The NFTY News tracks the ever-evolving narrative of how the mainstream will enter crypto through user applications. In each edition I explore non-fungible tokens, dApps, and the ecosystem affecting consumer crypto applications.
More music festivals, more ways to gain access to dApps, and interoperability showing the path forward — what else more can you want from a weekly newsletter?
Now you can sell NFTs straight to users with just a credit card, directly embedded into your dApp. This a great step from NIFTYgateway, but still leaves for the unsolved challenge of obtaining Ethereum in order to play and execute transactions using gas. If you’re obtaining non-fungible tokens with USD, you still need to become educated on gas.
CryptoCup is back with their newest feature release — weekly tournaments. Users create an ERC721 token with their predictions for 13 matches with an entry fee of 10 DAI (or ETH equivalent). At the end of the week, the user with the most points wins the pot. You can even create private leagues that last four weeks. I created a NFTY private league if you’re interested in trying it out: https://cryptocup.io/profile/groups(search NFTY)!
The Dapper Labs team released an article about their findings from their interoperability campaign with Gods Unchained. If you’re unfamiliar with the campaign, you can read about it here. Here were the most interesting takeaways:
Gods Unchained made a whopping selling thousands of card packs for a few dollars as opposed to CryptoKitties who was trying to sell digital scarcity at $75. If you think about it, CryptoKitties were essentially “keys” to buy Gods Unchained packs. This campaign goes to show that interoperability of a conical object trumps artwork of a collectible item, in an open ecosystem.
0x allows third-party developers to fill the gaps quickly. The third-party marketplace GUDecks was more popular than OpenSea for buying and selling Tailsman statues.
It’s time to ask the question that nobody seems to have agreement on… where’s the best place to manage and view your NFTs? It mightbe BoxSwap, with their newest Wallet feature to easily manage NFTs and other digital assets. Here are the main features…
Swap NFTs and cryptos with friends. Just send a link with the offer.
View all of your NFTs, and easily copy over the tokenIDs for trading.
Instantly purchase tokens, straight from the 0x liquidity pool.
Wrap and Unwrap ETH.
Marshmello Music Festival in Fortnite
Marshmello conducted a music set in Fortnite yesterday, and Fortnite sold hundreds of thousands of Marshmello skins.
Between the low cost of production that digital music concerts entail, the reach & spread of digitally native concerts with streams & social media, and the success of FireFest in Minecraft earlier this month, it’s abundantly clear that this medium is going to be more popular with music artists.
Just imagine using Unlock Protocol to build digitally native concerts, using a skin as a ticket. Because virtual worlds are global, instead of having DJs tour they can have a few digital concerts a year. Users can re-sell their skins based just like a concert ticket, and the artist can receive secondary revenue on each sale.
Another problem arises… are we getting too sucked in? Here’s an interesting thread about a NHL player having his Fortnite statistics public and fans trying to draw a correlation betweem his hockey stats and Fortnite play time.
When our physical identities become too digitally-native, our personal data spreads even faster, allowing for external manipulation. With blockchain, something similar could occur — our entire digital identity becomes public (but anonymous) showing the world with what we interact with at any single point in time.
If you are working on creative use cases, or working on trying to get more people into crypto and reaching end users using non-fungible tokens, I would love to talk about how I can help. Reach out to me on twitter @flynnjamm, my DMs are always open.