A look at Take It NFT
Take It NFT is another type of NFT marketplace launched by Haste in 2022. For “Take It Drops”, instead of simply buying an NFT and putting it up for resale, the first “Drop” lasts for 24-72 hours, where The NFTs may be “Taken.” If an NFT is taken, the next Take price will be 30% higher than the previous one. Creators still have the option to run a “Mint It Drop” which works in the usual way, where NFTs are simply listed for sale all at once without an auction period.
To compensate the previous taker, they earn and get their money back, plus a 6.6% profit. When the auction period is over, whoever is the last recipient will receive NFT in their wallet. The system is interesting in that users have to consider whether they want to make money or really want NFT within a limited time frame.
Since this platform is developed by the Haste team, the ILP™ Leaderboard is integrated in a unique way. NFT purchases are split immediately as follows:
- 82% to seller
- 10% as royalty to the creator
- 5% to the platform as a fee
- 1.5% for referral
- 1.5% to the ILP™ Leaderboard
Just like the leaderboard in Haste Arcade, the higher the place on the leaderboard, the higher share of the 1.5% share they will receive. The top spot earns 30% of the 1.5% distribution.
To get a place on the ILP™ Leaderboard, one must participate frequently in Drops. The score is calculated based on the Bitcoin SV used in auctions multiplied by the number of withdrawals made. Taking in the secondary market (which just launched in September 2022) does not affect the score.
To curate and plan outcomes, a Pre-Market Voting system has been implemented where users can vote for the next Drop. Each user gets 1 free vote per drop, but can then vote as many times as they like for $1. This curation mechanism is a great way to filter collections and prevent fraud on the platform, which is a problem that has plagued many NFT marketplaces in the digital currency space.
As such, the platform looks very smooth, clean and high signal-to-noise ration, as only Drops voted for by the community or from the Haste team have been released. In September 2022, the last Take It Drop was BSV Cyborgs.
Source: Take It NFT
With the launch of the secondary marketplace, this will be the first Take It Drop to smoothly transition to the traditional market once the auction ends. Given the bear market in digital currencies, it will be interesting to observe if this new model can disconnect from the general negative sentiment in NFTs.
As the Haste team has been releasing their own collections, they also hinted at releasing Haste Arcade Game Collectibles on the platform as well.
These Take It style drops look futuristic and tough AF 🔥. Enter and get your votes!
Ohh and btw… it’s about to get crazy when these new ones @hastearcade the game collections are starting to drop 😵
You probably want to turn on notifications 🔔 pic.twitter.com/afJNDR176o
— Take It (@TakeItNFT) 10 August 2022
Implementing a new auction-style market with DLC-like NFTs with utilities will be a very interesting combination to observe. I look forward to more drops and how the arcade is integrated with Take It in the future.
Watch: Haste Arcade’s Joe DePinto and Ian Duckworth on Hashing It Out
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