NFT Markets

The Genesis League Sports (GLS) platform will also include marketplace contracts allowing users to buy, sell, and rent out NFTs in a peer-to-peer fashion with other players.

The various GLS game websites and apps will include a user interface for players to access and use the market, but as an open protocol, it will be possible - and highly encouraged - for third parties to create their own marketplace interfaces for GLS assets and have the opportunity to earn fees for transactions that happen through their services.

The GLUSD token will be the only token that is available to be used for the GLS platform market. However, it is possible that other services may be built to allow users to use different tokens and currencies, which will be converted to GLUSD automatically behind the scenes. The reason for requiring the use of the GLUSD token for market transactions is so that pricing for assets will be relatively stable and linked to the value of the US dollar, which should provide a more normal experience for players than pricing in highly volatile tokens.

Rentals

One of the unique and innovative features pioneered by blockchain-based games such as Splinterlands is the ability for players to rent out their assets to other players in a fully peer-to-peer and trustless transaction. When an asset such as an NFT game card is rented out, the owner of the card maintains ownership and control of the asset at all times, but the renter can use the card to participate in the play2earn game and earn rewards through the use of the asset in the game.

This allows for a symbiotic relationship between two very different player types in these games. Players who are mostly collectors but don’t necessarily have time or interest in playing the game can simply rent out their assets to other players who have time and interest in playing but may not have the money available to purchase all of the assets that they may need.

Fees

All market transactions will include two types of fees which will be paid by the seller or card owner in the case of rentals. The first fee will be a fixed 2% of the total transaction amount, which will go directly to the GLS DAO for the benefit of all GLX token holders. This is one of the primary ways that GLX token holders will benefit from the operation of the various games within the platform.

The second fee will be set by the different available marketplace interfaces created by the GLS team, partners, and various third parties. This fee will be in addition to the DAO fee mentioned above and will be paid to the market interface owners.