Gamerse aims to make NFT trading a social, fun and engaging experience through the implementation of a concept we call “social trading”. The Swipe Swap function doubles down on this through its Tinder-style swipe and match feature for NFT trades. Users will be able to discover new NFTs through our swapping recommendation engine which will present them with NFTs based on their interests. Users will then swipe right if they wish to match or swipe left if not. Users will be notified when they’ve matched with an NFT and can choose to initiate a swap and/or direct message the owner of the NFT. Users who wish to initiate a swap can choose one of multiple methodologies for pricing
Gamerse Pricing Oracles: The Gamerse platform curates pricing information from other sources and provides a fair market price for each NFT. In the case of price differentials between the two matched NFTs, the lower valued NFT holder will be required to supplement their trade with $LFG tokens. This option ensures both users engaged in the swap receive a fair deal and eliminates the need to negotiate and concerns regarding price fluctuations.
Declared price: NFT owners will have the option to declare the price they want in $LFG tokens or dollars to be paid in USDT. Exchanges will be made based on the declared price. This method of pricing means users engaged in the swap may need to negotiate directly with one another.
Auction Pricing: This will allow users to make bids for the matched NFT and will be provided with the options to offer an NFT plus tokens, multiple NFTs or $LFG tokens only as described in the “Auction House” section.
The Gamerse escrow function ensures all trades are conducted in a secure manner by allowing each user to make asynchronous deposits safely. If, for example, one of the users engaged in the swap inserts their NFT into the swap contract, the other user has the option to perform the trade or bid at a later time. As long as the NFT holders keep their bid open, their NFTs are held in escrow. This allows users to make a proposal for a trade and allow the seller to accept and reject it. The NFT being swapped remains in escrow until the offer is withdrawn by the NFT owner. Once both parties agree on the trade and all parameters have been met, the NFTs and funds will be released from escrow and dispersed to the relevant parties.