Over the past few months, our friends at NFT Harbor have released a new loyalty token using the Project Token Creation Tool. If you’ve got NFTs on GalaChain and haven’t checked it out yet, why not!?
Below we’ll break down the basics for you so you can start getting rewarded for using NFT Harbor!
Rewarding Loyalty: HRBR
We’re so excited to see NFT Harbor release a reward token. Some of the earliest roots of cryptocurrency can be traced back to loyalty rewards programs from retailers and service providers, so it’s always great to see developers on GalaChain working to reward the community that supports their projects!
HRBR is a token created with the Project Token Creation Tool, and you can view your balance or initiate transfers from your Balance page on GalaSwap. You can exchange HRBR back and forth for $GALA on GalaSwap with other users, or you can buy it directly from NFT Harbor using $GALA.
NFT Harbor rewards users with HRBR based on the transaction fee they pay for each completed p2p exchange on the site (Note that swaps are not included). The seller and buyer will each receive different proportions of the total fee paid back as HRBR.
The Benefits of HRBR
Users of NFT Harbor can use the HRBR they’ve accumulated from transactions to pay discounted fees on the platform in the future. Not only can you pay the fee for a transaction or cancellation with HRBR, but you’ll receive a 50% discount on the total cost of the fee.
Hodl Power is a system offered by NFT Harbor to reward those who hold more HRBR and are more active in the ecosystem.
Anyone can receive increasing tiers of benefits based on the amount of HRBR in their account, with 20,000 HRBR maxing out your benefits at 100%.
Calculations for HRBR are based on the total at the end of the previous week. Only users who have logged in at least once during the week will be counted!
Bigger and Better
With the recent launch of NFT Harbor’s new and improved site and HRBR it’s never been easier or more rewarding to use GalaChain’s first marketplace.
It’s always exciting to see GalaChain developers building better and always improving. Congratulations to NFT Harbor on this major step and extra reward for the GalaChain community!
Founder’s Nodes are now able to be fully tokenized and transferred! Tons of listings are popping up all over NFT Harbor, which was ready to facilitate secure transfers right away!
You can easily purchase or sell Founder’s Node NFTs on NFT Harbor and today we’d like to walk you through exactly how to navigate that process!
Buying a Founder’s Node NFT
Buying NFTs on NFT Harbor is easy! Simply go to the listings on the front page of https://marketplace.nftharbor.io/ and select “Node” from the collection drop down on the left side.
Once you select this, it will display all available Nodes across the site.
You’ll only see one listing for Founder’s Nodes… if you click on it, however, it’ll take you to all the individual listings of Founder’s Nodes.
From here you can select one that you’d like to buy or bid on.
Note: NFT Harbor is an escrow site, so once you select a Node to buy, it’ll ask you to send the cost of the Node to an escrow wallet. The seller will simultaneously send the NFT to the escrow wallet. Once the escrow has both items in it, it will facilitate the exchange and send NFT and proceeds to each person!
Note that some listings request a deposit. These are fees the buyer must immediately pay to the escrow to lock in a deal. After this, the deal proceeds as normal with the deposit being applied to the cost of the Node. This measure was put in place to avoid fake bids and purchases that then never sent the cost to the escrow account.
Selling a Founder’s Node on NFT Harbor
To sell your Founder’s Node, first click “Create” in the top menu. This will take you to a screen that allows you to choose your NFT to sell. Note that your Node must be tokenized properly before it will show up on this screen.
Set the expiration date and the allowed time for a deal to be finalized, then find “Node” in the collection drop down list. Once you’ve selected “Node”, you’ll see your Founder’s Node pop up as an available NFT from that collection. Select it.
Once you’ve selected your Node, you can set your pricing. You can choose any supported currency and whether or not you accept bids. If you are accepting bids, choose the floor price of any bids made.
Remember to set a deposit amount if you want to ensure that any bids or offers you have coming in are legitimate! While NFT Harbor operates using an escrow to limit the chance of scams, buyers or sellers can simply not send their payment to the escrow if there isn’t a deposit amount. This will result in their account’s star rating being reduced and any submitted payment or NFTs returned to the rightful owner, but it can also be incredibly inconvenient and temporarily remove their listing from the site.
Double check your pricing, but then click the “Create Trade” button below and you are done! Your Founder’s Node is now listed for sale!
This week we’re proud to share some monumental progress coming from a true trailblazer on GalaChain. Swaps and trades for Gala Music NFTs at NFTHarbor.io!
Trading on Chain
Up to this point, only games NFTs have been available on the site, but soon anyone can list Music NFTs for swaps and trades without ever leaving GalaChain!
We hope that this addition to NFT Harbor allows people to curate their perfect collection on GalaChain, all without the inconvenience of bridging to Ethereum. With fees on NFT Harbor set at only 1% currently on GalaChain, giving the Gala community a way to swap tracks on-chain is an amazing development for our entire ecosystem!
Bigger Discounts on Fees
You can save even more on transaction fees through NFT Harbor right now with several promotions. With the recently added ‘HODL Promotions’ on the site, users can save 40% on GalaChain fees and 20% on Ethereum fees by meeting certain criteria.
Get this sweet deal by holding above a certain threshold of $SILK, $GALA or $ETIME in your wallet, or by holding a Cruel Fate card from Mirandus! These promotions are automatically applied to your trades when you qualify.
These discounts only apply to 3 star or higher users though, which means you’ll have to make a few trades before they open up to you. Think of this as your reputation on the site. A successful trade raises your star count, but only if you respond within a reasonable time to any bids or deals. Take too long and make the user across from the negotiating table wait around and you could wind up losing a star!
GalaChain Growth
NFT Harbor was the first external project to ever dig into GalaChain, and we are overjoyed to see their progress and the growth their project brings to GalaChain. For a long time our community dreamed of a site like this to trade items with each other within the Gala Ecosystem. In the end, a long-term community member delivered by making this amazing tool!
We can’t wait to see what comes next for NFT Harbor!