The Future of NFT Marketplaces: Pioneering a New Business Model with MOOAR

6 min readNov 3, 2022

Why are you charging a monthly fee?
What differentiates your marketplace from others?
Why can’t you use a free model?

These are all questions we have received countless times from community members since the launch of MOOAR. We want to address these questions head on because we get it — upfront fees may seem at odds with Web3. At MOOAR, we believe transparency is paramount. Unlike many marketplaces who profit from hidden platform costs, we operate on a 0% service fee model.

Let’s look at an example: If you trade a Bored Ape Yacht Club (BAYC) NFT for 60ETH at a marketplace that charges 2% platform fees, the fee alone would cover 5 years of MOOAR membership.

The team at Find Satoshi Lab behind MOOAR has a wide breadth of experience in product development and we have used this knowledge to create a unique business model responding to the turmoil and instability within the NFT space. We believe our platform is truly revolutionary, as it will create an equilibrium between creators through royalties and our launchpad and traders who will feel the benefits of 0% service fees; thus creating a sustainable NFT ecosystem to guide us through the current bear market.

Still don’t believe us? In this article, we will talk you through the logic and strategy behind this decision, and why we are confident this model has huge potential to set a major precedent for the NFT space moving forward.

Let’s go back to basics, what are memberships?

Memberships go by many names.

Loyalty programs, subscription schemes, the list goes on. The end goal of such initiatives are to align users with your brand, doubling up as a customer retention scheme and amplifying future marketing actions by the company. For example, Spotify classifies their paying users as Premium Users, giving them a sense of exclusivity as a valued customer, while simultaneously boosting long-term brand loyalty and quarterly profits.

Let’s take a look at some popular household brands that offer such memberships:

Starbucks: Dubbed the Starbucks Rewards Program, Starbucks was one of the first businesses to pilot and pioneer the membership model. The concept is simple, download the app, spend and accrue points, then use points to redeem rewards. Starbucks have now accrued one of the largest membership bases in the world and with the data they collect from the app, they can create targeted promotions for their users.

Sephora: Sephora’s Beauty Insider Loyalty program has over 25 million members, making up almost 80% of their annual sales. While they offer a plain vanilla point system, that in itself lies the beauty of it (no pun intended).

Sephora is undoubtedly pricey, probably even pricier than most of its competitors. By getting customers to sign up for a free membership, and letting them offset some of the cost with points, it turns customers into loyalists — getting things at the same price as competitors but giving customers the prestige and bragging rights of shopping at Sephora, a highly established multinational chain.

Paid-subscriptions

…Okay but these are all free memberships. What about paid ones? Did you know that some of the most successful membership programs available are subscription-based?

When we think of paid memberships, the first thing that comes to mind are exclusive clubs. It’s not wrong of course, memberships have usually been associated with an air of exclusivity for the holder. This is exactly what paid memberships are. Ultra premier country or golf club memberships can reach mind-boggling numbers for sign up alone.

It doesn’t always have to be fancy country club memberships though, let’s look at some day-to-day brands that have had huge success offering a paid-subscription scheme.

Amazon Prime: Who hasn’t heard of Amazon Prime? What started out in 2005 as a free-shipping program, has now transformed into a full suite of services for members:

Prime Video (Video Streaming Service), Prime Music (Music Streaming Service), early access to deals, and much more.

The statistics are even more shocking. In 2020, 200 million people subscribed to Amazon Prime and in 2021, the prime membership generated Amazon a total of USD $31.77 Billion in subscription fees alone.

Spotify: Another household name, Spotify has been around for years, before getting listed in recent years, showing its ever growing and expanding business. Hailing from Sweden, they are a music-streaming platform, boasting well over 170 million users, of which at least half are paid subscribers, which entitle users to ad-free music and offline listening.

What relevance does this have to do with MOOAR’s membership? Well, the point we are driving here is this — people are willing to pay, no matter how small or large the amount, to be associated with a network of esteemed individuals, to obtain exclusivity and feel special. This is the spirit which MOOAR intends to mirror in our subscriptions.

The driving force behind our decision

At Find Satoshi Lab we strive to create products that combine key elements of Web2 and Web3 to create something truly unique. By combining the success of the membership model in Web2 with the transparency in Web3 we believe that we cracked the formula.

We want to give back to the community, change the status quo of the NFT industry, and create a holistic ecosystem to empower not only creators, but also users. Afterall, users are the backbone of the NFT community, and we want it to stay that way. By utilising a subscription model, we are able to pass the cost savings over to users, MOOAR remains to be the first few of many products that will make up the FSL ecosystem.

In fact, if you compare our subscription costs to other marketplaces, it really is quite competitive, let’s break it down.

Let’s assume you trade an average of $3,000 of NFTs every month (about 107 SOL at current prices):

Subscription fee for MOOAR: $29.90 (Fixed)
Transaction fee [2%]* on Magic Eden: $60 (Without fee waiver)
Transaction fee [1%]* on Yawww: $30 (Without perks)

*Average calculation as of 3rd November 2022

Of course, these amounts fluctuate based on your trading volume, but numbers speak for themselves. This hasn’t even factored in the free months of membership that many of you will receive.

How the MOOAR subscription works

MOOAR is a member-only platform, with subscriptions being a flat USD $29.90/month.

Benefits
- Access to a premier marketplace
- Access to exclusive launchpad offerings and voting
- 0% Transaction fees
- Level and Loyalty Rewards

Through the subscription, users will be granted access to an exclusive community of traders and more importantly, enrol into the FSL Ecosystem, which consists of other major products like STEPN. You can read more about membership benefits in the MOOAR Litepaper.

With loyalty and level rewards, the act of trading is gamified and turned into a full holistic experience. As users trade more, they are given level rewards and perks that will eventually translate into a part of their digital identity, allowing them to be recognised for their actions, be it as a sharp trader, an avid collector or just a straight-up whale.

Ending Note

The NFT marketplace industry is extremely competitive — there is no denying that. We are all fighting for the same slice of pie, and undercutting each other may work initially, but in the long run, a sustainable solution is the real way to capture the hearts of the ecosystem.

We believe we are heading right in that direction to create a sustainable NFT ecosystem that benefits both creators and traders alike. You have our word, that we will innovate relentlessly, and listen passionately, to make MOOAR a top-tier marketplace.