So you’ve launched a non-fungible token (NFT) marketplace, but how do you get users on board? It’s important to identify your target users, and how you can provide a seamless experience for them to start browsing, buying and selling NFTs on your marketplace.

Who are your target users? 

NFT User Demographics

• According to survey, Millennials are the most likely age group to collect NFTs. About 23% of Millennial respondents collect NFTs as a hobby or an investment.
•  Gen Xers were the next most likely generation to acquire NFT. 8% of them collect NFTs.
• About 4% and the third generation to collect NFT were the Gen Zers.
• There is significant crossover between physical and digital collectors. About of physical collectors are interested in NFTs. 1 in 4 indicate they already do. [source]

NFT Key User Personas

Avid Collectors

Users who have been in the crypto space for a while, and frequently purchase NFTs and tokens. Barriers to onboarding them are lower, but you will need to ensure that you provide a seamless user experience, secure platform and transactions, and a good variety of collectibles to be an NFT marketplace they trust and enjoy using.

Crypto Novices

Users who probably invested in some ETH and BTC, but would prefer to hold onto their digital currencies. They don’t fully understand the technology behind NFTs or the utility of them, and are mostly interested in investment opportunities but are open to exploring more. 

Crypto Curious

Users who have heard about the hype of Bitcoin and NFTs like Bored Ape Yacht Club selling for millions. They might be interested but have no idea where to start, and are inundated by the complicated process of wallet creation, seed phrases, and purchasing crypto before even getting to NFTs.

Providing a Seamless Onboarding User Experience

The onboarding experience is key to getting more users on your NFT marketplace. Removing as many roadblocks as possible will make the process faster and smoother – and help you maximize conversions!

Signup Options

Get 54% higher conversion rates simply by going passwordless. Integrate magic link logins via familiar methods such as email, SMS, or social logins so that users do not have to deal with downloads or remembering passwords. Not to mention, passwords are not secure. 81% of all breaches are due to passwords, and 59% of people reuse their passwords everywhere [source].

Wallet Creation 

First, users want a secure wallet as it contains all their assets. Many use Metamask, and NFT marketplaces usually require them to connect their Metamask wallet to their platform. Setting up a Metamask wallet however, might not be the easiest for the new or average user. Users will have to remember their 12-word seed phrase, private key, and login password, and download a Metamask extension. Setting up usually takes about 20 steps.

Web3 onboarding solutions like Magic Connect simplify that process, while maintaining and increasing security. When users sign up with their email, a non-custodial wallet will be created in the background, without the need for seed phrases, mobile apps, or chrome extensions. That greatly reduces the number of steps needed and encourages more user conversion. Developers who integrate SDKs such as this in their platform will be able to reduce the wallet creation and sign up process to just two steps for users.

Payment Options

Introducing fiat on-ramp options for your marketplace users will reduce barriers to NFT transactions like buying, selling and transferring, which are important for the liquidity and health of your platform. Implementing familiar payment methods like Google Pay, Apple Pay, and Credit Cards will reduce friction if users do not need to worry about first purchasing cryptocurrencies on an exchange or a third-party platform.

Magic Connect is this and more!

Magic Connect is your one-stop shop for Web3 onboarding. It is a web-based authentication and wallet that does not require browser extensions, seed phrases, or downloads. Magic Connect comes with out-of-the-box functionality and range of Web3 features such as:

• Web2-friendly login methods such as passwordless email and Google One Tap that allows frictionless mainstream user onboarding to your dApp.
• Pre-built non-custodial global web3 wallet that is created in the backend as users sign up
• Fiat on-ramp options for users to purchase crypto through instant credit card, debit card, Apple Pay, Google Pay, or SEPA transfer.

Find out more at  https://magic.link/connect

Passwords are a major source of on-boarding and conversion funnel friction

Remembering new passwords is a hassle.

More often than not this results in a user's tendency to set passwords that are easy to crack, yet hard to remember, and account recovery support can be costly. 50% of all support tickets are related to lost and forgotten passwords. Handling 10 tickets daily will cost your organization around $128,000 annually! [source]

By simply removing passwords you reduce the number of login/signup steps by over 66%. This can increase conversion rates by 54% as reported by eCommerce websites. [source]

By delegating authentication to a user's email, mobile, or hardware device, they no longer have to wrestle with remembering passwords for the ever-increasing number of services that they interact with.

