One of the leading NFT marketplaces in the crypto universe, GhostMarket is the only cross-chain platform that allows users to trade through multiple wallets. With its revolutionary technology and robust features, GhostMarket aims to bring the NFT marketplaces to the masses. Functioning primarily out of the Phantasma ecosystem, GhostMarket is a niche marketplace for gamers.
Apart from this, to commemorate its launch, the portal team auctioned its first 52 Ghost Genesis NFTs. The developers decided not to charge any fee on these tokens for life. As a result, you can trade various non-fungible tokens on the platform if you wish to establish a stable revenue stream as a digital artist.
Working and Focus
GhostMarket is the only NFT marketplace that employs the use of multiple blockchain platforms. However, the current dual blockchains that power its features are Neo and Phantasma. The portal will soon integrate a third blockchain with a fourth system integration already in the pipeline. However, which blockchain systems the platform will incorporate will only be announced with time.
NFT Trading Features – Phantasma
The platform already utilizes Phantasma native smart contact to facilitate trades on the NFT platform. You can link your wallet to execute trades through the Phantasma Link dApp connector. Like MetaMask, which enables exchange on Ethereum, the dApp connector will allow users to sync their wallets with the marketplace within seconds. You can also install the Ecto as an extension to your Chrome browser to initiate trading with the platform. Since GhostMarket operates on different blockchain systems at once, it spoils its users with its ability to execute transactions with multiple wallets. Apart from this, users can utilize Phantasma’s user-friendly native wallet called Poltergeist if they are new to the whole NFT scenario.
What’s better is the platform’s seamless integration with both the desktop and the web version of Pavilion. The Pavilion game hub can automatically connect your wallet to the Pavilion Phantasma instantly. As a result, if you purchase any in-game items with the platform, the impeccable syncing of the marketplace wallet and the game hub will lead to direct delivery of the NFT in your game inventory.
Apart from this, Phantasma does not entail any transaction fees. Therefore, you can undertake bulk buying and selling with virtually zero “gas” fees. Phantasma supports the sale of up to 100 NFTs at once in a single transaction. Ghostdevs, the brain behind the development of GhostMarket, is also working on integrating custom features with Phantasma’s smart contract system, including incorporating different categories of NFT auctions.
NFT Trading Features – Neo Blockchain
The founding community has already deployed a custom smart contract on the Neo Blockchain and is finalizing the beta testing before the code goes live on the NEO2 main net. The support of NEO3 NFT features is already in the works and will occur in the upcoming months. However, the Neo smart contract system allows users to trade any active NEO 2.x NFT creations. Apart from this, the system also entails comprehensive auction capabilities while supporting bulk buy or sell transactions.
Users are also allowed to log in with their Neo wallets. Any wallet that supports the NEO dAPI standard, including NeoLogin, NeoLine, O3, and Teemo, works effortlessly with the platform. However, NeoLogin offers complete NFT support from the wallets mentioned above, while O3 is working on expanding its features. However, all Neo NFTs are fully supported in terms of signing in and out. All the related activities and available information also work seamlessly on the platform. The only thing that is currently suspended is the trading. Ghostdevs is wrapping up its Neo NFT trading beta testing program and will soon be launched for users globally.
GhostMarket is the only platform that functions on multiple blockchain systems. As a result, you will get the best of both worlds if you consider executing transactions on the portal. The Ghostdevs team is running full steam ahead on their plans to integrate the marketplace into an NFT ecosystem. The aim to make GhostMarket the ultimate NFT marketplace that would be the go-to platform for all NFT lovers.
Auction Categories
You can access GhostMarket auctions through one of the following four categories.
- Fixed
- Classic
- Dutch
- Reserve
Fixed NFTs represent the vanilla category of the auction bids. It includes price trading, which is already supported by the platform. The option allows the users to list the NFT and then define a price and the listing’s duration. Previously, the listing duration was limited to 30 days. However, with the new update, you can now list an NFT for 365 days.
Classic auctions represent the traditional auction features. As a result, the listing starts from a base price, and the creator can accept higher bids as they grow progressively.
However, dutch auctions follow an utterly opposite method. The NFT creator quotes the highest and the lowest price, and the auction starts from the upper limit. The price is gradually decreased across a specific time duration (30 days) until someone is willing to purchase it.
Reserve auctions allow creators to quote the minimum price they would accept for their art pieces. There is no duration applied to this method. As soon as the first bid exceeds the minimum amount quoted by the artist, it would trigger a classic auction with a 24-hour time period.
User Statistics & Fee Involved
Since the developers powering the platform began beta testing, the portal has performed over 11,000 NFT sales, accounting for approximately $28,000 in volume. Presently, there are more than 243,000 NFTs trading on the platform, out of which around 11,200 of them are on sale.
The platform charges no listing fee from NFT creators. However, once your artwork gets sold, much like all physical art galleries, the GhostMarket portal will also charge you 2% of the sale amount as a facilitation fee, commonly referred to as a commission. An ongoing referral program allows users to gain 25% of that commission once the friend they have referred to makes a purchase.
Apart from this, the marketplace plans to develop a mobile application for the portal. Since it is all about convenience to the users, and whichever NFT platform wins, that race books the most transaction volume. As a result, most marketplaces are currently developing their user interface to notch their services up a little and gain more traction among new users who have never been to any NFT marketplace before.
GhostMarket Referral Program
Yes, the platform runs a dedicated referral program for all its users, unlike most NFT marketplaces. Under this program, the referrer is eligible for a 25% bonus on all commission proceeds of the referee. To put it more simply, if you refer GhostMarket to a friend and he ends up buying an NFT, whatever commission the platform will charge, you will be given a percentage cut out of it in the cryptocurrency of your choosing. By consciously placing itself as one of the leading NFT marketplaces, GhostMarket is coming up with innovative user incentives to draw more people towards the crypto market.
With your unique referral URL, you can share NFT links with your friends and family. Luckily, if anyone from your acquaintances chooses to buy an NFT through your link, you will get 0.5% of the NFT’s price as a reward. However, the program does not limit your earnings to just the first purchase. Every subsequent trade that occurs after that, the platform will continue to transfer the reward amount to your wallet.
Pros
- GhostMarket is an exclusive platform running on multiple blockchain systems. As a result, you will gradually get the best of every world as soon as the developing team behind the marketplace starts integrating more blockchain systems.
- The GhostMarket referral program is one of a kind and is presently not being run by any other NFT marketplaces in the industry.
- The platform allows you to sync multiple wallets since it emanates features of various smart contract systems.
- Ghostmarket is soon to integrate two more blockchain systems into its ecosystem.
- The Phantasma Pavilion wallet enables gamers to store their in-game NFT items directly into their game inventory.
- Even though the platform supports multiple technological systems, each one works seamlessly to provide convenience to users.
- The platform will soon launch a mobile application for users and will be the first marketplace to achieve the feat.
- Phantasma allows users to undertake bulk NFT buying and selling with virtually zero transaction fees.
Cons
- The NFT trading on Neo is yet to launch.
- The referral program allows rewards only on the commission amount and not the price of the NFT.
- You cannot use your debit card, credit card, or PayPal account to execute transactions on the platform.
