Chapter 0: The Future of NFT Marketplace
Until now, the word NFT has often been associated with the speculative effect behind digital art works 👨🏻🎨 . According to the Financial Times, it is not all about the world of art and collectibles, in fact NFTs are a form of certification applicable to any type of digital or physical object. In the next few years, the real challenge of the main marketplaces will be the ability to focus attention on the different use cases of Non-Fungible-Tokens, highlighting the need to guide and educate new users in the immediate future.
Visibility is an almost unattainable goal
The entire Non-Fungible-Token supply chain has an extreme need to protect the Early adopters of this technology.
With the improvement of standards for issuing NFTs, over the last year, the entry barriers have reduced significantly. The reduction of some obstacles and the introduction of novelties such as the free-mint, have generated an enormous growth of interest in this new market, attracting new operators eager to grab a small slice of the volumes by creating their own works.
The ease with which it is now possible to create a new NFT collection, combined with the opportunity to raise large funds, has led to an overcrowding of projects on the various marketplaces.
The projects that manage to emerge and stand out in this open sea are those that make important marketing campaigns in order to make themselves known by the communities. Marketing, therefore, plays a main role in obtaining visibility and has now become fundamental and a necessary, but not sufficient, condition to bring a project to success 😔.
The Future of Marketplaces
All the largest NFT marketplaces are managed directly by a company that collects all the profits from the volumes in its secondary market. So, while the cryptocurrency community, and in particular the one of NFTS, is a completely decentralized community, we cannot say the same about NFT marketplaces. Once more public marketplaces are launched, the competition will focus on the additional services that these marketplaces will be able to offer their users.
It is in fact possible to launch a marketplace governed, in a total or partial way, by a Decentralized Autonomous Organization (DAO), whose decisions will be proposed and adopted by the holders of the platform’s native token. Through the release of a governance token, it would be possible to achieve greater interaction with the community, opening the doors to many other perspectives, such as the distribution of profits in a more equitable way.
In this way it is possible to create a decentralized NFT market, without only the companies making the decisions, but leaving much more importance to the community itself.
MoreNFT aims to be the new generation of NFT Marketplace. A user-centric multichain NFT Marketplace that will enhance Creators, Star and Brands due to an exclusive marketplace called Factory.
The Factory, and the whole platform, will be led by the community through the DAO.
MoreNFT wants to create an ecosystem between Creators, Stars and Brands to develop projects that exploit the potential of NFTs, granting investment opportunities and new services to the entire community. An ecosystem based on a community economy concept, providing tools and knowledge to understand, use and benefit from the change brought by the Blockchain and NFTs.
Thank you for your time and for keeping up with what MoreNFT is up to.
In the next Chapter we will look into:
Chapter 1: MoreNFT Structure: The Factory