Image created with Canva Pro
Curio The Decentralised Market Place on Terra
Terra (Luna) Network has driven change in the decentralised finance (De-Fi) sector and parachuted to second largest De-Fi blockchain all within a short period of time. However, another sector it is beginning to dominate is the Non-Fungible Token (NFT) space and providing artists a new and affordable way to create, trade and sell their artwork.
Over the past few months I have introduced you to DystopAI a parallel world that has the ability to morph any NFT to fit the apocalyptic AI powered NFT world. We explored Luart which is a gamified NFT protocol where users who engage earn rewards through tasks and trades.
Talis art completely changed the game with the ability to enable purchasers to print art works and create marketing materials as well as easily set royalties'. We also explored the gamification of KNOWHERE driving the Metaverse on Terra (Luna) Network. Today we explore the latest NFT advancement on the Terra (Luna) Network, Curio.
What is Curio?
From the team that brought us LoTerra, now provide us with a new and exciting NFT protocol, Curio. Curio is the latest NFT auction protocol to launch on the Terra (Luna) Network with a current announcement by the team seeking people to apply for the Curio Launchpad. The protocol brings some nifty inclusions with the ability to cancel an auction at any point for free unless your auction has received bids, this will incur 10% fee of the highest bid paid as compensation. 5% going to the bidder and 5% to LoTerra stakers. LoTerra stakers will also receive dividends from all sales on Curio.
Types of Auctions and New Innovations
There are a number of added features in Curio that further builds on the traditional auction suite of previous NFT marketplace. We have already briefly mentioned the function of being able to cancel NFTs but with Curio you will be able to host auctions for as short as 10 minutes to as long as 6 months maximum.
You will also be able to host private auctions only open to users that hold Curio native token $SITY which is earned through buying, selling and participating with the network. Curio also states that there will be further future uses for $SITY and will announce more in the not to distant future.
Artists can implement a royalties fee which is also able to be updated which enables artists to retain the value and continue to earn off their art work well into the future. Reserve prices can be set so if the reserve is not met the artwork is not sold alternatively artists can also set a limit on the piece of art and bids will not exceed the amount set.
Each sale does come with a commission of 5% and artist are also able to select a charity to donate funds too once their art work is sold if they wish to. You can find all this information and more in the Curio Docs.
The Interview
It wouldn't be a Melbourne's West famous article without hearing from the team and I have reached out to find out a bit more about Curio.
What new and innovative features will Curio have?
Curio is a decentralized NFT marketplace governed by a DAO, we offer a complete auction experience, bidding in real time, auction expends 10 Min more if a bid is made in the last 10 minutes.
We also offer the possibility for seller to sell at fixed price with auction opened. We also are happy to offer Charity, a seller can setup a charity address and the percentage to share on the final auction price.
But that’s not all! We have much more like reserve price, opening bid price, start time, end time.
Curio also have a play to earn token called SITY it is here for rewarding users interacting with the marketplace. Players are rewarded for bidding and auctioning for the moment.
At LoTerra we always try to innovate, we are reusing the Candy machine to create the first Scratch gaming experience on Terra.
What inspired you to create Curio?
For Curio we were inspired by others marketplaces, OpenSea, Rarible, etc to create a complete auction experience. Not just simple like make an offer and buy at fixed price that we can find on other marketplaces on Terra, something completely new and unique.
What benefits are there for artists on Curio?
Next week We are releasing our Launchpad program we want to help artists to mint NFTs collections and sell it on Curio via our 🍭 Candy machine contract. We use Terr and oracle to randomize all the public or private sale of the candy machine.
We also allow artists to set multiple groups of whitelisting and the ability for artists to receive Royalty fee on theirs creations.
What's the most important thing you'd like readers to know about Curio?
Definition of Curio: a rare, unusual, or intriguing object.
Curio team haven’t received any funding for creating the marketplace unlike others marketplaces, we aims to create a decentralized marketplace governed by a DAO with a lot of features driven by the community.
Opinion
The LoTerra team brought us something new and exciting with their twist on the traditional blockchain lotto protocols and have continued to further develop the protocol. Their experience and skill definitely comes to the forefront and their latest protocol is one I'll be continuing to watch grow.
What are your thoughts?
If you would like to learn more about Curio you can follow their official Twitter or join their Telegram chat.
Image sources provided. This is not financial advice and readers are advised to undertake their own research or seek professional financial services