Oh boy, 1,000 Discord members later, we meet again. This time, with a more focused look at Ordiplace in and of itself, as opposed to Ordinals. The dust that was blowing has settled a bit, as sellers capitulate due to liquidity shocks and buyers accumulate. All in all, this has bought us some time, but not as much as we’d like.
Ordiplace plans on becoming the #1 Ordinal NFT Marketplace. It’s not going to be easy, it’s not going to be fast, but we’re building a user-centric platform that can and will equip users with the power to sell and buy, thereby creating an exchange that is sought after in every project, every community.
What problem are we trying to solve?
The problem here is quite simple, or should we say complex. Paraphrasing here, anon, "You Have To Understand, Most People Are Not Ready To Be Trust..."
If you’ve been in the Ordinals space for a minute, you’d realize quickly how big the problem is. Essentially, everyone is buying these NFTs to flip them later on - yes, some are buying it to forever etch their wallets into blockchain history, some for the art, but most, alas, for the cash.
https://twitter.com/dotta/status/1624306792300953601
So how does one make money? It’s quite simple, you need to sell the NFT you’re buying at a price higher than what you paid for. Buy low, sell high. Now the “sell high” has no problem at all, people are clearly willing to pay. The problem is the medium - right now, the only thing possible is blanketed Over-The-Counter trades with both parties being relatively unaware if the person will send the NFT (or the BTC) after one side has met its word, or worse, if the wallet claiming to have the NFT is even owned by the selling party.
Yes, there exist some escrows run by trustable dudes on the internet, but we see two main problems here:
Can these run with scale - that is to say, in a world where there are 1000+ OTC transactions, can a finite number of dudes handle these transactions?
Is the % paid in escrow fee really worth it, several users alike claim how exorbitantly high these are?
Can these dudes really be trusted? What stops them from deciding one day they don’t want to send the Genesis Punk or the 500BTC? (yes, that’s what we want them to be at)
Functionality of Ordiplace
Ordiplace will work quite simply, through trustless smart contracts - where the escrow in and of itself is an SC that cannot cheat, exploit or disrupt any one, or both parties. Now it’s not going to be easy to scale this in computation early on, but our Minimum Viable Product will more or less to a good degree run on the same concepts. Again, we’ve proved the market, proof of concept is what we’ll see develop over the course of the next few days and weeks.
The other thing we’re going to be adding is auction houses, the auctions that currently take place on Discord are great, but they’re limited in nature and can easily be faked - with proper deposit systems, we aim to make this process extremely convenient and fast.
Timeline of Ordiplace
Private Seed: Live on Discord (DM OrdiKing) [We’ve canceled community raise to raise from individuals, if you’re interested, join the discord here.
Minimum Viable Product: 10-14 days from Private Seed.
$ORDIP Launch: 2 days after MVP launch.
Beta Launch: In 6 hours of $ORDIP launch.
The team behind Ordiplace
Ordip is a team of passionate DeFi builders who have a decade+ of experience in TradFi systems and 3+ years of experience on ERC20 and Bitcoin-based protocols.
Collecting the entry is FREE and doing so is of no tangible benefit to the user. Just proves you were early. That’s it.