🧩Analysis Of Competitors
Market research has helped the project to understand the size of the market and predict the future trends. The aim of the research is to show how many competitors the Oaziz project has. After the research we will be able to identify the best practices and avoid common mistakes done by our competitors.
NFT marketplace competitors analysis
OAZIZ Marketplace is built on the Solana blockchain, that is why we will analyze only direct competitors. According to the DappRaddar, these are the top 5 NFT marketplaces:
Magic Eden with trading volume of $736.56M (per month)
Solanart with trading volume of $636.99M (per month)
DigitalEyes Market with trading volume of $127.3M (per month)
Solana Monkey Business with trading volume of $104.47M (per month)
SolSea with trading volume of $32.28M (per month)
As we can see, there is a gap between the two top and the remaining three marketplaces. The causes of such a gap comes from marketing strategy, artists, user based interface, the attractiveness of the platform and benefits for creators and consumers. For example, the top marketplace MagicEden has a simple yet easy to use launchpad which is a great advantage for new users. The homepage attracts the eye due to the high quality animations. However the easy use of the platform is the con as well - it’s full of plagiates and untasteful, unattractive artworks which overload the general flow of the website. Magic Eden, founded in 2021, has a lot of good examples on how the NFT marketplace should operate - today they own 90% of the NFT market share for trading volume on Solana blockchain. Moreover, Magic Eden might be positioned not only as a direct competitor to the OAZIZ marketplace, but also as a possible partner in the future as they offer an Eden Games section in which customers buy items for Solana based games. It would be a great opportunity for OAZIZ, as Magic Eden is currently the biggest NFT marketplace in the market and they could bring targeted traffic to the game.
Solanart marketplace is easy to navigate and user friendly. Solanart is the first marketplace based on the Solana blockchain. Ranking system realized in Solanart is an example of useful features helping customers to see what tokens are popular at the moment. However, the page appears to be constrained, as it takes time to load collections and rankings - in today's fast-paced world, this could appear to be a serious issue for the end buyer. DigitalEyes Market consider themselves as Solana's first open and permission-less NFT marketplace. Other than that, there is not much to say about the project, as it does not have any outstanding features. It provides the space to buy and sell NFT collections without any added value for artists or buyers
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