Introduction

Redefining and challenging the primitive way of conducting business is what Web3 stands for. Recently, this has paved the way for several innovations, and Eesee has taken a special approach to auctioning digital assets on Web3. The platform has given an equal chance to prospective buyers to own high-valued digital assets and access to a robust social community for all NFT enthusiasts. Sellers of digital assets also have access to many buyers within the ecosystem and creators of digital assets have the opportunity to earn royalties on their creation.

This article explores Eesee’s unique offerings for users in the NFT ecosystem, its use cases, unique attributes, the project’s tokenomics, and how it positions to redefine the confluence of social interactions and trade of digital assets.

What is Eesee?

Source: Eesee

Eesee is a digital asset marketplace that oversees the randomized sales of digital assets as well as streamlining its purchases. It is also a one-stop platform that allows users to monetize their digital assets at their desired value and also allows collectors to have access to buying high-value digital assets at affordable prices. The pioneering ticketed sales system is designed to support seller returns and fast-track transactions whilst granting buyers the opportunity to own digital assets at cheap rates.

Unique Attributes

Some of the unique features of Eesee are as follows:

a) Royalty: There is full support for royalties on the Eesee platform. This is not common in many digital assets marketplaces.

b) Token and RWA Auction: Using Eesee’s unique ticketed sales system, users can create and participate in auctions for digital assets, tokens, and real-world assets (RWAs). Since Eesee supports the trading of tokenized RWAs, physical assets represented as NFTs can be exchanged on the platform in a decentralized manner.

c) Digital Asset Aggregation: Eesee’s Digital Asset Aggregation brings together listings from multiple marketplaces. This gives users a single platform to seamlessly explore, compare, and purchase various digital assets.

d) Eesee wallet: The platform has an in-built ERC-4337 powered wallet that facilitates all transactions made within the platform. This makes it cheaper and easier to conduct business on the platform while ensuring smart contract functionality within the wallet.

e) Initial Raffle Offering (IRO) Launchpad: This is Eesee’s unique gamified way to launch a token. On the Launchpad, every participant has a chance to make up to 1000% of their investment.

f) Community: The Eesee platform has a robust meeting point for all users in the ecosystem. This allows every user to communicate with others within the ecosystem.

g) Quests and Challenges: An integral part of the platform is that users engage with Eesee on a different level. They complete tasks and interact with the platform to earn their share of our reward pool. This feature boosts project growth and engagement within the Eesee community, positioning Eesee as the growth facilitator for the fellow web3 community and ecosystems.

h) Gelato VRF: Winners for each auction are randomly selected by the use of the Gelato VRF (Verified Random Function). This ensures transparency as every party to an auction has an equal chance of winning the lot.

The Team

Eesee is a United Arab Emirates-based company that was founded by Vova Sadkov who is currently the Chief Executive Officer. Other members of the team include Alex Stephan (Chief Technology Officer), Aiden Chen (Blockchain Quality Assurance Engineer), Mark X (Chief Business Development Officer), Alex Drobankov (Head of Design), Ivan Menschikov (Lead Blockchain Developer), Oscar Flari (Chief Design Officer), and Alex Grigorev (Chief Marketing Officer).

Advantages

The advantages of Eesee lie in the uniqueness of the project as well as the ingenuity that underlines the Web3 innovation. Key advantages of Eesee are as follows:

a) Low Gas Fees: The peculiarity lies in the fact that Eesee charges a small percentage of each transaction as the gas fee. This is unlike every other NFT marketplace that charges high fees for processing digital asset trade.

b) Social Networking: Eesee integrates NFT with social networking, as users of the platform can chat with other users on the ecosystem. This makes it easy for collectors and traders across the globe to connect.

c) All Parties to an Auction Wins: Though the lot goes to a randomly selected winner, every other party to the auction (including everyone who enters the auction) is rewarded from the reward pool.

d) Easy Entry: There is little to no barrier to starting trading on the Eesee’s platform.

Disadvantages

Despite its remarkable features, ESE faces typical issues in blockchain systems:

1) Network Congestion: Owing to the large number of users, the system may be overwhelmed by transaction volumes that exceed the network capacity.

2) Scalability: Since ESE was built on a specialized blockchain, there are potential scalability concerns, questioning the network’s ability to handle a growing number of users and transactions.

How Does Eesee Work?

Eesee is a premier marketplace for the trade of digital assets, hence, simplifying digital asset acquisition and streamlining transactions allied to it. Any person can create digital assets on the Eesee marketplace as well as sell digital assets on their account. Also, potential buyers of digital assets can bid for an auction on the marketplace. The procedure for the sale of digital assets on the Eesee marketplace can be simplified into 4 steps:

Ticket Sales

Sellers of digital assets have the opportunity to opt for ticket-based digital asset sales. They decide the number of potential buyers and evenly distribute the participation cost. Sellers set ticket prices of their choice to maximize sales and total revenue.

Ticket Purchase

Potential buyers purchase tickets for an equal chance to win the digital asset. A ticket is selected at random, unlike the conventional auction system where the highest bid goes with the lot.

Selection of Winner

After ticket sales, a Gelato VRF performs random ticket selection. Gelato VRF offers a tamper-proof, fair, and verifiable random selection procedure.

