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Nov 17, 2022

Transacting 2.0

Jack Burt
Jack Burt

Writer

Over at Flip, we’ve worked hard to identify how we can make the best transaction experience on the market. We’ve tested our ideas internally – and chatted with quite a few Flippers – and today is the first launch of these big changes.

We asked: What’s the most relevant information to show? How can we organize/visualize that information best? And then – once you're ready to act on that information – how do we make it delightful to follow through with the purchase?

Buying NFTs is a three way experience: Execution, Discovery, Monitoring. We’re aiming to serve these three purposes in everything we do.

Our all new purchasing experience and new collection pages are a big Step 1.

Let’s dig into some of the details, or feel free to see for yourself at Flip.xyz.

Starting with the changes we made to the execution layer: that meant simplifying things, like allowing you to add a listed item to your cart by simply clicking on it, or if you want to add a ton of items, you can now sweep a collection across multiple exchanges (Opensea, LooksRare, and X2Y2 for now)!

Flip Sweeping Tool

What's more, we’ve reworked the entire checkout experience to make it faster and much more accessible. Yep, your cart is now a widget that can be collapsed or opened from anywhere on Flip via the cart bubble in the right-hand corner of your screen.

Flip Cart

As for the information end of things: we’ve changed up the collections home page to give you, what we believe, will be the most actionable metrics – ditching some of the less relevant columns while combining some of our favorites into more data-rich metrics like ‘Velocity’ and ‘Holders’.

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‘Velocity’ tells you the number of listings versus the amount of NFTs bought from a collection within the past 24 hours, as well as a calculation underneath to tell you how many times the current listings could sell through in that period – this should give you an idea of the supply/demand balance for a specific collection.

And ‘Holders’ shows you the total # of unique holders as well as the unique holders / total assets percentage- giving you a gauge for the relative distribution of a collection’s items and whether or not that distribution is healthy given its overall supply.

For individual collections, we’ve added some sleek data-rich visualizations to our collection drawer and collection summary page.

Flip Collection Drawer

It took a lot of experimentation to get these just right, and so we’re proud of the new visuals for supply/demand, volume, holders, and floor depth (which, should be super helpful paired with our newly integrated sweeping capabilities).

Flip Collection Summary Page

Looking Forward

We’re excited to see what y’all can do with the combination of our discovery and transaction experience capabilities. Perhaps, some of you who honed your sweeping skills in Fantasy Flip, will be ready to test those strategies for real!

And, as always, if you've got suggestions for how we can make Flip even sweeter, don't hesitate to drop us a message on Twitter or by email.

Happy Flipping,

The Flip Team

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