Collaboration between NFT Marketplace and Minting, Security Printing & ID Card Operating Corp,
The collaboration between the NFT Marketplace and the Minting, security printing & ID card operating corporation is a unique marketplace where you can not only purchase digital NFTs online but also purchase genuine gold NFTs provided by the Korea Minting and Minting Corporation. Gold NFTs can be exchanged directly for physical goods, and owned NFTs can be sold by customers themselves.
Overview
Background
NFT, which stands for Non-fungible token, is a technology that can be used to represent the originality and ownership of digital files using a blockchain.
NFTs can guarantee uniqueness and reliability with characteristics that cannot be forged or tampered with. Currently, it is widely used in digital artworks, etc.
The representative item is a utility NFT that combines OmniOne blockchain technology with Korea Minting and Security Corporation's gold products.
Korea Minting & Security Corporation issues NFTs that can be exchanged for real gold through OmniOne's blockchain technology. You can conveniently trade and safely own gold, an essential safe asset, as an NFT that can't be counterfeited or altered.
My role
My role was as the design lead for this project. I provided UX design support and produced UI concept design and system design.
Goal
The goal for the Gold NFT homepage design is to create a visually appealing and user-friendly interface that effectively communicates the benefits and features of the Gold NFT platform. It should drive user engagement, encourage user registrations, and ultimately increase transaction volume on the platform. The design should also focus on building brand awareness and credibility, highlighting the integration of Omnione blockchain technology and the partnership with and Minting, security printing & ID card operating coperation.
discovery
Market Research
Learning is a non-linear process. Throughout the project, I conducted market and competitive research to understand the needs and gaps of this growing space. I also initiated multiple stakeholder interviews to ensure I could meet my client’s business requirements.
My research process involved the following:
Define objectives & plan
Outline hypotheses & assumptions
Select methods to fill gaps in knowledge
Conduct research and gather data
Synthesize finding
Talking to Prospective Customers
To gather more qualitative data about our potential user's motivations, pain points, and needs, I interviewed 30 locals who lived and worked in Gangnam. These participants all had experience ordering NFT online, and fall under my client’s target customer demographic of young professionals. I wanted to answer the question:
What would a customer need from a site for an online-only establishment?
“The most important thing for me is transparency. I want to know that the NFTs I'm buying are authentic and that the transactions are secure. I also want the platform to be user-friendly, with a simple interface that makes it easy to find and purchase NFTs.”— K.
“It would be helpful to have a wide range of NFTs available, including both digital collectibles and Gold NFTs. I'd also like to see educational resources that help me understand the value and potential of these NFTs. And of course, good customer support is essential in case I have any questions or issues.”— L.
“Mobile compatibility is definitely important to me. I want to be able to access the marketplace from my phone or tablet, so I can manage my NFTs on the go.”— M.
Competitive Analysis
I summarized the pros, cons, and features of the interfaces of websites which famous for digital NFTs. furthermore, I compared and analyzed it with our goal to ensure that it is easy to use and can be tailored to the intended use.
INSIGHTS AND ISSUES
By addressing these needs, a Gold NFT and digital NFT marketplace online site can attract and retain customers, fostering a vibrant and engaged community of NFT enthusiasts and investors.
Transparency and Security: Customers would want assurance that transactions are secure and transparent, especially when dealing with valuable assets like gold. They would look for information on how their assets are stored, verified, and protected on the platform.
User-Friendly Interface: Customers would expect a user-friendly interface that makes it easy to browse, buy, and sell NFTs. This includes clear navigation, intuitive search features, and a streamlined purchasing process.
Range of Offerings: Customers would seek a wide range of NFT offerings, including both digital collectibles and Gold NFTs. They would want access to a diverse marketplace that caters to different interests and investment preferences.
Integration with Blockchain Technology: Customers would expect the platform to leverage blockchain technology for authenticity, ownership verification, and secure transactions. They would want to see how the platform utilizes blockchain to enhance their NFT experience.
Community and Support: Customers would value a strong community around the platform, including forums, blogs, and social media channels. They would also expect responsive customer support to address any issues or questions they may have.
