Trend | Direct-to-Consumer NFT marketplaces on the rise
Image credit: XCOPY Right-click and Save As guy
What's the trend?
Brands have always seen value in direct-to-consumer mint pages because it’s the best way to own the storytelling and conversion funnel for that critical touchpoint in the user journey.
But after that, most brands until recently would just hand off the ensuing traffic, engagement and sales to third-party marketplaces like OpenSea.
Now brands are increasingly launching or planning their own direct-to-consumer NFT marketplaces.
Our 0.02ETH 🍃
Now brands are increasingly launching or planning their own direct-to-consumer NFT marketplaces. This is for 3 key reasons:
- Royalty Enforcement: When OpenSea paid royalties to brands and creators on every secondary transaction, it was ROI-positive to outsource marketplace functionality. Now most major third-party marketplaces have stopped enforcing royalties, instead generating their own user engagement and revenue off the back of your brand IP. By contrast, of course, you can enforce royalties on your own marketplace!
- Owning The User Experience: Marketplace trading is one of the most valuable interactions token holders can make with your brand. Direct-to-consumer brands want to own the full user journey because it’s the best way to convert new customers as well as engage and monetize repeat customers. Since the 2021 NFT drop era is long over, and now the trend is to deliver high-value benefits and experiences for token holders, the arc is clearly bending toward brands needing to own their full web3 user journey just like web2.
- Cost & Speed to Market: Marketplaces require a lot more functionality than just a simple mint page, so it was typically too resource-intensive for a brand to launch their own marketplace. Now options like Mojito exist for brands to launch their own direct-to-consumer marketplace in 3 weeks or less with our standard UX templates and APIs – all for a reasonable monthly SaaS fee.
Covered by Mojito, the web3 consumer engagement platform. Empowering brand leaders with powerful tools to drive consumer engagement, sales, and loyalty for all levels of web3 maturity.
Signup for news, trends and analysis on tap. Join 2,000+ brand leaders going deeper into web3
See more available articles
Don’t build AI & Web3 in a Vacuum
Tips & tricks to help you navigate the age of onchain personalization.
AI and Web3 are a match made in next-generation tech heaven.
On one side, you have technology that's found its mainstream groove, and consumer product market fit on the heels of everyday life-changing apps like ChatGPT, Stable Diffusion, and Midjourney.
As a result, they've reinvented in a matter of months how we live, work, game, build apps, make art, and create pictures of cats (the last two may be one and the same).
On the other hand, web3 has rewired our brains, communities, products, and brand strategies for the onchain future—a paradigm shift where cookies become wallets, individuals become
communities, ads turn to tokens, clouds decentralize, and walled gardens turn transparent.
The end of a web3 loyalty program doesn’t mean the end of its value.
What Starbucks Odyssey taught us.
Recently, we examined why web2 toolkits like Reddit Pro aren’t the best option for brands that want to engage consumers and retain loyalty across their products and experiences.
So what is? Drumroll, please.
From art to sports, luxury fashion, and even credit cards, Web3 is ushering in an entirely new set of tools for brands that want to build deeper connections with communities across dynamic environments that they can customize to their greatest needs.
Let’s break down some of the benefits we talked about last week in greater detail, starting with web3’s ability to help brands:
- Gain insights into customer activity and behavior across both online and real-world touchpoints.
- Leverage new analytics by connecting data from wallet signatures and onchain activity to build richer profiles and segment audiences more effectively.
.png)
Mojito Brought the Toledo Museum of Art’s Debut Web3 Collection to Market with 10,000 NFTs — and Zero Code
Learn how we helped the museum tell an essential cultural story through the power of digital art and community.
Mojito's technology breathes life into dynamic web3 experiences for brands. We simplify the complex backend, allowing the front end to effortlessly focus on the fun stuff – including sticky consumer engagement.
Our recent collaboration with the forward-thinking museum turned this vision into reality. Mojito worked with Toledo's team to orchestrate a digital art experience by Osinachi & Yusuf Lateef. Our community engagement portal enabled Toledo to provide a smooth minting process, hassle-free claims, turnkey community management and reporting for the museum. The result? A powerful drop of 10,000 NFTs.
