What Have We Learned — Terraspaces V2 Overview & Recap
Ok, great. V2 is live. But what does that actually mean?
Read more for a breakdown of Terraspaces’ V2 launch, as we discuss what we learned & what’s next for us.
‘’We’ve learned that it’s okay to experiment & that it’s okay to try out different things.’’
Our mission is to provide value through web applications, design, & blockchain tech.
After about a year of development, from the outside looking in — it’s easy to forget how important laying the foundation is.
Today, we’ll touch on a few key areas from what we built:
1) Market Explorer
NFTs shown: Antisocial Ape Club, Nearnauts, Mara Gen 0, Secret Skellies Society, NPunks.
We know that NFT marketplaces are getting saturated. Fast.
So how can we keep up with the demand for analytics?
The answer feels like a no-brainer: Put it all in one place.
Today, we live in a time where the average attention span is becoming shorter than a GIF; Meaning stronger user experiences in the future will cater to the 3 S’s.
‘Simple, Sweet, & Straight to the point’.
Marketplaces are a traditional storefront for NFTs to buy/sell in the market.
While users are voyaging the internet to find new NFT art, an issue arises where they have to search between multiple marketplaces to discover new NFTs that they like.
We conceptualized a unique way to navigate several NFT marketplaces at the same time, all on one page. This is also commonly referred to as being a ‘marketplace aggregator’. But the name ‘Market Explorer’ comes off sexier. Sorry not sorry.
Our Market Explorer is currently public-access & open source, providing a place online for users to browse NEAR’s catalog of NFT collections with ease.
By sharing on-demand data for popular filters such as:
‘New Collections’
‘Top Marketcap Projects’
‘Trending on PARAS’
This is done by partnering with upcoming marketplaces on NEAR to access their APIs and feature their Popular Collections through our platform, allowing us to aggregate trending collection data across select marketplaces.
2) Referral-Based Commission
Taking a page out the book from successful web2 business models. Referrals have become the internet’s emulation of ‘word-of-mouth’.
Our goal was to create incentive value for participation to be organic.
A successful processing structure should be in place for a seamless referral experience.
So we developed an NFT-responsive referral app that lets users submit referrals.
Normally for web2 businesses, this can be done by 3rd-party software.
So doing this for NFTs, honestly got pretty complicated.
There are a few factors that go into this:
- Qualify the referrals that are submitted in
- Verifying their origin
- Organize contact
- Paying the % of commission to the referrer
Terraspaces NFTs can earn up to max $2000 per referral(40 NFTs staked)
Staking Partner NFTs can earn up to max $1000 per referral(40 Partnered NFTs staked)
By doing so, eligible NFT Collections will now be able to partner with us and offer their NFT holders up to $1000 in referral commission by staking + referring new/existing projects to our decentralized staking platform.
- note: Due to high volumes of referral submissions, Terraspaces LLC is not liable for any pending referrals unapproved.
3) NFT Analytical Dashboard
Many believe that data has become the world’s most valuable commodity.
Analytic tools continue to be a staple in crypto/NFT environments, organically attracting users to leisurely chart their favorite collections.
As we grow, our databases will be optimized to store more data & display more indicators, providing a stronger experience for traders to view trend analytics for NFTs on NEAR.
Using v2 Dashboard, users can view chart indicators for Floor Price, Total Listings, & Volume.
4) Multi-Collection Staking + Farms
As a service, we offer NFT collections the ability to using our platform’s staking contracts.
Providing an affordable alternative to NFT collections in need of developers in order to build staking contracts. This features a soft-stake method that allows read-only data to connect with user NFTs.
With this, it prevents the need for NFTs to be removed from the wallet in order to stake.
Farms
NFT Trait-Based Staking Farm with USN Rewards
Users stake Terraspaces NFTs into farm to become eligible for USN giveaways that vary with base trait.
- note: farms are bootstrapped by NEAR Grant Foundation.
5) Upcoming Drops
Curious of what’s coming up? Who’s hot, who’s bubbling?
View new collections that are coming to NEAR Protocol.
Favorite & Like upcoming Near NFT drops with a click of a button!
In Summary
‘’We still have a lot of work to do. Only this time around, we know what works & what doesn’t.’’
By the time you finish reading this, we will have already started gearing up for V3 launch. Surprise.
Thank you for reading.
This article has been curated by Terraspaces.io.
