The NextVerse marketplace is the commercial environment for all NFT items, where buyers and sellers meet to exchange items through transactions or auctions. The marketplace will use smart contracts to automate the execution of an agreement so that all participants can be immediately certain of the transaction or auction outcome, without an intermediary's involvement or time loss. There are 2 major branches of the marketplace business model in The NextVerse Marketplace, which are Shop following the B2C (business to customer) model and Market following the C2C (customer to customer) model:
- 1.Shop (B2C): The shop function in Marketplace will only list NFT items collaborated between NextVerse and our strategic partners. Users can buy or bid to own items in Shop. The purchased items will be stored in the user's inventory and users can wear them in their full-body 3D avatar, put it on the market to sell, or give it to other users.
- 2.Market (C2C): The market function in Marketplace allows users to upload their owned items on the market to sell to other users. They can take the products off the market whenever they want. NextVerse will ensure trading by maintaining a transparent, low-risk trading platform, instead, NextVerse will charge a fee on each transaction made between users and users. Depending on whether it is a normal NFT or a land NFT, items in the NextVerse marketplace will need multiple pieces of information to be correctly onsite as sellable goods.