How we partnered with OpenSea.io to give users the ability to freely trade their digital racehorses.
Long story short
ZED has now been live for a little over two months. We launched in public stealth with the early release of our rarest racehorses on January 17th, 2019. Since then, we have successfully sold over 1,700 digital racehorses! Given how early we are into the development of the ZED ecosystem, it was good to see our users trading ZED racehorses on secondary marketplaces much earlier than we anticipated.
Our community has been trading, swapping and gifting ZED racehorses through the OpenSea platform since the first few weeks of launching. However, it was not until recently that trading really started to flourish.
Last week, a trusty Z1 (the rarest of ZED racehorses) named Zeus attracted a price tag of 3 ETH, or ~$430 USD. We were ecstatic to see our very first major trade and given that the previous owner paid 0.4 ETH, a tidy little profit of ~$370 USD was netted. As a result, we are confident that this will set the tone for future trades to come.
“As a result, over 30 ETH of transactions have occurred solely over the OpenSea platform.”
The increased listings of ZED racehorses on OpenSea was enough to spark community interest and saw more discussions take place on our community Discord channel. At the time of writing, over 30 ETH of transactions have occurred on OpenSea.
What is OpenSea?
OpenSea is a decentralised marketplace for crypto assets, which include collectibles, gaming items, and other digital goods that are backed by a blockchain like Ethereum. On OpenSea, you can trade any of these items through a smart contract, meaning that no central authority ever holds custody of your items which we think is pretty neat and shows how decentralisation can really work in a trust-less environment.
How did we get started?
The lovely folks at OpenSea reached out to the ZED team through Discord when we begun getting user and volume traction on their platform. After a quick conversation with our developers, OpenSea quickly integrated us and off we went!
OpenSea has been a real asset to ZED users wanting to trade their digital racehorses. The ability, to buy, sell and even bundle racehorses as well as having the ability to offer a referral commission or bounty to anyone who is able to help you sell is an added bonus!
As previously mentioned, in a short amount of time, there are already users who have profited up to 650% on their initial purchase. Right now, a handful of ZED’s rarest Z1 racehorses are being auctioned off with multiple offers over 500% the purchase price.
The other great thing about OpenSea is that they understand how hard dApp developers work to create valuable tokens and assets. Subsequently, OpenSea allows approved developers, such as ZED, to integrate into their platform and to share in any revenue generated from successful trades ensuring that the creators are remunerated for their work.
Adding Another Layer
OpenSea has instantly added another layer of gameplay mechanics to ZED that we have yet to roll out. To hit the ground running and providing our users with more flexibility and control over their digital assets is what decentralisation is all about.
Since our launch, there has been almost 30 ETH traded on OpenSea at an average price of 0.90 ETH. To put this into context, the highest selling early releases from ZED was 0.40 ETH; a healthy return of 250% by using the OpenSea platform.
Although OpenSea charges a flat 2.5% on all transactions, ZED has decided not to attach any additional fees until the release of ZED’s internal marketplace. ZED is not charging any additional fees on OpenSea for the time being.
Join our community
Head over to www.zed.run to buy your very own digital thoroughbred or join our Discord community for more information.