Announcing The Introduction of Duo-Token Functionality To The VIMworld Marketplace!
At VIMworld, our mission to innovate, improve and develop value-enhancing additions, for our platform never stops. Our development team works tirelessly building new shiny things for VIMworld and expanding the tools our community has at their disposal. We remain steadfast in our mission to make VIMworld the best, most user-friendly and feature-rich NFT metaverse platform on the planet!
Accordingly, today, we are pleased to announce the mainnet release of our Duo-Token marketplace!
Building A Better VIMmarket
Users of the VIMmarket will be able to buy and sell VIMs using either VET or VEED tokens as currency! This addition to the platform provides greater flexibility for community members and provides better value for the community. ‘How’, you ask?
No More Exchanging
- Users are now credited with feeding tokens straight into their wallets when selling in VEED! No need to exchange VET to VEED and potentially incur costs
- As VEED is the native token of the platform, using VEED is more intuitive and user-friendly
- Allowing trading in VEED should improve the liquidity of the VIMmarket, with more buyers and sellers holding VEED than VET
Arbitrage Opportunity
- VIMs listed for sale in VET may have greater VEED value inside, allowing users to carry out a kind of arbitrage
Adding New Users/User Choice
- New users who may not necessarily have an interest or holdings in VET will have a much more intuitive experience
It should be noted that an individual may only use VET OR VEED during a given transaction, so, a VIM listed in VEED will need to be paid for using VEED and vice versa.
VET or VEED — Choose Your Currency
When the duo-token market function goes live, you’ll be able to choose from either VET or VEED using filter options. For example, when viewing the market itself, you will gain the option to filter by listings submitted in VET or VEED respectively (see below image).
And when listing VIMs on the marketplace, it will be possible to select which currency you intend to use ahead of listing (see below image).
Reduced Fees, Increased Returns
On top of providing greater functionality, we have also decided to reduce marketplace fees for the month of November 2021 as we show gratitude this month for our community.
When creating a new listing for a VIM, after choosing to list in VEED or VET, you will pay 35/70/150 VEED or 2/4/8 VET for 1, 3, and 7 days listings respectively through the rest of November. On December 1, listing fees will revert back to regular pricing of 70/140/300 VEED or 4/8/16 VET.
The success fee has also been reduced from 7% to 4% moving forward. As an added bonus, we are reducing the fee further during the promotional period in November. Any successful sale in the new marketplace will pay a reduced fee of only 2%! It will return to 4% on December 1. The new success fee is only charged following the successful sale of a VIM, no sale no success fee!
Enhancing Value For Stakeholders
By creating additional use cases for VEED we are able to increase demand and therefore the value of our native token. We are continuously evaluating ways to enhance the value of VEED and will keep you updated with these plans in the future. In addition, we continue exploring currency options as well as cross-chain solutions in our pursuit of delivering the best NFT metaverse platform to date!
We hope you’ll enjoy this latest feature — please feel free to come share your feedback and thoughts in our social channels! We look forward to greeting you there.
