GhostMarket has launched a new feature called “Lucky Buy,” designed to offer users an alternative method for purchasing NFTs at a potentially reduced price. The feature is currently available on the Neo N3 blockchain and is expected to expand to other EVM-integrated blockchains in the future.

How Lucky Buy works

The Lucky Buy process is based on a random number generation, with users rolling a number between one and 100 to purchase an NFT on the GhostMarket marketplace. Depending on the bid probability set by the user (ranging from 1% to 75%), the on-chain generated number will determine whether the roll is successful.

If the user’s roll is successful, they will acquire the NFT at a reduced price, with GhostMarket’s treasury covering the difference between the bid and the full price. If the roll is unsuccessful, the user’s bid amount is transferred to the GhostMarket treasury, contributing to future Lucky Buy opportunities.

For instance, if an NFT is listed for 80 GAS using the standard “Buy Now” option, the user can instead choose to participate in a Lucky Buy for a chance to acquire the NFT at a reduced price, ranging from 0.84 GAS to 63 GAS, depending on the selected probability.

Lucky Buy operates entirely on-chain, utilizing random number generation to ensure fairness. Users can verify their roll results and probabilities directly on-chain through transaction explorers, ensuring transparency.

Example of a Lucky Buy using a 58% win chance. Source: GhostMarket Medium

Eligible Listings

At present, the Lucky Buy feature is available for all listings priced in chain-native fee currencies, such as GAS on Neo N3, and those listed in GM tokens.

To utilize the Lucky Buy feature, users must select an NFT compatible with the feature and choose the Lucky Buy button instead of the standard “Buy” button. Upon selection, a modal window will appear, allowing the user to adjust the probability percentage and input their desired bid amount.

The Lucky Buy feature also incurs a 3% fee on top of the existing platform fees. The additional fee is distributed as follows:

  • 1/3 to the seller: The seller receives an additional 1% of the final NFT price.
  • 1/3 to GFUND: A portion is allocated to GhostMarket’s in-house fund, GFUND.
  • 1/3 to GhostMarket: The remaining amount supports platform development and covers the gap between the bid and full price in the case of a winning roll.

GhostMarket anticipates that this new feature will provide users with a fun and engaging way to acquire NFTs, potentially at a lower cost, while also contributing to platform growth and providing additional incentives for sellers.

More information on GhostMarket’s “Lucky Buy” feature can be found at the link below.
https://medium.com/@ghostmarketio/introducing-lucky-buy-a8b7808b4135

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