Educational Resources: Customers would appreciate educational resources that help them understand NFTs, blockchain technology, and the benefits of investing in Gold NFTs. This could include articles, videos, and tutorials.
Mobile Compatibility: Customers would expect the platform to be accessible on mobile devices, allowing them to buy, sell, and manage their NFTs on the go.
scenarios
define features
We’d organized some conditions to setting up users for Gold NFT Marketplace.
User Registration: Users should be able to register on the Gold NFT platform. This may involve providing an email address, creating a password, and agreeing to terms and conditions.
Verification: Since Gold NFT involves the use of real-world assets (gold), you may need to verify users' identities to comply with Know Your Customer and Anti-Money Laundering regulations. This could include verifying government-issued IDs, proof of address, and other relevant documents.
Purchase Process: Users should be able to purchase Gold NFT tokens using fiat currency or other cryptocurrencies. This process should be secure and user-friendly.
Token Distribution: Once a user has purchased Gold NFT tokens, they should receive the tokens in their digital wallet. This transaction should be recorded on the blockchain for transparency and security.
Asset Redemption: Users should be able to redeem their Gold NFT tokens for physical gold products from Korea Minting and Minting Corporation. This process should be clearly defined and easy to execute.
Security and Compliance: Throughout the process, it's important to ensure that user data is protected and that the platform complies with relevant laws and regulations.
User Support: Provide users with support in case they encounter any issues or have questions about using the Gold NFT platform.
Cloud Wallet: Wallet Creation: Users will need to create a digital wallet to store their Gold NFT tokens. This wallet should be compatible with the OmniOne blockchain technology used by Gold NFT.
STRUCTURE plan
INFORMATION ARCHITECTURE
wireframing
Iteration Learnings
With each iteration, I synthesized feedback by plotting and categorizing issues on an affinity map. This helped me make design improvements based on user patterns and key pain points.
Some key insights:
Sign Up was taking too much effort to get in early iterations.
Inconvenient to install the Omnione app.
It was too much information in In a menu view tab.
Design elements needed to convey clear action but offer user flexibility
Wireframe designs were iterated upon through usability testing and client feedback, with each iteration improving on design choices and visual hierarchy. Testing was conducted remotely with local Seoul participants over Zoom. I was able to observe participants’ interactions and had them “think aloud” as they navigated through a prototype.
INTERFACE concept
In our research of competitor homepage designs, we found that a clean design focusing on product images worked best. We started by designing the main homepage, product detail page, and marketplace page to establish a design concept. Our goal was to prioritize key functions on the main page. I created a simple prototype to demonstrate the flow, then refined the design concept before developing the design system.
DESIGN system
I also provided resources and guidelines for team members, including kits, banner guides, typography, and color palettes. I considered the brand's color scheme and developed a color palette and contrast guide to ensure colors and fonts are visually appealing and accessible.
The final design reflects the company's brand colors, with the background changed from black to white. The main banner and featured product showcase Gold NFTs, with digital NFTs also highlighted.
REFINEMENT
Challenges Ahead
After launching the beta version, our focus shifted to iterating and improving the platform. Our remaining tasks include:
Simplifying membership registration by reducing the complexity of the registration page.
Creating a detailed guide on how to use the service effectively.
Developing a persuasive page that highlights the benefits of installing the app.
Develop a web app version as well.
Personal Learnings
1) Flexibility in Design: NFT Marketplace presented a unique challenge where design work began before firm business planning. I gained valuable experience in adapting to evolving requirements and creating visual branding without predefined assets. Witnessing our website solution evolve from scratch was incredibly rewarding.
2) Effective Client Communication: Managing a significant time zone difference with the project was unexpectedly challenging. I learned to prioritize efficient communication and scheduling.
3) Goal Alignment and Communication: In instances where our team, our boss, and even client experienced confusion, I identified that it often stemmed from misaligned expectations. To address this, we focused on realigning goals and revisiting key aspects such as business needs, development considerations, and customer insights. This process helped ensure everyone was on the same page. Additionally, our client found it beneficial to gain insights into user needs, which highlighted human-centered aspects not initially considered during business planning.