What is Treasureland? To answer that let’s talk about what the NFT landscape currently looks like. The NFT space has taken off in the past year. Several celebrities like Tom Brady, Mark Cuban, Eli Manning, Peyton Manning, and various others have joined in on the NFT craze. In February, the average price of NFT spiked quite significantly hitting around $4,000. The craze has now died down a little, averaging aat around $1,500. In early March, the space also achieved a record high volume of sales hitting 80,000. The platform gained additional popularity when Beeple’s artwork was sold for close to $70 million USD on Christie’s auction. Other platforms like NBA Top Shot, OpenSea, and other platforms have likewise gained widespread popularity among the industry. The space has definitely received widespread popularity and recognition by the public.
A Brief Introduction...
The NFT space has taken off in the past year. Treasureland is a multi-chain NFT marketplace which will allow users to mint their artwork and list it on Binance Smart Chain (BSC). The Treasureland NFT marketplace is actually a spin-off from the developers that were behind DEGO. DEGO was launched back in September of 2020 and focused on building cross-chain systems. The launch of Treasureland V1 was actually a part of DEGO’s Q4 2020 roadmap. At the beginning, the platform utilized Ethereum, however, it later transitioned into BSC after several users complained about the high gas fees. So with BSC, the users are able to enjoy much lower transaction fees.
So what exactly does Treasureland do differently?
Treasureland is similar to many traditional NFT marketplaces, however, DEGO further explores the applications for NFT technology. Their platform offers a unique blend which includes:
- Stand-alone but open NFT ecosystem that allows anyone to issue NFT, initiate mining, auction, trading, etc…
- NFT Protocol that acts as a cross-chain Layer 2 Infrastructure to Blockchain projects for user acquisition, token distribution, and various diverse NFT applications
How does it work on Treasureland?
If you’ve seen how other NFT Marketplaces work, there are various ways which go from the latest bid, remaining time of an auction, etc… With Treasureland, the users can see the current price of the artwork and a basic approximate USD value (depending on cryptocurrency current market rate). In addition, they provide more information on the page which includes the ID number, the block number in which the NFT is minted, the time of creation, and a link to the owner and seller.
Let’s look at a specific NFT example on the Treasureland marketplace. Below is an image of “葡萄”. When selecting an NFT, the user can see everything necessary about their NFT which includes the price, the seller, the block number, the creation time, and more.
How can I buy NFTs on Treasureland?
To buy NFTs on Treasureland, you can only do so by holding the supported cryptos to trade. The platform as of right now, currently supports BNB. So if you would like to buy NFTs on Treasureland, you must hold BNB.
What about selling NFTs on Treasureland?
To sell an NFT on Treasureland is simple. You just need to go to your available NFTs for sale and simply “Unlock for Sale”. Once that is done, you will just need to approve it on your MetaMask or whatever wallet application that you are using. After the transaction goes through, the button will change to “Sale”. Then just press on the “Sale” button and input your price of the NFT. Simply, hit “Confirm”. You will then be able to see your token visible under the “On Sale” tab.
*Note that a gas fee will be taken depending on the network
Any fees I should know about?
Before you make any trade at any NFT Marketplace, you will be charged a commission. The Treasureland Marketplace levies a transaction fee or gas fee. As mentioned above, one of the biggest reasons why Ethereum has been so hated was due to the high gas fees. That is also the reason why Treasureland transitioned to the Binance Smart Chain. Hence, the fees are a much smaller issue.
Check out more!
Swiss bank UBS is reportedly exploring to offer cryptocurrency investments to wealthy clients. This move comes after more investment banks, including Goldman Sachs and Morgan