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Redesigning a Trustworthy Trading Platform: The Application with NFTs and Its Individual Investors
Proceedings of International Conference on Humanities, Social and Education Sciences - 2022
You Ming Chen
Dr. Omid Noroozi, Dr. Ismail Sahin
978-1-952092-33-6
170-177
User experience is a very important element of platform design. Its framework and development process has been developed in academia and industry for more than twenty years. The development of digital finance has been accompanied by the emergence of blockchain, and various platform services have also appeared in the cryptocurrency market. Among them, the non-fungible token (NFT) market in the past two years is growing fast. It used blockchain technology to mint a digital file (including pictures, videos, 3D models, etc., game props...) into non-fungible tokens (NFTs), use coding to prove the ownership of digital assets, and develop a trading platform and conduct transactions. Starting from the user experience, the importance of users' trust in the platform is rising. By literature review, I found out that many pieces of literature do research about trust, but most of them are quantitative research, there is still no relevant research based on a user experience perspective. NFT platform as a startup platform has only 3 years of history, in the high volatility, risky NFT market, individual investors who have no experience in the investment market are more at a loss. In emerging cryptocurrency platforms, the user’s trust in the platform is a particularly important element. This research tries to take the trust in the user experience especially “trust” as the core of research design. The research will use a pre-survey to investigate NFT buyers first, then do user research on the biggest secondary NFT trading platform “Opensea” as user testing and user interview field, to know how much trust that user wants to give to the platform. After user studies, I will design a new NFT trading prototype with UX design software Figma, and make design suggestions to enhance users’ “trust” for those teams who want to develop crypto-related platform services.
Chen, Y. M. (2022). Redesigning a Trustworthy Trading Platform: The Application with NFTs and Its Individual Investors. In O. Noroozi & I. Sahin (Eds.), Proceedings of IHSES 2022-- International Conference on Humanities, Social and Education Sciences (pp. 170-177), Los Angeles, USA. ISTES Organization.
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