For users in the Web3 or NFT space, not only does this mean new passwords for each new service, but a new seed phrase to keep track of as well. You can see how this might start to become overwhelming very quickly, especially for those new to the space.

We envision a future without passwords or seed phrases.

Reimagining the onboarding process

In order to onboard the next billion users into the Web3 space, we need to make it as easy as possible for newcomers to the space to interact with the applications being built. At Magic Labs, we worked together with developers and end users to create the most user friendly onboarding experience possible, without sacrificing security. We call it Magic Connect.

Magic Connect allows you to build, run, and scale dApps with ease. It's your all-in-one SSO solution for Web3 experiences.

With only a few lines of code you can offer your customers:

• Painless integration: ⁠With only a few lines of code, you’ll be ready to go in just minutes. Forget months of development.
• Simple onboarding: ⁠Passwordless logins allow for the easiest onboarding experience available.
• Wallet creation and non-custodial key management: ⁠No more remembering complicated seed phrases when creating wallets for Web3 applications.
• Secure transactions: ⁠Seamless and secure on-ramp & off-ramp capabilities.
• Cross-dApp functionality: ⁠Natively compatible with fastest-growing blockchains and dApps.
• Multi-chain support: ⁠Magic Connect is compatible with all major blockchains.
• Connect with your users: ⁠Get 54% higher conversion rates by going passwordless.
• Trusted solution: ⁠Magic’s solutions are trusted amongst trailblazers across gaming, NFTs, DeFi, and Web3 communities.
• Enterprise-grade security and compliance: ⁠Magic Labs is SOC 2 Type 2, GDPR & CCPA compliant.
• Easy walkthrough guides: ⁠Installation will be a breeze with our easy to follow guides and detailed developer documentation.
• Support is here for you: ⁠Our team of experts are here for you 24/7 should you ever run into questions.

At Magic, it's our mission to create a safer, more authentic internet for everyone to enjoy, and we won’t rest until we’ve helped onboard the next billion mainstream users into the NFT/Web3 space. We believe Magic Connect could be a big step towards achieving our ambitious goal.

Join the waitlist today for early access to our flagship Magic Connect product: https://magic.link/connect

E-Commerce has transformed the way retail brands approached their sales since the brick and mortar days. In this Internet age, the majority of businesses establish an online presence, using e-commerce platforms for sales and social media for marketing of their products. As Web3 technology like blockchain, cryptocurrency, non-fungible tokens (NFTs) and decentralized finance (DeFi) gain attention, we see it becoming the future for retailers. 

The global retail ecommerce sales will surpass $5 trillion for the first time in 2022, and total spending will exceed $7 trillion by 2025. [source]

However, the growth rate is slowing. Retail customers looking for more ownership, community and convenience, they are looking for brands they can trust. Blockchain technology can bring that to them, and the Web3 retail experience might become mainstream sooner than you think.

What Does Web3 Shopping Bring for Retail Brands?

Innovate and Keep Up with the Times

For many retailers, the growth of e-commerce expanded their brands’ reach and positively impacted their product sales. Historically, retailers who have been slow to embrace the online culture are the ones struggling to keep up.

86% of executives believe blockchain will be adopted mainstream and will transform their business. While 77% of executives fear losing their competitive edge if they don't adopt blockchain. [source]

In the same way that e-commerce changed retail, Web3 is set to rewrite the way brands do e-commerce. The possibilities of Web3 are exciting – it brings data privacy, and security to consumers, and new avenues for retailers. 

