RandomEarth Partners with Figment to Bring its Decentralized NFT Marketplace to Terra

(Originally posted on Figment’s Blog)

We are excited to announce that DataHub will be powering RandomEarth, a premier decentralized NFT marketplace built on Terra. DataHub allows application developers, exchanges, wallets, custodians, and data providers to easily connect and interact with Web 3 protocols without having to manage complex infrastructure, which in turn, streamlines development across the Web 3 ecosystem. Sign-up for DataHub today and learn more about the partnership by reading below.

Terra Overview

Terra is an application-specific blockchain built on  Cosmos SDK and Tendermint. The Terra protocol deploys a suite of algorithmic, fiat-pegged stablecoins underpinning a thriving DeFi ecosystem like Anchor, CHAI, and Mirror Protocol. LUNA, the native staking and governance asset of Terra, absorbs the short-term volatility of Terra’s stablecoins, with Terra’s stablecoin (e.g., UST) demand a function of demand for Terra’s DeFi ecosystem -- accruing value to LUNA via seigniorage.

UST currently exists on Terra, Solana, Ethereum, and Binance Smart Chain, with various bridging solutions. Following the recent Columbus-5 upgrade, Terra is also now IBC-compatible, unleashing UST and Terra asset liquidity on the Cosmos ecosystem. Col-5 also introduced some meaningful scaling improvements, bolstered staking yields for LUNA, and simplified economic logic.  

"Terra is one of the fastest-growing Web 3 ecosystems and we believe NFTs will bring its next wave of adoption. Figment brings proven expertise supporting top NFT projects across top Web 3 protocols, we're ready to power this growth"  Yannick Folla  - Figment, Product Lead DataHub

Terra’s Platform Offering

Terra has become a central hub for developers to build Web 3 applications, providing interoperability that allows users to trade assets across multiple blockchain platforms. With Terra, developers can:\

  • Build dApps that will generate Yield via Anchor
  • Build smart contracts in Rust, Go, or AssemblyScript
  • Create platforms utilizing Wormhole to allow trading across multiple blockchains connected by Cosmos IBC
  • Mirror Protocol creates synthetics that track real-world prices to bring new assets to the blockchain
  • NFTs can be created and traded across the Cosmos ecosystem via IBC\

Recently, the Terra ecosystem has exploded with dozens of projects collaborating to build the foundation for a vibrant DeFi community.. NFT traction has particularly accelerated, with numerous projects focusing on marketplaces, Metaverse/gaming, tooling, and collectibles

such as Galactic Punks. In addition, the Prism Protocol will allow developers to take DeFi projects to the next level by splitting digital assets into yield and principal components.

Click here to access a clickable version of Terra Ecosystem map.

What is RandomEarth?

RandomEarth is an NFT marketplace built on top of a decentralized limit order book. The RandomEarth protocol launch will focus on bringing a million new users to Terra by building a NFT marketplace equipped with social networking features. Full details can be found here:  RandomEarth: Towards a Decentralized Exchange on Terra — for NFTs and Beyond

RandomEarth Protocol Features

RandomEarth has a rich feature set that is unique to Terra and includes:

  • Un-collateralized Bidding: Bids are stored off-chain which allows users to state intention of purchasing without any gas fees upfront
  • Royalties: Creators can set royalties that are immediately withdrawable upon execution of a trade
  • Low/No Gas: **Trading on LocalTerra provides inexpensive transaction fees

RandomEarth NFT Marketplace Launch

The RandomEarth NFT marketplace launch focuses on building a NFT marketplace with a social networking component. Initially targeting partnerships with popular athletes, celebrities, and content creators with NFTs backed by intellectual property and current fan base. Users will be able to interact with each other and creators through social network features such as:

  • NFT badges: promote favorite creator on profile
  • NFT Rewards: increased options for engagement
  • NFT Gifts: invite new users to network or use as rewards
  • NFT Access Tokens: unlock ungated content
  • Gaming SDKs: create avatars that can be used across different platforms
  • Content Creation Tool: similar to TikTok

Why Build with Datahub? 

What enables RandomEarth to build on Terra? DataHub acts as the command center powering the integration and onboarding of users between RandomEarth and the Terra ecosystem. Terra developers no longer have to worry about managing infrastructure as we offer direct access to Tendermint’s RPC and Terra’s REST APIs via our highly available full node infrastructure. DataHub is the easiest way for developers to build, launch, and scale new Web 3 applications. It powers next wave NFT marketplaces, DeFi applications and provides access to top Web 3 protocols. With DataHub, developers now have access to Web 3 tools through our enterprise-grade infrastructure. \

DataHub offers one of the most effective ways for developers to easily build on Terra with speed and robust infrastructure,” says Do Kwon, Co-Founder and CEO of Terraform Labs. “Eliminating the overhead for interacting with the Web3 and blockchains can unlock a torrent of innovation in popular aspects of DeFi like NFTs, Metaverse gaming, and much more on Terra.”

Terra DataHub offers:

  • Gateway Access – RPC/LCD read access, and ability to submit transactions
  • High availability access to custom network APIs backed by redundant infrastructure
  • Easy integration
  • High-quality support
  • Low maintenance
  • Enterprise-grade infrastructure

DataHub allows developers to utilize a blockchain’s powerful and unique features without having to become protocol experts or manage complex infrastructure. Looking to cut development costs and time? Don’t wait, sign up for  DataHub today.

Helpful Resources

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About Figment

Figment’s purpose is to build a better Internet by increasing usage of the next generation of Proof of Stake blockchains.

These efficient blockchains give people greater control of their data, more privacy, and increase financial inclusion. By eliminating intermediaries they also limit the power of centralized data monopolies, rent seeking financial institutions and anti-social algorithms.

We bring our mission to reality by helping investors stake their tokens; earn yield and participate in securing the blockchain. Our Hubble and Prime applications as well as our governance expertise allow token holders to analyze, monitor and make informed decisions. We build Web 3 developer communities via our Learn education program and then make it simple for these developers to launch applications and manage smart contracts via our DataHub platform. And finally by building and operating The Graph based indexers we enable the efficient search and querying of blockchain data.

**About Terra **

Terra is building new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native governance and staking token, Luna. Terra’s mission is simple: set money free by building open financial infrastructure.

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