User Manual for NiftyConnect v1.0 Beta Test
0x9Df5
November 14th, 2022

Great news for NFT collectors and traders - as the leading decentralized NFT aggregation trading protocol, NiftyConnect, together with our eco-partner MetaPath, is thrilled to announce that the BETA TEST IS COMING!

If you’ve ever wanted to see how the real web3 NFT trading would present itself, NiftyConnect got you covered. Unlike other marketplaces running separate and isolated order systems on centralized facilities, NiftyConnect empowers eco-partners with adequate NFT liquidity by keeping a shared on-chain order book in a 100% decentralized way.

Why NiftyConnect? 🧪

NFT liquidity has been segmented due to a growing number of NFT marketplaces competing for order flows in an aggressive manner more than ever. This makes traders harder to make deals on full liquidity and struggle to find the best prices. Aggregators fix this problem to some extent. However, the underlying orders are still isolated, and aggregators are not able to make profits as marketplaces set transaction fee rates respectively, leaving limited space for aggregators to add markup.

To make things happen, NiftyConnect creates an aggregation trading infrastructure with open-source order books shared by various sorts of front-end applications, laying the foundation for real aggregated liquidity.

NiftyConnect is the leading decentralized NFT trading protocol that applications can adopt, plug into, jointly build, and share the order flow data on-chain. Any application with a NFT trading marketplace can be our eco-partner and easily use the protocol, NFT marketplaces, aggregators, wallets, social apps, data platforms, and more.

Partners share order flows with NiftyConnect and other partners - contribute liquidity to the ecosystem, and benefit from the liquidity of the whole ecosystem. This will save their effort and cost by focusing on crafting better user-experience products. Moreover, it will effectively benefit the entire NFT ecosystem by improving the matching efficiency of NFT trading, essentially solving the industry-wide problem of insufficient liquidity of NFT assets, and also slowly diminishing the dominance of centralized order systems.

What’s Beta Test? 🧪

We hope the project is developed, used, and fully owned by the community, who has already made significant contributions as we keep building. During the Bug Bounty Program in May 2022, people looked at our smart contract code and helped to improve it. Now the smart contract has been audited by PeckShield, securing safe trading through the protocol. The same with the website. We made it to display all shared orders on a web page (it’s user-unfriendly to read orders on-chain), though we don’t mean to keep a well-functioning front end.

Closely working with our first eco-partner - MetaPath, the NFT aggregated marketplace, we are more than happy to invite the community to Beta Test, experiencing how smooth it is to trade your NFT through MetaPath and see the order captured by NiftyConnect protocol, or make an order directly on the protocol and trade it on MetaPath, all for 0 platform fees. Suggestions on the product are warmly encouraged. Participants could win Early Supporter NFT (proof of future token airdrops) and share $20K cash rewards. Moreover, we offer special rewards for whoever describes your experience with NiftyConnect on social media and helps reach out to potential eco-partners.

NiftyConnect is now only built on Ethereum, but will go multi-chain soon. Any NFT collections compatible with ERC-721, ERC-721A, and ERC-1155 token standards are well supported by the protocol.

Time of Beta Test 🧪
From Nov 18 11:00 to Nov 30 11:00 (UTC+8)

Closed Beta - first 3 days
From Nov 18 11:00 to Nov.21 11:00 (UTC+8)

Open Beta - following Closed Beta
From Nov.21 11:00 to Nov.30 11:00 (UTC+8)

Qualification 🧪

  • Open Beta

Open to the public. Addresses registered in Closed Beta can still be used in Open Beta Test (Open Beta starts right after Closed Beta, no action needed).

  • Closed Beta

You need to get whitelisted for Closed Beta entry where listing and trading NFTs earn much more credits than Open Beta. There are 3 ways to be whitelisted. You can do either to gain access.

🧪 WL raffle from campaign partners

🧪 WL from partnered KOLs

🧪 Giveaway events on NiftyConnect’s social media

The list of partnered projects and KOLs will be disclosed on Twitter (@NiftyLabsHQ) soon with the whitelist claim link. Confirm if you are whitelisted through ⬇️

Tasks and Rewards 🧪

Participants do Listing Tasks and Trading Competition during Beta Test while earning more rewards for the same initiative in Closed Beta than in Open Beta.

