GhostMarket has integrated support for minting, selling, and trading NFTs on the Neo N3 blockchain. GhostMarket is now the first usable dApp to be deployed to the Neo N3 MainNet.
Neo users can connect to GhostMarket via the NeoLine Chrome extension or O3 Wallet (mobile and desktop), and mint NFTs on GhostMarket using GAS as payment. Future support is planned for Neon Wallet.
The GhostMarket cart allows users to buy or sell NFTs in bulk across various wallets. GhostMarket founder Vincent Geneste previously compared the shopping cart experience to Amazon’s, calling it “polished.”
Users can participate in three types of auctions when buying and selling NFTs: classic, Dutch, and reserve. Classic auctions can run for up to 30 days, beginning at an initial price that increases with each bid. The highest bidder at the end of the predefined timeline wins. In a Dutch auction, the seller lists the highest price first and lowers the price until the first bidder accepts. Reserve auctions list the minimum price a seller is willing to accept from bidders. Once the reserve price is met, a 24-hour timer is triggered for bidders to compete for the NFT.
When minting an NFT on GhostMarket, royalties can be baked into the smart contract, giving creators a percentage of revenue every time the NFT is sold. GhostMarket has also implemented support for cross-platform carry over of royalties, even if the NFT is sold on a different marketplace. Geneste said:
Artists will get their royalty, even when moving from one platform or dApp to another. This is something almost no one has because it’s very tricky to do. We solved this problem.
GhostMarket rewards royalties as a percentage of each subsequent sale. However, since NEO is not a divisible token, users can only purchase royalty-bearing NFTs with GAS. NEO can be used to purchase non-royalty NFTs.
The GhostMarket team intends to release more documentation to help smart contract and dApp developers better understand the metadata formatting of its NFTs. Additionally, a smart contract template is being designed for developers to launch their own contracts, allowing for custom collections.
There will be a community campaign that rewards users who mint NFTs on the Neo blockchain. GhostMarket will be distributing rewards to NFT minters handpicked by the team. More information is forthcoming.
GhostMarket’s roadmap also includes the addition of cross-chain functionality to the platform. Currently, GhostMarket acts as a singular connection point for multiple chains but doesn’t offer cross-chain swapping. The GhostMarket team intends to provide cross-chain porting of NFTs before the end of the year.
The full announcement can be found at the link below:
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).
More posts by Dylan Grabowski