How Poor User Experiences Lower the Market Cap for NFTs
13 Maggio 2022 - 7:07PM
NEWSBTC
Interest in the revolutionary technology “NFTs” has been growing
over the last few years; in many countries, it peaked last year, in
others, such as Singapore and the United Arab Emirates, the NFT
boom is now. as interest grows, so does the number of people
hearing about and buying NFTs reaching well beyond the world of
crypto enthusiasts. Since the real hurdle to expanding a market is
turning curious people into investors in order to raise the market
cap of NFTs, it’s the new investors that need to be supported. The
problem is that the current poor user experiences in the NFT space
are pushing away new investors and lowering the market cap.
Research shows that the barriers to NFT adoption are reliability,
education and necessity. These barriers have severely limited the
adoption of NFTs. One columnist for The Daily Eastern News claims
that NFTs are “really confusing”, while other writers criticize NFT
marketplaces for being too technical, confusing and fragmented
across Web 3.0. Among the different marketplaces, many have
attempted to remove barriers to entry for new NFT investors. One
such example is Opensea which added MoonPay as an option to
purchase cryptocurrencies. By using MoonPay, an investor can
directly add funds and purchase NFTs through their app. However,
MoonPay is banned in numerous countries and states. Other issues
include lack of education, reliability and support. Currently, no
marketplace offers a solution to any barrier, let alone all of
them. The real challenge for users is that NFTs marketplaces are
all on separate blockchains, which creates a huge fragmentation of
communities, fanbases, art and assets. Therefore, what is urgently
needed to raise the market capitulation of the NFT space is an
all-in-one platform that removes barriers and then educates and
supports new users. Enter Ludo, a revolutionary all-in-one Web 3.0
app for play-to-earn projects and NFTs. Ludo aims to be the gateway
to the metaverse and all things NFT. Using the platform users can
discover, collect, showcase, promote and earn. Ludo is aware there
are barriers to NFT adoption and aims to remove them all, as shown
in their Manifesto, which states: “At Ludo, we don’t simply want to
be part of this New Renaissance. We want to shape it.”. The
question is, how is Ludo tackling the barrier to NFT adoption and
thus raising the NFT market capitulation? Reliability Ludo removes
the inaccessible nature of other marketplaces by creating a hub of
all things NFT. Instead of a user being separate from other
marketplaces, creators and buyers, Ludo offers a platform that
displays information from every marketplace. With Ludo, a user’s
first NFT experience is simplified to accessing their app and
finding the NFT they want. There’s no need to search across
blockchains to search for a marketplace. Education Ludo provides a
clean and sleek interface that is clearly labeled and
newcomer-friendly. The app avoids technical jargon and explains
terms in simplified ways, such as concert ticket NFTs and gaming
NFTs labeled as ‘experiences. Further, the search tools are
simplified with filters such as blockchain, cost and type. The NFTs
have clear icons dictating NFT price, blockchain and other
important information. Information on NFTs is compiled, allowing
users to educate themselves and learn more. Necessity NFT-based
content is rapidly growing as music, gaming, metaverses and
physical assets join the market. The necessity comes from the
growing fragmentation of the NFT space. As iterated previously,
Ludo provides an an-all-in-one hub of information, creation,
advertisement, community and content. As the NFT market grows, so
does the need for Ludo. Thus, Ludo removes every barrier by
offering a seamless and necessary platform that is reliable,
educational and supportive. By providing a high-quality, accessible
and supportive platform, Ludo provides greatly enhanced user
experiences. Resulting in new investors who are more likely to
stay, purchase and grow the NFT market. The poor user experiences
of newcomers are a thing of the past as Ludo supports the growing
NFT market capitulation. Find out more about Ludo and apply to be
an alpha tester on their website here. Image: Pixabay
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