NFT Liquidity & Aggregation for Marketplaces, Data, & More by Jamie Steinberg

All right. Hey everyone, good to see you. All right, so today we are talking about NFT liquidity and aggregation for marketplaces, data, and more. Let's get started. My name is Jamie Steinberg.

I am currently developer relations manager at Reservoir. I was a freelance web developer and a former music teacher for public schools. I'm an active member of SheFi, Boys Club, She256, and Archive. My socials are available at the bottom. Just heads up at the end of the presentation I'll have a QR code for you to scan so that you can access this entire presentation and it's in it's all the slides.

All right, so don't worry if you're missing some stuff. All right, let's do an introduction. So NFT liquidity and aggregation, what exactly does that mean? Liquidity means accessing asks, listings, bids, offers, and in a perfect world, there's going to be minimal friction. All right?

And then aggregation means pulling all the NFT data either into a database or indexer, things like that. Uh, if you have better aggregation, you're going to have better liquidity. Now, what does that actually mean in the real world? What that really means is if you have aggregated liquidity, you're able to have seller buyers buy from day one and sellers being able to list and having their listings across an ecosystem and not just on one platform. So an easy way to show this is with this chart.

So as you can see you have independent sellers up top kind of like independent storefronts like how eBay has or Amazon but in a web 3 space. And then that goes into an online marketplace could be like OpenC, X2, Y2, things like that. And then it goes down into a search engine which is aggregating all the websites. Now the user/c customer, they can enter in at any data point. Now what does this mean for you?

It's important for your marketplace, your community as a creator to have good liquidity on day one. This is solving that problem of well, I can't get users if I don't have listings. So, if you're able to aggregate across and get that liquidity and harness it, your users are going to be able to buy from day one and start interacting and using that marketplace that you make. All right. And then also, it gives users maximum choice.

So, they don't have to worry about getting the best price if it's showing what is the best price for this NFT at this time. It's also reducing users desire to go to other places. If they can go to one source and everything they need is there then they are more likely to stay there. One of the things that we have found is also you want a unique user experience which we'll get more into a bit later. Now some use cases of using this aggregated liquidity is more than just marketplaces.

You can also make dashboards with historical data, analytics, things like what's the floor price of this collection, what was the floor price six months prior, what can we predict it to be in the future if you're into the DeFi of NFTts. You can also create a unique experience if you're able to have your own custom uh APIs and SDKs in order for that perfect UX for your users. Some examples are listed below and we'll explore some a little bit later. Also, when you make a custom marketplace, like why would there be an option besides OpenC? The biggest thing is for you to control the UX, making sure that it's showcasing your NFTts the way that you want it to be showcased.

It allows you to control fees, referral fees, as well as marketplace fees. And it allows you to control royalties. You can either enforce them so users can't get around of it or you can say, "Hey, I want to create a royalty free platform." Now, today we're going to get started building a marketplace and we're going to be using Reservoir. And you might say, why are we using Reservoir?

Why not something else? One of the things is we offer open-source and forkable protocols, SDKs, UIs, etc. for you to use. And we have a demo marketplace that you can fork and customize so that you can get up and running within 10 minutes. Now, I know the internet is a little spotty here, so I'm not going to have you code alongside, but you will be able to access the presentation and do this on your own time with a stable connection.

So, let's go ahead and move to this slide, which is for questions. I have an air table available. If you scan this QR code and if you have any questions along with this presentation as I move forward, please enter in there. I ask for your email and that's primarily so that I can answer your questions at a later time. There's a chance I won't be able to answer your questions today.

Okay? But I want to make sure that you do not have any burning questions. So if you don't scan it right now, that's okay because you will see that the QR code is available on every slide moving forward. And this QR code is an air table for questions. All right.

Now, in order to get started with this very easy to use V2 marketplace, you're going to need to have a GitHub account and you're going to need to have a Versal account. There's documentation there if you don't have either and don't know what to do, but these are the bare minimums that you'll need in order to get up and running. Some optional things that you might want will be the GitHub desktop application, a source code editor like VS Code, and then also npm or yarn. There's also documentation if you need to know how to install those. Now, we're going to get started.

