GhostMarket NFT Marketplace 2021 Review

GhostMarket came onto the crypto scene in 2020. A non-fungible token (NFT) marketplace and explorer, GhostMarket offers cross-chain support for Phantasma and NEO. Phantasma is a custom-built blockchain and ecosystem and a one-stop-shop for NFTs, gaming, and decentralised applications (dApps), and NEO – an open-source blockchain, dApp and smart contract platform. The market and NFT explorer was designed and created by Ghostdevs, an open-source developer community in the Phantasma ecosystem.

To use GhostMarket for buying collectibles or use other features, you need to connect your wallet. First select a blockchain and choose a compatible wallet. 

Source: GhostMarket

If you simply just want to browse NFT-events, check what’s been minted, transfer histories, sale prices, burning, and dates of token listings then you don’t need a wallet. GhostMarket allows users to log in with any amount of wallets. The account view reflects the combined wallet balances. This enables the user to choose a main address used for buying NFTs, while selling still happens from the individual wallet owning each particular NFT that is being traded on the marketplace. 

NFT trading on GhostMarket is completely trustless and facilitated by smart contracts on each integrated blockchain. This means that as a user, you are able to discover, buy or sell any NFT without the need to worry about exposing yourself to risk of lost funds.

Source: GhostMarket

A nice feature  about GhostMarket is that it brings full statistical and historical capabilities, meaning that users are able to view the entire sales history of a particular NFT since it was created with dates and price fluctuations in an honest and transparent manner.

Source: GhostMarket

GhostMarket does not assert any ownership over user contributions and users retain full ownership of all of their contributions and any intellectual property rights or other proprietary rights associated with their contributions. However, by using the platform, a user agrees that they automatically grant the platform unrestricted worldwide right, and license to host, use, copy, reproduce, sell, resell, publish, broadcast, and distribute your digital artworks or contributions including image and voice for any purpose, commercial, advertising, or otherwise.

NFT trading

GhostMarket uses a Phantasma native smart contract to facilitate trades and the marketplace already works with every existing Phantasma NFT. Using the Phantasma Link dApp connector, a backend service in the Phantasma ecosystem which is very much like that used by Metamask on Ethereum, a user is able to connect their wallet to the marketplace in a matter of seconds. Essentially, Phantasma Link acts as a dApp connector between the dApp, wallets and the blockchain. 

Source: Phantasma

GhostMarket is a great example of Phantasma Link in action because users can simply connect their Ecto or Poltergeist wallet, then browse to find their favourite NFTs and then confirm the purchase in their wallet. For users to be able to minting their own NFTs, the process works pretty much in the same way. There’s no need for a user to give the dApp access to their private keys. All they need to do is simply confirm the minting in their wallet, and the NFT is automatically delivered to it right after. At launch a user is able to instantly connect to GhostMarket and start trading NFTs using both Phantasma’s user friendly, dual blockchain Poltergeist wallet and the Ecto Chrome extension wallet.

Phantasma offers near zero transaction fees. Even bulk buying and selling is virtually free. According to Phantasma, they support bulk buying or selling up to 100 NFTs in a single transaction, with the transaction fee being a mere few cents for those 100 NFTs combined. 

In addition, GhostMarket is also seamlessly integrated with both the desktop and web version of the Pavillion game hub, and can automatically connect to a user’s Pavillion Phantasma wallet. If users wish to, they can even connect NEO wallets on the Pavillion integrated version of GhostMarket.

Source: Pavillion

Fee structure and referrals

GhostMarket charges 2% fees on NFT trades for buyers. There are zero fees for listing an NFT for sale, and zero fees for the seller upon completing a sale. In addition, each user address gets assigned a unique custom referral URL which they can share and every single sale through their referral link earns them a 25% commission of the fees paid (0.5% of the price of each item).

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