The battle for market share.
Competition among businesses can be an exciting thing to watch.
IBM vs. Apple in the 90s for desktop computers.
Microsoft vs. AOL in the late 90s for the dominant internet browser.
Samsung vs. Google vs. Apple in the last decade as the top mobile phone.
In the crypto world, we’ve witnessed an epic battle for market share among many layer 1 blockchains since Ethereum's launch in 2016.
And in 2020-21, we watched a battle between Uniswap and Sushiswap (among others) to see who would win out as the dominant DEX (decentralized exchange) in crypto.
Since 2022 however, there has been no hotter battle in web3 than the one between NFT marketplaces. Competition is fierce.
It includes everything from technological innovation, feature rugs and of course, plenty of tokens. It’s been a fun story to keep up with.
But, do you know what’s really cool about the market share wars in Web3? 🤔
We can watch it unfold in real-time, on-chain!
We don’t need to wait for a company's quarterly earnings report or trust their PR team, we can stay up-to-date on the minute by 👀🔛⛓️
The chart below tells an incredible 3 year story about the adoption of NFTs and the marketplaces that enable this budding economy to exist.
If the chart above makes little sense to you, don’t worry…
In this report, I’m going to use the chart above and many more to walk you through the heated competition between NFT marketplaces over the last few years.
I’ll share some launch and growth tactics that some of the marketplaces have used to gain market share as well as some of the shady moves that have been pulled to gain an edge on competitors.
Buckle up friends, we’re going for a ride down memory lane! 🚀
By the way, this NFT marketplace war is far from over. If anything, we’re right in the heart of it now as you read this report. So this will get you up to speed on where we are and how we got here.
Plus we’ll speculate a little on where this will all go.
Let’s get into it 👇
Part 1: The Battle Begins
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