Skeptical of NFT Showroom

in GEMS3 years ago

Today I was looking at a few NFTs at @nftshowroom and some were so good that I really considered buying some hive to deposit into the showroom to purchase the NFTs.

But in the current scenario, with cryptos going down everywhere, I am trying to be cautious. I really like some arts, to the point I was willing to buy some Hive and buy those arts, but the NFT Showroom does not put trust on the table, at least not for me...

DISCLAIMER: I do not know much about hive-engine, but the little I have read about it I know:

  • The smart contracts that can be made there are VERY limited, and some have inherent flaws
  • Contract are probably not even turing complete (can't do computation), they work with pre-defined functions and devs don't have as much freedom as Ethereum, for example
  • Is the hive-engine market decentralised, like Uniswap, for example?

On regards of descentralization, I saw that NFT Showroom requires "SWAP.HIVE" to purchase art, but the token is not listed on hive-engine, nor can I find it anywhere else:
_2021_06_21_at_10.48.04.jpg

So, apparently the only way to get those "Hive backed Hives" is by using NFT Showroom, and pay a very high fee for it (1%, no exchange charges 1%), which makes me suspicious, why can't I buy or sell those Hive backed Hive somewhere else?

Another thing that bothers me a lot, is their high fees in general, I was reading the FAQs and there are fees everywhere!

Hive is a feeless blockchain? Hold on
_2021_06_21_at_10.50.05.jpg

Fees to swap "Hive backed Hive" (apparently only possible at NFT Showroom):
_2021_06_21_at_10.49.25.jpg

Fees for using the platform:
_2021_06_21_at_10.51.12.jpg

  • NFT creation: 5 SWAP.HIVE fee (plus 1% to convert the Hive backed Hive)
  • Each edition: 1 SWAP.HIVE fee (again, don't forget the 1% to convert)
  • First sale: 10% commission (in pure Hive or 1% Hive backed Hive? Can I sell/transfer outside NFT showroom? If so, would that also incur a fee?)
  • Secondary market: 10% commission (half goes to the artist, half fair, but again, can it be done outside NFT Showroom? Will the fee be paid if done outside?)

So....
What is that secondary market?
Is there a way to trade those NFTs outside the NFT Showroom? If I trade outside am I still gonna have to pay those fees? If so, how?

How do I use those NFTs in a descentralized manner?

Specially

What happens if NFT showroom gets taken down?

I mean, I could not easily find the source code, is there a Github repo somewhere?
_2021_06_21_at_11.00.13.jpg

I can see links to many social networks, but nothing about Github.

Descentralization is a must, and a work that requires transparency. It is not uncommon for projects to, sadly, eventually die, what would happen if that happens to NFT Showroom?

How does the contract work? How can I get SWAP.HIVE? What is the source code? Who hosts? Where else can I store or trade my arts? So far it looks too centralized for my liking.

There are a few NFTs on Hive that I really really like, but the platform does not inspire trust... At lest for me, I am a helpless skeptic...

I need more information and transparency

To pay my respect to the symbolical 1% fee, I am adding @nftshowroom as a beneficiary for this post hahaha

Hope this gets attention and answers. I really really like some arts, and really really hope to get clear answers, so that I can trust the platform and collect things that I find valuable to me.

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Hey dude! So when you deposit Hive into Hive-Engine it automatically becomes SWAP-HIVE.

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Good to know! It was not clear from the NFT showroom interface, so thank you!

You're very welcome. I only know because I've been confused by this myself.