Since the beginning of our DEX earlier this year in June, one of the features we were most looking forward to implementing was the NFT Marketplace. From that time up until now a lot has changed in the world of NFTs and launching at this time couldn’t have come at a better moment. Right now, the scene is full of innovation and creativity with plenty of room for expansion. We aim to bring this movement to the KCC ecosystem and grow with it, supporting and encouraging both artist and developer involvement in the NFT community on KCC.
The model for our marketplace comes after analysis and research of many successful marketplaces based on Ethereum and Solana. Likewise our approach to hosting collections takes a leaf out of the same book - we are focused on promoting high-quality projects that excel in artistic value and utility features. We believe that this ensures the long term health of the NFT, metaverse and gaming community on the chain both for investors and to attract future projects.
The market’s native token and traded currency will be $KCS (KuCoin Token), both necessary in terms of unifying the NFT space on KCC and to provide accessibility to users from different chains that are coming to KCC for the first time. The fees from the marketplace are priced competitively at 2% — half of which will be injected into the monthly KUS burn, while the other half being added to the DAO-managed fund for KUSGOV holders. The creators fees are subject to change based on requirements of the project but aim to be in the same range. There is also a 0% fee for users to list and unlist their NFTs on the marketplace.
On December 1st 18:00 UTC we will be minting the Vixen Punks collection via our Launchpad — Vixen Punks is a collection of 2,222 randomly generated NFTs, a gateway into an unfolding metaverse that takes inspiration from old RPGs and current NFT trends. After the collection has been minted it will then be hosted and made available to trade on the marketplace.
Shortly afterwards on December 4th 21:00 UTC will be the mint of the Kardia collection — a collection of 20,164 trading cards part of an upcoming Play to Earn game on KCC. Likewise the NFTs will be minted on the KuSwap launchpad and then the collection will be hosted and available to trade on the marketplace. Kardia is being developed by the same team behind KuAcorn who we have had the pleasure of working with before and are sure to deliver again.
There is still more development to come for the KuSwap NFT Marketplace. Most importantly the addition of a secondary open marketplace — separate to the hosted collections — where any user will be able to create, mint, buy and sell an NFT. The exact logistics and mechanics for this marketplace are in development, for which the emphasis will be on user-experience and community engagement.