Unique Directory

Collateralized NFTs with ability to liquidate if no buyer!

1 follower

Collateralized NFTs with ability to liquidate if no buyer!

1 follower

Unique Directory is a marketplace for collateralized high-quality NFT collectibles, with ability to liquidate if there are no buyers. Uniquttes (a.k.a NFT) can be upgraded with better design, gaming integrations, etc. and increase in value over time.

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Launch tags:Web3

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Might not have a full understanding, but is this just shifting the risk to artists? Buyers feel safer as ETH is locked up in the purchased NFT and can be recovered by liquidating, but artists are paid in a new platform token (UNQ) - what happens if the value of UNQ drops/what if artists want to liquidate UNQ early? (How is the appreciation guaranteed?) Also, I think there is a lot of trust and support for creators as well as belief in the art in the current NFT marketplaces and communities. Art is definitely subjective and long term value cannot be ensured even for non-NFT art. Not sure if this model somewhat compromises the organic patronship of direct sales, by casting the artwork more as a safe investment than art. Would love to better understand if my assumptions are wrong, but currently a bit more concerned than excited for this product.

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5yr ago

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Maker

@jeraldlxz thanks for the feedback. In these early days as much feedback like yours we get the more we're able to shape the platform to benefit both sides, collectors and artists. Ultimately the risk is shifted towards UNQ holders, because as you said if artists decide to sell their UNQ payment early it'll be at all UNQ holders expense, that is why we have an (optimistic) approval process described in https://docs.unique.directory/pr... Our aim is to make holding UNQ more preferred by artists, for various reasons like governance participation, benefit from sales fees of all NFTs not just their own, as an artist be part approval process of all arts submitted: https://docs.unique.directory/pr... we were also thinking about locking rewards for period of time to prevent early selling of UNQ but still open for debate. About the last point when we were looking at current marketplaces usually there's very low appetite to buy digital arts (specially secondary sales) for significant amounts, unless you're already a world famous artist (Beeple) or famous project (Crypto Punks). The goal for us is, if all goes well, to lower the barrier so more people can buy digital arts and feel safe, benefit for artists and art lovers. The key is balance of compromises for Collectors (max price increase limit), Artists (paid in platform UNQ tokens), UNQ token holders (mint new tokens as artist rewards) https://docs.unique.directory/pr... Happy to hear more of your thoughts.

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5yr ago

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Maker

Looking at current NFT space we saw a big barrier to entry for collectors and that is low liquidity, essentially if you buy an NFT that you like but at a later time need to sell it, there must be a buyer otherwise your NFT value is basically nothing. We created Unique Directory to tackle this problem. When you buy a Uniquette (a.k.a NFT) your payment will be kept in Vault as collateral backing your Uniquette, and artists are paid by freshly minted UNQ tokens, which is designed to appreciate in time. Visit our litepaper & docs to learn about how http://docs.unique.directory/ Currently we have launched on Rinkeby Testnet to gather feedback, so we're all ears to hear your thoughts.

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5yr ago

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