FAQ

Frequently asked questions about SpacePath

Questions

What is SpacePath?

SpacePath is a decentralized NFT Marketplace Platform governed by the SpacePath DAO. All aspects of the SpacePath Marketplace are governed by the community, including art curation. Built on the Polygon Network, a Layer 2 Ethereum solution, the SpacePath Marketplace is much more environmentally efficient than traditional marketplaces. The SpacePath Marketplace rewards users for their participation in voting, owning, buying, and selling NFTs through weekly releases of SpacePath Token. Half of each week is dedicated to the NFT voting and auction process, while the other half is dedicated to the resale market and featured drops.

How do I use the SpacePath NFT Marketplace?

To use the SpacePath Marketplace, you’ll need to sign up with an Ethereum wallet. SpacePath integrates with many different wallet providers, including MetaMask, Trust Wallet, and others available through WalletConnect. After signing up as a collector, you’ll instantly be able to participate on the platform. If you sign up as a creator, you’ll need to wait to be approved prior to posting. We review creator applications to prevent spam content on the platform, but all artists will be accepted. As both a collector and a creator, you can vote on NFTs to be minted with the equivalent amount of SpacePath Token that you own.

How do I create and connect my wallet?

To create a wallet, you can use a multitude of wallet providers. Two widely used providers are MetaMask and Trust Wallet. You can download mobile applications for these wallet providers or use a browser extension through Google Chrome or Mozilla Firefox.

After creating a wallet, you can connect to the SpacePath Marketplace by going to www.SpacePath.net and clicking the “Connect Wallet” button in the top right corner of the page.

How do I become eligible for weekly rewards?

To be eligible for weekly marketplace mining rewards, including rewards for voting, owning, buying, and selling NFTs, you must be a part of our SpacePath Select Community. To join the community, you must own at least the equivalent of 20 USD worth of SpacePath Token at the time of claiming rewards.

How do I collect weekly rewards?

To collect weekly rewards, click the “Claim” button in the profile dropdown. You will be redirected to a new page to collect rewards.

How do I vote on my favorite art to be minted?

Each week, the community will have 48 hours, from Wednesday at 12:00pm EST to Friday at 12:00pm EST, to browse the new art submissions and vote on their favorite art to be minted at the end of the voting period. After the voting period ends, the top voted pieces will be minted.

Does SpacePath Marketplace have any fees?

Creators on our platform will never be charged any fees. For collectors in the SpacePath Select Community (users who own at least the equivalent of 20 USD of SpacePath Token), there are zero transaction and minting fees. For collectors not in the SpacePath Select Community, there is an industry standard 5% transaction fee but still no minting fee.

Who controls SpacePath Marketplace?

The SpacePath Marketplace is controlled by the SpacePath DAO, the community of SpacePath Token holders. Future goals and changes to the platform are governed on-chain by proposals through the SpacePath DAO, which are then voted on by token holders.

What is SpacePath Token?

SpacePath Token is the governance token that powers the SpacePath Marketplace Platform. The community is rewarded for participation weekly through SpacePath Token. The more token a user owns, the more influence they will have on the platform through voting and content curation.

How do I benefit from owning SpacePath Token?

By owning the equivalent of 20 USD worth of SpacePath Token, collectors will be charged zero fees on the platform, as opposed to the industry-standard 5% transaction fee that users who don’t own SpacePath Token will be charged. In addition to zero transaction fees, users who own sufficient SpacePath Token will be eligible for marketplace mining rewards, which reward users weekly for participating in voting on the platform, voting on content curation, buying NFTs, selling NFTs, and for just owning NFTs on the platform. As a token holder, you’ll have the power to shape the future of the platform.