GhostMarket has added support for Neo X to the cross-chain NFT marketplace, marking the platform’s eighth blockchain integration. The development team has deployed all ten of its smart contracts on Neo X, and now users can buy, sell, and trade NFTs on GhostMarket.
The GhostMarket NFT platform supports two NFT standards on the EVM-compatible sidechain, Neo X. Created in 2017, ERC-721 is the main NFT standard on the Ethereum blockchain. It provides guidelines for building unique tokens representing digital assets across various verticals (i.e., gaming, art, and collectibles).
The second standard, ERC-1155, allows a developer to create and transfer both fungible and non-fungible tokens in a single transfer. ERC-1155 differs from 721 in that it allows for multiple items to be stored in a contract, which increases cost-effectiveness and versatility as individual token contracts don’t need to be “approved” individually. For example, an ERC-1155 contract can hold multiple items for a user’s game character, such as swords, shields, and in-game currency.
In addition to NFT standards, GhostMarket has also deployed its EVM-based fungible token, trading, royalties, incentives, staking, vesting, LP, proxy, and wrapper contracts on Neo X.
Next Steps
Looking forward, the GhostMarket team intends to build a tool for Neo X users to create NFTs directly on the platform, which they can then buy, sell, and trade.
Neo X will join GhostMarket’s Trading Incentive Program, designed to release the GM token to the platform’s most active users. The incentive rewards apply to all chains on the GhostMarket platform that users have used to mint or trade NFTs. The GM rewards will be distributed to each chain in proportion to the user’s activity on that chain and are collectible in the Rewards section of the platform.
Lastly, GhostMarket intends to host many events to celebrate the launch of Neo X, including weekly giveaways, collection contests, and Twitter Spaces with special guests. Interested participants can follow GhostMarket’s social media accounts to stay updated on upcoming events.
The full announcement can be found at the link below:
https://medium.com/ghostmarket/ghostmarket-integrates-blockchain-8-neo-x-f148d4217b75
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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