2. Buyer Purchases the Service (Escrow Initiation)

When a buyer (client) decides to purchase the service:

The buyer clicks “Buy” (or “Purchase Token”) on the listing. If not already connected, they connect their Solana wallet (or use the CRE8 Wallet if they have an account) to initiate the transaction.
The CRE8 smart contracts kick in: the buyer will send the payment amount to the escrow contract. This is an on-chain transaction that transfers (for example) 100 USDC from the buyer’s wallet into the escrow’s custody.
Simultaneously, the service token/NFT is moved into escrow or into the buyer’s possession with a lock. There are a couple of design options:
- Option A: The NFT representing the service is transferred to the buyer’s wallet, but with a programmatic restriction that it cannot be transferred further until completion (e.g., the contract may only allow transfer back to seller upon completion or burn).
- Option B: The NFT is held by the escrow program (so the buyer doesn’t receive it immediately). In this model, the buyer might receive a receipt or the NFT is simply represented in the UI but is technically in escrow.
The result at this stage: Funds are locked in escrow, and the seller is notified that their service token has been bought. The clock may start on the delivery timeline.

Last updated 3 days ago

When a buyer (client) decides to purchase the service:

The buyer clicks “Buy” (or “Purchase Token”) on the listing. If not already connected, they connect their Solana wallet (or use the CRE8 Wallet if they have an account) to initiate the transaction.
The CRE8 smart contracts kick in: the buyer will send the payment amount to the escrow contract. This is an on-chain transaction that transfers (for example) 100 USDC from the buyer’s wallet into the escrow’s custody.
Simultaneously, the service token/NFT is moved into escrow or into the buyer’s possession with a lock. There are a couple of design options:
- Option A: The NFT representing the service is transferred to the buyer’s wallet, but with a programmatic restriction that it cannot be transferred further until completion (e.g., the contract may only allow transfer back to seller upon completion or burn).
- Option B: The NFT is held by the escrow program (so the buyer doesn’t receive it immediately). In this model, the buyer might receive a receipt or the NFT is simply represented in the UI but is technically in escrow.
The result at this stage: Funds are locked in escrow, and the seller is notified that their service token has been bought. The clock may start on the delivery timeline.

Last updated 3 days ago