You're going to fork the GitHub for the marketplace v2. The reason why we are recommending this to use today because there is a V1 in case you were wondering is because there are environmental variables which is going to be easy for you to adjust the code without much knowledge about what's going on deeper in there. It's also multi-chain so you can do Ethereum, Polygon, Gorly and eventually optimism and arbitrum. And also this is actively maintained. So if you run across a bug, please let us know ASAP and we're going to patch it ASAP.

The next step is once you have that Versal account, I recommend doing the single sign on with your GitHub account. It makes it for easy integration. You're going to add new and you're going to do a project. All right. you might need to adjust permissions, but when you go in here, you're going to click the project, click the fork that you want, and then deploy.

So, in about 30 seconds, however long it takes to build, you're going to be up and running with a marketplace that you created instantly. Now, this won't be a custom marketplace. This is just going to be a generalized marketplace with all collections available. So I'm going to talk to you about ways in order to customize it further to show just collections you want etc. Now there are environmental variables and if you click this link it'll take you right to the readme doc in the GitHub and it'll explain each possible environmental variable that there is to deploy.

The first one that I really recommend is an API key. If you have really low traffic then there's a chance that you won't need an API key. But if you start having some users and they're making some calls exploring your website, then you might want to go ahead and get that API key. It is free to create a developer account. And this gives you three API keys and each API key will need to be for its own chain.

You can't use the same API key across multiple chains, but just one chain. So like one for Ethereum, one for Polygon as an example. Now eventually there will be a roll out of a subscription but there will always be a free API key product. The subscription is mainly in order to get higher API calls which protrad people who are making sniping bots. They'll definitely need that cuz they're hitting the endpoint multiple times instantly.

And then also getting prioritized support or custom SLAs's whatever your needs are. All right. So, let's configure that community marketplace. One of the things that you'll see for environment variables is collection set ID. If you go to this link, you'll be able to paste in all the contracts of your collection and it'll shoot out a hash for you to put in and then that's going to be your collection set ID.

So, it's not going to show you all the collections that are available on Ethereum or Polygon, per se, but what it'll do is it'll just be showcasing your collections as a creator. Another option is you can add or remove royalties. So, obviously, this is a hot topic and it is automatically set to true, but there's a chance that you want to create a marketplace that doesn't have royalties. You can set it to false and it will not have anything. If you're wondering where the royalties are being checked on, it's first checked on OpenC and then we check on the royalty registry.

So from there, that's how it's determined how much royalty is going to be paid on an NFT. Next up, once you have your environment variable set, there were a few more that were more advanced that you're welcome to browse. Once you have the ones that you are going to input, what you'll need to do is you're going to go to project settings, environment variable. You're going to put in information in the key and value and then make sure to check mark production preview and deploy uh development and then you'll need to redeploy this. So it's going to look very much like this once you put it in there.

It'll pop up at the bottom of Versal. And if you need help with that, there's documentation at the end of this slide to help you. Some samples that you can play around with. You'll need to get your own API key. So I did not put in my API key for you to use.

And then the next up is collection. So this is the same one from the collection set ID and this is showcasing all the board ape possibilities. So board ape yach club, board ape penna club, things like that. And it'll give you a sample marketplace which I have a link to here and you can check it out. There are also some other configurable elements.

So if you feel comfortable, you can go into the code, you can adjust theme and you can also adjust chain. The easiest way to find that is to go into search repository and put configurable and it'll pop up anything that shows up. There's a chance we could add more configurable options, but for right now, these are the two that are available. Finally, if you want a more custom solution, there are so many other things that you can do. You can get just some barebones APIs.

You can do the SDK. We have a UI kit. There's hooks and then also web sockets are coming out and you can see more in the documentation. If you wanted to get started with the reservoir kit, we did come up with a starter project so that you don't have to worry about that boilerplate dependency. And this is a demo that's going to load video-wise.

And so this will allow you to get started right away with the reservoir kit and play around and not have to worry about trying to get it just like up and running on the computer, but you can like dive right in. So you're welcome to explore that once you get a copy of the presentation. Now let's talk about some sample marketplaces. So I mentioned that it's important to have a unique experience for your users. If you have a copycat of a major marketplace such as OpenC X2Y2 and you don't have tons of free tokens to drop to people, i.

e. Blur, then it's a good idea to create that unique experience for your users. Now, I have a few that are built on top of Reservoir and each is unique in their own right. and I'll kind of walk through on how they're unique and how it's how it's going to give you an idea in order what to offer your users as you create your marketplace. So, let's go ahead and get started.

