The marketplace
Last updated
Last updated
The SpaceBudz Market was the first contract-based marketplace on the Cardano blockchain.
It was an innovative platform for trading unique digital assets known as SpaceBudz. The market operated on the extended Unspent Transaction Output (eUTxO) model, similar to cash transactions, enhanced by Plutus smart contracts that allowed for custom transaction rules.
In this marketplace, each SpaceBud had two types of eUTxOs: Bids and Offers. Special bid NFTs were created to ensure that only legitimate offers were placed. The process included:
Starting a bid: Users made offers higher than a set minimum with a specific NFT linked to the desired SpaceBud.
Overbidding: Another user could bid more for the same SpaceBud following the same process.
Listing (Offering): Owners could list their SpaceBud by sending a UTxO with it and the offer details to the marketplace.
Canceling a bid or listing: Users could retract their bids or listings by signing a transaction and, for bids, initiating the process again.
Buying: To purchase a listed SpaceBud, users spent the UTxO with their bid, with part of the payment going as a service fee to the contract owner.
The SpaceBudz Market was designed to be secure, with smart contracts enforcing transaction rules, providing a controlled and automated environment for trading digital collectibles.
The marketplace was updated by the more advanced Nebula protocol. Check out this blog post for more in-depth information:
