- Find Satoshi Lab is launching its NFT marketplace, MOOAR, to empower creators and traders via an exclusive membership model.
- The platform will be released without any platform fees as well as zero optional royalties.
- This is Find Satoshi Lab’s third project after STEPN and DOOAR.
Launch Day! Get #MOOAR! 🧡— MOOAR | Season #1 (@mooarofficial) November 1, 2022
Find Satoshi Lab (@FSLWeb3), the company behind STEPN, is thrilled to announce the launch of MOOAR NFT marketplace & launchpad.
This milestone is one of many on our roadmap to become a one-stop platform for the Web3 Community. ⬇🧵 [1/10] pic.twitter.com/IfSSo2RWaS
Adding the marketplace will assist the firm in developing its self-dependent space together with the current STEPN app as well as Solana-oriented decentralized exchange, DOOAR.
With MOOAR, users will have the freedom to buy the sneakers that are a must when using STEPN. Also, they will be able to create as well as sell NFTs on the platform. The aim is to make the three applications, i.e. STEPN, DOOAR and MOOAR to work together and assist each other.
During the last two months, LooksRare, X2Y2 and Magic Eden have emerged as the NFT platforms to drop the need of paying royalties to creators while buying tokens.
STEPN COO, Shiti Rastogi Manghani, said that the inability to help artists in the long-run will be harmful in terms of the value of NFTs and MOOAR is looking forward to compensating creators the right way.
She continued that on platforms that have already begun with 0% royalty fee, there’s a downward trend on volumes which shows the possibilities that are due to happen. It is for this reason, they are taking the strong and difficult stance of supporting the creators and bringing the rule as far as fee structure is concerned.
Creators with interest in selling on MOOAR can decide royalty fees ranging between 0.5% and 10% with 2% default rate.
STEPN was launched in 2021 and has generated $122.5 million in Q2 profits in 2022. DOOAR was released in June and based on Dune Analytics’ data, it holds the largest strength of daily active users throughout other decentralized exchanges on Solana.