After the new NFTs hit the marketplace, ETNA Network’s NFT Marketplace experienced a very high volume of users attempting to buy these highly undervalued NFTs. Due to the price-demand curve of the NFTs, several users experienced transaction failures and as a result, only a few could lay their hands on the NFTs.
In order to solve this problem and to make it fair for users, the following updates have been made to the NFT marketplace mechanism.
- To reduce the loading latency of the marketplace, updates to DNS records to connect nft.etna.network and APIs via cloudflare was done, this will remove unnecessary burdens on server hence, loading will be faster
- A limit of 3 accounts or wallet address per IP address have been imposed.
- A daily limit of 5 buy transactions per account/address have been imposed. There is no limit on sellback.
- Sales in Batches: Sales will progress in batches of 50 quantity per NFT type, each sales batch will be at fixed price for each new NFT and the price will increase for subsequent batches. This is more stable as compared with the default mechanism where NFT price increases at a given rate per each buy transactions.
Batch Sale Structure and Pricing for Each Batch
For each New NFT that was listed, there will be several batches of sales with a quantity of 50 per NFT sold in each batches.
The sales price for each of the batches is computed as follows:
And the prices for each sales batch are updated as follows:
Sales Price For Each Batch
Sales commences on 20th Sept. at 8am EST
NFT Marketplace: https://nft.etna.network/
To remain in the loop, here are some important links:
Game Website: https://play2earn.etna.network/
Quick Play App: https://p2e-beta.etna.network/
Game Assets Market: https://nft.etna.network/
Telegram Group: https://t.me/EtnaNetwork
Telegram Channel: https://t.me/EtnaChannel