Cecil Garapo Jr
Case Study

NFT Marketplace

Project Background

The Client

Client Name Withheld ( Contractually Bound Till August 2022)

The Project

NFT Platform
Web

My Role

User Research
UI Design
Prototyping / Testing

Overview

The Problem

Buying and selling NFTs is profitable, however selling on NFT marketplaces has a number of drawbacks. Apart from service fees, there are hidden fees behind gas fees (such as an initial contract fee, a minting fee, a listing fee, and an auction settlement fee), making the trade highly unpredictable and unsustainable for small to medium digital artists.

The Opportunity

To design a platform where NFTs can easily be sold and purchased affordably with minimum processing time

Terms & Definitions

Common terms

Crypto – This is another name for cryptocurrencies.

Gas Fees – An amount required to perform cryptocurrency transactions on the blockchain.

Minting - is when an asset creator chooses who can create tokens/NFTs.

NFT – Stands for Non-Fungible Token. It’s a unique, one-of-a-kind digital asset that’s stored on a blockchain. No other token or cryptocurrency can replace it.

Design Process

Research

Primary Research

In order to understand the motivations, attitudes and statistics of our user groups we needed to use mixed methods in our research process which meant directly observing and interact with them

1. Interviews
2. Field studies

Interviews

Whilst conducting interviews we had to make clear the user groups the solution was going to address which where namely

1. The Artist (NFT Designers)
2. The Collector (NFT Collectors)

Some of the questions we asked but not limited to were

Field Studies

The field study was conducted by selecting key research areas we selected based on a parallel interview process and insights gathered from them, we sought to pick a different group looking to confirm or deny insights we derived from interviews.

Some of the key findings and insights we found are listed below

Secondary Research

NFT transactions have spiked by 21,350% from $82.5 million in 2020 to $17 billion in 2021 this is led by the NFT categories and marketplaces listed below more detail included in the visual data

The Leading NFT categories by market value

1. Art
2. Gaming
3. Utilities

The Top 5 NFT marketplaces by trade volume

1. OpenSea
2. Axie Infinity
3. Crypto Punks
4. NBA Top Shot
5. Magic Eden

User Personas

User Flow

Early Sketches

Low Fidelity Ideation

After creating the user-flow we went on to translating the concepts into tangible and testable artefacts

Final Sketches

High Fidelity Sketches

After some testing and user feedback on the low fidelity initial ideation we built on that and finalised the version 1 design to the below high fidelity results.

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