This article discusses the development ideas of innovative NFT trading market

As a key part of the NFT ecosystem, the trading market is a battleground for military strategists. As the world's largest NFT trading market, Opensea has maintained a monopoly position, so will there be an "opensea killer" in the future? Before discussing this issue, we need to classify the NFT exchange market. The dimensions of the classification are as follows: According to the public chain, each public chain has a corresponding NFT trading platform: Solanart on the Solana ecosystem, Kalao on AXAX, STXNFT on Stacks, etc. According to NFT types, PFP NFTs are mainly concentrated in Opeasea, game props NFT markets include Treasure DAO, ImutableX, Gala, etc., artwork NFT platforms include SuperRare, Rarible, etc., and virtual land trading platforms include Sandbox and Decentraland.

opensea

(The above is just an enumeration of the NFT trading market, not all.)

The current competitive situation

Opensea has undoubtedly become the "Taobao" in the NFT field at this stage, covering PFP, game props, artworks, virtual plots and all other NFT categories. Due to the early entry time and long-term cultivation in the industry, Opensea has almost monopolized all supplier resources, thus covering all NFT categories. Opensea, which was established in February 2018, still needed to lobby the project parties one by one to enter the platform in the early stage, but now it seems that it has become a consensus that the project parties take the initiative to list Opensea. Opensea has changed from quantitative to qualitative in the accumulation of TO B users. Although it is not cost-effective in terms of taxes and gas fees, due to Opensea's long-term control of the supply side, users can only buy products in a large and comprehensive market. Although Looks Rare and X2Y2 attempt to start hot through the token mechanism, if they cannot attract a large number of B-end users to settle in in a short period of time, they cannot overtake on a curve. As for whether such projects can compete with Opensea in the future, it still depends on the follow-up development.

On the other hand, the popularity of NFT transactions on Ethereum has led to the development of public chain NFT ecosystems such as Sol, Avax, and BSC. Each public chain also has its own trading market, forming an ecology similar to that of separatism. At present, Opensea has connected to Ethereum and Polygon, and may connect to Solana in the future, which will bring greater competitive pressure to the NFT market on the existing public chain.

Possible future business

So is it possible to bypass Opensea for differentiated competition? Here are several novel ideas for reference. The first idea is to segment the NFT trading market. If Opensea is compared to "Taobao", will a market like "Vipshop" or "Dewu" appear? In fact, there are already similar products or prototypes at this stage.

For game props NFT, currently large chain games are basically equipped with their own trading markets, while small chain games are concentrated in different game ecology, such as Gala, Treasure DAO, and IMX ecology. Taking Treasure DAO as an example, Treasure DAO is a decentralized NFT ecosystem built on Arbitrium, the second-layer chain of ether. The goal is to integrate NFT, Defi, and Gamefi to provide bridges for many closed NFTs, connecting Games and the Metaverse. Treasure DAO's NFT market has gradually integrated external Defi games such as Smol brains, Body, and Sees of Life, in addition to its own Bridge World game props. $MAGIC as the token of the ecosystem will permeate every project on the Treasure market. It is worth noting that the game props on Treasure DAO maintain a consistent pixel style, and the game ecology of unified style will become a trend in the future.