V. Competitive Analysis

Competitor 1
[Competitor 1] is a peer-to-peer marketplace for non-fungible tokens or NFTs. Its application for NFTs includes collectibles, gaming items, domain names, digital art, and many other items backed by a blockchain. The company is an open, inclusive web platform where anyone can come to explore NFTs and can connect with each other to purchase and sell NFTs.

Competitor 2
[Competitor 2] is a marketplace for collecting and trading single-edition digital artworks. Each artwork is authentically produced by a member of the network, and it is tokenized as a crypto-collectible digital object that anybody may buy, sell, and possess. The company is known for making it simple to list new NFTs, selecting their selling prices, and selling new NFTs swiftly.

Competitor 3
[Location Name]-Based [Competitor 3] is a comprehensive platform that was established with the goal of making NFTs available to everyone. The company collaborates with renowned brands and artists to produce collections of NFTs in limited quantities that are only accessible through its website. [Competitor 3] makes money from royalties that are charged as a percentage of every sale made on their marketplace. 

Strengths

• A diverse range of assets.
• In an effort to make the platform far more appealing, the company, like the majority of its rivals, has abolished Ethereum gas fees for its users.
• The Company, unlike its competitors, maintains a service fee or minting fee charge of 2.5%, which gives it the needed edge to remain in the undisputed marketplace for digital assets.
• Characteristics like Collection Manager with zero gas fees, and the introduction of new attributes, will set it aside from the company's competitors while ensuring that it retains its number one title.

Weakness

• Being new to the industry could lead to a significant lag in establishing goodwill and trust.

Opportunities

• With the current hike in NFT and Metaverse stocks and demand, and with more games incorporating NFTs into gameplay, the market is increasingly demanding an effective asset marketplace with a low barrier to entry.
• The surge in demand for digital artwork is anticipated to boost the growth of the non-fungible tokens (NFT) market in the coming years.

Threats

• With the foundation of new marketplaces, a new wave of rivalry and competition is set to begin in the digital assets ecosystem.