The first one I have is ArtBlocks. You probably know of Artblocks. One of the reasons why they created their own marketplace for people to use is they are enforcing all royalties. This is really important to their community and to them as creators. So, what they've done is they've created a unique experience by being able to like go through and explore collections, go through and explore artists, and really get some more in-depth information that you wouldn't otherwise get from OpenC.

And then also that royalty enforcement at the end as people check out. Another marketplace that I have up here is ENS vision. So when you have an ENS handle, it's it's hard to explore in OpenC because it's mainly just like a bunch of icons and it doesn't give you much and it's hard to discover them. So one of the things that ENS vision has done is they've created a unique experience where it's easier easier to have more discoverability as well as their own unique categories. And so this allows people an opportunity to explore different ENS handles that they might want to buy and or put up for sale.

Now before we go to the next one, I will say that there's some reverse aggregation going on. So Reservoir aggregates from all the marketplaces into these APIs that you can use or the marketplace. But what's starting to happen now is we're getting re-agregated out. So in a utopia for NFT marketplaces, the goal would be for a user to be able to post to one marketplace and have it distributed across the ecosystem. So art blocks, actually technically it's Sansa, Sansa, ENS vision, and then also Sound XYZ.

So Sansza, ENS vision, sound XYZ, they're actually being reagggregated back to OpenC. So if you post anything on ENS vision, it's actually going to cross-ost that listing onto OpenC and then that way you're getting more liquidity and a wider reach in order to get more NFTts sold. All right, so here's Sound XYZ. It's a unique experience because obviously these are songs and they also have a reward system so that you can have more interactions with the artists. custom token gated Discord servers, things of that nature.

So, they're offering something that's different from the standard experience that you would get on a generic horizontal marketplace. So, that's a unique experience. And then finally, the last one that I have to show is Forgotten Ruins. So, there's a lot of lore that's been created by the community for these NFTts that go along with the game. And if they had it on OpenC or if you see it on other marketplaces, you're not going to see that lore that goes with it.

So the biggest thing is they created their own custom experience so that their users could like see the lore, contribute, etc., etc., so that the community has more togetherness through their marketplace. All right. If you feel like, okay, we did the simple marketplace, but these demos that you just showed me were really dope, but I don't know if my dev skills meet that.

There are some people that you can reach out and they can get you started for that custom market experience for your community. I listed them here and it'll take you to their website and you can reach out to them and kind of get going from there. We have Snag, First Mate, Mobo, and Perkshop. no particular order, but these are some that our users use. And if you need more resources, you can check it out here.

I put the documentation. If you run into technical support needs, you're welcome to message us on intercom and we'll help get you past whatever errors that you're reaching. And then also, I mentioned analytics. So, we have Dune dashboards that you can see. It covers major marketplaces.

It also covers minor marketplaces. One of the great things is if you start building on reservoir, it'll get put into these Dune analytics and other people will be able to access them as we have some people using this information in order to make their own graphs etc etc. All right. And then finally here is the QR code for the presentation. So if you want to access this presentation at a later time, you want to go through it on your own time, etc.

, this is the QR code to scan or if you don't feel comfortable with QR codes, I did put the bit.ly up top so you can also take note of that. Uh, and I really appreciate everyone coming. So in a moment, I'm going to go to the last slide. I'm going to hang on to this slide just a little bit longer.

But on the last slide, we're actually going to do a kudos. So mint kudos, I don't know if you've heard of it. similar to POAP and they're soulbound NFTTS and so for your coming to this talk today you're going to be able to mint your own kudos and it's going to show up in your wallet and say that you're building with Reservoir which is pretty cool. Um yeah so that is what I have for you today. Are there any questions right now that people feel comfortable asking?

All right, thank you so much. I'll go ahead and go to this last slide. So, if you would like to go ahead and get a Kudos NFT, they're minted on Polygon. Go ahead and scan that. Um, yeah.

And if you scan the presentation and you're within the presentation, you can also go to the bottom slide. All right. Like I said, if you ask any questions on that Air Table, drop in your email and I'll get back to you. And thank you so much for having me and enjoy building a marketplace for your NFTts. [Music]