Our marketplace for NFTs aims to have 4 key features: 1) Low Transaction Fees: With the recent increase in value of NFTs, the transaction fees can come down. Our SmartContracts will only charge a total fee of 0.5% of the final sale price. 2) Native Token Rewards: Every time someone lists, sells or purchases an NFT through our SmartContracts, they will be immediately rewarded with an absolute amount of our native token. Sellers can consume our native token by using it to promote their NFT. This pushes their listing to the top of site but requires the token to be burnt. Our utility token is constantly getting minted and burnt to manage its total supply. It also means people are rewarded for simply listing their NFTs on our site, which is a key strategy in ensuring that our inventory of NFTs grows exponentially. 3) We want a user experience that makes it easy for buyers to find what they are looking. We will allow buyers to search within price ranges and even have a smart search feature that when turned on, reads their wallet and only shows them NFTs that they can afford. 4) Finally we want to have customisable auction. This gives sellers the freedom to set a variety of parameters. For example if the seller wants to charge for each bid and dictate the price increment, thats possible. If sellers want to set up a lowest unique bid auction, that will be possible. In conclusion we want to create the best marketplace for buyers and sellers. Our native token also allows for "fans" to assist in promoting various NFTs with the native token. And if one of the current marketplaces chooses to match us in fees and features, then we would have considered this hack a success as its made the NFT secondary market more affordable, rewarding and enjoyable.
We decided to use the great uniswap-interface for our front end, which works well, looks modern and is consisetent. On the smart contract side,
we built a comissionless penny auction system that uses the compound liquidity pool. Currently, the front-end demo is a proof of concept, but smart contracts are function.
Integration with our specifications and adding new auction types, the utility token and search features will be part of our future roadmap.