When did NFT Markets become Service Centers ?
We like to think originally, and we like to solve problems.
Let’s talk about our problems. Bringing problems to light can be stressful. It can be hurtful. Most often digging deeper, uncovers root problems which can be difficult, but the effort almost always ends up at the same place. A core solution.
Not facing problems almost always end up at the same place. More problems.
We at Cardinal Entertainment are serial problem solvers. Analyzing, building and designing systems is a constant cycle of creating and uncovering deeper problems. Why would anyone want to do that ?!
We believe there is always a solution to a problem.
The trick to it, proposing a solution, it may not be the best or only answer, but it opens room for innovation, iteration and improvement. We believe this is how engagement, excitement and social glue is made. We as people are excited by the unknown, but we don’t want to be scared by it.
Our approach to problem solving is calculated risk taking, present a solution and improve on it, until we get it right.
The ZOOM ERC20 token released on the Moonriver blockchain has problems.
Some may say it has many problems :) but let’s start with the obvious, the ZOOM token has a runaway inflation problem.
The design of the ERC20 ZOOM game token has this fundamental design:
- token minting is controlled by Zoombies NFT contract actions.
- token burning can be controlled by Zoombies NFT contract actions
The rate of inflation has quickly outpaced any sort of deflationary actions and we think we can solve this for the health of the system and as a value driver.
The ZOOM economy service centers
In previous posts we have discussed in depth a deeper engaging economy that would allow for seamless movement of the ZOOM token and Zoombies NFT through a gamefied universe of strategic, fun, economic gameplay.
After extensive open beta testing, the first of these service centers is ready to go live.
Moonriver ZOOM market
In development for over 3 months, the ZOOM Market will open a new Zoombies community service with the goals of:
- managing ZOOM inflation
- trade market tailored for the unique needs of an infinite NFT collection
- generating past sales data
achieved by the following features:
- scalable ZOOM burn fee range. 0 to 1,000,000 burned per NFT listed.
- support multiple ERC20 tokens for bid
- support for external NFT collections to incentivize ZOOM burning
- support for Royalty payouts for non-Zoombie NFT collections to incentivize ZOOM burning
How does the ZOOM Market work ?
The Zoom market is a commission-less market. This means that when you sell an item, you NEVER pay a commission % to the market on the successful sale of your NFT(s). When listing, you are however required to burn ZOOM tokens. The ZOOM burn fee is variable and will be relative to the supply of ZOOM available. This mechanism is in every ZOOM holders best interest to collectively manage the total supply.
When you create a new auction Listing, the ZOOM market offers 2 types of auction:
Instant Auction
An Instant Auction will close upon the first and only bid. It will never expire, but can be closed by the listing owner at any point by choosing to “Settle” the Auction. To create a new Instant Auction Listing, select “Now” from the Auction Expires choice.
Timed Auction
The other type of auction option is a Timed Auction. A timed auction will award the highest bidder at the moment the auction ends. You can place a bid any time and even outbid yourself up until the end moment. All new bids require an increment by the currency requirement.i.e: 0.001 MOVR
Timed auctions can have a maximum time period of 2 weeks.
Screenshots from Moonbase Alpha open test
Come join this journey for the Open beta ZOOM Market as we prepare for live launch.
Stay in touch through our official Cardinal Entertainment Discord and Twitter for updates.
