Ghostmarket NFT Platform Review : Deep Details Review

About Ghostmarket NFT

Ghostmarket NFT is a fully non-custodial NFT marketplace, powered by smart contracts on each integrated blockchain. GhostMarket features an intuitive self-minting platform, providing fast and efficient minting and listing of artworks.

The self-minting platform allows artists and developers to create NFTs and control the royalty percentage, attributes, locked content, and more. NFT collectors and casual buyers can filter and sort the available listings from multiple blockchains to find, then purchase their next masterpiece.

GhostMarket has been active since 2020 and is an NFT Marketplace where you can buy collectables based on multiple blockchains. Initially, it started off with the Phantasma and the NEO blockchains and has since then expanded support to other blockchains like Binance Smart Chain, Polygon, Avalance and Ethereum being the latest. 

The portal also launched a token sale to the public early in January 2022 on Flamingo Finance. The GhostMarket token sale was a huge success and was oversubscribed up to 20x times.

Basic Details Of GhostMarket NFT Platform

How to open an account

Opening an account with this NFTs marketplace is fast and straightforward. You fill in the details and can start creating your NFT immediately. Once you’ve uploaded the content, you can now sell the NFT.

There are various crypto options or avenues for selling these NFTs. The platform, however, doesn’t allow users to categorize the listed NFTs. And that’s another problem the platform has to solve.

GhostMarket claims to have over 5,000 users and a total volume of $2 million. That’s a high amount considering the platform just came up barely two years ago. And that goes to show the sheer volume of the NFT marketplace.

Connect your wallets

Use your wallet of choice on any blockchain supported by GhostMarket. Multiple wallets and chains are supported at the same time.

Create your profile

Once your wallets are connected, you will be able to create a profile that will serve to identify you.

Mint your own NFTs

If you are a creator, use your work (image or video), with a title and description to mint your own NFTs.

List them for sale

Choose between auctions, fixed-price listings, and declining-price listings. You decide how you want to sell your NFTs.

Is GhostMarket a safe NFT Marketplace?

Well, there have been no records of any issues from buyers or sellers on the platform. However, we would love it if the platform would update users on the safety status of all functions. That’s what leading NFT marketplaces do, an example being OpenSea.

It’s worth mentioning that membership fees incurred by the GhostMarket platform are in BNB currency. You can pay these fees using FIAT from the 14 backed currencies on the marketplace. Unfortunately, the UK Pound is not one of the supported coins on the platform.

GhostMarket Fees

When you buy an NFT somewhere, it is customary for the relevant NFT Marketplace to charge a fee for enabling the sale. This fee is typically a percentage of the NFT’s sale price and is normally paid by the buyer. This can be compared with how regular art galleries normally take a share of the sale of any paintings etc. hanging in the gallery when a sale is executed.

At GhostMarket, you will have to pay 2.00% to the marketplace as trading fees when you have sold your NFT, but there are no listing fees involved. The original creator of the NFT can also choose to take a fee on the final sale amount as well, but is under no obligation to do so.

Accordingly, if you purchase an NFT worth USD 98.00 at GhostMarket, you will have to pay USD 100 in total (provided that the creator of the NFT has chosen not to charge a fee for himself/herself).

Ghostmarket reduced its minting fees to minimise the impact of rising prices on its users. Here’s an image of the new minting fee schedule for all supported blockchains.

GhostMarket Payment Methods

A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal deposits.

GhostMarket supports the purchase of cryptocurrencies using a credit card. Alternatively, you can use your previous cryptocurrencies (supported by GhostMarket) in order to be able to interact in this particular marketplace.

GhostMarket Referral Program 

Yes, the platform runs a dedicated referral program for all its users, unlike most NFT marketplaces. Under this program, the referrer is eligible for a 25% bonus on all commission proceeds of the referee. To put it more simply, if you refer GhostMarket to a friend and he ends up buying an NFT, whatever commission the platform will charge, you will be given a percentage cut out of it in the cryptocurrency of your choosing. By consciously placing itself as one of the leading NFT marketplaces, GhostMarket is coming up with innovative user incentives to draw more people towards the crypto market. 

With your unique referral URL, you can share NFT links with your friends and family. Luckily, if anyone from your acquaintances chooses to buy an NFT through your link, you will get 0.5% of the NFT’s price as a reward. However, the program does not limit your earnings to just the first purchase. Every subsequent trade that occurs after that, the platform will continue to transfer the reward amount to your wallet.

License and compliance GhostMarket status

GhostMarket is not compliant, so you risk losing your investment. And all this comes from the industry not regulating crypto assets such as NFTs. If this were a thing of the past, maybe the platform would have a valid license.

This indicates that there’s no legal protection for those engaged in the NFT marketplace. These include buyers, creators, investors, and those staking the NFTs. Therefore, the industry does need compliance or some regulation for NFTs. Only a few securities have come to terms with accepting NFTs as tradeable assets.

GhostMarket Roadmap

1 Q4 2020

Founded

Phantasma Minting & Trading

2 Q1 2021

NEO2 Partial Integration

Auction Capabilities Added

Integration Into pavillionhub.com

3 Q2 2021

BSC Minting & Trading

4 Q3 2021

GhostMarket V2

Polygon Minting & Trading

Neo N3 Minting & Trading

5 Q4 2021

Avalanche Minting & Trading

Cross-Chain User Profiles

Cross-Chain Governance Token Introduction

6 Q1 2022

Full SDK Release

New Blockchain Integration to be Unveiled

NFT Swaps Between Blockchains

New Blockchain Integration to be Unveiled

Integration with Virtual Galleries

Mobile Application