The upcoming decentralized Marketplace from Somnium Space is a significant enhancement powered by CUBE & built on Polygon, introducing a new paradigm of user empowerment and financial autonomy for creators. This system is equipped with a new user-friendly interface, allowing users to mint their items uploaded through the SDK. Creators can conveniently place their items on the Marketplace or directly in VR (inside Base Reality or user generated Worlds) for Sale, Auction, or Dutch Auction, as well as make purchases and bids on items from other users. In addition, users are given the ability to create their own collections and add items to them, further enhancing the platform’s flexibility.

Certainly, one of the key upgrades to our Marketplace is the addition of the Creators Royalties system. This groundbreaking feature allows creators to activate a perpetual 5% royalty on their items, which is applied each time an item is resold. What makes this especially notable is its transparency and on-chain operation. This not only ensures creators are fairly rewarded for their work over time, but it also strengthen the entire process with an unparalleled level of transparency, engraving trust and security in every transaction.

This comprehensive upgrade positions the Marketplace as a monumental step forward in empowering creators. By providing the capacity for creators to mint and monetize virtually any item, scripts, or services, it offers unparalleled monetization capability for world builders. It democratizes the virtual economy, allowing thousands of creators to truly monetize their creative skills, retain full control over their possessions, and maintain their independence. Additionally we have implemented royalties, allowing original creators maintain steady stream of income by benefiting from secondary sales. This pioneering system is set to revolutionize the concept of ownership and economy within the metaverse, reinforcing Somnium Space’s commitment to leveraging blockchain technology for a more democratized and immersive virtual experience.