NFT marketplace Oases announced its mainnet launch on August 24, 2022.
Oases is a non-custodial, on-chain NFT marketplace built on Ethereum that supports truly decentralized trading and facilitates the minting and trading of NFTs between creators, investors, and brands.
Oases 1.1 features the Advanced Trading Mode, allowing sellers to list their NFTs on Ethereum and buyers to trade directly by calling a smart contract. In this way, it realizes truly decentralized trading with orders being executed on the blockchain, reflecting the decentralization spirit of the Web 3.0 space.
The innovative and ambitious NFT platform announced its beta launch on June 15th, then hosted a testnet campaign for early users to submit their feedback.
Hundreds of users participated and claimed the reward, despite the bear market. A clean and easy-to-use interface and smooth NFT creating and listing experience are among the most common feedback collected.
Besides the Advanced mode of listing directly on Ethereum and other standard functionalities that you expect from an NFT platform, Oases 1.1 also guarantees Instant Royalty Payment.
The customizable royalties (0~50%) from secondary market sales of NFTs will be distributed to the creators via on-chain transfers immediately after a deal is executed, requiring no waiting time and protecting creators’ interests.
The platform also provides a Batch Order Cancellation feature allowing users to delist multiple NFT orders all in one transaction, saving significant amounts of gas fees.
Smooth and decentralized NFT experience
Devoted to constant innovation and the designing of new features to remove pain points users had to face before, Oases is set to introduce its main feature of Oases Seedpad to NFT projects and buyers shortly after its mainnet launch.
The Seedpad feature is designed against the background that most current NFT sales cause users to intensely fight either for whitelist spots or the NFT itself.
Since the innovation of non-fungible tokens started to really energize the crypto market in 2021, the NFT market hit higher and higher trading volumes, and more and more actors from all fields got their eyes openers and started to pay more and more attention to the space as well as investing in it and minting their own NFTs.
However, because of the rare and unique nature of digital artwork, it is a challenge to actually get one’s hand on one of them or easily invest in a collection’s future. For many, buying an NFT usually involves a lot of disappointments and surprises of many kinds.
Some well-known issues are the competition for blockspace easily causing momentary and appealing rises in gas price and the whitelist selling mode is constantly criticized for being centralized, without transparency.
The Seedpad brings functionality that could be described as an INDO tool for NFT collections, a way to crowdfund projects while it’s as much investing in future royalty earnings as the NFT itself.
This is how it works: In the first step, NFT creators issue more “tickets” than the number of NFTs in the collection. Users then buy the tickets instead of the NFTs directly, effectively lowering the price.
Subsequently, the platform initiates a decentralized draw where some ticket owners will be luckily allocated NFTs while the ones missing out still share the royalties from all the future secondary market sales of the NFT collection.
By lowering the threshold of participation while distributing a share of economic stake creating a broader range of stakeholders in a new NFT collection drop, this mechanism provides a more streamlined and simplified process to issue NFT collections for projects and creators.
All participants stand a chance to obtain a piece of rare and expensive digital art at ultra-low-cost; and even if they fail to win, each of them is still able to get a proportion of the following royalties on this item, which, for all everyone, is a combination of fun and income opportunity.
Oases Seedpad seeks to help both big and small projects and individual creators issue NFT collections. It’s a tool that avoids gas wars and treats each user more equally.
Issuers will be guided through the process, automatically get smart contracts deployed on Ethereum, and set all customizable parameters like numbers of tickets.
After the tickets are sold out or the time of the sale expires, the lucky ones will be selected according to a set of decentralized rules.
Looking forward: NFT farming and builder program
Oases has a comprehensive roadmap planned for 2022 with many features in the pipeline. Except for the upcoming Seedpad feature, Oases is preparing an NFT deposit-to-earn feature that will allow users to gain passive income from their NFT holdings by depositing their NFTs and farming rewards from the platform.
The aim is also for the platform to aggregate other Ethereum-based marketplaces to act as a one-stop solution for NFTs, doing what DEX aggregators did to DEXes to the NFT market.
Oases focus on innovative functionality benefiting artists and the community alike.
There are no platform fees charged to creators when minting an NFT using the platform, only a standard 2.5% transaction fee that is charged on successful trades executed via the platform.
Oases also provide a creator verification system to legitimize and highlight good actors as well as provide rewards to active creators with long-term incentives such as reduced fees and personalized service, etc.
To celebrate the mainnet launching, Oases is rolling out a one-month transaction fee & gas fee reimbursement event to thank the early adopters of the NFT marketplace.
A weekly mission program is being implemented to give engaging users points in the form of Palm CoinsDrops, which could be exchanged for all kinds of rewards and benefits or converted into native tokens in the future.