Truth Labs Opens Dedicated Marketplace
Truth Labs, the company behind Goblintown and Illuminati, opened its own marketplace Thursday.
The marketplace, built by Snag Solutions, has all of Truth Labs NFTs available for purchase for a 5 percent royalty fee, which goes toward the project and marketplace operations, according to Snag Solutions CEO Zach Heerwagen. The marketplace will not aggregate listings from other sites like OpenSea or LooksRare, Heerwagen said.
Terms of the partnership were not disclosed.
Snag Solutions is the company that ApeCoin DAO recently tapped with building its marketplace which will feature all of the Yuga Labs NFTs and charge just 0.5 percent in fees for ETH transactions and 0.25 percent for APE transactions (all the APE fees and half the ETH fees are assigned to a community wallet).
Snag Solutions, which was started by Heerwagen and Jason Jong (former DoorDash managers), began its marketplace building with NFT projects like Crypto Chicks and Citizens of Tajigen and in talks with more than 15 NFT projects over the next two months, according to Heerwagen.
Snag Solutions is the latest option to enter the competitive marketplace landscape. The company seems to tailor its fees to each project partner. On the subject of stolen NFTs, Heerwagen said the marketplace would block transactions for those, or for compromised wallets, but will require a police report for proof of the theft.
“This marketplace launch kicks off an exciting second chapter for Truth Labs that will bring characters from both the Goblintown and Illuminati ecosystems together, starting with a single marketplace experience,” the release said.
The Truth Labs NFTs include: goblintown.wtf, IlluminatiNFT, The 187, grumpls, mcgoblintown.wtf, IlluminatiFT DAO, UNDAO and the IlluminatiNFT Illuminaries, mint, believer, and community passes.