Kryptomon — Marketplace Launch
Hello trainers, welcome back to the wonderful world of Kryptomon. With the game launch right around the corner (13th of December 2021), we’re sure you’re all eager for more details and sneak peeks into what exciting adventures await you. Fortunately for you, there’ll be an AMA session on the day itself for you to throw any questions you might have Umberto’s way!
In this article however, we’ll be diving into another feature that I’m sure all of you are just as excited about— Our very own Kryptomon Marketplace!
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The Kryptomon Central Hub
A long long time ago (September 2021 seems so long ago now…), we released official word that our very own marketplace was in the works. With major kudos to our amazing CTO Chris, Version 1 of the marketplace is finally ready to be released to the general public!
Though the reasoning behind why we needed our own marketplace has not changed since then, we’ve had to adapt and re-prioritize the features we initially set out to build based on the feedback we received from the community. So! Which features made the cut for Version 1 and which are coming soon?
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Buy and Sell with KMON and BNB
The marketplace will allow trades in both KMON and BNB. In the future, we might consider rolling out support for trading in more cryptocurrencies but the main marketplace currency will always be KMON.
In an effort to make the Kryptomon Marketplace the best place (a true central hub) for all things Kryptomon, the transaction fee for trades conducted on our marketplace will be set at 4% for all trades conducted in BNB. Given that many major NFT marketplaces today charge a flat 5% fee for all trades (even our partners tofuNFT and Mochi do this), why wouldn’t you choose to buy, trade and sell your Kryptomons on the Kryptomon marketplace?
If that wasn’t enough, to encourage the use of KMON (more use cases for KMON!), trades conducted in KMON will receive a discount on transaction fees and see only 3.65% being charged! Why pay more when you don’t have to? 😉
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Search And Bid On Kryptomons 🔍
At the moment on our partner marketplaces, the only eggs you see are those that other trainers have made available for sale. But what if you’re looking for a very specific combination of physical and elemental genes and can’t find it on the market?
With the Kryptomon marketplace, we wanted to make it such that trainers could easily find any Kryptomon/Kryptomon egg, even if it wasn’t available for sale! Featuring 27 different filters and the ability to search for a Kryptomon directly with its ID, the new marketplace gives trainers the ability to do exactly that.
In addition, trainers will now be able to place a bid on the Kryptomon they have their eye on, regardless of if the owner had put it up for sale. It’ll still of course, be up to the owners to decide if they want to accept or reject your bid, but this at least means you no longer have to type in your buy message on the main Telegram channel and hope that the owner sees your message.
Note that being able to search for all Kryptomons using specific filters and see if they’re available for sale also gives the ability for interested breeders and traders to quickly determine where there might be an oversupply of a particular type of Kryptomon, or where there is low supply but high demand. 😉 This will act as a signal for breeders to determine what type of Kryptomons they should breed and sell.
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Find only Kryptomons that are for sale 💰
If you’re in a hurry and didn’t want to go through the nerve wrecking ups and downs of placing a bid on a Kryptomon, don’t worry, we’ve got you covered too! Simply hit this nifty little switch on the top right hand corner of the screen and the marketplace will now only show you Kryptomons that have been put up for sale!
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Did someone say… loot boxes?
Loot boxes are now available for sale on the marketplace! Trainers looking to buy them however, should be aware of 2 key points:
1) Loot boxes will not be viewable or useable until the game launches
While your wallet has stored the information that you own loot boxes, the ability to see and unlock them for the goodies they contain will only come on the 13th of December 2021 when the game launches!
2) Loot boxes cannot be traded or sold
Trainers will always have the ability to purchase loot boxes via the Kryptomon marketplace, so there is no resell value in holding loot boxes. They are meant solely as a means of acquiring the necessary items to properly take care of your Kryptomons.
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That’s right! Chinese and Spanish Kryptomon trainers will soon be able to view the marketplace in your native languages as the team are hard at work on a Chinese and Spanish translation for the marketplace even now.
Though this functionality won’t be available at launch, it’s definitely in the cards and will be something that comes sooner rather than later.
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Transfer For Free 🎉
A large barrier to entry was the inability to transfer Kryptomons between wallets. Let’s assume that you’ve convinced a friend to give Kryptomon a go and you’d like to give him one of your Kryptomons to start him off.
Previously the only way of doing this was for you to sell him your Kryptomon on one of our partner marketplaces for a high price (so that no one else snaps it up immediately) and then return to your friend the funds used to “buy” your Kryptomon. Not only did you have to pay gas fees for 2 separate transactions, you also paid a fee to the marketplace for buying an egg.
To curb this, egg transfers between friends or people you trust will be free while using the Kryptomon market. You’ll still have to pay gas fees once (since those go to the BSC and isn’t something we can control) but it’ll be a much more streamlined process compared to what it was before.
Simply head on over to the My Assets tab to find all the Kryptomons you own. Hit the “Transfer” button on the Kryptomon you’d like to give to your friend and know that you’ve done your good deed for the day in bringing one more trainer to the Kryptomon family.
Did we also mention that we don’t charge to list your Kryptomons for sale and for cancelling those listings? You can do those for free! (besides gas fees of course)
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As most of you are no doubt aware, the BSC has been congested as of late. This has in turn caused Subgraph, the blockchain indexing tool of choice for all NFT marketplaces (including us) to suffer delays of up to 50 minutes.
What does this mean for users?
Trainers can still initiate and complete transactions (eg: buy, sell, bid or transfer Kryptomons). However, the delay in indexing blockchain data means that the marketplace won’t know this has happened until much later.
To reiterate, the Kryptomon that you’ve just attempted to buy has been bought successfully! It’s sitting safe in your wallet waiting for you, though it won’t appear on your My Assets tab until some time has passed.
Unfortunately, this isn’t something that we can control and is a problem suffered by many projects across the BSC. At time of writing, the indexing delay is up to 34 minutes and we’ve included a banner on the top of the marketplace to keep trainers updated.
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The Show Must Go On!
Despite the congestion issues with the BSC, we’ve decided to proceed with the launch of the Kryptomon marketplace as planned. We simply ask that trainers be aware of the indexing issues and to stay patient after initiating a transaction.
This marks an important step forward for all of us in the Kryptomon family. As detailed in this article, we’re now in control of our own fate. Not only can we focus on building out features that will best benefit our community, the funds received from the transaction fees will be put to use in order to further improve Kryptomon!
As usual, let us know your thoughts and feedback on the new marketplace on our social media channels. What is the ONE feature you think we should focus on next that would have a huge impact on the marketplace?
See you in game, fellow trainer. (Only 3 more days!)
PS: A huge shoutout to the small team of beta-testers that have been hard at work testing the different features over the past week!