Overview
Uptick on IRISnet Marketplace has the richest and most varied NFT assets on Cosmos; a host of global creators, multiple NFT categories supporting various media formats and the most used web and mobile terminals in the entire Cosmos ecosystem. Uptick on IRISnet Marketplace provides users with little thresholds for NFT creation, and the platform provides four interesting sales models to achieve diversified sales results.
Over the past two years, the Uptick Marketplace on IRISnet has recorded constant growth in the wider Cosmos ecosystem. It is the biggest ecosystem application on IRISnet, and also the largest NFT marketplace in native Cosmos ecosystem. We value the feedback from every community member, and have made improvements constantly. Uptick on IRISnet marketplace has always maintained a high frequency of iterative updates and regularly launched new features, operated in business grade.
With the team’s further exploration and understanding of the blockchain world, and with the further improvement of crypto technology, we found that there are many places in Uptick on IRISnet marketplcae that deserve further improvement. And, in conjunction with the upcoming Cosmos Game of NFTs event, we felt it was time for an all-around upgrade for Uptick on IRISnet marketplace, in order to make its growth sustainable along with the progress of the Cosmos/IRISnet infrastructure.
Objectives
In order to strengthen the ‘Uptick Marketplace on IRISnet’ position in the native COSMOS NFT market, we are planning for the major upgrade based on these three categories.
-
Optimization of underlying and data structures
-
Function optimization and new additions at the application level
-
Preparations for NFT cross-chain scenarios
Please keep in mind all these enhancements are not just for the product itself, all planned points are driven by the next phase of business operation in 2023.
Optimization of underlying and data structures
Based on the fact that more and more business scenarios are currently supported, the data structure of the old version is inefficient in processing and has a high error rate. We plan to transform the underlying data, including but not limit to:
-
Transform the database structure
-
Maintain historical data compatibility
-
Maintain the newly generated on-chain data with metadata standard
-
Modulation based on the business scenarios
-
Data interface with open APIs
-
Make system open to NFT related web 3.0 apps
Function optimization and new additions at the application level
The overall NFT market moves forward in the industry rapidly. Uptick marketplace is keeping in sync with the market trend. While establishing the existing functionality, a pipe of new functions and features has been accumulated for months. It’s time to lay out this optimization and improvement plan. It includes but is not limited to:
-
No longer distinguish whether NFT is a first-hand commodity or a second-hand commodity, and NFT will be aggregated according to the holder.
-
The “Resale” will be removed in the Uptick on IRISnet mobile app, and the advanced filtering and sorting functions, consistent with the web version, will be added simultaneously.
-
The personal profile and collections section in the Uptick app will also undergo a supporting transformation.
-
The auction process is simplified, and the contract will be automatically triggered after the auction period ends, no longer requiring the seller to operate.
-
Flexible rights management for NFT creative works.
-
Usability improvement
-
Enhanced token incentive module
- Support diversified NFT assets on IRISnet with interoperability among IRISnet-Wenchang ecosystem, including but not limited to the valuable NFT assets transferred from Wenchang Chain.
- …
Preparations for NFT cross-chain scenarios
Uptick marketplace on IRISnet is one of the multiple chain NFT marketplaces by the Uptick team. IRISnet aims to provide the NFT hub to native Cosmos ecosystem. The interchain of NFT is an essential scenario for the next step development of the NFT market. Currently, ICF, IRISnet, and other parties are building the testing environment for the upcoming interchain NFT case - ICS-721. Uptick team is preparing for it actively.
Since the Uptick NFT marketplace is the major application on IRISnet, we plan to make the Uptick marketplace compatible with the interchain scenario. It requires the upgrade of marketplace infrastructure and also the application logic on top of that. This will be part of the overhaul of the marketplace.
Game of NFTs (GoN) is a program having public incentivized testnets and hackathons that will test the Interchain NFT Transfer (ICS-721) feature and help the Cosmos community prepare for this capability as well as explore applications. No matter the size and scale of GoN, Uptick marketplace is determined to participate and push this move forward. This action is expected to happen in Q1 2023. Once the test period is done, Uptick marketplace will become the first NFT marketplace with ICS-721 interchain support in business operation mode.
As an active member of the COSMOS community and a solid partner of IRISnet, we will fully support and participate in this activity. We will directly operate the NFT cross-chain through the Marketplace interface to realize the mutual conversion of NFT between this Uptick IRISnet version and all other Uptick marketplace products, such as the Uptick EVM version and NFT Ecosystem applications.
Timeline and planned future work
Since it requires intensive investment of energy and resources from the team, we decided to raise this plan as a product and community operation enhancement proposal to the community. We believe this is the way to build and grow together, to make NFT the essential part of the native IRISnet platform and be inter-connected in the wider native Cosmos ecosystem.
Phase I : 2023.1.3 - 1.14
Proposal, specing, scheduling
Phase II: 2023.1.16 - 2.10
Optimization of underlying and data structures
Phase III : 2023.2. 1 3 - 2 . 28
Function optimization and new additions at the application level
Phase IV: 2023.3.1 - 3.15
Preparations for NFT cross-chain scenarios in the marketplace infrastructure and application
Phase V : 2023.3. 16 - 3. 31
Final test and adjustment, get things ready
Official launch with the product and the associated market campaigns.
Budget plan
The entire upgrade program will last for 3 months. A team of 8 people will be dedicated to this effort, with a total of 24 man-months.
The total minimum budget is estimated to be 75K USDT. Among them, 60% (45k USDT) will be used to cover development costs, and the remaining 40% (30k USDT) will be used for marketing campaigns. We request the community pool to support this overall plan.
According to the recent market value of $IRIS ($0.013), the total estimated number of IRIS tokens is 5,769,231, which is 3,461,539 IRISnet to cover the development costs, and 2,307,692 IRISnet for marketing campaigns.
Conclusion
Although Uptick on IRISnet is already a feature-rich and user-friendly NFT marketplace, it still needs an overall transformation and upgrade. It not only includes the optimization of the underlying data structure, the overall UI upgrade, the improvement of existing functions, but also the integration of functions related to NFT IBC. This is the way to make Uptick on IRISnet maintain it as the important COSMOS native NFT marketplace and grow with the market in 2023.
We believe this major upgrade will strengthen the NFT hub position of IRISnet in the wider Cosmos ecosystem and IRISnet-WenChang interchain ecosystem, and also bring more value and usage to IRISnet’s platform token.
We post this in the forum for community feedback and discussion. Then we plan to turn it into a proposal. If the proposal is passed, we will invest 3 months to carry out the overall transformation and the Uptick Marketplace on IRISnet 2.0 will be officially launched on 31st March, 2023.