FreeMarket is a project that has been underway for a long time. With my workload it was decided that it would be best to have somebody else do the non-web part and blackyblack1 stepped up to fill this role. PoofKnuckle has been working all these months to get the HTML side done and now with SuperNET gearing up, it is a good time to finally issue the asset.
20% of FreeMarket listing fees will go to SuperNET.
NXTventure is the issuer and the assetid is 134138275353332190 a NXTventure dividend of 1 Freemarket for each 10 NXTventure will be sent out this Thursday based on 1400 GMT assuming valarmg can confirm this. The assets are initially distributed as follows:
NXTventure assetholders 10%
I do not plan to sell any FreeMarket assets for a while and I dont think either of the other two will be selling much, so the NXTventure dividends are the only assets that will be available for some time. This project is not completed yet, but with a beta release available for people to evaluate it with, it should be possible to make an informed decision as to the potential number of listings.
With the 80% of listing fees being 6.216 NXT, every 160,000 listings will create 1 million NXT of dividends.
The following is a description for FreeMarket:
FreeMarket is built, and ready for beta testers!
FreeMarket works by creating and later scanning arbitrary messages. As a result, it’s not quite a database, in that we can’t edit previously created AMs, so we have to make new AMs that override the previous ones. Also, since it all runs on the NXT blockchain, a new item or a sale can take over a minute to properly show up.
FreeMarket has several advantages over options like eBay:
- There is no need to register and give up any personal information
- There is no third-party payment processor
- Fees are very low; with our listing fee set at 7.77 NXT, a complete sale only costs about 10 NXT once you include fees for NXT AMs
- You can pay with NXT
- The NXT blockchain makes FreeMarket resistant to takedown
- No centralized servers anywhere; FreeMarket does not require centralized administration
- Custom-built to support the sale of physical goods, unlike the DGS
- Allows for photos in listings
- A simple, pleasant UI
- Allows for unlimited, buyer-selectable shipping options, each with a separate fee (this is limited to three options right now, but will be changed before release)
- Messages between buyer and seller, as well as shipping address and shipping method, are encrypted
- Items can be searched by category and up to 3 optional tags, as well as item title, seller ID, and item ID
- Listings can be canceled
- Sellers have the option of accepting or rejecting a sale
This is just the first version. Planned features include:
- A buyer and seller rating and feedback/reputation system
- Multiple quantities of an item in a single posting (this may be implemented in the first version, time permitting)
- Other options for additional fees, such as a start page with featured listingshttp://nxtfreemarket.com
is the official website
P.S. I am only now involved as an adviser for FreeMarket and so this is all the hard work of PoofKnuckle and blackyblack1