Lowering obstacles to non-technical investors in the field of NFT
Duration /
Mar 2022
(4 weeks)
Type /
Individual Project
Skills /
UX research
UX design
UI design
Problem /
Background
By helping creators and artists to experiment with new methods of establishing creativity and ownership, non-fungible tokens play a significant role in assisting people in achieving greater economic independence. Although NFTs have been around for only a few years, their popularity skyrocketed in 2021, and their market capitalization reached a notable $52 billion.
HMW support investors in making confident NFT investments?
There are limited platforms available for users who are not crypto-savvy and are not as familiar with crypto terminology and procedures. And also, there is a lack of options for managing them precisely and as part of mobile apps that users get to monitor other investment instruments.
Opportunity
MetaVVallet capitalizes on the crypto market by connecting the tech-savvy generation with new investors.
Product Preview /
Education for Wiser Investing
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Investors can make their investment decisions with the latest information
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Supporting beginners to have have acess to lastest investment strategies
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Utilizing the technology to make the experience user friendly
Simplicity in overall experience
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Enable users to discover new and popular contents based on their preferences, giving them easier process to view what they value and want to see more of
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Provide the most relevant information at first glance
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Search for items, creators, and collections by name or categories
Secure and reliable transactions
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Require multi-factor authentication before in-app transactions
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Report suspicious listings to maintain the platform's security
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Manage user privacy information and ensure that investors are aware of its visibility and intended usage
User Research /
User Interview
The NFT market is only utilized by a tiny number of people, who are burdened by prohibitively high entry barriers as well as a bewildering array of issues that go beyond simple user needs.
I have sat down for interviews with six individuals who are considering investing or have done so in the past. The majority of the users were in the 18 to 30 age range. The interview assisted me in better understanding user behavior, needs, and attitudes around the NFT investing process. I gained more knowledge regarding the issue NFT investors are facing.
The purpose of the interview was to gain understanding of how users now engage with and invest in NFTs in order to gain knowledge about how I might develop a platform that more effectively meets the demands of different users.
Research Questions
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How long have you been involved with NFTs?
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Do you find it tough to comprehend NFTs?
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What platforms do you use to buy or sell NFTs, and how have they worked out for you?
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What are your expectations while dealing with NFTs?
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Have you ever experienced the consequences of NFT fraud?
People want a learning system to help them comprehend NFTs better.
68%
Users find it complicated to locate artists or artworks that they like.
73%
Investors are concerned about the security of their holdings.
81%
Personas
New NFT investor. Kathy
22, Student in Seattle
As a senior student studying in accounting, Kathy is pursuing her education. She tries to save money before her career. She learned about cryptocurrencies, and last year she started looking at NFT as an alternative investment. She enjoys the arts. She engages with a number of NFTs marketplace platforms, but she hasn't found the best one to utilize consistently. Her expertise of NFTs is still expanding.
Goal:
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To have a more straightforward and user-friendly platform to manage her NFT investments
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To learn more about NFTs and perhaps buy some fascinating pieces
Needs:
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To have an app to assist her in understanding difficult jargon and logic she encountered while researching NFTs
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To be certain that her investments are secure and inaccessible to scammers and hackers
Pain Points:
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Given the shortage of an accessible platform, she lacks expertise with NFTs investing and finds it is hard to start without the knowledge.
"I find it's challenging to understand about NFTs because no one can explain them clearly. It's far more complicated than I imagined."
Josh NFT Collector
29, Investment Banker in New York
Josh is an investment banker who also enjoys investing in NFT. He started investing in the NFT sector a few years ago and is shocked by how popular it has become recently. He was scammed by a fake version of NFT artwork last year and lost a large sum of money, which made him lose faith in investing in NFTs. If a more trustworthy market becomes available, he wants to return to it.
Goal:
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To regain his confidence in NFT investments after a difficult year
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To browse more artists he might be interested in and invest in their works to encourage them
Needs:
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To get the most profit by helping him finding authentic, legal NFT pieces
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To leave his terrible experience behind with a simple and safe transaction process
Pain Points:
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After experiencing the scam, he finds it difficult to have faith in this industry and isn't as motivated to invest as much as previously.
“It was difficult to wake my enthusiasm in investing in NFTs, and I believe this was due to the immature environment of the NFT market at the time.”
The Main Insight
After conducting the interviews, I constructed an affinity map and identified a number of problems that users are facing in the existing platforms.
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Jargon causes barriers for the user experience and can lead to wasted funds and effort, leaving prospective investors confused and dissatisfied in the technology field of blockchain.
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Investors are deterred from using the platform because of the lengthy trading process.
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Protection against scams is in high demand.
Solution/
Ideation
According to the research, the app needs to lower barriers for non-technical consumers to interact with blockchain technologies and explore new forms for investment using user-friendly interfaces. Through a safe transaction procedure, this app ought to democratize finance for everyone.
Core Functionality
1/ Education
Instructional learning journey
Many new NFT investors are unacquainted with blockchain technology. Therefore, including a learning feature in this product can improve their comprehension and familiarity with NFT.
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The latest information and news assist inexperienced investors in making more informed investment decisions.
