Bethsaida.xyz — NFT Marketplaces are making moves! 🏃🏃🏃 Aggregation Platforms are what's next!
Part Two on What We Know, the Dope Idea, and the Brand Execution.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
** DM sessions & brainstorms? ☝️ >> Join our new Twitter! 👍
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* NFT Marketplaces + Aggregation Platforms 🔥
** Catchup on all our research & findings in Part One here:
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ Uniswap takes aim at Coinbase & Binance! ]
- thanks liam!
Uniswap wants to "bring your digital asset experience into one place." Uniswap Diamond, and the acquisition of NFT aggregator Genie, will help.
Of all volumes across all DEX platforms, Uniswap currently commands 60% of the market, according to DeFi Llama. Uniswap is quite clearly the dominant platform, but only in DeFi.
In June, Uniswap Labs bought NFT aggregator Genie. Now the reason why is becoming clearer.
"We were really excited about NFTs as a growth sector to get more people into crypto, to get more people to swap tokens," Lader said. "It made a lot of sense to us, from a market structure perspective, that Uniswap would help create an experience where you can buy and sell any digital asset you might have. So you can buy and sell NFTs on OpenSea, but starting later this fall—I don't want to say exactly when—you'll be able to buy and sell NFTs on Uniswap from a number of different marketplaces. Our hope is that that brings your digital asset experience into one place, one stop."
Of course, centralized exchanges like Binance, Coinbase, and Kraken have also jumped into NFTs as well as a growth area.
THE DOPE IDEA:
* Distilling the market indicators & consumer tailwinds into a dope idea.
It’s simple — in a winner take all scenario — the quickest way to scale is to grow by way of making smart acquisitions.
And in the world of NFT Marketplaces, that battle is now being fought in the aggregation space.
Why is aggregation important in the context of web3 platforms?
Platforms like Uniswap are understood as a place to swap a wide variety of tokens — by acquiring a platform like Genie, brings non-fungible tokens (NFTs) into the mix. Genie gives users access to the library of NFTs that are widely available across multiple marketplaces, and makes trading those NFTs across platforms super easy.
In short, aggregation platforms allow marketplaces, crypto exchanges, and the like to very quickly expand into the NFT vertical, and add value to their overall offering.
So while a Uniswap can go to war with the likes of a Coinbase or a Binance, what is an upstart left to do?
Go narrow. Go niche. And lean in hard.
The play here is to create immediate value for a specific community by starting what we are labeling a micro-aggregator.
For example, if you’re a soccer fan, aggregate all the soccer NFTs from across all the NFT Marketplace platforms — soccer fans are global, and dare we say, even fanatical?!
Love “Ape” NFTs — then pull from every other NFT ape collection — everything from BAYC to Degenerate Ape Academy.
F1 Racing anyone? Do that!
You get the picture.
Pick an interest vertical. Make sure it has a die-hard community. Then own it!
THE BRAND EXECUTION:
* Taking the idea & amplifying that into tactical action. Development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.
Etymology, Insights, and Cultural Inspo behind the naming.
So why the name Bethsaida?
We went looking into the history books for this one — to research, and to find if in fact there was actually any record of a “first” 5K or 10K drop of anything.
And this is what we discovered.
In Chapter 9, in the Book of Luke of the New Testament, Jesus miraculously feeds the five thousand at Bethsaida.
10 On their return the apostles told Jesus all they had done. Then, taking them along, he slipped quietly into a city called Bethsaida. 11 When the crowds found out about it, they followed him, and he welcomed them and spoke to them about the kingdom of God and healed those who needed to be cured.
14 For there were about five thousand men. And he said to his disciples, “Have them sit down in groups of about fifty each.” 15 They did so and had them all sit down. 16 And taking the five loaves and the two fish, he looked up to heaven and blessed and broke them and gave them to the disciples to set before the crowd. 17 And all ate and were filled, and what was left over was gathered up, twelve baskets of broken pieces.
We’re calling this the first 5K DROP, per recorded history — it’s as simple as that.
Check out Bethsaida here!
SEE YOU ON TWITTER:
* If you liked today’s drop, share this newsletter & follow us on Twitter!
** Thank you 3000! 🤟
* Like working on ideas like this? Let us know! 🍻
** Email us at: venture@5dollarVC.
* If you liked today’s drop, forward this newsletter to someone. Thank you 3000! 🤟
$5.vc is a concierge advisory service of product, marketing, and branding strategists specialized in naming & brand development, product market fit, GTM strategy, growth & retention modeling, and new market segmentation.
We work with a limited number of clients at a time to ensure the highest quality of work. Please fill out our Advisory Services Typeform, and our team will be in touch as soon as possible.
DOMAINS FOR SALE?
Yes, please use the Sales Inquiry form below. Any negotiated sale typically includes the transfer of domain, and any agreed upon advisory services from $5.vc. To get in touch, please fill out our Sales Inquiry Typeform.
Copyright © 2022 $5.vc - All Rights Reserved.
$5.vc is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.