The NFT industry exploded last year, reaching a valuation of nearly $44 billion according to data from blockchain analytics firm Chainalysis. Moreover, it is one of the sectors that has been least affected by the recent market correction. Which suggests that the NFT craze is not about to stop. To support this dynamic, GhostMarket, NFT’s trading platform, now offers particularly attractive remuneration packages. The goal is to allow traders to maximize their profits from a long-term development perspective.
What is GhostMarket?
GhostMarket is a marketplace dedicated to buying and selling NFTs. This is the first platform cross chain in the world to provide this type of service. More concretely, it offers a complete and adapted trading experience for several types of NFT, regardless of their platform of origin. It currently supports BNB Chain, Avalanche, Polygon, Phantasma Chain, and NEO N3. In the medium term, it foresees a complete integration of Ethereum and Solana and, in the long term, of all other blockchain networks adapted to NFT technology.
GhostMarket is for artists who want to monetize their works, either at a fixed price or at auction. At the same time, it is aimed at traders and collectors who want to buy and sell NFTs. For this purpose, the system offers an overview of existing listings on different platforms. In addition, the startup provides developers with an API allowing them to interact with smart contracts to create and retrieve NFTs compatible with its architecture.
What advantages does GhostMarket offer?
The marketplace provides a particularly interesting range of tools to simplify the discovery of the universe of NFTs. In particular, it offers a function of self mining which allows you to create and list NFTs quickly and intuitively. It also allows you to define certain parameters such as the percentage of royalties or attributes.
GhostMarket also allows the creation of multi-channel user accounts. Also, it has a feed explorer. It makes it possible to visualize the various events of the ecosystem, from the issue to the burn from NFT, to transaction history and listings calendar.
The platform is intended to be entirely non-custodial. In other words, it does not store users’ private keys. This guarantees a higher level of security.
The GhostMarket (GM) token and its benefits
GhostMarket (GM) is also the name given to the governance token that powers the platform. It rewards the most active users each week. Thus, GM token holders can participate in votes and airdrops exclusive. They can also benefit from reduced transaction fees. Additionally, GM tokens are also used to promote NFT collections and to receive bounties for community moderation.
Note that the GM token is operational on all the networks integrated into the marketplace. The company has a bridge, to allow the transfer of tokens from and to all blockchains.
In addition, the GhostMarket token is already listed on several exchanges. These include: Flamingo.Finance, MEXC Global, PancakeSwap, QuickSwap, Demex, Uniswap, and Trader Joe XYZ. That said, it is possible to follow its evolution on certain price aggregation sites such as CoinMarketCap and CoinGecko. Speaking of which, its maximum supply is set at 100 million tokens, of which more than 23.5 million are already in circulation. Nevertheless, its market capitalization is estimated at around 900 thousand dollars at the time of writing.
What is the GhostMarket Incentive Program?
Last July, GhostMarket launched a trading incentive program. The company plans to distribute 6.5 million tokens through various compensation campaigns. By October, nearly half of the incentives will have been awarded. In reality, users are paid in proportion to their activity (purchase/sale) on each network. Of course, this only concerns the blockchains supported by the platform.
The incentive program in question follows the distribution scheme below:
- 07/18/22 – 10/17/22: 3 million GM (33,333 tokens/day)
- 10/18/22 – 01/17/23: 2 million GM (22,222 tokens/day)
- 01/18/23 – 04/17/23: 1 million GM (11,111 tokens/day)
- 04/18/23 – 07/18/23: 500,000 GM (5,555 tokens/day)
Today, GhostMarket already offers a relatively comprehensive service around NFT trading. However, the company does not intend to stop there. She recently launched two offers of staking. The first, which corresponds to staking liquidity, is already available on the decentralized exchanges PancakeSwap, QuickSwap and Trader Joe XYZ. The second is to lock GM tokens on the platform. It will be available by the end of this month. It should also be noted that the team behind the project is very dynamic. Especially on the social networks where she listens to her community and reacts to each of the questions asked.
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The Cointribune editorial team unites its voices to express themselves on topics specific to cryptocurrencies, investment, the metaverse and NFTs, while striving to best answer your questions.