Creating a fully decentralised NFT marketplace

Unique network, an advanced NFT and gaming chain in the polkadot ecosystem, has set a precedent in recent weeks by decentralising their first NFT marketplace.

On September 1, Unique Network took a snapshot of all the addresses that own at least one Substrapunk and one Chelobrick and distributed 50% of the marketplace’s commissions to all 317 addresses, approximately 50 KSM or $21,500 divided equally.

Creating a fully decentralised NFT marketplace

As the first live NFTs in the polkadot/kusama ecosystem, Substrapunks were lapped up initially during the Hackusama 2020 hackathon. Now with the announcement from founder Aleksander that they will distribute earnings from the marketplace to the community there is a renewed boom in demand for these punks and the second collection of NFTs, known as Chelobricks.

To enjoy this distribution of value between the community you must own at least one Substrapunk and one Chelobrick.

In 2020, the Unique Network developers created the Substrapunks, as an homage to the now famous Cryptopunks. 10,000 unique character images were created with a brand new set of face parts. Substrapunk images are auto-generated from 8 parts. Some of them are optional (like a beard or cigar), some are required (like the face). Some are uni-sex (like earrings or noserings), but some define the gender of the generated character (like lipstick or blonde hair for girls or a beard for boys).

They are the first live NFTs of the Polkadot ecosystem, just like the Cryptopunks are on Ethereum, and were given away to anyone who claimed one. Built from scratch on Substrate, they benefit from easy customization, interoperability, and scalability across the entire Kusama and Polkadot ecosystem.

The Chelobrick Collection saw all 10,000 unique, randomly generated, brick-based characters claimed in less than 20 hours at the Polkadot Decoded event , underscoring the consistent global demand for the NFT sector.

“Decentralization needs to be done carefully and we want to focus on that after Unique is live. We welcome the discussions on how the community would like to do it. Who should be defined as the community, who should run it and how and what should be listed,” says Alexander Mitrovich, CEO of Unique Network.

It is believed that the requirement to own NFTs from both collections will encourage decentralization of their ownership. The remaining 50% of the commission will be kept in the Treasury for development of the marketplace and future games with the collections listed on the platform.

The future of NFTs lies in the hands of the beholders.

To view the Substrapunks and Chelobricks visit: https://unqnft.io/

Author: Lisa Gibbons

LinkedIn: https://www.linkedin.com/in/lisa-gibbons-ireland/