Hive - NFT Music Marketplace

Summary:

The mission for this capstone project was to design an NFT Music product that allows users to stream music and purchase NFTs from their favorite artists.

Duration:

2 months

My role:

UX/UI Designer, UX Researcher

Sectors:

Music, SaaS, Blockchain

Final Prototype

Defining The Problem

Brief:

Hive is a music marketplace designed to make discovering and investing in NFT music seamless and intuitive.

Research Method:

Competitive Analysis, User Interviews, Usability Testing

Results:

We carried out five user interviews and usability evaluations on the initial Hive MVP and performed a comprehensive competitive assessment of 5 major competitors.

Defining The MVP

Key Opportunity 1

NFT Music Platforms were gaining traction during that period among renowned musicians such as Snoop Dogg, Eminem, Shawn Mendes, Steve Aoki, Grimes, and numerous others.

Key Opportunity 2

A significant portion of the income produced by a song is initially distributed to record labels and agents, with artists receiving their share later.

Hive has the potential to grant artists a greater percentage of their earnings, bypassing the requirement for intermediaries.

Key Opportunity 3

Hive could create revenue by taking a service fee off the top of NFT sales, not unlike other NFT marketplace competitors.

Key Opportunity 4

Most NFT marketplace competitors transact between $1 - $25 billion yearly trading volume.

Design Process

After identifying key opportunities and defining our MVP, we began working in 2-week design sprints, breaking it into distinct phases: design exploration, testing, and design polish.