Atomic Hub NFT Marketplace Review
Atomic Assets is developed by Pink Network — a group of blockchain enthusiasts active on the WAX and Proton blockchain. AtomicAssets is powered by the Eosio blockchain technology and Atomic Hub Marketplace is the platform to buy and sell NFTs. The portal is available to anyone for tokenizing and creating digital assets and to buy, sell or auction digital assets.
Atomic Assets was first launched in February 2020 and the Atomic Hub Marketplace for NFTs was launched in June 2020. At the date of first writing this review (30 March 2021), Atomic Hub claims that over 9.2 million NFTs have been created on the WAX Blockchain on the platform.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
Atomic Hub Marketplace Focus
Atomic Hub marketplace allows any uniquely created and original artworks to be listed on its platform. At the time of whitelisting, the portal seeks proof of originality from the artist. Proof of originality may include detailed descriptions of how the artwork was created or raw files.
Atomic Hub Marketplace Fees
When you make a trade at Atomic Hub marketplace, they charge you with a commission. The commission is normally a percentage of the sale amount in the relevant trade.
Atomic Hub Marketplace charges 2.00% of the total sales price as platform commission, automatically deducted by smart contracts at the time of sale. Additional fees like royalty or blockchain fees may also be applicable. However, this will be deducted directly from the sales price instead of being levied as an additional charge to the sales price.
Layout of Atomic Hub Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from Atomic Hub Marketplace showing a specific NFT.
Each artwork has a unique ID. The artist has to define multiple parameters like the Asset name, Collection name and Schema name. The artist also has to include the properties of the asset — like transferability or the option to burn the asset.
The portal also lists the pricing history of the asset, based on the template ID. To make the interface more buyer-friendly, the portal also lists the recent transfer history and other suggested artworks that could interest the buyer.
Atomic Hub Marketplace 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.
Atomic Hub Marketplace does not support Credit Cards or PayPal. WAX tokens will be the only supported tokens, as far as we know. The portal has a functionality that allows new tokens to be added over time. However, these new token additions will be determined as and when the demand arises. Alternatively, users can price their assets in USD. But at the time of settlement, they would be paid by WAX tokens, converted at the prevailing rates.