STEPN Parent Company Find Satoshi Lab Launches Membership-based NFT marketplace MOOAR

Image source: MOOAR

Quick take:

  • MOOAR is a profile picture NFT marketplace with a royalty policy.
  • The marketplace has adopted a membership-based model to cover development and maintenance costs.
  • STEPN members who fulfil certain criteria will get free membership in MOOAR.

Find Satoshi Lab (FSL), the Web3 gaming and development studio behind STEPN, today announced the launch of the MOOAR, a multi-chain NFT marketplace on Solana and Ethereum. MOOAR joins STEPN and DOOAR, a decentralised exchange, under the umbrella of FSL’s ecosystem.

MOOAR is a profile picture (PFP), creator-centric NFT marketplace that aims to ensure that creators are paid their dues with a royalty policy of 0.5 -10% with 2% default when a collection is minted. The platform consists of an NFT marketplace, as well as an NFT launchpad, integrating two essential services into a single platform.

Users will be able to buy and sell NFTs, vote for their favourite project on the launchpad, and even gain account levels for more perks, all with no service fees. With MOOAR, FSL is initiating its first injection of new utility for STEPN’s native token, $GMT to create value for the entire FSL ecosystem, where its three projects work in tandem to power a self-sustaining model without the need for members to pay additional service fees outside of the initial platform membership fees.

With the raging debate surrounding zero or optional royalties in the NFT space, MOOAR wrote in a blog post that it believes that “optional royalties set a dangerous precedent that will ultimately lead to the demise of the NFT market as a whole.”

Commenting on the topic, Yawn Rong, co-founder of Find Satoshi Lab said: “FSL believes that creators deserve royalties, which is why we have decided to utilize royalties for MOOAR. We feel the zero service fee is only sustainable through a membership model, and for FSL and the greater industry to sustain itself, we must value our creators. We are looking forward to further our mission to educate and introduce millions of new Web2 users to Web3 and the world of NFTs, inspire a healthy lifestyle by gamifying exercise, and combat climate change.”

At $29.90 per month, MOOAR’s membership model is meant to cover development and maintenance costs. FSL says that the membership fee is then made-up by the 0% service fees on MOOAR, which usually turns into substantial savings. For instance, if one trades a Bored Ape Yacht Club (BAYC) NFT for 60 ETH at a marketplace that charges 2% platform fees, that fee would cover 5 years of MOOAR membership from that transaction alone.

MOOAR is offering free membership to STEPN users who own the Genesis Sneakers, have run more than 1,500km or have given out more than 50 activation codes. The length of the complimentary subscription will be based on the criteria fulfilled and eligible users should have received an email from STEPN with further information.

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