VIV3 is the first general marketplace on Flow blockchain. The marketplace was founded in 2021 to help users shift from physical to digital ownership of assets. Since it is built on Flow, the platform performs in a highly scalable, compostable manner while maintaining decentralization. The VIV3 development team comprises developers from different regions such as Paris, France, and the US, which brings a mixture of technology and culture to this project. This project was launched in 2021.
VIV3 platform uses Non Fungible Tokens (NFTs) to represent their digital creations on the Flow blockchain. A unique NFT token designates each creation. Artists, game studios, and brands, therefore, use it to mint the unique tokens. Collectors purchase these NFTs, digital asset traders, gamers, and fans. Once creators do their work, they display it on the platform, and interested parties mint the work from the owner's blockchain smart contract. Application in the Flow ecosystem integrates directly with contracts from individual artists. New use-cases are built on top of each integrated asset or collection, allowing room for new experiments. Since the marketplace is based on the Flow blockchain, Users utilize FLOW tokens in their transactions. They, therefore, must have a previous holding of FLOW-tokens to be able to interact on this marketplace.
Using the platform's Smart contract deployment, the blockchain minting and transaction fees are covered by VIV3. Creators, therefore, have the freedom to create artwork and continue benefiting. Once their assets are sold, Creators earn 87.5% from the direct sales. Buyers pay 12.5% of the amount they spend on artwork as commission to the marketplace, which is lower than the 30 to 50% fees paid in artwork galleries. The platform also allows creators to earn from their work after they have sold them through secondary selling of their assets. When their assets are resold, they earn 10% of the amount.
Here are some of the features highlighted on the website:
- New releases- There is an outline of the newly released artworks and their creators and the status of whether sold or not.
- The past dropped artwork.
- Special drops from Ben Mauro's Evolution - There is a display of information on the price, number of editions available, the artist, the owner, and information on the actual NFT.
The platform is therefore built on a community of fans, traders, collectors, and gamers. They interact on the VIV3 platform, mint artworks, and list them for collectors to sample. Collectors purchase them, and in the transaction, every party benefits. The VIV3 is an open marketplace, and any interested individual can access the platform and display their artwork. The Flow blockchain platform has partnered with Ben Mauro, who is a concept design artist. His collectible card games are therefore available at the VIV3 platform under Ben Mauro's evolution. The collectibles are minted and traded on VIV3, purchased in packs. The packs are sold in collectible card packs, provided in three common, rare, and legendary classes. So far, the packs have generated more than US$2 million from the selling of NFT.
VIV3 is the first NFT to be based on the flow blockchain. It uses FLOW tokens which are Ethereum based. The blockchain is open for any interested individual to mint or collect artwork. The VIV3 Community continues benefitting while enjoying being.