As we are rapidly approaching our alpha release date, I want to use this opportunity and update our readers on the current progress.
Our very own NFT Marketplace called “Minted.Vodka” (aka. MV) goes beyond what currently exists on any of the networks. We are combining some of the features from “OpenSea” and “Rarible”, namely:
1. Free-for-all marketplace
No curation. We want to offer a place where any ERC721 (NFTs) and ERC20 (coins) assets available on the network can be traded. Known assets will be marked as such (pulled from TrustWallet Assets and mixed with our own asset list).
2. Easy minting
We will add minting functionality so that anyone can create new NFT collections and sell tokens from that collections on our marketplace and/or anywhere else.
Some of our planned features, however, go beyond what is currently available on any of the networks. Namely:
1. Beyond NFTs
We want to target not only NFTs, but also ERC20 “coins” (fungible tokens) and even unwrapped network currency. This allows mind-blowing flexibility when creating new deals.
2. Flexible deals engine
A user will be able to create a deal with any amount of offers and demands. An offer (or demand) is any NFT, coin or currency (BNB) existing on the network, which the user has ownership of and has full transfer rights.
This engine not only allows simple sales (exchange an NFT for BNB), but much more complex combinations like:
- Swapping: exchange one NFT for another NFT, same collection or completely different ones. Example: Swap TOYS #3 Straw Phoenix for a $DOGGY
- Bidding and counter-offer: Simply create a new deal where you demand an offered item from another deal.
- Bundling: since a deal is an NFT itself, it can be traded on MV. Whoever owns the deal token, owns the items offered in the deal. Hence it is possible to create multi-asset bundles simply by creating a new deal (with astronomically high demand, for example), and trade/transfer it to someone else. Be it off-market or on any other NFT marketplaces.
3. Deterministic deals while total control of your assets
Unlike other marketplaces, when you offer an item on MV, it is transferred and locked in a “Deed” contract. In return you get an NFT “deed”, which represents the ownership of that asset.
You maintain complete control over that asset until the deal is not accepted by another party. You can return your deed token anytime and will get the underlying asset transferred back to you, effectively cancelling your deal.
This setup allows you to keep complete control of the offered items, while making the deals on the market totally deterministic — all the offered items in an active deal are guaranteed to exist when someone accepts that deal.
4. Powerful search engine
Our main priority has been a flexible, potent search engine which required building an intermediary asset synchronisation layer. The newly created engine will allow the users to create complex queries to find exactly what the user is looking for.
For example: find me all successful (agreed) deals from the past 30 days where the user “0x1234..” offered a TOYS NFT called “Golden Dragon” with serial number #999 and demanded $BAKE in return, where user “0x5678” was the buyer.
All the search queries can be saved in a custom queries list, which can be modified, duplicated, shared and used later for even quicker searches.
5. Deal details for custom packs
All the deals can have optional title and description, which can be searched and used in the query filters. This will allow deal “tagging” for further customisation.
Example: Imagine a group of users creating AlchemyToys starter packs with a set of TOYS tokens and GAT coins. The group can agree to use “Alchemy Starter Pack” in the deal title. A new query can be easily created to target that title and its link shared anywhere to get quick overview of all the existing packs.
6. Trading flat-rate
MintedVidka will be the cheapest place to trade your assets, guaranteed. We want to follow the same spirit on which the cryptocurrencies have been founded: it does not matter how much of something you transfer — you pay the same fee independently if you transfer one USD worth of assets or one billion USD. It is only natural that all the NFT marketplaces will have to adapt to this credo — or be replaced in the long run!
7. Free premium trades
When a deal demands only one asset in return and that asset is our GameAce Token (GAT) the deal will have no trading fees at all! While this means that there will be less fees to distribute among our GAT stakers (as 100% of all MV fees will go directly or indirectly to stakers, more on this later), the higher GAT will create an upward pressure on the GAT price.
We have promised to launch the market on live network in June and we intend to keep our promise. However, for several reasons we have decided to do so a few days after the Binance NFT Marketplace launch. Most importantly:
- We do not want our launch to be overshadowed by Binance NFT Marketplace. We have much less marketing firepower and need to use our resources wisely.
- We want to see what NFT assets the Binance Marketplace will offer and add those assets directly to MV on launch.
- We want to better integrate the market into the AlchemyToys Game.
MintedVodka will be launched as alpha, having all the described features, except minting, which will follow some time in July or beginning of August, depending on whether we complete full MV staking first or not (it will be decided in the upcoming weeks).
Here is a short preview of the main features planned to be added this summer after the launch:
Anyone will be able to create their own collections, which will be automatically added to the known collections on MintedVodka. The creation of a collection will require burning of a small amount of GAT tokens. This will create a natural and gradual deflationary pressure on GAT.
A collection will be an NFT itself. Meaning that the ownership of the collection can be transferred or even sold on any NFT marketplace. The ownership of a collection allows the owner to create new NFT tokens in that collection.
Items minting — IMO
A collection owner can freely add an item to a collection. The item can have one or multiple copies. The corresponding NFT is not created until a copy of that item is minted.
This will happen in a separate “initial minting offering” (or IMO) that the collection starts when creating a new item. The IMOs happen outside the main MV deals market on the collection’s page.
The price for minting is always paid in GAT. This means that in order to participate in any IMO on MintedVodka, the users will need to have some GAT to spend. This will add to a natural demand of our base token, pushing the price naturally higher.
At our alpha launch, 100% of all the collected fees will go to the AlchemyToys game treasure. This external injection of fresh funds will effectively increase the interest in the game and the GameAce Token. The GAT holders will indirectly profit from this, if they stake GAT in AlchemyToys.
Later in July/August, we will add a splitter, where a part of the market fees will go to market staking of BNB/GAT liquidity tokens. This will higher liquidity to cover all the GAT demand described in the use cases above.
This will be a very exciting summer. We are well funded to keep BUIDLing for at least the end of this year, independently of the crypto-market fluctuations — all thanks to our early supporters. What there is currently in the pipeline and what we have planned for Autumn is simply out of this world. And we have all the know how and resources to do so. More on that soon™️!
Naturally, I cannot give any financial advice. I will just say that there are still a few GATs available on our official exchange. The only question is for how long and at what price. 😉
Thanks for reading!