Introducing Gotcha.gg - A Binance Smart Chain NFT Marketplace, to Buy, Sell, & Mint NFTs

Gotcha is a comprehensive NFT marketplace with the ability to mint new NFTs. It is built to support current and future generations of creators in art, music, gaming, and dapps.

By
BSCNews
on
May 10, 2021
Category:
Sponsored

Why did we Gotcha? 

NFTs are not new, they've been around since ERC721 was first released, cryptokitties being the prime example. What made these virtual assets non-fungible is that they represent unique virtual assets online, similar to physical collectibles such as canvas art or antiques. NFTs are a digital version of collectible items. Now we are in 2021, and with the explosive growth in NFTs, the Ethereum network is once again congested as multiple NFT marketplaces surface on the Ethereum network. These issues have proven to be a poor user experience due to the following reasons: 

a) The cost of transactions on Ethereum, which can sometimes reach $100+ per transaction. This impacts buying, selling, and minting new NFTs.

b) The wait time for transactions can take several hours to do something pretty simple caused by fluctuating congestion.

These two factors particularly have reduced the accessibility for people to mint, purchase, and own NFTs. It decreases the ability of creators to increase the adoption of their creations. The Gotcha NFT Marketplace has been built on BSC (cross-chain at a later date) to improve the user experience, reduce transaction fees, and designed with a user-friendly interface that services the growing use cases of artists, musicians, video makers, dapp developers and game creators. Anyone who wishes to mint, buy or sell NFTs can do it with ease on Gotcha without worrying about the speed of transactions and transaction costs.

Gotcha was built to address these usability problems starting with a comprehensive and fully accessible marketplace platform. The platform has an exciting roadmap to address, defining future uses through constant innovation.


What’s in the Initial Launch of Gotcha?

1. Gas Optimised Buy and Sell of NFTs 

Trading on Gotcha is a trust-minimized process.  In other words, you don’t have to trust Gotcha or your counterparty to behave honorably.  You can buy and sell without fear, relying on technology instead of reputation to ensure that things turn outright.  The technology we use allows users to directly o buy and sell digital assets with their peers, all without relying on escrow or trusted third-party payment processors.

On Gotcha, deals are atomic. That is, either the whole deal happens or none of it does.  In short, Gotcha allows strangers to say to one another, “if you do that, I’ll do this” without worrying about who should go first.  

There are multiple ways to buy/sell - Gotcha will provide many selling methods for the marketplace, such as fixed price, English auctions, and dutch auctions with support to sell multiple NFTs.

2. Verified Creators 

We have created a process to verify creators on the marketplace, provide an increased level of trust and authenticity for marketplace users. This feature allows users to know what is being purchased has been created by someone verified. You can filter for verified creators to see them all. 

3. Minting NFTs & Collections

Gotcha fully supports the creation and sales of NFT collections. Single NFTs are also supported for creators. We'll mint the NFTs on IPFS (with an initial file size limit of 20MB), decentralized, secure storage, making the whole process simple for creators and ensuring that the NFT can't be tampered with. This will provide comfort for any buyer, knowing that the digital asset will always be there. 

Gotcha will support ERC721, enabling creators who wish to generate metadata for their NFT to add them, and we support multiple data types during minting. Creators will also be able to specify future rev share and the token in which the sales are made, providing continuous future revenue streams for the creator.

4. Low Fee Marketplace

a) Gotcha provides the infrastructure for the marketplace for free; anyone can use it to list and purchase. It’s entirely free to get started and set up your own space. To support the running costs of Gotcha, we will have one of the lowest sales fees for an NFT marketplace at 2.5%.

b) Low transaction fees and operation on Binance Smart Chain (BSC) reduces the transaction fees for all users of Gotcha. Minting NFTs, making bids, and listing items will be much cheaper.

5. Data Analytics

For professional NFT creators, it is vital to understand how their creations are performing, which ones are selling, reselling. For buyers and sellers, historical data will be provided on prices, transaction details, and the trading history of any NFTs. This provides a useful tool to generate insights for all Gotcha participants and help them either mint in demand NFTs and help with purchasing/selling decisions.

6. $GOAT 

$GOAT is the governance token used by the community to decide how the Gotcha marketplace evolves, what features to prioritize, and to shape the future of Gotcha. Creators, buyers, and sellers will receive airdrops of $GOAT for using the marketplace, allowing our most active users to have a decision on the future development of Gotcha. This ensures that the users of Gotcha will be the ones who receive the $GOAT token and influences its future.


Future Roadmap 

We previously published a roadmap article, where we looked at the potential of building on top of DeFi and media legos to continuously innovate Gotcha on top of the composability that blockchain provides. We will also be staying on top of the latest NFT innovations such as ERC2039 to support more efficient batch minting of NFTs, as well as adding more features to the marketplace, so feast your eyes on the article to 

see what's coming next.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

For those who wish to learn more about the platform, check out the following resources:

Website 

Discord 

Telegram 

Medium 

Audit


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