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Author Topic: [Official Thread] FreeMarket - 7.77 NXT listing fee & SuperNET revenue sharing  (Read 42411 times)

jl777

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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:
PoofKnuckle 25%
blackyblack1 25%
NXTventure 30%
jl777hodl 10%
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!

The front-end is HTML and JavaScript, and the heavy-lifting is done by a Java program that runs alongside NRS. Integration to SuperNET GUI is planned to be done in the near future.

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 listings

http://nxtfreemarket.com is the official website

James

P.S. I am only now involved as an adviser for FreeMarket and so this is all the hard work of PoofKnuckle and blackyblack1
« Last Edit: September 17, 2014, 05:49:22 pm by jl777 »
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

PoofKnuckle

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Re: FreeMarket - Official Thread
September 17, 2014, 12:11:13 am

 
NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

apenzl

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Re: FreeMarket - Official Thread
September 17, 2014, 08:11:15 am

Breasal

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Re: FreeMarket - Official Thread
September 17, 2014, 02:30:32 pm

First I've seen this...any info?
« Last Edit: September 18, 2014, 04:07:05 pm by Breasal »

PoofKnuckle

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One small correction: shipping options are not unlimited, but will be greatly expanded beyond the three that are available for testing.

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

blackyblack1

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Hope you will like it guys. Beta testers are welcome.

PoofKnuckle

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If you want to beta test, PM one of us here, or use the email address on the website.

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

kodtycoon

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gs02xzz

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Interesting.

Will all data be stored in the Nxt blockchain? I know there is a data Limit on the blockchain. What is the byte limit for each listing and about how many pictures one list can do?
Nxt Mission is to commercialize the crypto technology and build new commerce and society.

PoofKnuckle

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that looks bad ass.. :)

Considering the attention paid to OpenBazaar, which I believe is not even in testing, I hope that the quick release of FreeMarket will bring a lot of attention to NXT.  8)

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

valarmg

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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.

Confirmed. I'll distribute some time tomorrow afternoon, based on assetholders at 1400 GMT.
NXT-CSED-4PK5-AR4V-6UB5V

PoofKnuckle

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Interesting.

Will all data be stored in the Nxt blockchain? I know there is a data Limit on the blockchain. What is the byte limit for each listing and about how many pictures one list can do?

Pictures do not live on the blockchain. I am working on additional material for the website that will explain how this works.

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

Nxter

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This is awesome... and only sorry there is no ICO for this project.

But... why not enhance the current DGS instead of creating a new marketplace from scratch?  ???

PoofKnuckle

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This is awesome... and only sorry there is no ICO for this project.

But... why not enhance the current DGS instead of creating a new marketplace from scratch?  ???

I'm not a core developer, but I'll venture a guess at why the built-in marketplace is for digital goods only: because it can be a complete solution. You can deliver your product using the DGS, I think. It makes sense as a core function, whereas a physical marketplace doesn't, since it has to operate partly outside of NXT, what with goods being shipped and all.

While a physical goods store may not be built-in, that fact that one has been built on top of NXT, and relatively quickly, speaks to the versatility and 2.0-ness of NXT.

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

_mr_e

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With no central servers, where are the photos being stored? Also, is the only part of nxt you are using is asset issuance and AM?
« Last Edit: September 17, 2014, 08:57:16 pm by _mr_e »

PoofKnuckle

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With no central servers, where are the photos being stored?

There is a variety of anonymous image hosting services. The FreeMarket UI includes some guidance on how to pick and use them.

Alternatively, if you don't care about anonymity (and not all users will, some will just come for the vastly lower fees), you can host your image anywhere.

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM

_mr_e

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With no central servers, where are the photos being stored?

There is a variety of anonymous image hosting services. The FreeMarket UI includes some guidance on how to pick and use them.

Alternatively, if you don't care about anonymity (and not all users will, some will just come for the vastly lower fees), you can host your image anywhere.

I see. StorJ would be an excellent hook to use when it is released:)

_mr_e

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So then, how is the actual webpage served up without a central server?

Nxter

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So then, how is the actual webpage served up without a central server?

I guess localhost like nxt

PoofKnuckle

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So then, how is the actual webpage served up without a central server?

I guess localhost like nxt

Bingo.

NXT: NXT-WBVP-83YM-FRB3-9MQLY
BM-NBTVHaA41Ejh2G6krD9p5vM62vk84isM
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