The current NFT market Psychological barriers I look at the floor. There is an instant sell button before the first listing. Why is the number 100 next to this NFT? Oh, wait. There's that many at the same price? Wait a minute. If I want to market buy something, I am expected to pay royalty fees and the taker fee? Why not just wait and place a bid? Taking the above into account, does that seem inviting to normies, or anyone at all? Fee structure This is also a problem. If you want to market buy, which is the main cause for positive price action. We are penalised for paying royalties and the taker fee. Yet sellers get away with this for free. How is this not an advantage to sellers? They get to sell without incurring any fees and limit buy without them. Dumb farming mechanics to encourage marketmaking and line the pockets of the marketplace. How does this not promote stagnant price action? I want to feel safe as a whale They're NFTs. They were never designed to be safe. If you want safe. Trade stocks where there is real liquidity. Growth prevention AMM pool misconception. They are designed to make the market efficient. Yes, the price does move, but at the minimum spread size. Therefore, it requires a significant level of volume to break out the shackles. If you want volatility and irregular price action. Then you want there to be inefficiencies in the order books. It's no accident that this is geared to benefitting the marketplace. 'There's no demand, that's the core issue'. The demand is there, but it gets smothered instantly by bots automatically undercutting each other and retarded listing promotions. Encouage growth If you truly want the NFT sector to grow. Marketplaces need to drop their egos and stop flexing pointless metrics. Give Tiexo a day off. The NFT ecosystem is tiny in comparison to your average shitcoin, and it will stay that way unless changes are made. Some influencers call NFTs shitcoins with pictures, and they have been for a while. The current system is proving them right. They were created to be different. So let them be different. Market saturation Stop making it so damn easy for collections to launch just because you're afraid to turn away the volume/ fees generated. Have some standards. The big boys don't want smaller exchanges to take marketshare or gain traction by allowing collections to launch. Why not use them as a test pilot. If a new collection fails to pass your quality inspection. They're almost guaranteed to turn to shit. If you were wrong and it turns out they do well. Just add them to your exchange, and the listings will move over by themselves. Crypto exchanges do exactly this. You won't see binance immediately list a random shit coin unless it has solid backing/ fundamentals. If it shows good potential and does well. They add it to their exchange, and the volume follows. Be more brutal regarding delistings. Stop sugar coating it with flagged collections. Nuke them and let smaller exchanges accommodate the graveyard. Rewind the clock Some of the most pure price action I have witnessed were the early Solanart days. This was before bids were introduced. No instant sell option on the marketplace or within your wallet. Sellers paid royalties. You typically hear about people 'accidently' instant selling from their phantom wallet. Why not add an instant buy button? It's already a better story when you accidently bought something. Taking all of the above into consideration. Can we not see that the current framework is broken? The entire structure is designed to promote trading ranges and price suppression. The NFT mindset is still stuck in the bear market. Split collectables and trading into sepeate categories. Not every collection was generated by fiver. The manipulated volume numbers give illusion that people are still participating. In fact, most are actually fed up and checked out. The price action you are seeing is mostly automated by bots/pools.
The face of Solana NFTs is littered with rugs. Why are our tier 1 exchanges the equivalent to pancake swap or another house of shitcoins? The funny thing is. I am actually holding some of these. Put me out of my fucking misery and make sure I never seen them on a marketplace ever again. This should not be a battle of marketplaces. It should be a coalition and work together to expand the entire ecosystem. It's time to align your incentives with project founders and the people. Make NFTs fun again.
@Trader_CSK @vtopiaio should study this if they want the new marketplace to make a difference
That was one of the greatest reads in a while! I'm 100% on your page, marketplaces do not act in the interest of the nft space, they act in the interest of collecting fees. You pointed out a lot of actual design problems, but to me really the AMM's are the ones that truly killed the price discovery and with that the fun as well. It needs a shitload of volume to breakthrough those walls and if people see them, they would all just list as well. And then it's basically just an endless cycle of amm's making money of collectors, causing demand to drop at some point, to the point most of the amm's just abond the project. Man, it really just sucks...