Mad Mondays: Mad Droids Marketplace
As many of you know, an NFT is a digital asset that represents real-time objects such as art, music and video games. People create, buy and sell digital assets. There are many marketplace platforms on which you can trade these assets. As we have previously discussed, Mad Droids NFTs can be traded on such platforms, i.e. platforms such as Open Sea, among others. However, both the NFT Devs and the Mad Droids NFT you capture can be traded in our Marketplace.
In the Mad Droids website there will be portals that connect to the Store, Marketplace, Inventory, Game, Events, and more. This site, which is a complete platform, is designed to help provide everything the users & players need to interact with each of the different channels of the Mad Droids ecosystem. In this platform, users will be rewarded for their activities in a variety of ways. They can earn credits and points within the application that can be used to access different perks and benefits. This is to provide a simple user experience, where everything is accessible, on one single platform.
When it comes to our tokens, both the fungible and non-fungible Mad Droids tokens, will be on the Ethereum and Avalanche blockchain. They can be easily integrated and used outside of the platform elsewhere in the Metaverse. Examples of this could include other listings and uses on decentralized exchange platforms, centralized exchange platforms, NFT marketplaces, games, decentralized apps, and more.
Buying, Selling, Trading and Renting
The Mad Droids Marketplace will be the primary place to exchange assets, which includes buying, selling, trading and also renting. Initially, the Marketplace will allow users to browse and trade all assets that are in the chain, including the following NFTs: Developers, Droids, Containers and Objects. Future iterations could include a public marketplace for in-game resources and certificates. Credits and points within the application will be non-transferable and tied to the user’s account.
Something that has been talked about quite a bit and games like Axie infinity have, is the Scholarship system. This aspect will be fundamental in Mad Droids, but it will be done in a special and quite smart way. The owner of the Developers NFT can use a sliding scale to determine the percentage of performance they would like to share. For example, it could be 70% for owners and 30% for grantees or 70% for grantees and 30% for owners. This model will allow NFT owners to determine the rate they feel is fair through a simple user interface, which is automated by smart contracts on the backend. It will only be those two parameters, and will include percentages, holding periods, and fees. As the owners of the NFTs are the ones who assume the highest value risk, they reserve this right to cancel the contract. To make this process as transparent and fair as possible, rewards will be split based on the rate chosen at contract initiation. This allows a little more protection for grantees or lessees, to prevent them from contributing their time and effort for nothing.
The Fees
As you know, all marketplaces have certain fees for using the platform. For example, Open Sea has a 2.5% rate, and also allows the user to set the amount of royalty percentage. We at Mad Droids will also have those fees, Mad Droids is exploring a 5% market rate that will use 2.5% to burn both DROID Tokens and MAD Tokens. If transactions use another currency such as ETH or AVAX, at the end of each month there will be a buyback and burn. This means that 50% of the total monthly fees of 2.5% will go to buy the DROID Token on the public market and then burn it. The other 50% of that 2.5% will do the same process for the MAD Token. The remaining 2.5% of the market fees will be used to hold and scale trades.
Containers, Items and Upgrades
Both the objects used in the game and the containers can be sold in the Mad Droids Marketplace. As we talked about in another article, the Mad Droids will be able to level up, and for this each Developer has the possibility to upgrade and also acquire parts and equipable items. Each of these items will provide different benefits in the game and specifically in different modes, so players can customize their Developer to fit their game strategy. As with containers, these equipable items can be crafted or minted with in-game resources and MAD Tokens. As each piece is also an NFT, they will be tradable in the Mad Droids Marketplace.
There are many new features on our website, and we will be explaining them as the weeks go by. Also stay tuned as the website is constantly being updated. In our next edition of Droid Talks 🤖 we will dive deeper into this aspect. Don’t forget to send us your questions! They are always important and help us grow🦾!
You can drop your questions here: https://airtable.com/shra8nyvEZ1ztyrjF
