New Feature — Open Market | Market Maker

News
1

New feature added June 19, 2023

The GoVenture World Market Maker is an automated system that may offer to buy and sell products on the Open Market. Players no longer have to always depend on other players to buy and sell products.

Here’s how it works:

  • Players who post products on the Open Market may have the option to sell those products to the GoVenture Market Maker.

  • The Market Maker is an automated system that buys and sells products on the Open Market so that players do not have to wait for or depend on other human players.

  • The Market Maker enables players to quickly sell products that might otherwise remain unsold for an extended period of time. The Market Maker should be considered a secondary option as it is always better to buy and sell with human players.

  • To sell your products to the Market Maker, you must first list the products on the Open Market. Once your listing is on the Open Market, view the listing details to see if an offer is being made by the Market Maker.

  • The Market Maker sets the offer price based on the value of the products. Value is determined by the type of product and its features and quality. The price offered by the Market Maker is usually lower than what a human player might pay, so it is usually more profitable to sell to human players.

  • When the Market Maker purchases products, the Market Maker will immediately relist the products on the Open Market at a higher price than originally purchased. The selling price set by the Market Maker may often be higher than listings posted by human players — this is intended to encourage human players to buy and sell from each other.

  • Human players can purchase listings posted by the Market Maker just like any other listing.

  • Products relisted by the Market Maker continue to carry the brand, features, and quality of the original manufacturer. The location of the products for shipping remains the same as where they were originally manufactured.

  • The Market Maker also manufactures products and posts them on the Open Market. The product features and quality are in the range of 0 0, 30 30, or 60 60 and have 0% Brand, 0% Rating, and are high priced. This assures that human players will always have access to new products, while providing less value than products produced by human players. The manufacturing location of these products matches the country of the human player viewing or buying the products — this assures consistent shipping time and costs.

  • Buying or selling from the Market Maker has no effect on bXP earned.

2

Will there ever be an open market pre-order/open contract feature where retailers can create a request for a minimum or maximum amount of quality and features of product they want to buy? These requests could be fulfilled by multiple manufactures Ex: Request of 10,000 phones that equal or are above 12% quality and features for $300 each. 2,000 is shipped from manufacture A, they receive $600,000. Manufacture B sends 6,500, they receive $1,950,000, etc. This would enable manufactures to fulfill orders without the need of relying on direct purchases, going to market maker, or waiting for a sale on the open market.

3

That’s an interesting idea to consider.

We have some automation features in mind where a retailer can have their business automatically buy products on the Open Market once their inventory drops below a certain amount. We are not yet sure if we will implement this or not but it’s in our specs.