Reward Collection

After a random ticket is selected, winners and sellers can collect their tokens from the Eesee contracts. The winning ticket holder becomes the owner of the digital asset, and the seller becomes the owner of ESE. All these are conducted within the purview of smart contracts to ensure transparency.

Eesee Ecosystem

Eesee’s ecosystem is being sustained and governed by the following:

Digital Asset Ticketing

Sellers of digital assets can sell digital assets on a ticket basis. The sellers decide the number of potential buyers and evenly distribute the participation cost to them. Also, sellers set ticket prices on the digital assets for sale to maximize sales and total revenue.

Winner Selection Model

A transparent and randomized system, Gelato VRF, randomly selects the winning ticket holder who receives the digital asset lot. If all tickets are sold by the end of the auction date, the winner is chosen within 24 hours. In contrast, if all the tickets are not sold, all collected amounts from the sold tickets would be raffled off amongst all the participants of the auction and only one winner emerges.

Digital Asset Aggregation

Eesee’s Digital Asset Aggregation offers a unitary gateway for collecting listings of digital assets from multiple marketplaces using real-time insight from the blockchain. Eesee ensures that platform users discover, compare, and effortlessly connect to their digital asset sources of choice.

Partnership

Source: Animoca Brands

Eesee completed a strategic partnership deal with Animoca Brands, one of the leading Web3 leaders. Animoca Brands leverages blockchain to deliver digital property rights to consumers of blockchain products around the world, helping establish an open metaverse.

The partnership deal with Animoca Brands is expected to advance Eesee’s mission to become a choice liquidity solution for buyers and sellers of digital assets. On the partnership, the founder and CEO of Eesee, Vova Sadkov remarked: “If it wasn’t amazing enough to see the Eesee journey so far, having Animoca Brands – one of the most important companies in the industry – not only as an investor but also a partner is the cherry on top. We’re thrilled to work closely with the team at Animoca Brands. It will bring tremendous value to our ecosystem.”

Eesee has also entered into partnership deals with Blast, Axelar, ApeCoin, OKX Wallet, Rarible, Polygon, Metabros, Hacken, Quantstamp, and REZOLUT to improve its ecosystem and offer the highest-quality services to its users.

What is ESE?

Source: Eesee

ESE, the native token of Eesee, is at the core of the Eesee ecosystem as it doubles as the governance and utility token of the Eesee ecosystem. As a governance token, Esee’s operations and protocol rules can be voted on by members of Eese’s Decentralized Autonomous Organization (DAO), which consists of Eese users eligible for trading volume distribution from the reward pools. Eesee DAO members must hold at least 10,000 ESE in their on-chain wallet.

As a utility token, all transactions on the platform from item sales to allocation from the reward pools and other allied transactionary activities on Eese’s platform are conducted in ESE.

The native token went live on Eesee on April 11, 2024 (9:30 AM UTC) and it is hosted multi-chain on Ethereum, Blast, and Polygon blockchains.

Tokenomics

Source: CoinCarp

The token has a maximum supply of 1 billion ESE. Of the fixed supply, 10% was allocated for seed, 8% for private, 7% for Key Opinion Leaders (KOLs), 1% for public, 15% for the team and the advisors, 30% for marketplace mining, 4% for marketing and mining, 7% for staking, 13% for liquidity and 5% for airdrops.

Source: CoinCarp

ESE Token Utility

Source: Eesee.io Medium

Being a digital currency and the governing currency on Eesee, ESE can be used for various purposes on the Eesee platform. Some of these are:

On-Chain Digital Transactions

All transactions on the Eesee platform are conducted in ESE. This includes purchase, sale, replenishment, withdrawal, payouts, trading volume rewards, and bonus mechanics, which are all conducted in Eesee’s native token, ESE.

Staking

Staking as a strategic investment is a way of earning passive income. Eesee offers users two types of staking opportunities with different investment goals. These types of staking opportunities are:

a) Fixed Staking: This staking option allows holders of ESE to lock their tokens for a specified period. Investors can earn between 20% to 85% Annual Percentage Rate (APR) depending on the duration.

b) Flexible Staking: This staking option offers a 55% APR. It is flexible because investors can withdraw their tokens at any time they deem fit.

Is ESE a Good Investment?

Although ESE may not be among the top 20 cryptocurrencies, the project leadership looks experienced in the gamified NFT industry, having attracted high-profile crypto players and investors. Additionally, ESE’s adaptability, innovative approach to NFT trade, and growing social following suggest a strong connection with the Web3 NFT community.

Thus, ESE’s future looks promising, with enormous prospects for a good return on investment, particularly during the bull market. However, it is important to understand that cryptocurrencies are incredibly volatile, unregulated, and highly speculative, with no consumer protection. Hence it is advisable to seek financial advice, effectively manage risks, and only invest what you can afford to lose. It is important to note that investing in ESE, or any other cryptocurrency, does not guarantee profit and could result in loss of capital.

How to Own ESE

You can buy ESE from centralized and decentralized cryptocurrency exchanges. For example, Gate.io offers traders the ESE/USDT trading pair. To own the token, create a Gate.io account, and complete the registration process. Also, you need to fund your spot trading account and go through the steps to buy ESE.

Take Actions on ESE

Check out ESE price today and trade your favorite pair:

• ESE/USDT