Top 3 nft marketplaces in secret network

When it comes to smart contracts and DApps, confidentiality is paramount, and Secret Network provides the tech to make that possible. It facilitates the creation of privacy-focused applications that use encrypted data without making that data accessible to the public.

Furthermore, you can now buy an NFT on the Secret Network. Secret NFTs enable private auctions where buyers and sellers can negotiate without disclosing their identities or transaction details. 

$SCRT is the native token of the Secret Network, utilized for transaction fees and governance. Users can access the network and participate in its operations by staking and voting. So, this article delves into the Secret Network’s top three NFT exchanges.

1. ActiList

Built on the Secret Network, ActiList NFT exchange is a cutting-edge platform that lets your personal information can be encrypted, within the NFT, using enterprise-grade SGX technology. This technology enables creators to add private metadata to NFTs on the Secret Network and view key technology. 

It’s unlike any other platform because it allows for anonymous bidding on NFTs and quick swaps and has no transaction fees. The platform’s emphasis on anonymity, security, and decentralization makes it appealing to those who enjoy NFT by being anonymous. 

Benefits for Users

The NFT marketplace serves its users by providing a wide selection of NFTs, including digital artwork and gaming assets. In addition, the platform includes a robust governance system that allows users to participate in decision-making processes, ensuring that the marketplace remains decentralized and community-driven.

Unlike other marketplaces, they aim to make digital ownership and content creation more enjoyable by incorporating novel auction styles such as blind auctions and gamified random mints. 

So, Actilist’s access control features empower NFT creators and users to own their work completely. They offer resources for creating NFTs with customizable access permissions. Adding both public and private metadata can unlock limitless potential for creators. By giving creators a platform on which to express themselves, Actilist aims to empower them.

They are confident that Web 3.0 will enter a new era of innovation thanks to Actilist. This marketplace will have genre-specific sections for visual arts, PFPs, video games, the metaverse, musical compositions, digital books, and other products. 

 2. Bidshop

Bidshop is an NFT marketplace that gamifies the user experience through a reverse auction mechanism. The platform uses game theory in NFT auctions to create additional liquidity streams for NFT holders, going beyond the floor price. Bidders can buy rare NFTs at lower prices through reverse auction. The protocol employs trustless bid encryptions to establish temporary secrecy and operates in a decentralized manner.

So, Bidshop creates a trustless system that encrypts bid values to address challenges. Bidding for encryption and decryption is possible through the Secret network. It solves issues on Polygon’s EVM network.

The $BID token is the native token utilized by BIDSHOP to facilitate marketplace transactions. You can earn the token by participating in governance or purchasing it on exchanges supporting it. Buyers can get NFTs at a minimum of 90% off, while sellers can generate extra liquidity streams above their NFTs’ floor price.

Benefits for Users

Users can earn base and bonus rewards based on the number of bids they make by staking $BIDS tokens on the platform. The point multiplier increases as the amount of $BIDS staked increases. Stakeholders also gain governance rights, allowing them to propose and vote on platform updates and allocate bribes to specific auctions to increase bid/point ratios.

A seller can earn listing rewards, determined by the number of player bids, and receive 100% of the listing price. Following each auction round, these rewards are paid out in wETH and can continue to be generated indefinitely until the NFT is sold or delisted. Additionally, sellers who list their NFTs before the platform launches receive a pre-creation listing bonus, increasing the distribution of listing rewards.

LiquidFactory.io has been working on the BIDSHOP marketplace, which will launch soon. 

3. Eqoty

Eqoty is a content-protected marketplace dApp for utility-backed music NFTs that fully uses Secret Network’s on-chain private data. Through decentralized, encrypted NFTs and long-term storage, the platform seeks to provide true digital music ownership.

With significantly lower fees than any Web2 solution, Eqoty enables artists to monetize their music through on-chain music sales and streaming. The platform makes it simple for musicians to publish utility-backed music NFTs for sale, featuring content protection and monetization options that are only available on a blockchain like Secret Network, which provides privacy.

So, Eqoty’s initial features include payment splitting, limited quantity/collectible sales, and sales of any quantity. The platform also has plans to roll out native apps, benefits, and increased payment options.

EQOTY Benefits

Through EQOTY, musicians can directly license their music to fans for remixing while also giving those fans a way to get paid for their remixes. In addition, EQOTY provides platform users with tangible benefits like concert tickets.

By providing these advantages, EQOTY probably hopes to foster a closer bond between artists and their followers and also give them a way to increase the money they make from their music. Additionally, allowing music fans to remix songs and collect royalties may contribute to the growth of the original work’s value, popularity, and reach.

Conclusion

The Secret Network has emerged as a privacy-focused blockchain platform, offering a secure and private environment for buying and selling NFTs. The ActiList, BIDSHOP, and Eqoty are three of the top NFT marketplaces operating within the Secret Network, each providing users with a unique shopping experience and a wide range of NFTs.

With the growing interest in NFTs, more marketplaces are expected to emerge within the Secret Network, further enhancing buyers’ and sellers’ privacy and security.

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