721FM by The OpenDAO
Trade, Aggregate, Unlock
721FM stands for fair marketplace.
The OpenDAO is made up of a community of NFT collectors, and creators.
We have been listening to the needs of the web3 community.
We want a marketplace that can create a level playing field.
721FM has ZERO marketplace fees
I remembered when I was young, I traded Pokémon cards for fun.
Can you imagine what it would be like, if every time we traded a card, together we lost 5% of our money? Would trading still be as fun?
What can I do on 721FM?
If you are like me, you would have many NFTs that are trading near to zero. (Yes, I have been rugged a LOT, i’m a diamond handed bag holder.)
Or some collections might have a very high royalty fee near to 10%. (And you have to resort to using OTC swaps which can be highly risky.)
This is the time to list them and trade them all on 721FM.
The shopping cart allows you to pick and choose as many NFTs and buy them all in one go.
You can place an offer below the floor price, and wait for a seller to accept a bid, without a third party bot.
At launch, the following wallets will be supported.
✅ Coinbase Wallet
And all wallets supporting the WalletConnect protocol.
What else can I do on 721FM?
Your wish is my command dear Anon.
You are most welcome to tell us what you want to see. The OpenDAO community has ears close to the ground and hungry devs waiting to work on your requested feature.
There are some features that are in the pipeline.
Here’s a little sneak peak
Market aggregator: To allow you to better use your ETH and compare prices across different marketplaces.
Batch transfer: When you want to move your NFTs to cold wallet storage for example, it can be a pain right now to click it one at a time. We will provide a feature for you to do it all together.
Floor price alerts: Are you an NFT degen that is constantly refreshing to check the floor price? With floor price alerts, you can go to sleep and we’ll wake you up when your NFT moons.
Trade NFT before they mint: Whitelist trading exists in telegram groups and trading them can be difficult. The NFT IOU product that we were working on, will be incorporated into the 721FM.
NFT lending: Allow collectors to get liquidity out from an NFT without selling it.
How does it benefit me?
The NFT market has exploded in recent times and has seen sustained growth due to adoption fuelled by creative utility.
But here’s the deal — A sizeable chunk of NFT transaction volume goes to marketplace trading fees.
It adds up as your aggregate transaction volume goes up, until you realise you’ve lost a mammoth amount of ETH to marketplace trading fees alone!
This discourages free trading and adds to the NFT illiquidity problem. So you can conveniently cross ❌ trading fees out of the equation and concentrate on what matters most — creating and collecting NFTs in a frictionless feature-packed environment.
Think of this as a NFT “free trade zone”, very much like the treaty that countries sign with one another. This IS a very big deal.
And this is why we are so excited to share this new development with you today. Until the next update!
To reward you, the anon reader who has come so far to the end of the article.
There will be a participate to earn program that is launching soon, like mini-quests to complete. New features will be rolled out and announced first on our twitter.