The developer of the fitness app STEPN, Find Satoshi Lab (FSL), has introduced MOOAR, a new NFT marketplace. According to a press release I saw earlier today, this is the case. The third product in the FSL ecosystem has now been released, following the releases of the decentralized exchange DOOAR and STEPN last year (DEX).
Through a “unique membership model with zero platform fees and no optional royalties,” the NFT marketplace aims to empower traders and artists. However, the marketplace will let users use MOOAR’s launchpad, which functions like a “community-driven hackathon,” to design and release their own collections.
The introduction of MOOAR is consistent with FSL’s objective of building a self-sustaining ecosystem where the three products collaborate and actively support one another. Community members won’t be required to pay any additional service charges “beyond the initial platform membership fees” as a result.
The marketplace also gives the GMT token, the ecosystem’s native token, more utility by enabling its owners to vote on the launchpad.
Yawn Rong, a co-founder of Find Satoshi Lab, commented on the event by saying that the firm was pleased to broaden its ecosystem “by using MOOAR and incorporating externalities, therefore bringing more utility to GMT. Since the MOOAR marketplace was developed, FSL has become a fully self-sustaining ecosystem, making it unnecessary for the community to use external platforms, streamlining the process, and providing superior community assistance.
The NFT Marketplace enables Find Satoshi Labs to sustainably compensate creators
Additionally, MOOAR enables FSL to pay creators in a sustainable manner in light of the rising trend of zero creator royalties. Leading marketplaces have chosen over the past few months to remove the obligation for NFT customers to pay creator royalties when making purchases, including X2Y2, Magic Eden, and most recently, LooksRare.
NFT volumes have drastically decreased as a result, and creators now feel less motivated to accomplish what they do best.
The FSL team believes that a membership model is the only way to make zero service fees feasible in order to address the problem. Therefore, value generators are necessary for the business and the NFT sector as a whole to survive.