Cargo.build is a secure marketplace where users create, manage, showcase and sell digital assets. The assets supported by the platform include tradable blockchain gaming items, rare crypto art, secure tickets and access tokens supporting the users’ businesses or projects. Sean Papanikolas founded the platform in 2020 after a series of research and experimentation in the Ethereum ecosystems,
The marketplace is driven by two different fungible ERC-20 tokens, i.e., Cargo Credits and Cargo Gems. Cargo Credits token is used in the creation of collectibles on Cargo. The token is purchased in packs, so users have a range of options, e.g., whether to adopt NFT novices or enterprises. Cargo Gems is the platform’s utility token. It functions as a governance token as well as a payment option on the Cargo platform. The token is staked inside of NFTs for token rewards.
The platform has a staking portal, where users stake Cargo Gems with any compatible NFT that is an ERC-721. For the staking to be Compatible, the NFT contract must be an ERC-165 interface of ERC-721. The staked NFTs earn the user Gem yield and Cargo credits. The staking smart contract enables any user to retain NFTs while still earning rewards from the staking. Users, therefore, transfer their NFTs to a cold wallet while earning rewards. The users are free to transfer NFT to a new owner or wallet, and the receiver of the NFT withdraws the staked and earned Gems through the staking portal.
Cargo Gem is distributed based on blocks which are mined on the Ethereum blockchain. Users claim stake rewards at any time via the staking portal. The rewards are used to increase the stake, or an individual can withdraw them to their wallets.
The platform has a decentralized organization known as the Cargo DAO, which complements the Cargo Gems as a payment option. The Cargo DAO deploys Creator Grants, which are pools of Cargo Credits designed to subsidize the expenses associated with the minting of NFTs on Cargo. Creator Grants are distributed in batches. It enables Cargo Gem holders to vote for their favorite games studios, artists and designers while staking their holdings within NFTs.
Essential highlights on the platform’s website
The marketplace is used and managed by a community, which is available to the public. Though built on an Ethereum blockchain, it has two native tokens.
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