GAINS Associates
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GAINS Associates

GhostMarket — Telegram AMA — December 07

On Tuesday, December 07, we had the pleasure to welcome to our Telegram chat:

Vincent Geneste, Founder & CEO
Marian

We asked them questions about the development of GhostMarket.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

GhostMarket has been active since 2020 and is an NFT Marketplace where you can buy collectibles based on the Phantasma and the NEO-blockchains. The logo of Phantasma is a ghost, which is presumably the reason for the marketplace calling itself GhostMarket. The marketplace was created by a community called Ghostdevs, consisting of open-source developers in the ecosystem of Phantasma.
In order to connect to the platform and use all of its features, you need a NEO or a Phantasma-wallet (there’s a wide variety of supported NEO and Phantasma-wallets). You don’t need a wallet if you just want to browse NFT-events however, like minting, transfer history, sale prices and date of token listings.

The key focus of GhostMarket is that it is the first cross-chain NFT marketplace that has support for both NEO and Phantasma.Artists can create a marketplace for their NFTs here without paying any listing fees or marketplace fees. In many ways, this is comparable to the status Uniswap has among crypto exchanges. Uniswap allows anyone to list cryptocurrencies on their platform, without a meticulous and time consuming listing procedure. The same goes for GhostMarket, but with respect to NFTs.

Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. At GhostMarket, you can decide to sell your NFTs in two different ways: through the “Buy Now”-function or through an auction procedure

Introduction

Q — Ayeley from GAINS: Please tell us about yourself. What did you do before crypto and did you have any other previous venture in crypto?

A — Vincent from GhostMarket: I’m the Founder / CEO of GhostMarket, a cross-chain NFT Marketplace which we launched in late 2020 with 3 close friends, and which initially started as a side hobby project and evolved into something much bigger, where we now are a real growing company with 10 employees and are now interconnected with 5 different blockchains

Before that, I was personally involved in blockchain for 5 years, at first as an investor, and for about 2–3 years as a side hobby where I was dabbling with many different projects since I’m really interested in everything smart contract related. Until 2 years ago I was a network architect, and since then I’ve transitioned full time into the blockchain.

About GhostMarket

Q — Ayeley from GAINS: What is GhostMarket about in a few simple sentences?

A — Vincent from GhostMarket: We’re a blockchain agnostic NFT marketplace. Our goal is to support any blockchain with a proper NFT standard and smart contract capabilities. For now, we’re fully integrated with Phantasma Chain, Binance Smart Chain, Avalanche, Neo N3, Polygon. So on all those chains, we support all the NFT standards available, and you can mint/trade/discover any NFT from those blockchains. On top of that, we’re working on finalizing Ethereum and Solana integration which will bring the number of chains we support to 7

We’re not focused on one particular field of NFT (ex. art) but we are more a generic one, as in we support any kind of NFT, whether gaming/art/music, and whether from big bands/artists or for more regular users, as people can mint directly on our platform

Finally, at the moment we act as an aggregator of different blockchains, where you can browse and trade NFT from different blockchains, connected together. But in the very short term, we are introducing NFT swaps capabilities, where people will be able to swap NFT in between blockchains directly.

Q — @KevinSalom1: I understand that the asset infusion feature is available only for the Phantasma network. Could you explain how the NFT infusion works? Is it possible that in the future we could find this feature available on the other blockchains you operate on?

A — Vincent from GhostMarket: infusion is a Phantasma Chain-specific and native feature, which allows users to add assets (both regular tokens and even NFT) .. within an NFT, like a Russian doll, its very cool and advanced tech and we support that fully. In the short term, we will be adding our own version of this to our smart contracts on other chains which don’t have this feature

Q — Twitter user @y1sus_afp: In GhostMarket, NFTs can be sold in two different ways: through the “Buy Now” function or through an auction procedure. What are the tools you provide to the users so that they can decide when to choose one of these two ways, and get more profit?

A — Vincent from GhostMarket: Sure so our smart contracts support regular direct listings (buy now), we also support open offers (place an offer for an NFT not on sale yet) on top of that we support three kinds of auctions when it comes to NFT: classic auction, reserve auction, and Dutch auctions. I’d say the one earning more profit as the user say, would be the classic auctions, as people tend to not want to lose an auction and there are lots of bid wars happening then hehe 🙂

Q — Twitter user @meml1997: Recently, GhostMarket incorporated Avalanche into its platform, adding this chain to the list of supported chains GhostMarket offers. So, I was wondering, do you have plans on adding more chains to GhostMarket such as Cardano? Can users decide on this matter? If so, how?

A — Marian from GhostMarket: For creators to sell their work on GhostMarket is as simple as creating their accounts. But I wonder before they start selling their art on your platform. Does this art pass any kind of security check to make sure it’s not plagiarism and every guideline on the platform is respected?

A — Vincent from GhostMarket: We don’t have any check-in place to mint NFTs, anyone can mint anything. But once minted we have some ppl handling moderation and everything which get reported as illegal/rude etc, we reserve the right to ban those accounts / NFT. Once our toke is there this will be a task handled by the community (and rewarded)

Q — Telegram user The Curious 👀: How is the price of the NFTs to be offered for sale determined? Is this at the disposal of the creator only? Or does the platform offer any kind of help or index to guide the creator to set the correct value of the NFT?

A — Vincent from GhostMarket: Midterm we will introduce more analytics so that people know in and advance what kind of price they could hope for an NFT, but those are guidelines ppl can sell at whatever price they want, they’re the artists, not us

Q — Telegram user 🙋🏻‍♂️ Kevin 📊: ❇️ You mention that one of the most powerful and innovative features that GhostMarket offers is the Self Mint platform. Could you explain to us what are the advantages that this platform offers to the users? Why is it unique? What are its most outstanding features or tools?

