Published on: 23/08/2022
Bullieverse launches new NFT marketplace
A 3D metaverse gaming platform, Bullieverse, announced the launch of its asset marketplace this week. The team confirmed via a post that the move was made to leverage the project’s economy.
Assets will be priced based on the team’s economic model instead of factors such as “market demand and rarity” often found in popular marketplaces.
The Bullieverse team also explained that community members and holders of the Bull NFTs would all be exposed to commercial and strategic advantages on the platform, namely lower fees for sellers and possible asset value upgrades. The team claimed that a low-level Bull NFT could now reach higher levels or will be valued better over time. Users may also “buy and create value” for their assets via “high-quality gameplay”.
More on Bullieverse’s marketplace
In the release, the team placed a heavy emphasis on differentiating its marketplace from other marketplaces, primarily OpenSea. Setting itself apart from its famous counterpart, the team shared that the move was due to “more volumes” that can be brought through the in-house marketplace. Additionally, it was due to popular marketplaces “unbundling rather quickly”.
“We believe this is the future. It is not alright to list a high-quality art NFT collection, with a cheap derivative all on the same platform without any curation or quality criteria,” the team wrote.
“Marketplaces must also start focusing on targeted audiences with high-quality assets to provide sustained value to all those involved. We believe we have a niche play, and our community deserves bespoke value addition that mainstream marketplaces will struggle to provide.”
There were also concerns over expensive transactions and royalty fees on OpenSea, which the team saw would not benefit sellers. OpenSea will charge 2.5 percent for both transactions and royalties. Whereas in Bullieverse, the marketplace only features 2 percent for transactions and an additional 1.5 percent for royalties.
Upcoming economic model
The release of Bullieverse’s marketplace was the first step of the team’s grand plan to set up its new economic model. Following the launch of Bullieverse’s first gaming title, Bear Hunt, in Q2 2022, the team plans to release a more user-centric economic model for the marketplace.
While there is no time of release yet, the team shared two main aspects underlying this model, such as NFT leveling and battle passes. The former will reward Bullieverse’s NFT holders with an “over time” value increase of their assets. Meanwhile, the latter will allow users to buy and create assets in the marketplace.
This was made possible as, unlike OpenSea, Bullieverse’s marketplace does not decide pricing based on the demand of the market and item rarity. Instead, pricing is based solely on Bullieverse’s economic model.
“We believe this big differentiator will help this product stand out. As we expand our economy across not just the assets created by the Bullieverse team, but also other creators, the marketplace will play a critical role in ensuring these creators get compensated in line with the value they create on Bullieverse,” the team explained.
Celebrating the launch of its new marketplace, Bullieverse has announced a 24-hour limited sale of Bullieverse-themed loot boxes, available for purchase with its native currency, $BULL. Users may trade and sell assets with $BULL on Polygon for in-game rewards and utilities.