GhostMarket has unveiled an exciting new feature called 'Lucky Buy,' aimed at providing users with a fresh way to purchase NFTs at potentially lower costs. This innovative feature is currently available on the Neo N3 blockchain and is set to expand to other EVM-integrated blockchains in the future.
How Lucky Buy Works
The Lucky Buy process leverages a random number generation system. Here's how it works: Users roll a number between one and 100 when they want to purchase an NFT on the GhostMarket marketplace. The chance to win depends on the bid probability set by the user, which can range from 1% to 75%. If the number rolled is within the user's set probability, they win the chance to buy the NFT at a reduced price. GhostMarket will then cover the price difference from its treasury. If the roll is not successful, the user’s bid amount is transferred to GhostMarket's treasury, which funds future Lucky Buy opportunities.
For example, suppose an NFT is listed for 80 GAS using the standard "Buy Now" option. A user can opt to participate in a Lucky Buy, offering them a chance to purchase the NFT for a price between 0.84 GAS and 63 GAS, depending on the probability they select. This feature works entirely on the blockchain, employing random number generation to maintain fairness and transparency. Users can verify the results of their roll and the probabilities on-chain using transaction explorers.
Eligible Listings
Currently, the Lucky Buy feature is available for all NFT listings priced in chain-native fee currencies, like GAS on Neo N3, and those priced in GM tokens. Users interested in using this feature should select an NFT that supports it and choose the Lucky Buy option instead of the standard "Buy" button. Upon selection, a window will pop up, allowing them to adjust the probability percentage and enter their desired bid amount.
The Lucky Buy feature includes a 3% fee in addition to existing platform fees. This fee is divided as follows:
- 1/3 to the seller: The seller receives an additional 1% of the final NFT price.
- 1/3 to GFUND: A portion is allocated to GhostMarket’s in-house fund, GFUND.
- 1/3 to GhostMarket: The remaining amount supports platform development and covers the gap between the bid and full price in the event of a winning roll.
GhostMarket expects this new feature to offer users a fun and engaging way to purchase NFTs at potentially lower prices, while fostering platform growth and providing additional incentives for sellers.
An example of a Lucky Buy using a 58% win chance showcases the feature's potential and appeal.