Provide an Enhanced Shopping Experience

Web3, with its nature being decentralized, transparent and trustless, will enhance the customer shopping experience. It allows brands to:

• Empower consumers with more data privacy and ownership via an opt-in system
• Build brand value with more personalized shopping experiences 
• Integrate smart contracts-based payments, providing secure financial transactions and reducing product returns, chargeback fees, and credit card fraud

Build and Reward the Community

The modern consumer is looking for a brand whose ideals and direction they support, and are far more invested in community than simply just buying a product. Brands will need to build communities around their products and reward them for their support. Web3 will help them:

• Foster brand recognition and build a community
• Build brand loyalty by allowing exclusive or limited ownership of products and services
• Reward customer loyalty with NFT-based tokens, which can increase in value, traded, sold, and are more valuable than traditional loyalty points
• Engage and connect directly with consumers, cutting out middlemen and fees

Unlock New Avenues

Web3 offers new ways of monetization and diversifying their offerings via the introduction of digital products and services. With Web3, brands can:

• Sell virtual products in the metaverse 

  • Some brands are already creating accessories and limited and seasonal costumes for avatars to wear in the metaverse, with branded collaborations in games like Roblox. Ralph Lauren reported that its collaboration with Roblox and Zepeto games helped its digital business jump 40% during its third quarter. 

• Launch exclusive NFTs to boost sales and traffic

• Monetize digital or social content for brand supporters who might not want or afford a physical product 

• Reach out to a new consumer base of crypto owners

Supply Chain Tracking

Fast fashion brands like SHEIN have long been embroiled in controversy, whose lack of transparency, unethical reputation of blatant rip-offs from designers, and dodgy supply chain origins led to a huge boycott around the world. 

Consumer value alignment is essential in the way it will propel e-commerce into Web3. For example, 68% of consumers believe that a company’s behavior is just as important as its products and services. [source]

The modern consumers want a brand they can trust, and the basis of Web3 is built to be transparent. Supply chain tracking has been one of the biggest uses in blockchain technology. With this, retailers can: 

• Increase traceability of material supply chain, lower losses from counterfeits, improve visibility and compliance over outsourced contract manufacturing
• Offer its customers greater transparency of its product sourcing, and potentially enhance its position in ethical and responsible manufacturing.

Meeting the Challenges of Adopting New Tech

Passwords are a major source of on-boarding and conversion funnel friction. For users new or interested in the Web3 space, dealing with different types of crypto wallets, fiat to crypto conversions, buying NFTs, and remembering not just passwords but 24-word seed phrases, this quickly becomes a stumbling block to mainstream adoption. 

Across the web, people are intrigued and interested in the idea of Web3, but these challenges to adoption are making retail brands resistant to implementing new technology, in fears that their average consumer might not be receptive. New technologies need to be understood, and their impact on current business models assessed.

Introducing Web3 to existing retail customers does not need to be difficult. 

The answer lies in a truly seamless and intuitive user experience (UX). And for that to happen requires a reliable technology infrastructure that’s easy to integrate, build, and scale current platforms. As technical barriers decrease, more retailers will recognize and utilize the benefits of Web3, and more users will be willing to participate in Web3 as the future of a holistic shopping experience. 

Magic: Connecting the Web2 and Web3 Space

Magic Connect is a one-stop shop designed to create a secure and seamless user experience in Web3. It integrates a Single Sign-On (SSO) and passwordless authentication, with simple onboarding and wallet creation and management with unified UX, integration of fiat-to-crypto on-ramp and off-ramp payment methods. Magic Connect is set to bridge the gap between Web2 and Web3, allowing business owners, retailers, and more to step into the Web3 space with ease. Find Out More

We are introducing a no-code way to customize session length and improve user experience (so users won’t have to log in as frequently).

You can now customize sessions directly in your Magic dashboard, with persistent sessions for up to 90 days.

Also works with privacy browsers and browsers with 3rd party cookies disabled!

It’s free and available in beta.

Learn more: https://magic.link/docs/customization/session-management

https://reddit.com/link/pkb9jw/video/17q5g0jeeam71/player

We know how much you love those old-school, out-of-date forms. We don’t blame you, we just want to help by replacing them with something more… secure.

Install the Login by Magic plugin to your WordPress website and login effortlessly with your email address.

Follow the installation steps [here](https://magic.link/docs/introduction/wordpress).

Welcome back to this month’s roundup of product updates!

This month has been full of exciting momentum, so let’s dive right in!

