The key idea is to create a market place (namely PANDORA) whereby every NFT on sale is wrapped and hidden, and its content is only revealed when a buyer complete a purchase using Near and decide to open it afterward.
When an artist sends an NFT to Pandora, the content of that NFT (i.e the artwork) is automatically wrapped in an envelope (displayed as a gemstone).
The gemstones have different colours/types depending on their tier, which are in turn depending on the ranking of the artists (as store owners). The store ranking may be decided by one or a combination of criteria such as number of likes, views, visits or purchased NFTs in the store. The higher the store is ranked, the higher tier the gemstone belongs to and the higher price it is.
Upon purchased, the gemstone cracks open and the buyer has a short time window (say, 2hrs) to decide if they want to keep the NFT or wrap and send it back to Pandora. If they choose the later, the buyer receives a voucher that allows them to choose another gemstone of the same tier, or to pay more to choose the one of higher tier.
There is a limit to the total number of NFTs sent by a store, so as to prevent saturating Pandora with NFTs from the same store at any single point in time.
Buyer can pay NEAR tokens to:
- purchase a gemstone (or a voucher) in Pandora. All the gemstones of the same tier share the same price.
- (small amount) send an NFT to Pandora
Other than a small fee taken by Pandora, most of the payment returns to the store owner of the respective NFT wrapped in the gemstone.
Alternatively, an artist (A) can also select a gemstone (of the same tier) for free, in exchange for an NFT that they send to Pandora. If A chooses to do so, the original owner (B) of the other NFT will receive the gemstone of A. B can choose to accept or reject the deal.
- Pandora is an opportunity for artists to get an equal opportunity of exposure. This is especially beneficial for new artist whose store may not be visible in the recommendation page/search.
- It is also an opportunity to exchange their artworks with other artists.
- The main attraction is the element of surprise, and a hope that they may get a bargain from selecting a lucky gemstone.
- Since gemstones of the same tier have the same price, buyers can purchase vouchers and send it to their friends, who will choose the gemstone themselves.
The above is my initial brainstorming about Pandora. Let me know what’s you think. Thanks!