

Follow @ljin18 Source :- https://nextbigwhat.com Author :- NextBigWhat Date :-March 02, 2022 at 09:15AM