Haste Labs: Take It NFT is an auction style where everyone is a winner

In September 2022, I wrote an article that took a look at Take It NFT, a different marketplace for digital assets. I caught up with the developers behind the NFT platform, from Haste Labs.

What was the thought process behind creating the auction style market for NFTs?

Haste Labs Team: We saw many marketplaces that use a “mint” style where the user runs to click a button to buy an NFT they may or may not be happy with. Finally, these NFTs will quickly be listed on a secondary market for sale. When we launched the proof of concept, we had a single auction style called Take It, which was our own twist on how NFT auctions could work differently.

The Take It auction style was designed to create an experience where users can participate in an auction for the specific NFT they want, and if they participate but end up not “winning” the NFT, the amount they paid is returned together with a ~6.6% profit. It really is an auction style where everyone is a winner. Either you win the NFT you wanted or you make a profit.

Given that Take It is developed by the same company as Haste Arcade, how did the team come up with the idea of ​​mapping ILP™ to share revenue with top users?

At our core, we believe in the power of micropayments as a way to create excitement for our users. It’s evident throughout the arcade, and we also wanted to be able to demonstrate that power in our NFT marketplace.

Our leaderboard is a way to recognize the users who have made the effort to participate across many auctions. 1.5% of the amount of each Take or Mint is split and distributed to the top 10 users on the leaderboard.

We are also currently building a referral system so that when a referee writes or “takes” an NFT, the referee is rewarded with a percentage of the amount the referee spent.

Will any utility be added to hastily created NFTs, such as the Open Beta tokens or the Club Neon collections?

I want to say it again, a big thank you to all the users who participated in the tests and finally bought NFTs from the two collections back in June. There are some fun things we can do with these collections, but nothing is planned at this time.

It would be interesting to see utility NFTs from third parties via the Take It model, such as music NFTs, or items that can be used in another application, is this something the team has considered implementing?

We are certainly interested in supporting other media types. We work with one creator who has music based items they want to release. That’s something we’ll see drop over the next couple of weeks. As for greater utility and adding other capabilities to the Run class, we’re open to that as well. Ultimately, these kinds of improvements will be driven by the creators we see coming to the platform, so we can satisfy their needs alongside what’s happening across NFT markets.

Will users be able to send NFTs purchased on Take It to other wallets or applications?

Collections dropped on Take It have the potential to be used in games in the Arcade. It’s made possible given that it all happens within the team’s ecosystem of products. As for sending NFTs to other wallets or applications, that’s something we should consider supporting in the future.

How effective do you think the voting model is in terms of curating the collections on the platform?

In short, it is too early to answer. We have around 15 collections seeking votes. Most of them have been submitted within the last two weeks. We’ve put a 45-day limit on collections seeking votes to keep the curation fresh. It will be interesting to see how these collections perform in this first 45-day period.

I think creators can’t just submit a collection and then wait. Creators need to find different channels to tell people about their work and entice them to come to the platform to vote. Ultimately, the voting system is a way to give the creator some level of confidence that there is interest in their collection, so that when it drops, there is an expectation of the collection’s performance.

Not sure, id do a market test, maybe some opinion polls etc to get an overall view.

Since it’s only one vote, I personally wouldn’t pay over 0.25.

But different economies can affect it.

— Richard Cranium @1163 (@RealRichCranium) 10 August 2022

Users have complained that $1 additional votes are too expensive, how do you address that as well as iterate and improve (or even gamify) the voting system?

This is the first iteration of the voting system and we are excited to receive feedback from users joining the platform. For those unfamiliar with the voting system, everyone gets one free vote per collection with the option to pay $1 for each additional vote per collection.

Once a collection has received 50 votes, our team works with the creator to build and launch the collection. The intent of the voting system is to give the creator some confidence that there is interest in their collection so that when it drops, there is some expectation of the collection’s performance.

What we have to balance is the cost per additional vote and the total number of votes to reach the launch. For example, if each additional vote is only 1 kroner, one user can only pay 50 cents to reach the launch. That would be a false indicator of market demand for the collection. This will 100% be something we continue to tweak as we get feedback and the user base grows.

As we approach the opening day, we will make a number of announcements regarding #NFTs which is released as part of the new Monster Bombs game release.

Today we’re announcing 50 Physical + Digital Haste Arcade jerseys.

Available at 4:00 PM PST (3:00 PM EST) on @TakeItNFT pic.twitter.com/hEOmkPaqnZ

— Haste Arcade | Game Platform (@hastearcade) 9 September 2022

How will Haste integrate Game Collectibles from Arcade into the Take It platform?

This is a good question and one that needs to be thought through carefully to ensure that we create the best experience for our users.

We currently have a marketplace in the arcade where users can sell their in-game collectibles. We also have the Take It Marketplace which can support the sale of collectables. How does Arcade’s marketplace find the right synergy with Take It NFT? It is something we will think about over the next few months.

Will the HST token be integrated into the Take It platform in any way?

We are always looking for ways to add utility to the HST token. Currently, collectibles in the Arcade can be purchased with HST at a discounted price. A similar feature can be used when buying NFTs on Take It.

When will referral rewards be implemented and how will they work?

The referral system is on our short-term roadmap. The referral data from the proof of concept has already been migrated over and these referrals earn their percentages from the judges. The referral system will allow referees to earn 1.5% of each mint action or perform actions the referees perform. Once the referral system is released, the user will be able to find their referral link and share accordingly.

Besides the upcoming Monster Bombs collectibles, what’s next for Take It?

We are all extremely excited about the Monster Bombs collection. The combination of physical and digital goods will be the first straw that really ties these two concepts together for us along with the synergy between Marketplace and Arcade.

In the last week we have also released many UI updates along with the main new feature, our secondary marketplace. We feel that we have a well-rounded product that can compete in the market. We’re shifting a bit of priority towards finding creators who need a marketplace and helping them get their collection launched.

This is an official call to action for creators to connect with us on Twitter (@TakeItNFT) or join our Discord! I don’t want to leave you completely empty-handed here. We have many ambitious directions we can take the platform. We see opportunities such as integrating with BSV-based open order books, providing public access to APIs for white-labelled experiences and integrations with other blockchains.

Thanks to Haste Labs for taking the time to answer my questions. I hope readers learned more about the Take It platform and their plans going forward.

Watch: Haste Arcade’s Joe DePinto and Ian Duckworth on Hashing It Out

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