NFT Marketplaces: Aggregation, Centralisation & Individuation?

  • With an easy UX people will get access to the widest market options, if you provide depth of liqudity
  • NFTs aren’t physical products and so the moat around stock is not the same as physical products
  • There are so many exchanges now, it is extremely challenging to keep up with where the best buy/sell price is available.
  • You could incentivise use with tokenomics and partnerships beneficial to the platforms too.
  • Network effects, if someone like Opensea builds up a meaningful moat if can be extremely hard to displace them. The example I saw used in the debate was Ebay. Ebay isn’t a great experience for buyers/sellers but people know it is where the most buyers/sellers are which reinforces their advantage.
    We have seen a few failed attempts to take volume from OS for example Infinity.xyz which didn’t make a dent. The closest so far has been LooksRare and I will be interested to see how this unfolds
  • Security issues — we have already seen issues and exploits on Opensea and other platforms on other chains. If you can’t guarantee the safety of an individual platform, would you want to expose your wallet and sign approvals to an aggregator connected to multiple platforms?
  • Technical issues like sorting royalty payments, transaction fees, allowing cross-chain purchases etc

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Interested in learning. Art collector, investor, DeFi obsessed, golfer.

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Kieran Parker-Moroney

Kieran Parker-Moroney

Interested in learning. Art collector, investor, DeFi obsessed, golfer.

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