www.takeitnft.com

A look at Take It NFT

Take It NFT is a different type of NFT marketplace launched by Haste in 2022. For “Take It Drops,” instead of simply buying an NFT and listing for resale, the initial “Drop” lasts for 24-72 hours where the NFTs can be “Taken.” If an NFT is Taken, the next Take price will be 30% higher than the previous. Creators still have the option to run a “Mint It Drop” which operates the typical way, where NFTs are simply listed for sale all at once without an auction period.

To compensate the previous Taker, they earn and receive their money back, plus a 6.6% profit. Once the auction period ends whoever is the last Taker will receive the NFT in their wallet. The system is interesting in that users must evaluate whether they want to earn a profit or truly want the NFT within a limited time frame.

As this platform is developed by the Haste team, the ILP™ Leaderboard is integrated in a unique way. NFT purchases are instantly divided as follows:

  • 82% to seller
  • 10% as royalty to the creator
  • 5% to platform as fee
  • 1.5% to referrer
  • 1.5% to the ILP™ Leaderboard

Just as the leaderboard in the Haste Arcade, the higher the spot on the leaderboard, the higher share of the 1.5% slice they will receive. The top spot earns 30% of the 1.5% distribution.

To earn a spot on the ILP™ Leaderboard, one must participate frequently in the Drops. Scoring is calculated based on Bitcoin SV spent in auctions multiplied by the number of takes performed. Takes in the secondary market (which just launched in September 2022) do not affect scoring.

To curate and schedule drops, a Pre-Market Voting system is implemented where users can vote on the next Drop. Each user gets 1 Free Vote per drop but can then vote as many times as they like for $1. This curation mechanism is a great way to filter collections and prevent scams on the platform, which is an issue that has plagued many NFT marketplaces in the digital currency space.

As such, the platform looks very slick, clean, and high signal to noise ration as only Drops that were voted on by the community or from the Haste team have been released. In September 2022, the latest Take It Drop is BSV Cyborgs.

Take It style drops
Source: Take It NFT

With the launch of the secondary marketplace, this will be the first Take It Drop that smoothly transitions to the traditional market once the auction is over. Given the bear market in digital currencies, it will be interesting to observe if this new model can decouple from the overall negative sentiment in NFTs.

As the Haste team has released their own collections, they also hinted at dropping Haste Arcade Game Collectibles on the platform as well.

Implementing a novel, auction style market with DLC-like NFTs with utility will be a very interesting combination to observe. I look forward more drops and how the arcade is integrated with Take It in the future.

Watch: Haste Arcade’s Joe DePinto and Ian Duckworth on Hashing It Out

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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