Early Supporter NFT is collections only for Beta Test participants as proof of future token airdrops, and privileged access to upcoming new product tests & marketing campaigns. There’s no cap for General Early Supporter NFT insurance. Premium Early Supporter NFT has a cap of 100. NFT mint will be live within 30 days after Beta Test.

Listing Task
List any NFT for sale on MetaPath or through the NiftyConnect official website. Listing has to last for at least 2 hours or be sold within 2 hours upon listing.

Do the Listing Task to get General Early Supporter NFT. As long as you list an NFT you can claim 1 General NFT, 1 more if the listing action takes place in Closed Beta, and 2 more if the listed NFT is a blue-chip* one. For example, a whitelisted trader who lists a non-blue-chip NFT in Closed Beta and a blue-chip NFT in Open Beta, both lasting for more than 2 hours (or sold within 2 hours), will get 5 General NFTs. Listing in Closed Beta without a whitelist will not count for rewards. Each address can collect up to 10 General NFTs.

Blue-chip NFT collections refer to the top 25 collections on Ethereum by all-time trading volume excluding collections using token standards other than ERC-721, ERC-721A or ERC-1155, data retrieved from DappRadar.

You can check eligibility for the General Early Supporter NFT claim through https://www.niftyconnect.org/beta once you do Listing Task (it might need a few minutes to update data).

Trading Competition 🧪

Sell or buy NFTs on MetaPath or NiftyConnect to earn point rewards. Points add up during Closed and Open Beta. The top 100 point collectors, on a cumulative basis, will be announced at the end of the Beta Test as winners of the Trading Competition, able to claim 1 Premium Early Supporter NFT (100 in total) and share $20K cash rewards.

Trading in Closed Beta gets 3x point incentives than Open Beta. In Open Beta, a successful sale gets 5 points and a purchase gets 3 points (bulk trading with several NFTs in an order will be viewed as one sale/purchase), while in Closed Beta it gets 15 and 9 respectively.

Do Twitter Task to earn extra 20 points. Make tweets describing your experience with NiftyConnect, @NiftyLabsHQ, and @platforms you think could be our eco-partners (eg. @gemxyz, @geniexyz, @blur.io, @MetaMask, you name it). Take a screenshot of the tweet and DM our Twitter account (@NiftyLabsHQ). Don’t forget to send over your ETH address together with the screenshot.

Cash rewards are calculated based on the cumulative trading volume of each user, as a percentage of the total trading volume of the top 100 collectors during the Beta Test.

You can check eligibility for Premium Early Supporter NFT claim and cash rewards https://www.niftyconnect.org/beta right after Beta Test.

How to List & Trade 🧪

List NFT

  • List on MetaPath: visit https://www.metapath.me/, go to Aggregated NFTs, connect your ETH wallet, hover over the wallet address and click My Profile in the dropdown list where you can see NFTs available for sale. Select the NFT you’d like to list, click the image and go to Pending Order. Mark NiftyConnect as the marketplace to list the NFT, set a price and start listing.
  • List on NiftyConnect: visit https://beta.niftyconnect.org, go to Launch App, connect your ETH wallet, then you are able to see your NFTs available for sale. Click Sell button on the NFT to be listed, select listing type and duration, enter sales price then complete listing.

You can list on either MetaPath or NiftyConnect, though it would be good to try both. Once an NFT listed on MetaPath, you can find it on chain, or you can go to Orders section of NiftyConnect website as it captures on-chain data real time. NFTs listed through NiftyConnect will be displayed on MetaPath as well.

Trade NFT

  • Trade on MetaPath: to sell, list NFTs as instructed above and wait for buyers to place an order. Set reasonable prices to maximize the likelihood of making a deal. To buy, find NFTs listed through NiftyConnect and make the purchase.

  • Trade on NiftyConnect: to sell, list NFATs as instructed above and wait for buyers to place an order. To buy, find the NFT you are interested in, and click Buy on the right side.

🧪 Website: https://beta.niftyconnect.org/
🧪 Twitter: https://twitter.com/NiftyLabsHQ
🧪 Discord: https://discord.gg/cDFB7sYXpe
🧪 Mirror: https://mirror.xyz/0x9Df5040F71dA65F6693395040350bfc2a13DF6DE

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