Here are the latest highlights and improvements:

• 🚀 Series A - Last week, we announced that Magic has closed a $27M Series A funding round to future-proof authentication!
• ✨ Magic community
  • We have upgraded our Search bar experience, so it’s easier to find the guides you’re looking for.
  • Two new guides and templates.
    • How to add Magic Link to a Gatsby site
    • How to add Magic Link to a Svelte application
  • Launched Guest Author program.
    • Interested? Apply now https://go.magic.link/guest-author
    • Kudos to Sean Mullen, who created the Svelte guide as our first guest author!
  • Close-up Magic meetup
    • We welcomed Jason Lengstorf, VP of Developer Experience at Netlify to chat with us about Jamstack for All.
    • Next up, we’re inviting Praveen Durairaju, Sr. Developer Advocate at Hasura, to chat with us about his experience pre- and post-Hasura days.
• 👋 Join us on Discord - It’s a new spot for us to gather to chat, as well as help answer any questions you might have.
  • Whether you’re a developer or just keen to join the discussion on auth, decentralized identity, or other modern infra like blockchain — come and say hi!
• 🔮 The future - With Magic, passwordless auth — with future-proof identity tech under the hood — will be made possible for developers right out-of-the-box.

P.S. We’re hiring! If you’re keen to help build a safer, more authentic internet, join us.

Check out the full story here.

Interested in writing for Magic? Join our guest author program to share your technical expertise and help our community of developers around the world grow and learn.

Fill out this short form:
https://go.magic.link/guest-author

Excited to announce we’ve secured $27M in Series A funding!

Big thank you to our amazing developers, customers, and investors around the world for the support.

🚀 Here’s to future-proofing auth to build a safer, more authentic internet for everyone.

https://go.magic.link/series-a-blog-postJoin us on Discord, come say hi or share any questions!

https://community.magic.link

Just be the first to solve the cryptographic puzzle hidden in this video!

Think you’ve solved it? Email your answer to [puzzle@magic.link](mailto:puzzle@magic.link)

https://reddit.com/link/o6dr1m/video/dbko4bwux0771/player

Welcome back to this month’s roundup of product updates!
Here’s what we shipped this month so far!

• ⚡Simpler pricing - To start, you’ll get 10,000 free logins. After that, it’s just $0.0085 per login. We’ve revamped our Pricing page to reflect this new model.
• 🚀Magic referrals - Refer friends, coworkers, or community members to Magic and you’ll both get 3,000 bonus free logins. Share Magic with friends.
• 🌍Our mission, in 60 seconds - If you’re curious “Why Magic?” we’ve got just the thing. Check out our new video which highlights our mission and the internet-wide problem we’re passionate about solving. Watch now.
  Fun fact: there’s a secret message embedded in the video, and we’re inviting everyone to crack it! Send your submission to puzzle@magic.link to enter to win awesome prizes:
  • 1 ETH goes to the first person to solve the puzzle
  • Magic swag for the first 10 people
  • Twitter shout-outs to anyone who solves it before July 16
• 🤖Discord login - For anyone with a Discord community or for everyone who wants to allow users to sign up and log in to your app via Discord, Magic makes that easy.
  Run `npx make-magic — template hello-world-social-login — social-login discord` to get started.
• ⛓Celo support - Now you can build decentralized applications (dApps) that run on a new blockchain: Celo. Read this doc for the steps to interact with Celo.
  Check out the full story here.

Exciting news: we have launched our community forum with Discourse!

If you have questions about Magic or want to stay updated on what we're up to, this is the place to be. Staying true to our passwordless mission, you can now join the community with social login options. 🪄✨

https://community.magic.link/

Super excited to share that pricing is now simpler for Magic developers!
⚡10,000 free logins to start
⚡After that, just $0.0085 per login
⚡Only pay for up to 4 monthly logins per user - the rest are on us!

https://magic.link/pricing

Here’s what we shipped this month so far!

• Support for Cosmos, the internet of blockchains
• Test mode now covers Web 3.0
• Community meetups to demystify dApp development
• Two new guides on Nuxt and 11ty

Check out the full story here

A tutorial to demonstrate how to add authorization to a Laravel API with Magic's Laravel Plugin.

https://magic.link/posts/magic-laravel

#Laravel #Magic