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The app manages the amount of jargon and provides clear explanations to motivate learners.
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Several topics are availiable to help learners overcome their blind spots and challenging investing cases.
2/ Simplicity
Approachable operating process
The research result confirmed that a clear and concise interface, terminology, and experience increased users' interest in investing in NFT. The key approach to removing the obstacle for non-tech users is to make it simple.
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The terminology is reduced and complex explanations are avoided throughout the entire user journey.
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The majority of the content is relevant to users' preferences based on their likes and saved items in the app.
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The clear and concise interface is thoughout the product for a more smooth user experience.
3/ Security
Reliable Investing Environment
According to the research, whether an experienced investor or an NFT enthusiast, everyone is paying attention to trust and safety. They want a dependable platform that would keep them safe from financial loss while also securing their personal information.
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Multi-factor authentication is used in every in-app transaction to confirm it's the user.
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Users can report any unusual behavior.
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There is a verified checkmark for platform-authorized users to help other users recognize them.
Wireframe /
The primary features were arranged and organized after multiple updates to the sketches. Users experience is made effortless by the connections between each feature. The early prototype demonstrates the solution's critical interactions.
Iterations/
Usability Test
I conducted a usability test with 8 users who had previous NFT investment experience. To evaluate the effectiveness of the user experience, I requested them to complete a survey after the testing. The parameters include the degree of convenience, easiness, and educational significance.
Survey Result
Very low
Low
Medium
High
0 1 2 3
5 / 8
High
2 / 8
Medium
1 / 8
Low
4 / 8
High
3 / 8
Medium
1 / 8
Very high
Convenience
Easiness
Educational Significance
1
Simplify the onboarding process
User Feedback
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Users are tired of filling out all of the fields in the onboarding process, which is extremely time consuming and monotonous.
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Users may wish to skip filling out all part of the information and move right into the app.
Redesigned the process of filling out information on the onboarding page, picking only the necessary information that will assist the user construct a profile and breaking it into numerous screens to prevent the user from becoming bored and giving up because there is too much information to fill out.
Before
After
2
Reorganize the arts section
User Feedback
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All of the modules on the feeds screen are so identical that users become perplexed.
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Users are more interested in trending and new releases rather than seeing different categories selection at the top.
Distinguish all sections to assist users in quickly identifying the modules they wish to explore, zoom in on new leased selection to users, and modify the layout to highlight essential areas and show their diversity.
Before
After
3
Separate search screen
User Feedback
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Users complain that the search box at the top of each page diverts their attention away from the artwork.
Recreated the previous search bar to a little icon in the upper right corner of each page instead of taking up much space in order to ensure that it doesn't obstruct space for other sections and designed a seperate search screen providing more information about the search result.
Before
After
The final screens
Final/
Welcome on board
Concise intro
The wording makes it clear to the user what the information is for, whether it is accessible to other users, and whether it is optional.
Explore Arts
Easily explorable
Enter the name or relevant words to find the items. Users can browse various sections on the homepage, such as new releases, works by creators they follow, or trending works on the platform.
Follow creators
Users can follow artists they are interested in to see their latest releases.
Create saved folders
Helps users to organize their favorite works by naming and creating folders for different works.
Place Bids
Detailed item description
Users can view an artist's profile, the current top bid on their work, and the bidding period as well as like, report, share, or add the item to saved folders.
Explanation everywhere
Small information icons to help new investors comprehend some terminologies and motivate them to learn, such as wallet address, blockchain, and token ID.
Reliable transactions
The implementation of multi-factor authentication aims to secure the transaction flow and better protect the user's funds.
Keep updated
Wise investment
In-app news feeds assist users in understanding the market prior to investing and using this information to make more informed investment decisions without relying on information from other platforms.
Education Module
The Learn screen offers learning resources on many themes to enable new investors comprehend the complete logic more easily and to allow users who wish to learn about NFT become experienced NFT investors more quickly.
Landing Page
I created a landing page to present potential customers to the product's features and benefits, and I incorporated the app's design style. I incorporated additional graphic components on my landing page to attract users.
Prototype
Video
Design System
Early Moodboard
The Style Guide
Colors
#231F20
#FFFFFF
#B4E1F7
Typography
Body
Title
Light
Regular
Regular
Iconography
Logo
Buttons
#FFD113
Reflections/
Key Takeways
1/Putting myself in the shoes of the user
This was my first experience designing a product in a field I was totally unfamiliar with. I discovered about this trend and wanted to create a product on it, as well as to assist others like myself who lacked such knowledge in joining the blockchain industry more confidently and reducing their fear of entering the crypto world. However, creating such a product needed me to conduct extensive study in order to understand its logic as well as to document my own challenging moments and thoughts throughout the process. This would allow users who are new investors like me to utilize the product more effectively.
2/Everything is built on research
This project necessitated extensive research to frame all of the features, and the material available online from diverse angles greatly aided me and established the foundation for my understanding. Furthermore, I learnt a lot about the problems of the users of the investment app from experienced investors, and I outlined these needs to come up with solutions. This procedure enabled me to better create various features for investors.