A — Vincent from GhostMarket: It’s unique in the sense that from a single page you can toggle and mint on 5 blockchains and see at a glance what’s the cost on each of them directly, so it’s very intuitive and easy to use

Q — Telegram user Nico: I noticed that you can add secret content to an NFT created in GhostMarket. So, what is this secret content that you add to the NFTs? Is this secret content optional or is it integrated into all your NFTs? How can I see this secret content?

A — Vincent from GhostMarket: It’s an optional feature where you can hide a code or URL in an NFT. It’s encrypted and only accessible by the current NFT owner. It’s available on all our smart contracts

Q — Telegram user Frank: Can you tell us how effective the MAKE A SUGGESTION section of the Ghost Market has been to the improvement of the project?

A — Vincent from GhostMarket: Id say 60% of all we ever implement come from community ideas or suggestions, that’s the best way to improve a platform, by listening to the community

Q — Telegram user Carlos: In GhostMarket website a filter that allows you to see NSFW NFTs. Considering that NSFW could have a big meaning, explain to us what type of NSFW content could be published on this market?

A — Vincent from GhostMarket: We allow any kind of NFT, as long as it’s not illegal or offensive. So yes we allow NSFW content, but to protect minors and avoid legal issues all NSFW NFTs are hidden by default and you have to toggle a filter to be able to see them

Q — Telegram user Titan: On the GhostMarket, I discovered that there are some NFTs in the ending soon section with NO BIDS at all. What happens to these NFTs after the time allocated for their sales expires?

A — Vincent from GhostMarket: It goes back to the seller, and he can list them again if he chooses so

Q — Telegram user Sir DeFi 🤵🏻‍: I understand that creators are free to choose the chain to mint their NFTs on. But depending on the chain they wish to use, under what standards should they create their NFTs?

A — Vincent from GhostMarket: For EVM chains (BSC / Polygon / Avalanche) we support both native standard ERC721 and ERC1155, both of which have advantages and downside, so we offer both, and users get to decide which one they want to use

Q — Telegram user Patrick: In the market, each platform or NFT marketplace has its own characteristics, limits, and advantages it offers. So, can you explain if the files uploaded on your platform have any size limit? What kind of files are allowed on GhostMarket like MP4, JPG, GIF, WEBP?

A — Vincent from GhostMarket: We support almost all file types except AR/VR format for now (will come later) and for now we support up to 25MB file size

Q — Telegram user Keymer: The NFTs created in Ghost Market can only be traded on your platform because they are minted to it? Or really after creating them I can auction them in any other Market?

A — Vincent from GhostMarket: They can be traded on any platform from the chain they’ve been minted on.

Token

Q — Ayeley from GAINS: And what role will this governance token play in the GhostMarket ecosystem?

A — Vincent from GhostMarket: It will have many different use cases. The first one will be that the hardest of all for an NFT marketplace is to attract people. so we will be introducing a marketplace incentives program where people will be rewarded weekly from a pool, based on their activity on the platform. The more you sell or the more you buy, the more you will get rewarded. On top of that, it will act as a true governance token, people will be able to vote and participate in upcoming decisions and roadmap/features of the platform (adding a chain/currencies, etc )

And a lot of different specific use cases, like access to high-end artist drop, depending on the amount of token you hold, or reduction of trading fees if you own a specific amount, etc

Funding

Q — Ayeley from GAINS: Did you raise funds to get the project started? If so, how did you handle them? And are you planning to do any future raises?

A — Vincent from GhostMarket: Project was bootstrapped by myself and the co-founders. Then around March / April of this year, to bring this up to the next level we started thinking about raising funds, and so we designed and planned a cross-chain governance utility token, which is going to be released this month. We’re just wrapping up a successful 2M USD funds raise, both from strategic and private investors, and we will be launching our public sale/IDO this month to introduce our token.

Competitive Advantage

Q — Telegram user Victor: There are other platforms such as OpenSea or Binance Marketplace, that can be considered as GhostMarket’s competitors. So, what kind of features does GhostMarket have to make it unique among its competitors? What will you offer to both buyers and creators other platforms can’t?

A — Vincent from GhostMarket: We have some unique features: such as a cart system. You can add with a simple click all your NFT to buy or to sell to a cart and then process them all at once, it’s a very convenient «Amazon-like» experience. We also support cross-chain user profiles, and you can link together an unlimited amount of wallets from any chain, and all those will appear as belonging to one unique user.

Business Development

Q — Ayeley from GAINS: How far along are you with your roadmap and what should we expect in the next weeks and months?

A — Vincent from GhostMarket: we’re pretty well advanced already, as I said we’re a fully live and working platform, not just a “future roadmap”. We’re already generating revenues and have a growing user base. On top of the two new blockchains we’re adding in Q1 2022, we’re working on many different things :

- full SDK for Dapp developers to interact with our platform and smart contract easily — NFT swaps in between blockchain

- Mobile application — Direct Fiat to NFT payment processing those would be the short term ones, (and our governance token introduction and all related to that obviously)

Thank you, Vincent, for coming into our community, and taking the time to answer our questions. Do you have any final thoughts to share with us? Where can we follow you to stay updated? — Ayeley from GAINS

Thanks a lot for having me, very excited about the future of everything NFT related, and we have a ton of stuff in the pipeline, 2022 should be very exciting. Join us: Telegram | Twitter | Discord | Reddit | Medium — Vincent from GhostMarket

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

Website | Telegram ANN | Telegram Group | Discord | Twitter | YouTube

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GAINS Associates provides you with the latest news and research in blockchain and crypto. It’s a community for everyone to learn and grow together.

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