A Sneak Peak of NFT Market V2
It’s been nearly two months since the launch of the SCV NFT Market, and we really appreciate everyone’s joining in this incredible NFT Boom wave. Over 7000 BNB and 60,000 NFTs are traded, and we’ve built steady relationships with so many successful NFT & GameFi projects like Polychain Monsters. People love the advanced filters, incentive auctions, and NFT portfolio. The market is a huge step for both the SCV project and our community.
However, we know that the marketplace is still far from perfect. Every day we receive numerous warm feedback about UX improvements, UI bugs, and new feature proposals, and we take them seriously. So to answer your expectations, we would like to show you what we’ve been working on, and we are very excited about it: the NFT Market, V2.
V2 is a completely rewritten NFT market from the current one(which would be referred to as V1 below). The new market inherits all the advantages, like fast loading and advanced filters, and at the meantime equipped with many new features and enhancements. So let’s start with the Fixed Price sales.
Fixed Price
For the V1 market, the biggest issue for selling an NFT is that every listing and canceling consumes gas. And because of this, putting a number of NFTs on sale could consume a considerable amount of BNB.
In V2, we manage to lower the required gas for listing down to 0, which means, listing an NFT would only need a single signature, without consuming any BNB from your wallet. And thanks to the new gas-free system, we could introduce some new gas-free operations for Fixed Price sales: Price Adjusting, Buy Offer Rejection, and Expiration.
Auction
Auction has always been the most popular trade method on the V1 market, due to the 10% incentive bidding system. But the fixed bidding increment(10%) obviously caused some inconvenience to many enthusiastic bidders, along with gas-consuming operations bothering our sellers.
In V2, the bid price would be adjustable(above 5%) for bidders, and listing/cancellation no longer takes any gas. Every bidder should be able to bid any price he wants, without waiting for the next bidder to come up anymore. Besides, we will introduce a new feature for sellers to finish an auction before it ends if the price is satisfying enough.
User & NFT wallet
For the V1 market, half of the feedbacks we received are complaining about not being able to locate one of his NFT, before the sale, after the auction, or just listed items. We thoroughly thought about this problem, realizing that there are two key features missing from the current NFT portfolio, so we are adding them back in V2:
- In-wallet Filtering
- Activity Log with Filtering
With in-wallet Filtering, you can easily navigate your NFTs by sale state, price, ending time, or even the advanced property of the NFT. Activity Log provides you the full history of your operations on market, with Filtering and Sorting you can locate any NFT you sold or purchased a long time ago conveniently.
There are also a bunch of enhancements made to every user’s profile page in V2. You can check the table below for full details.
Notification
The notification has been an indispensable feature for the V1 market. Sellers rely on it to get trade finish as quickly as possible, and bidders use it to track the process of auctions.
In V2, we are leveraging Notification to a whole new level. In addition to the greatly enriched notification types, we are adding a feature named Direct Chat, allowing buyers and sellers to communicate via our Notification telegram. This would be very convenient for some big sellers that are open to bargain.
Besides, as we also introduced Favorites in V2, you can finally add an NFT to your favorites and keep up to date with its latest activities by notifications.
Others
Besides all the new features mentioned above, you probably have noticed, V2 market ships with a completely redesigned user interface, with dark and light themes(in contrast, V1 has only a dark theme) and a new NFT ranking page where you could dig for new projects.
V2 market is also designed to support multi-chain and multi-currency, which would come a bit later this year. But you could imagine what it would be like we deploy it on chains like Polygon.
Some of those features are marked in darker green in the table as M2 features, which means they are supposed to be released a bit later after the first release of the V2 market. Especially, we are adding a new some more exciting new features as M2, like
- Referral, to encourage explorers to discover valuable NFTs
- Royalty, a long-term incentive for NFT teams
- Coupons, platform rewards for buyers and sellers
We will publish more details of all M2 features later time this year.
So this is a quick glimpse of what’s coming in the V2 Market. What we are trying to build is a market that is faster, easier to use, cheaper to trade. If there is any feature you think we missed, don’t hesitate to tell us, and let’s build a better NFT market together.
Our devs are working hard currently as we are preparing a beta release after mid-September, and release all M1 features during October, then M2 features in November. Please be patient for our next updates.
About SCV.finance
SCV.finance is a cross-chain product in Decentralized Finance (DeFi) that provides yield farming, farm portfolio, vault ranking, NFT portfolio, gatcha, and marketplace.
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