NFT Indexes & Platform
Platform
Web3
Company
Roles
Forkast Labs
Product Designer
Industry
Product
Context
Forkast Labs developed a set of NFT market-capitalization-weighted indexes, similar to that of the DOW Jones and S&P 500.
Our goal was to build professional tools that would appeal to traditional investors while seamlessly integrating into the Web3 virtual asset ecosystem.
Our north start objective was to increase Forkast Lab’s data adoption.
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When I joined Forkast Labs, the company was in a rapid defining and launch phase. Forkast.News had just merged with an NFT data company called CryptoSlam and had to define the product and mission within a month. I led the creative initiative as the sole product designer, and was tasked with developing the brand, index product, and landing page.
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Forkast Labs is a global data, media, and web3-infrastructure company founded in 2023 through the merger of CryptoSlam and Forkast.News, both established in 2018.
The company’s purpose is to meticulously index the decentralized web, diligently organizing its abundant multi-chain data to enhance its usefulness through creative UI, empowering countless individuals to seamlessly join the thriving digital economy.
The Challenge
How might we design a Web3 Index for both Web3 and Non-Web3 Users?
Final Designs
Discovery
Following 2022, Web3 assets became less than ideal for retail and institutional investors.
Existing problems:
Negative sentiment around web3 assets and platforms
Limited data available to support investment decisions
Difficult to gauge market health and activity
I conducted market research on current tools incorporated into daily trading routines.
I researched the investment cycle, and learned how institutional investors pitch assets.
Investment Policy Statement Creation
Market and Economic Analysis
Asset Selection
Investment Decision
And learned more about investor sentiment around adding web3 assets to portfolios.
“The high risk nature of cryptocurrency plus the lack of regulatory clarity keeps many banks and credit unions away””
“This is a fast-moving market, and it’s hard to know where it will go,””
Research
I conducted concept testing with users who utilized data in their workflows.
Key Learnings
4 participants
User Research
(2) NFT traders
NFT Collector
News Writer
In-depth interview + concept testing
(1-hour sessions)
While users understood the purpose of the indexes, they needed more guidance on how to use and apply the product in their day-to-day
Users need more granular data to inform their trading decisions in addition to high level indexes
Users are looking for an all-in-one platform to find contextual data
Design Solutions
I designed a NFT data tool that would seamlessly fit into user’s work streams and provide meaningful data in one platform.
Based on the findings, I began refining the designs to better address the user’s problems.
Top 5 NFT Movers (up and down) to provide context around what’s moving the needle
Index tickers for easy comparison across different chains, and ways to move laterally across the available indexes
Comprehensive standard index data
CSV download for pro users who want to break out the data and build their own models
Embeddable widgets to have the ability to track digital assets from any website
Designed and shipped Forkast Lab’s flagship product
We received an estimated total of 871k impressions, and were featured on news outlets like Axios, Yahoo Finance, and South China Morning Post.
Impact
What’s Next?
Implement informational use-cases to better educate users on how they might utilize the indexes
Dig deeper into value proposition of indexes through user interviews and performance evaluation
Track specific metrics: engagement with tools, bounce rate, and waitlist sign-ups
Add tables of included NFTs in index pages