The FULL POWER March update
The Soonaverse is envisioned to become an all-encompassing suite of services that showcase the unparalleled power of the IOTA protocol. The NFT marketplace that launched just a month ago has processed over $2.5 million in NFT purchases and not a single fee was paid. With this release, we’re taking it a step further by implementing the ability to trade NFTs with zero fees.
Before we dive deeper into this incredible new set of features, let’s make sure to stop and appreciate all the work our development team shipped over this last two week sprint:
- Ability to make NFT available for sale / auction
- Added Starts In / Ends On (auction)
- Auto refresh page when auction / sale starts
- Ability to make NFT available to only one member
- Added price history graph
- Improved NFT timeline, add my transactions, my bids and my offers
- Limited Edition Collections
- Improved tags on collection cards
- Display Sale Starts on collection
- Improved verbiage on discounts within collection
- Improve how Royalties / Creator show on collection
- Added languages and switch
- Add notifications (starting with only three types for now)
- Add share links on spaces/award/member/proposals
- Implemented new graphs for smoother view
- Added JOINED tag on space card within discovery
- Warning not to send funds from exchange
- Cleaned up UI on how text is shown/tweaks/etc.
- Fixed issue with filename on single upload
- Alliances mobile view adjustments
- Ability to click on spaces within collection
- Improved Mobile view for member’s profile
Our main objective is to focus on user experience. We understand that not every piece of the UI is perfect, but we truly believe that the best way to make great software is to get it into the hands of the community as fast as possible. That way everybody can test, figure out what would make the system better, and give great feedback. From there, the Soonaverse team does what they do best: Validate, iterate, and improve!
Want to learn more about this latest release? Let’s talk about that.
Selling an NFT
Before you can sell your NFTs, you’ll need to verify your IOTA wallet. If you haven’t done this already then please follow these instructions: https://docs.soonaverse.com/en/all-users-getting-started/verifying-your-iota-wallet
If you have an NFT that you’d like to sell, then you can click the “Sell NFT” button from your NFT page. After that, you have two options: Fixed Price or Auction.
For Fixed Price, you need to fill out the price, when the NFT will be available for sale (your local date/time), and whether or not it’s an open sale or meant for a specific member. Defining a specific member is an easy way to transfer NFTs to other members in the Soonaverse. We would like to note that this is not “swapping” NFTs and should be used with caution when attempting to trade with other community members.
For Auctions, you only need to establish the floor price (the minimum you’re willing to sell the NFT for) and the availability date (your local date/time). Just for simplicity, all auctions will have a duration of 3 days for this first release. We’re starting with 3 days, but this platform is a configurable engine. The Soonaverse will do a proposal to get feedback from the community to see which duration options should be opened next.
NFT owners that have listed an NFT for sale have the ability to modify the fixed price, change it to an auction, or stop the sale completely. If at any point a sale stops because the owner suddenly made it unavailable, the NFT will go back to its original price.
Bidding on an NFT
Now when you’re on a page that’s about to start selling an NFT, the page will automatically refresh once the time for the sale comes live. This means there’s no more need to constantly refresh your screen before a sale starts.
Check the Terms and Conditions box, click “Make a bid”, and an iota address will appear. Copy the IOTA address and use your wallet of choice (Firefly or Tanglepay) to send your bid amount to that address to make your official bid. After a few seconds, if you made the highest bid, then you’ll see a green notification in the Soonaverse that you have the highest bid:
You’ll notice that in the “Your transactions” section from the image above, the member has the highest bid and it only shows one payment for 8 Mi. The member in the below image who used to have the highest bid has two transactions: The original payment for 7 Mi (the previous highest bid) and a credit for 7 Mi. This credit was sent back to the member as soon as the 8 Mi bid came in.
Here’s the extremely cool part about this platform: While bidding on a popular NFT, you might have a dozen or even more people bidding against you at the same time. That’s why every second counts. Once you get the IOTA address from making your first bid, you can actually reuse that address again and again until the auction is over.
What exactly does this mean? It means that you technically never need to leave the Firefly wallet during the bidding process. If you send a bid to the address and it doesn’t come back, then you know you have the highest bid. But as soon as your Firefly wallet shows a refund, you know that you need to put in a higher amount right away.
A full timeline (with links to transactions on the Tangle) of every mint and resale event as well as a price history chart is shown on the NFT page:
Please note that after a sale ends, it can take up to one minute for the auction to be finalized.
Collection Improvements
When creating an NFT collection now, you can mark it as a “Limited Edition”. This will signal to the entire community that your collection doesn’t have the ability to add additional NFTs after the collection has been published.
Members will even see a “Limited Edition” flag on the collection card when searching through the Marketplace:
A Sale “Starts in” display now shows up on upcoming collections so members can easily see which collections will be launching soon:
If you need to know the exact date and time of the sale, then you can drill into the actual NFTs inside the collection.
Last but not least for collections, we improved the way collection creators and royalty spaces are distinguished:
Language Switch Feature
We’ve modified the way users interact with translations in the Soonaverse UI to become more intuitive. Now instead of typing the specific language into the URL, you can simply change to your preferred language by using the prompt in the bottom left pane:
An important part of this feature is that it will show all dates on the platform in your country’s date format (e.g. 31.03.2022 for DE).
Added Notifications
Notifications have been enabled, but only in a limited fashion. The only notifications starting out will be when you lost a bid, if someone bidded on your NFT, or if you won the NFT. The platform will add more types of notifications over time based on user feedback.
These notifications need to be treated carefully because, in a decentralized system, you can’t just mark them as read and store it in a backend. This is because we’d have to write them to a centralized database. Instead, we’re currently storing that information in the cookies. This distinguishes what’s already been seen. The struggle is that if somebody refreshes their cookies or uses a different browser, then all their notifications will look like they’re unread.
This is a tricky problem to solve and why we’re initially only rolling out this feature for NFT bids. We’ll collect feedback from the community and find the most productive way forward.
Overall, this has been a very exciting sprint. Some long-anticipated features have finally been released into the wild. We’ve looked forward to this moment for quite some time.
But now it’s back to work for the Soonaverse team. We will continue to ship.
Validate, iterate, and improve. That’s what we’ll continue to do.
