GhostMarket is an explorer and cross-chain NFT Marketplace based on the Phantasma and NEO blockchains. This platform allows users to discover, create, buy, and sell NFT collectibles. The main goal of this project is to help artists by creating a marketplace where they can display their NFTs without paying marketplace or listing fees. GhostMarket was founded in 2020 by Vincent Geneste.
Users must have a Phantasma or NEO wallet to interact with the platform and utilize its features. The wallets help in transactions like selling and transfer of tokens, viewing their listings, or minting. The NFTs in the platform are infused with assets like NEO, ETH, or SOUL, which the user adopts after minting and can withdraw. However, some of the platform's activities like browsing NFT events don't require a wallet.
At GhostMarket, creators have two ways to sell their NFTs, i.e., through an auction procedure or utilizing a buy now function. Users pay 2 % of the amount they sell an NFT to the marketplace, but they are not charged any listing fee. The NFT original creator has the autonomy to request a fee on the final sale amount, but it is not compulsory. Additionally, the program supports a referral program. When a user refers a friend to the marketplace, and the friend buys an NFT, the user receives a reward from GhostMarket. The user gets 25% of the fees charged by GhostMarket for sales to the referred friend, the buyer.
GhostMarket utilizes a Neo2 smart contract for users to trade, auction, and buy any NFT's available on the Neo blockchain. This feature enables all willing Neo ecosystem projects to contact the Ghostdevs community and be integrated into the marketplace.
GhostMarket gives an artist a new alternative to distributing their content while interacting with fans. In the process, artists like musicians have an alternative approach to use non-fungible tokens in deriving revenue from their artwork or music.
The GhostMarket website highlights some features which are essential to the community i.e.
- Create NFT- enables creators to embed their artworks with the NFTs, to be accessed in the platform.
- Marketplace- this is the section of GhostMarket that shows all NFTs available, artists, recently added bids, the ones that are ending soon, lowest mint, hottest offers and highest price.
- Activity- shows all the events in the platform, i.e. NFT's minting, listing and infusion. The section also displays the last bids and sales made, including the highest sales
- Statistics- shows the recent sales which are complete and the amount generated.
The platform supports a community called Ghostdevs, made up of open-source developers in the Phantasma ecosystem. The cross-chain support made of Neo and Phantasma blockchains provides a platform supporting multiple networks. Additionally, the platform has an uMint NFT Factory dedicated for users to mint custom NFTs. The minting of NFTs by artists gives them more control over the distribution and sale of their artwork since they maintain their rights to their content and ratify the art, increasing its value as a limited edition item. They also bake in a royalty fee after minting an NFT. The royalty will distribute that fee to the art creator in any NFT sales made in the future, enabling the artist to continue earning revenue.