Jelly V1 is live 🥝🍓🥭 — Get ready to trade your Crowns! 👑
These last three weeks have been long, right? Stage 1 is here! The first version of the marketplace features Crowns as the first listed collection.
It’s finally time ⏰
V1 of the Jelly marketplace is live on the Internet Computer! Albeit just Stage 1 of the Jelly roadmap, but a much-anticipated release for our community.
What is stage 1? In this release, Jelly will be in Crowns-only mode, meaning, you’ll only be able to trade the Crowns NFT collection through Jelly for the time being. We’ll perform audits on the protocol’s front-end and back-end during this stage. As we stated on our original roadmap, after Stage 1, we’ll prepare to onboard other external collections to Jelly!
We’ve come a long way over the last three weeks 😉, and can’t wait for you to see what’s coming next 👀
Jelly’s V1 — Using the Marketplace 🚀
For the first stage of the release, we’ll use Crowns to showcase the buy and sell flows on Jelly.
When initially interacting with the marketplace, you’ll first need to log in with your Plug wallet. After approving the connection, you’ll be able to List, Buy and Sell NFTs on Jelly!
How to List and Sell an NFT 🎨
After connecting your wallet, you’re free to list your first NFT! Navigate to the Crowns collection and Display ‘My NFT’s’.
Click the NFT you want to list for sale and set the price. After approving through Plug, your Crown will be listed for sale!
If you visit your NFT’s specific page (by clicking it, or using the My NFTs filter on the global list), you can cancel or edit the listing, as well as review/accept any offers.
How to Buy an NFT 💰
Make sure you have enough WICP in your wallet to complete your transaction. Keep in mind that the only fees you need to worry about are the protocol fee and a collection royalty associated with each Crowns transfer. No gas.
First things first, get some Wrapped ICP (WICP)! You can use Sonic with your Plug wallet to swap ICP for WICP.
You’ve got two options when trying to buy an NFT:
- Making an offer the buyer has to accept.
- Buying an NFT for its listed price (if the seller set it up!).
When you make an offer, the buyer-side process is fairly routine! With Jelly, you can make as many offers on NFTs (listed for sale or not) as you want.
Just make sure you have enough WICP to complete the transaction! Make a big offer on the grail you’ve wanted since the first release or multiple smaller ones off the floor. As long as the funds are available in your wallet and the offer is accepted, your transaction will get processed.
When you purchase an NFT via the “Buy Now” for its listed price, it’s as quick as hitting the button, accepting the WICP transfer to the seller… And voilá!
Need WICP?
Head to https://app.sonic.ooo/swap to swap your ICP for WICP, quick and gas-free!
How does Jelly handle operations? 🤔
From the seller’s side, we’ve integrated a few fail-safes to make the transaction process as secure as possible.
After making a sale, the protocol will confirm a hold on funds and the transfer will be attempted. If this fails, funds will fall back to the seller’s marketplace balance that can be withdrawn manually.
Buying / Selling on Jelly is non-custodial. This means the protocol acts as a facilitator, not an owner of the NFTs being sold. Ownership goes directly from user A → user B in a successful transaction. Current offers are also transferred with NFTs, wallet-to-wallet unless rejected by the new owner.
What are Crowns? 👑
CAP first launched Crowns last fall to showcase the protocol’s power as an NFT & Token transaction history provider. 10,000 Crowns were available, raffled, and airdropped for free to the public. However, they couldn’t be transferred or sold… until now!
Well, we’re here to finally deliver. But, instead of building a collection-specific marketplace, we’re bringing you tools to build that yourself for any community or collection. We’re fully integrating CAP, allowing you to have interoperable protocol-level transaction data across all marketplaces made with Jelly!
While we work a little under the hood on those later stage features, we are finally opening trading floodgates for Crowns holders, directly on the Jelly.xyz app! 👑
Where Do We Go Next? 🔮
What’s coming next in Stage 2? We are going to start testing the aggregator backend for the marketplace, meaning we’ll start testing and onboarding new collections (like ICNS, or Beta participants) to test the Jelly protocol’s performance in multi-collection mode.
Prior to that, we want to partner with a few collections from the community to test the platform in a beta environment. For a short period, only collections from the beta program will be tradable on Jelly, after which the platform will be open to all!
- If you’re a project founder and want to join the Jelly beta program, fill out this form!
Until then, we want to make sure the Protocol is working perfectly. Hop into our Discord and give our team any feedback or flag any fixes you may find!
That’s all for today 👋 Keep your eyes peeled on the Jelly socials for alpha and upcoming releases 👀
