GhostMarket and NEO Economy founder, Vincent Geneste, recently joined the Neo News Today podcast, where he discussed the uniqueness of the GhostMarket non-fungible token (NFT) marketplace and explorer.
GhostMarket allows users to browse, buy, and sell NFT’s on the Neo and Phantasma blockchains. In the interview, Geneste noted that although other NFT marketplaces exist, most focus on a single platform:
[Most NFT marketplaces] focus on a single blockchain, and I think, based on what Neo [has] delivered recently and will be delivering soon, the focus is now on interoperability. Why start new, third, fourth, or fifth NFT marketplace custom-made for [each] chain? Instead, why don’t we do something unique, which can bring all chains together?
While Geneste noted the concept is simple, the steps to make this vision become a reality have been anything other than straightforward. For instance, although various Neo-based projects support NFTs, they do not all use the same standard.
Geneste pointed out, “NFT standards are pretty similar, or [some] change on specificities. So, we had to design and think of something quite generic and quite scalable. And it’s not that easy. Maybe that’s why [a cross-chain NFT marketplace doesn’t] exist yet.”
Along with ironing out the complexities of NFTs, GhostMarket has implemented multiple wallet support for each integrated chain. Phantasma users have the choice of connecting to GhostMarket with their Ecto or Poltergeist wallets. Neo users can choose between NeoLogin, O3 Wallet, NeoLine, and Teemo, with plans to support Neon Wallet once it integrates the dAPI standard.
While GhostMarket currently supports two blockchain networks, Geneste highlighted that GhostMarket does not yet provide real cross-chain functionality. He points out:
To clarify, I chose to call it a cross-chain marketplace. For now, what that means, is it integrates [support for] multiple chains. Though, how I see cross-chain, the idea is to be able to swap NFTs from one chain to another. At that point, [GhostMarket] will truly be a cross-chain NFT marketplace. For now, it’s more like a multi-chain [platform].
Looking forward, cross-chain functionality is on the GhostMarket roadmap. Geneste noted, “The plan is [to add support] later, maybe in two months, at tops.”
The full interview can be found below: