Draft Proposal: NFT Marketplace for PV Assets (payable in POW, PUNKS)

Requesting comments, additions, and feedback on this proposal:

Problems

POW/PUNKS Liquidity & Demand

Currently, especially for PUNKS, the demand is small, and therefore the existing liquidity.
Mostly because of the limited usage, current driver is mostly speculation.

High Royalties on Secondary

Royalties on secondary markets like opensea are extremly high when compared to other projects.
Some voiced their negative opinion on it in the founders-dao discord channel.

Proposed Solutions

Creating a marketplace to buy and sell pixelvault nfts. These listings are royalty free as long as they are in any native currency to the pixelvault ecosystem (currently POW & PUNKS).

Listings in any other currency should have royalties like on opensea, but these royalties are send to a contract to automatically buy a native currency to the pixelvault ecosystem, and either burn it or provide liqudity (possible to split up royalties between pixelvault and burn/liquidity).

Technical

By using the 0x Protocol and their NFT Swap SDK, the time to deliver a MVP (minimum valuable product) can be drastically reduced (especially because I am building such a multi-chain marketplace myself for Galaxy Fight Club), also 0x is claiming that their contracts are “Up to 54% more gas efficient”.

Potential Upside

Having such a marketplace drives more value to native currencies to the pixelvault ecosystem, favors liquidity providers of these currencies, and could lead to more visibility in the nft space (@example phunks).

While offering alternative, non native, currencies but with royalties and using these royalties (partially) to drive value or provide liqudity to native currencies such as POW and PUNKS.

2 Likes

This is a neat idea. Seems like a huge task tho. Do you have any examples of this in action? Also, we would only be skipping the OS fee. I doubt we can change the 7.5% that PV collects.

Not really huge, as 0x Protocol and NFT Swap SDK do most of the work. I was able to build a functional prototype in roughly two days.

1 Like

I would definitely prefer to trade metaheros with $POW with less fees.

1 Like

congrats @tony-stark.eth for your skills, and I like the proposal to create liquidity, skip fees, and have a page to show all of them. +1