Goobig is happy to announce its participation in the Chainlink sponsored hackathon. The hackathon commences on Friday the 21st of April and runs until the 27th of May 2022.
Goobig will use the Hackathon to present their MVP product; an NFT value optimising tool that will help traders, both buyers and sellers extract more value from NFT transactions.
Over the past 2 years we have seen an explosion in the NFT market. According to the information of ResearchAndMarkets.com and NonFungible.com report the global non-fungible token market is expected to grow from $82.5 million in 2020 to $21.33 billion in 2022.
With these unprecedented volumes, we have seen a number of projects explode in valuation, the most notable would be the Bored Apes Yacht Club collection, created by Yuga Labs. A collection of 10,000 unique pieces of art inspired by our primal friends originally minted for 0.08 ETH each, which was $190 in April of 2021.
Bored Apes alongside other notable collections have led the PFP (shorthand for profile picture) craze that has swept Twitter over the past year. Art enthusiasts, musicians, celebrities, sports stars have joined NFT degens in replacing pictures of themselves with these PFPs, as their Twitter avatars. With every famous face that replaced their own, with that of a digital ape the value of this collection grew and grew; giving a whole new meaning to monkey see monkey do. Today the floor price, (cost of an entry-level ape) sits at over 100 ETH, around $300000 – What started off as a digital art project today is one of the world’s most expensive and thus exclusive clubs to enter. Until now the way you could enter into a project like BAYC would be by purchasing one, which for many people is simply not financially feasible. And this is where Goobig have seen an opportunity.
Goobig will be creating an NFT marketplace that allows sellers to list their NFTs in a way that truly democratises access to the most expensive projects. Goobig is building the first NFT instant raffle tool. The way it will work is very simple. Using the example of a floor price BAYC, the seller will simply list their NFT and set their asking price at 100 ETH. Instead of one person having to pay the entire amount it is broken down into 100 tickets for 1 ETH each. Once the 100 tickets are sold one participant will win the NFT having paid a fraction of its actual value.
Participate to Earn
Whilst the possibility of ownership of an NFT at a monumental discount is appealing with one person winning there is the inevitable another side of the coin, those people that don’t win. It’s here that Goobig has created our Participate to Earn model whereby all raffle participants are rewarded in Goobigs native token. This token can then be used on Goobigs platform for access, which we’ll announce shortly into some truly remarkable opportunities. Ultimately Goobigs aim with “Participate to Earn” is that everybody is rewarded whether they win the raffle or not.
Upon launch, Goobig will also have all the traditional NFT marketplace features, and raffles won’t just apply to the highest value NFTs. Sellers can list NFTs for as much or as little as they like. They can also pick between how many tickets are issued in each raffle, creating a much more flexible and gamified way of buying and selling NFTs.
Goobig currently plans to have MVP available for testing shortly after the hackathon. It is possible to gain early access by joining Goobig’s community using the links below.
Goobig is the UK-born (London-based) crypto startup that launches the NFT platform with a rewards and fees model that truly encapsulates web 3’s core principle of ownership. Founder of Goobig, Dan Nwachukwu, believes that NFTs are a great way to reward people for their creative work and also to help fund the development of new and innovative technologies. Goobig is an online marketplace that allows users to buy, sell, and trade digital assets. The platform uses a rewards and fees model that allows users to keep a portion of the fees they generate from transactions. The team comprises seasoned entrepreneurs and developers who have a shared passion for building Web 3.0 applications.
Goobig owners: Dan Nwachukwu, Leyla Gul.