Our main motivation for starting Verse was to make it very easy for people to get onboarded to NFT space. Owning a private wallet can be intimidating and many people yet to take their time to educate themselves of how to use it and guard it properly.
For this reason we built Verse by combining aspects of both centralised and decentralised platforms. We believe that collectors should own their NFTs and keep them in self custody wallets, however the process of acquiring these NFTs should be as simple as possible, allowing great flexibility and best user experience.
What is centralised?
- Payments system. While we mint our NFTs on Ethereum, our payment system is capable of accepting payments outside Ethereum ecosystem. This way we can accept Credit/Debit card payments as well as payments from other blockchains (payments in Tez coming in January).
- Minting system. All NFTs purchased on Verse are minted to the smart contract by our system. This way even if a collector does not own a private wallet NFT can be minted on Ethereum blockchain and patiently wait until collector is ready to withdraw it to the private wallet.
- Custodial wallet. We offer a custodial wallet to users who are new to the space and are not feeling comfortable owning a private wallet yet. Most experienced collectors will withdraw NFTs to private wallets.
What is decentralised?
- Ownership. Once NFTs are minted they can be withdrawn to private wallets of the collectors. We're working on a feature to mint directly to the wallets of collectors (coming in January).
- IPFS storage. NFTs purchased on Verse are stored on decentralised IPFS network. All NFTs collected on Verse are designed to outlive us all.
- Smart contracts ownership belongs to artist. We have developed a system allowing artists to mint a smart contract that will be available for minting on Verse. This means that artist owns the contract which is verified on chain which is very important to the collectors. NFT collection will be linked to the artist profile on OpenSea and other decentralised platforms. Artist would give a temporary permission for Verse to mint NFTs into the contract as a result of the sale. After the sale ends this permission should be taken away by the artist.
- Royalties system. Verse supports EIP-2981 Ethereum Royalty standard. While this serves as a guidance to marketplaces how to apply artist royalties, it is still possible to marketplaces to bypass it. Our contracts implement OpenSea Operator Filter Registry and is compatible with the Royalty Registry.