Being stuck within the Groups system was constraining, and most users had trouble discovering groups, joining them, and finding items. This meant that we faced the twin marketplace issues of limited seller liquidity and difficult buyer discovery. Buyers told us in research studies that they couldn’t find the items they wanted, and sellers felt that... See more

With a permissionless approach to creation, a huge number of assets on the platform, and a strong filtering system, it looks like a business encircled by subtle but significant moats.