A distributed, ad-free marketplace that allows people to buy and sell second-hand items in a similar way to how an nft marketplace works.
This is a work-in-progress document, and changes and suggestions are more than welcome!
Centralized marketplaces are typically loaded with ads, and user data is collected and bartered off for ad-revenue. A marketplcae to buy and sell items is an ideal application of blockchain technologies.
Users should be able to upload items they want to sell. Each item will effectively be an nft, created by a smart-contract that publishes the sales listing to the public blockchain. The posting will have a starting value, and a set expiration time whereby it can accept "bids" for the item being sold.
- User uploads a sales listing, minting an nft in the process.
- NFT meta-data will be queried from the blockchain via graph protocol to render out the sales listing on the front end (react/next.js)
- On a successful bid, funds will be held in escrow until the product has been confirmed by both parties to have shifted hands.