The Holaplex Marketplace Standard
Holaplex has developed the Holaplex NFT Marketplace Standard, which allows NFT artists and projects to create their own marketplace without having to hire anyone or do any programming themselves. The platform uses the Metaplex Auction House Contract, a listing system that does not require an escrow account. This means that NFTs remain in the owner's wallet until they are sold, without the need for a middleman or smart contract vault.The model not only gives owners control over the NFTs that are sold, but also allows creators to own the platform on which their NFTs and collectors operate. Rather than using a centralized, closed-source marketplace, control of the marketplace is back in the hands of the artists, who can determine the transaction fees and design of their marketplace.
"The Holaplex NFT Marketplace Standard was created in response to community demand to put an end to extractive secondary market practices and give creators open-source tools to control their destiny. Community members have full control over their collections; this includes setting transaction fees." - Alex Kehaya, co-founder of Holaplex Community.
What is Holaplex?
Founded in 2021, Holaplex provides independent artists, musicians and creators with simple, free tools to create and sell NFTs. Not only does the company allow creators to quickly create their own NFT stores and marketplaces without code, but it also leverages the Metaplex NFT protocol, which enables fast low-effective creation of NFTs on the Solana blockchain.In December 2021, the NFT platform raised $6 million in a seed round led by blockchain-focused investment firm CoinFund. Other investors in the round included Social Capital, Valor, Collab+Currency, Blockchain Coinvestors, and Solana Capital.
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