Truth Labs to Launch Marketplace for Goblins, IlluminatiNFT, and Others
Alexander Taub, co-founder of Truth Labs, announced that the platform is building out its own marketplace in the "next few weeks." The marketplace is set to feature goblins, IlluminatiNFTs, The 187 collection, grumps, burgers, and all NFT passes.
"Building out a universe of characters, it makes sense for us to own the marketplace experience," Taub wrote on Twitter. "We believe this is the future for NFT projects with an ecosystem."
The original goblintown.wtf collection took a 7.5 percent creator royalty fee, in addition to the 2.5 percent OpenSea secondary marketplace royalty fee. The new marketplace will cut this fee in half to 5 percent for both the team and the marketplace.
Due to recent controversies over OpenSea's flagging system for stolen NFTs, Truth Labs has decided to make it difficult to flag stolen NFTs.
"To be marked stolen, you will need to file a police report before it will be marked suspicious," Taub explains. "We check back in 14 days from getting that report to see if it is still active or closed. If inactive, we remove the flag. If it is closed and it is a case of theft, then we keep the flag."
Truth Labs is working with Snag Solutions, a white-label NFT marketplace, to build this endeavor.
Goblintown has seen four sales since the announcement and has a floor price of 1.73 ETH.