Mastodon Marketplace: All you need to know.

What is Mastodon Marketplace?

Mastodon Marketplace is a groundbreaking digital platform for buying and selling NFTs (Non-Fungible Tokens) that come with their own crypto balances. It’s the first of its kind, designed especially for NFTs that can carry extra value in the form of cryptocurrency. This means whenever you buy or sell these NFTs, the included crypto balance goes straight to the new owner. It’s like getting a digital collectible with a wallet of its own, packed with some extra digital money.

The platform supports all sorts of digital treasures, including both ERC-721 and ERC-1155 tokens (and the combination between them), which are popular formats for NFTs on the Ethereum blockchain.

For now, Mastodon Marketplace is focusing on two specific types of tokens: XENFT and DBXENFT. This choice showcases the marketplace’s ability to adapt and offer a variety of digital items for users to explore and trade.

Is it safe?

Absolutely, Mastodon Marketplace prioritizes safety for its users. The platform’s security measures are thorough, starting with an internal audit of its smart contracts. This initial review is conducted by the in-house team to ensure that the code meets high standards of security and functionality.

Following this, an external audit is performed by CertiK, a leading security firm known for its expertise in blockchain technology. Certik’s involvement adds an extra layer of credibility and assurance, confirming that Mastodon Marketplace’s operations are secure and reliable for trading NFTs with crypto balances.

What Can I Do on Mastodon Marketplace?

On the Mastodon Marketplace, you can perform four primary actions with the platform’s smart contract, each designed to give you control over your digital assets. Here’s a guide to using these functionalities:

List NFTs: This action enables you to put your NFTs on the market. The unique feature of Mastodon is its batch listing capability, which allows you to list multiple NFTs at once. When you list an NFT, it is transferred to the smart contract. This transfer is crucial for maintaining the NFT’s associated balances, ensuring the integrity of the value attached to the NFT.

One type of NFTs that is commonly traded is XENFTs. These NFTs are unique in that they are designed with arrays that hold lists of owned NFTs for each owner. However, this can pose a challenge for owners who possess a large number of NFTs, as it may require significant storage space. To address this issue, we have implemented a solution where each order creates its own storage for NFTs.

For users who wish to list multiple XENFTs for sale, we recommend utilizing the batch-listing function. This function allows users to list multiple XENFTs in a single transaction, resulting in significant cost savings. For example, listing 100 XENFTs using the batch-list function can be up to 51% cheaper compared to listing them individually in separate transactions. This optimization not only saves on transaction fees but also streamlines the process for users with large collections of XENFTs.

Delist NFTs: If you change your mind or want to remove your NFTs from being up for sale, the delist function is what you need. This action takes your NFTs off the marketplace and returns them to your possession. Once the NFTs are in your possession you can claim the associated balances.

Buy NFTs: The marketplace allows you to purchase NFTs using three different tokens: $DXN, $XEN, and the native token of the blockchain on which you’re operating. This provides flexibility in payment methods, catering to a variety of user preferences.

Change Price: Should the market fluctuate or your valuation of the NFT change, you have the ability to adjust the price of your listed NFTs. Moreover, you can also change the currency of the listed price. The advantage here is that you can do this without having to delist and relist the NFT, saving time and effort.

Mastodon website: A simple guide

Step 1: Connect your wallet

Step 2: Use the search bar to find the collections that you want to explore

*for this example we will use dbxenft on Ethereum

Step 3a: List, Delist
On the upper left side, you will find two buttons. ‘Owned by Me’ displays your NFTs, while ‘Listed’ shows your NFTs that are currently for sale, where you can also change the price or delist them.

By design, Mastodon Marketplace exclusively facilitates the trading of NFTs that have been listed on the Mastodon Marketplace smart contract. This means that in order for an NFT to be traded on our platform, it must first be registered and available for trading on our smart contract. This ensures a streamlined and secure trading experience for all participants within the Mastodon Marketplace ecosystem.

Step 3b: Buy

If you’re looking to purchase an NFT, the Mastodon website provides a list of filters to greatly simplify your search for the right NFT. Simply select your interests and hit submit. We’ve optimized the information displayed for XENFTs, focusing on key details such as price impact that genuinely matter to buyers.

Roadmap?

The Mastodon team is currently working on expanding the website, which currently supports only DBXENFTs and XENFTs, to accommodate all types of NFTs. This expansion will transform our platform into a comprehensive marketplace for a diverse range of NFTs.

*at this point the Mastodon Marketplace is live on Ethereum and Polygon. It will be deployed on Binance Smart Chain and Avalanache on the next weeks.

Oficial links:

Website: https://mastodon.dbxen.org/

Certik Audit: https://skynet.certik.com/projects/mastodon-marketplace

Github: https://github.com/starfish-technologies-srl/Mastodon-Marketplace-Smart-Contracts

Twitter: https://twitter.com/DBXeNFT

Telegram: https://t.me/+_Q3prZI35gJkZmI0