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Danxia Capital Expressed: Random Earth is a revolutionary NFT marketplace that aims to bring the next 1 million users to the Terra Money network.
As the DeFi market develops, NFTs begin to play an increasingly more important role in the ecosystem. However, the existing environment for NFTs has many problems. For instance, existing AMMs often offer limited trading options concerning non-fungible assets.
Random Earth aims to change that by bringing decentralised limit order books to Terra Money
and allowing users to trade anything from UST to Galactic Punks NFTs.
Random Earth will support various products, including Galactic Punks NFTs and Levana Protocol’s Evolutionary NFTs. Projects can also build on top of their infrastructure. Examples of projects powered by Random Earth include SIG Finance and Prism Protocol.
Building a marketplace on top of Random Earth’s core infrastructure has many advantages: it supports fractional NFTs, un-collateralised bidding, arbitrary asset auctions, etc.
Fractional non-fungible tokens (F-NFTs) are the newest craze of the crypto art world. They democratize owning a unique piece of art by allowing anyone to own a smaller piece of it.
Random Earth bids are stored off-chain (e.g., on Anchor Protocol), and as a result, one can broadcast only their intention to purchase an NFT (with no gas cost). Assets need only to be deposited into Random Earth at the settlement date when an auction closes.
Random Earth offers Arbitrary Asset Auctions. It allows users to place orders in whatever units they desire. For instance, someone can bid in aUST. Thus, UST never has to leave anchor protocol even at settlement.
Executing orders on Random Earth costs half as much gas as swapping on traditional AMMs. Furthermore, since orders are generated and stored off-chain, users can expect auctions to cost no gas at all.
The most valuable NFTs will be backed by solid intellectual property (like NBA Top Shots or celebrity fan NFTs). Random Earth is building partnerships with artists, entertainers, and content creators to launch IP-backed NFTs on their platform.
Random Earth’s NFT Marketplace will offer first-class login support through Google/Facebook/Twitter OAuth, while Terra wallets are generated behind the scenes. This way, anybody (even a person with no crypto experience) can engage with content on their platform.
On Random Earth, NFTs will be used primarily to foster fan engagement. We expect creators to want to build long-term relationships with their fans beyond the initial NFT sale. Hence, they intend to build Random Earth into a social platform with gamification via NFT rewards.
Random Earth plans to utilize wormholecrypto’s cross-chain bridge to purchase and transfer NFTs across multiple blockchains, including Terra, Ethereum, Solana, and Binance Smart Chain.
Random Earth also plans to integrate with vendors to enable fiat payments on their platform. Hence, cash can be used to purchase NFTs, and if one chooses, he or she will not need a crypto wallet to hold their assets.
