Grape launches NFT Dex for Solana
NFTs on Solana have been wildly successful, no doubt in part to the Solana blockchain’s blazing fast speeds and near zero transaction costs. According to Jump Capital “ It’s become clear that mass adoption of NFTs on Ethereum is unsustainable when it costs upwards of $100 to mint an NFT, transaction speeds are extremely slow, and the creation process is quite cumbersome. The migration of more and more creators from Ethereum to Solana shows that access to transactions with low fees is important!
When we first started Grape, we knew that fees would push more and more users over to Solana, specifically the non-financial use cases. Our token-gating first launched with tokens in mind, citing FWB and WHALE as the examples of tokenized communities, and how they would need to move to Solana to continue evolving and thriving.
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What we didn't predict is the immensely powerful community building properties of NFTs, and how successful NFT DAOs like MonkeDAO, DAOO, and ThugDAO would be. Our original goals of onboarding 10,000 users in the first 6 months were shattered! Thanks to the Cambrian explosion of Solana NFTs, Grape has onboarded over 320,000 users and added support for targeting metadata traits on NFTs.
Enter Grape NFT Dex (brand name pending)
In our quest to build tooling essential for decentralized communities, we realized we needed to update our roadmap to better accommodate the needs of NFT communities.
Grape NFT Dex launches today, exclusively for whitelisted addresses and Gorilla members of Grape.
There are 2 key features that are at the core of our NFT marketplace philosophy: Non Custodial Listings and Community Owned Instances
Non Custodial using Stateless offers
- Never give up ownership of your NFT — unlike the marketplaces of today that require you to hand over custody, Grape NFT Dex never takes ownership of your NFT.
- Be in every snapshot — never again will you miss out on an airdrop because its listed. Non custodial sales means you never have to list your NFT to receive offers on it!
- Keep every DAO role — because your NFT never has to leave your wallet, you always keep the roles in Discord that you have earned for holding that NFT
- Always open to offers — never think about listing ever again. All of your NFTs are always open to receiving offers and you’ll never miss out on a great trade.
- Exchange fees for community treasury — each community is able to receive revenue directly to their treasury with Grape NFT Dex. The community makes the NFT valuable and now they can get their fair share.
- Easy, permission-less setup — any community can spin up and run their own community marketplace without any setup requirements.
- Listings for all — centralized marketplaces become gatekeepers to what can and cannot be listed. On the Grape DEX, every NFT can be listed.
At the heart of our new Dex concept is Metaplex’s Auction House. The Metaplex team has been evolving the NFT landscape so fast that many of these upgrades and features have not been brought to the forefront until now.
Non custodial listings are inevitable. Users should never have to give over custody of their assets. Add the convenience of receiving offers while your NFT is unlisted and the ability to stay in snapshots for future benefits, and you quickly understand that this change is a huge win for NFT users. You’ll be able to enjoy all the benefits of ownership while still having your assets available for purchase. Its our belief that every marketplace will copy this by the end of the year.
NFT communities create a huge feedback loop of value for their respective NFTs; the more active the community, the more desirable entry into the community becomes, and the price of the NFT inevitably goes up with that demand. However, that value is not captured by communities today as it mostly resides with the creator and the exchange. With Grape’s NFT Dex, the value stays with the community that is creating it.
Each community will decide how their marketplace is used. In Grape’s Dex, all decisions will be made on-chain by the DAO and subDAOs.
- What royalties are in place and where do they go
- DAO2DAO agreements
- Which NFT projects will be featured on the marketplace. The community will be able to drive traffic to the specific projects they choose
The Grape DEX is currently open to GRAPE Gorillas only for beta-testing
To start testing, login to verify.grapes.network
Open the preview of one of the NFTs in your collection and share the link in the “Grape-marketplace” channel on Discord. Anyone with that link can make an offer directly on that NFT. You will see the offers appear in your collection dashboard.
Here is an example link:
Offers with a Red arrow are offers made on NFTs you own
Offers with a Green arrow are offers you have made
Accept offers directly on the NFT preview page
To list an NFT, go to the NFT preview page and click on the “Sell now” button.
To buy an NFT, go to the NFT preview page and click on the “Buy Now” button.
Your listings appear in your collection dashboard
About Grape Network
Grape Network is a toolset for building token-based communities on Solana. The network’s tools help DAOs and decentralized communities coordinate members, communication, and incentives more effectively. Grape Networks’ community, The Grape (“Great Ape”) Community, is a token-based membership community focused on accelerating the growth and adoption of Solana.