# Road to $50M - NFT Marketplace By [taind](https://paragraph.com/@taind) · 2022-05-13 --- Current market analysis ----------------------- We’re in a **bear market**! That’s fact. So the road to $50M trading volume per month is harder than 6-8 months ago (when NFTs craze was going on). Taking a look on the top trading volume marketplace in last 30 days, we’ve got these guys: ![](https://storage.googleapis.com/papyrus_images/13ec354fb14474a1fcb1ab38972e0dbfe47e3d85c42cfea36a522bc6e0aae77c.png) **Opensea** is quite reputable as the 1st NFT Marketplace mover, with trading volume coming from the top collections in this game (BAYC, cryptopunks,…)._Let’s focus on looking at other alternatives to see how they attract users:_ * * * Magic Eden ---------- Magic Eden is the 1st NFT Marketplace on SOL. With some highlight features: * _Magic Ticket / Magic DAO_ * Consider its model as tier membership, each NFT represent your level and benefits in a DAO community,The most attractive benefit is: REWARDS. User receives points while using Magic Eden NFT marketplace, these points are convertible to SOL (or other rewards) ![Magic tickets](https://storage.googleapis.com/papyrus_images/799b6c987d175a23f57ded24785ae6c174ba9f08ffbff03a268aca9ddfaa38ff.png) Magic tickets * _Launch pad_ * A dedicated section for NFTs projects that got incubated by Magic Eden * They launch the NFT presale right on Magic Eden marketplace - launchpad section ![](https://storage.googleapis.com/papyrus_images/fc3fa1aaf2dae7290fbcef9b7e20dae7c8f58f8c488c7e94a4d9ac67a18b0dd5.png) The model is similar to crypto launchpad where they have ticket whitelisting <> IDO (public sale) slot: * Launchpad would act as a acquisition pool, where they acquire new users through co-marketing with the gamefi projects users * These users if they want to purchase gamefi project NFT, should have to purchase Magic Ticket to get a IGO slot * After grabbing the Magic Ticket, the user will likely to purchase the NFT in launchpad \=> Increase trading volume ![Magic Eden model summary](https://storage.googleapis.com/papyrus_images/699c309ab9186888f6e262e0441f22881230f8fbb9cfb8ff49a6775ae147f827.png) Magic Eden model summary **Cons:** * Magic Ticket <> Launch Pad is a great way to build loyalty users, but it’s not a fair-launch mechanics * Magic Ticket is limited, at some points it can create barriers for new users to onboard * The platform depends on new traffics they can acquire from Launch Pad projects * If the new projects’ traffic is dying out, then at some point there are no new traffics for Magic Eden * * * Looks Rare ---------- Looks Rare got a very unique rewards sharing mechanism that got user’s attraction * **Platform fee → Rewards for stakers** * The more volume traded on the platform, the more earning for the stakers ![](https://storage.googleapis.com/papyrus_images/a6a1effd9f7f5e2026ac9256ffc66a7d66a5b95e53a3987f1f00162c38168278.png) ![](https://storage.googleapis.com/papyrus_images/1e616efb293c7009d7af964db684324a5954f986934d8b21179a8847bd363906.png) * To boost more collection to be listed on Looks Rare, they even giving out rewards for listing the item ![](https://storage.googleapis.com/papyrus_images/0e8f1b033150d67b2a9b2c26a4f79e7e42c279e83407b41be31404e3f2388435.png) **Cons:** * Token rewards via listing / trading / staking is good for short term (up to 6 months) hype. * But for long-term, it depends on tokenomics balance to make sure $LOOKS token is alive * The model is somewhat similar to Play-to-earn gamefi models, good for immediate hype, but cannot retain from big supply sale in the long run * No clear revenue model, so it’s a big WHAT IF for them on keeping the $LOOKS’s price to be healthy * * * X2Y2 ---- X2Y2’s NFT marketplace brought new features to the forefront of NFT trading. Those features include: * **Profit-sharing**: X2Y2 is the first NFT profit-sharing platform. Users who [**stake**](https://phemex.com/academy/what-is-staking) their X2Y2 tokens on the platform will receive a % of the fees for all NFT trades proportional to their share. Other platforms such as OpenSea don’t offer profit-sharing. * **Bulk listings**: Users can list all their NFTs simultaneously or list selected NFTs in one transaction. This saves on [**gas fees**](https://phemex.com/academy/what-is-ethereum-gas) from having to pay for individual NFT listing. * **Bulk purchasing**: Traders can purchase multiple NFTs with one transaction, paying a singular gas fee. This also saves on gas fees for frequent traders. * **Push notifications**: X2Y2’s system automatically emails users the second there’s a bid or a purchase of one of their NFTs. It also notifies traders if their bid is accepted. * **Rarity statistics**: X2Y2 features a brand new rarity tracker that can track the rarity of items and also show the last price on OpenSea. Detailed analytics are included for each NFT and its history. * **Secret items**: X2Y2 will be the first NFT platform to feature secret NFTs and privacy will be one of their main angles in the future. * * * STRATEGY -------- So what could be a good strategy for a _new launched marketplace_ on a _new launched blockchain_, to achieve **$50M trading volume in the next 6 months:** * The Marketplace should be able to: 1. **Take advantage of current top marketplace’s traffics**, including: Users / Items / Sale activities 2. **Create incentives for creators / projects** => launchpad / rewards / competitive trading fee 3. **Create incentives for users** to trade NFTs on Marketplace => rewards / competitive trading fee --- *Originally published on [taind](https://paragraph.com/@taind/road-to-50m-nft-marketplace)*