Treasureland Marketplace Review
Treasureland is a multi-chain NFT marketplace that allows users to mint their artwork and list it for sale on the Binance Smart Chain. Treasureland opted for a transition to Binance Smart Chain (BSC) after receiving complaints from users about the high gas fee on Ethereum. The transition is now complete and the transaction fees are much lower to the benefit of all users.
The Treasureland NFT marketplace is a spin-off from the developers behind DEGO. Dego was launched in September 2020 as an open-source protocol focused on building cross-chain systems. Some sources say that the developers have chosen to stay anonymous with the intent of not taking any credit for the project.
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).
Treasureland Marketplace Focus
The launch of Treasureland V1 was part of DEGO’s Q4 2020 roadmap, with plans to optimize the platform in Q1 2021. A cross-chain development plan is set for the second quarter of 2021, while the third quarter could see testing on the Degochain.
At the time of launch, the marketplace held an airdrop of BSC NFT tokens. Users can collect NFTs from Treasureland Marketplace by trading BSC NFT tokens or by using certain cryptocurrencies like BNB or DEGO. Another alternative is the ability to mine BSC NFT tokens.
The main page allows a new user to connect his wallet to the Treasureland Marketplace. It supports multiple wallets like Metamask, Math wallet, SafePal, Trust Wallet, Token Pocket, and ONTO wallet.
Treasureland Marketplace Fees
When you make a trade at any NFT Marketplace, they might charge you a commission. We could not find any information about commission on the Treasureland platform but we will update this review with that information as soon as we do.
However, Treasureland Marketplace levies a transaction fee or gas fee. As we mentioned above, a high gas fee on the Ethereum blockchain was one of the primary reasons why Treasureland transitioned to the Binance Smart Chain, so these fees are less of an issue here than they are elsewhere.
Layout of Treasureland 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 Treasureland Marketplace:
Here is an image of the NFT “Bibi to the Moon”. On selecting an NFT, users can see the current price of the artwork and an approximate USD value (based on the cryptocurrency’s current market rate). Additional information on the page includes the ID number, the block number in which the NFT is minted, the time of creation and a link to the owner and seller.
Treasureland 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. Tresureland does not seem to be one of them, but you need a previous holding of the supported cryptos to trade here.