Do any other founders get too design-focused within their product development?
Many times I find myself spending a little more time within Figma; being one of the 1st three applications in my tab switcher (cmd+tab) along with Excel and Slack. I consider myself UX-obsessed creative but struggle to solve this equation with a non-existent formula.
The Hypothesis
Can we develop a platform? Yes. A brand that can serve as a conduit between two electrifying industries? Ah. Well, our primary goal this year is to develop data that can prove how much street art affects real estate development.
What I want to build is…” an experience.”
Wait…
I feel like I’ve heard this in every Shark Tank episode…hear me out. For a marketplace like this, in 2022, no one has developed any prop-tech for creatives, also no one has made street art, tech-y. How does street/public art affect real estate values? There are currently few numbers to solve an algorithm like this, and to make this even tougher, how DO you solve something like this — right? Hedonic pricing models?
How can we show real estate operators how their up-and-coming developments will affect the landscape OUTSIDE the walls and beyond their lot lines?
What do we need to increase the number of transactions to gather this data?
Transparency
Both sides of this transaction should be fair and transparent. For there to be transparency, there needs to be a medium to provide it. What’s clearer to see through — glass or a one-sided mirror? Building a platform where both sides of this transaction are able to see important values and understand components, is going to provide a level of understanding. And if you ask me, this is one popular transaction (over 900+ annually) that people stop to stare at, take photos of or use as a landmark in their “New Post”. Every real estate operator wants that kind of foot traffic, even if they deny it when you ask them.
Our demonstrations went from “well…when you have this done…”, to “ok, now you have my attention.”
When creating this, how can we draw you in with “an experience”? Well, each offering page (artist landing page, wall listing) should provide as much relevant data to allow the user to make a faster decision and reduce the time to complete this transaction. One thing I learned in my years in brokering deals is that — time kills all deals. The owner spending $25k on some art wants this to be a smooth experience for something that involves so many moving parts.
Why now?
We’re constantly outside. We’re in our own heads, thinking, walking, talking. Art provokes thought. It keeps me creative and we have to keep circulating it. Prop-tech is an emerging industry at around $8.9B. There have been roughly 5–7 cities that have incorporated “mural art festivals” and I have spoken to about 6 business improvement districts that have greenlit an art betterment program in 2021. It’s evolving, so we should be there for that evolution.
If you’ve connected with this or want to see what I am building in public, check out wxllspace.com or follow me on Twitter @wxll.space 💣