The My FarmPet Marketplace is an in-app marketplace that serves as the trading hub for app users. You can purchase and sell in-app farming assets on the marketplace with a 5% fee on transactions. All transactions on the farmpet marketplace are processed from the balance on the in-app wallet.
The following items can be purchased on the marketplace.
- Pen
- Chickens
- Pellets
Post Contents
My FarmPet Marketplace
- In-app wallet
- In-app farming process
- Earnings/Inventory System
- Myfarmpet Revenue Model
In-App Wallet (Deposit And Withdrawal)
Myfarmpet in-app wallet is configured using the US dollar. The app allows for deposits into the wallet using your local currency on the paystack or Interswitch or other Deposit media. These funds will be converted to USD with the prevailing dollar rate and added to your in-app wallet.
Also Read: 6 Easy Steps To Stake FarmPet, Earn 84% APY Passive Income
Withdrawals are processed within 0-24hours period due to the time allowed for vetting withdrawals to ensure smooth stability.
In-App Farming Process (Chicken Farm)
The in-app transaction works with your bank debit and credit cards. It has seamless blockchain integration used in the farming game.
- Deposit Fiat into your App account using a debit or credit card.
- Your balance is converted to USD equivalent.
- Chicken Pen Acquisition: the chicken pen can be sold on the marketplace and is designed to house 1 chicken.
- Chicken Acquisition: These chickens lay eggs for the user which can be sold on the in-app marketplace to us or sold on the p2p marketplace to users who desires to buy or order for delivery.
Earnings/Inventory Systems
The hens must be adequately nourished in order to continue laying eggs. Unfed hens will cease producing eggs and eventually be rendered worthless on the farm, hence the need for the feed. The chickens have a life span of 24 months with an average of 4 eggs per week for a chicken (ranging within 70% production weekly rate per chicken).
The App has been designed to fit in real-life poultry framing settings. Hence; all chickens on the farming game app have an insurance cover on them and need to be fed appropriately.
My farmpet Revenue Model
My farm pet generates in-game revenue from the sale of NFTs on the NFT marketplace and the profits from her Live farm.
Generated revenue from the sale of NFTS will be invested back into the project for further development towards the completion of more milestones and the financing of the live farm project.
The live farm generates revenue which enables the team to perform a buyback and reward Farmpet holders in BNB.
In summary, MyFarmPet generates revenue from;
- The sale of in-app farm assets
- Profits from the live farm
- Taxes on the in-app marketplace
- Delivery commission
- Taxes on cash withdrawals from the farm.
