BazAR Launches Atomic Assets Market Powered By UCM And UDL
Editor: Adeola @ Contributor of PermaDAO
Reviewer: Xiaosong HU@ Contributor of PermaDAO
BazAR, a platform to share and trade atomic assets on Arweave which runs on the Universal Content Marketplace protocol was finally launched on Thursday, after an initial delay in its release.
Atomic assets on BazAR are different from non-fungible tokens because all assets are stored in one Arweave ID, guaranteeing users assets that are fully stored on-chain. Atomic assets are fractionalised, making it possible for multiple people to own fragments of the asset. The fractionalisation is programmed in the smart contract itself.
The application said in an announcement that atomic assets and NFTs are traded on BazAR using $U token which can be gotten by swapping $AR here or on Permaswap. Beyond benefiting from a process where intermediaries are removed from NFTs and Atomic asset trading, BazAR said users can earn $PIXL token as reward for using the platform.
“$PIXL tokens are distributed from the UCM contract everyday to anyone who has bought an asset on the marketplace. If you buy assets multiple days in a row, you build a streak, which boosts the share of $PIXL tokens you receive! If you miss a day, the streak resets,” BazAR stated.
The atomic marketplace is the first user interface built to be powered by the universal Content Marketplace (UCM). Created to allow easy and decentralised trading of digital assets on the permaweb. It removes intermediaries and centralised entities from the process of trading or sharing atomic assets.
The launch of BazAR is triggering excitement in the Arweave community. Sam Williams while announcing the platform cautioned that it’s an early release and users should expect some bug adding that it’s “ a huge milestone for the composable web nonetheless”.
Greg Ogun, the creator of Darwin, described BazAR as a huge step towards a true web of value being built on Arweave.