HoDooi.com NFT Marketplace Review
HoDooi.com is a Vietnam based company operating a multi-chain NFT trading platform. The company was founded in 2021. Although the marketplace was initially launched on Binance Smart Chain, efforts are underway to integrate the portal with other blockchain networks. Based on the information we received from the company, a blockchain integration could be announced in the next 2 months.
The platform uses a native token HoDooi (HOD) which is listed on multiple exchanges like PancakeSwap, Gate.io, BitMart, MEXC and WBF Exchange. Additionally, the NFT marketplace also supports transactions in BNB, BEP-20 and USDT.
The platform prohibits investors from certain countries. Based on the information we have received, HoDooi.com NFT Marketplace does not allow US investors to participate.
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).
HoDooi.com NFT Marketplace Focus
HoDooi.com features a wide variety of digital artworks and collectables from individual artwork creators. Artists have to undergo a verification process which includes authentication via Google Authenticator and Email Authentication.
All verified accounts are classified into three distinct categories; Standard, Blue and Gold. Gold and Blue verification badges denote a higher degree of trust in the artwork creators as they are recognized and validated by the HoDooi.com team.
HoDooi.com NFT Marketplace Fees
When you make a trade at any NFT Marketplace, they charge you with a commission. The commission is normally a percentage of the sale amount in the relevant trade.
For minting NFTs, HoDooi.com artists will be charged the basic minting fee by Binance Smart Chain. HoDooi.com levies a market fee of 15.00% on the primary sale of an NFT. All secondary sales will attract a 2.50% market fee for both buyers and sellers (not the artwork creator).
Layout of HoDooi.com NFT 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 HoDooi.com NFT Marketplace:
HoDooi.com NFT 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.
Currently, HoDooi.com does not support credit/debit cards or PayPal. However, according to the company’s road map, credit card purchases would be integrated be integrated in the future.