Last updated on: 08/06/2020
The FOOTBID Marketplace composed by two distinct subMarkets built upon proprietary copyrighted algorithms: primary market: issuing and repurchasing of player shares by the platform itself; secondary market: trading of player shares between the platform's users.
When a player is added to the platform, the FOOTBID team will setup a first issue price linked to his real market value according to external sources which will be used for the first share issued only [FAQ 4.1].
Over time, on the '(1) primary market', and up to the communicated maximum number of shares per player, the FOOTBID platform will be willing to issue an additional share at a price premium. On the other hand, it will also repurchase your shares at a price discount if you cannot sell them in the secondary market [FAQ 4.11].
Complementarily, once a user owns a specific share of a player, he will be able to sell it on the '(2) secondary market' to other users who have placed corresponding buy orders. For instance, if the best buy or sell prices do not suit you, there is the option of placing custom orders [FAQ 4.6 / 4.7] which will be matched against those from the other users [FAQ 4.8].
To guarantee a smooth and linear user experience, these two submarkets are not differentiated in terms of navigation and you will always be served with the principle of best price [FAQ 4.13 / 4.14] - this means that the price presented to you on best buy or sell buttons will always be the best, regardless of the submarket considered.
That will not occur as FOOTBID will always be available to repurchase player shares, even if at a discounted price, if there is no demand from other users in the platform.
This means that you will always be able to sell your shares, even if not making a profit, and generate extra liquidity in FOOTBID coins so that you may adjust your strategy, take advantage of unexpected market opportunities or participate in new fantasy leagues.