Maybe a bit late writing this article. (Promo for the EOS Nation piece.)
CALL TO ACTION
Let’s get going EOS community. NFTs are mainstream. Blockchain developers and investors realized NFTs were the real thing in a sort of unison. The mass awakening occured sometime following the ICO crash.
Recall the way ICOs spread through mainstream news. Now consider organizations like MLB, NBA, and IBM, all with their own, very public, NFT projects. As you read through this article, you’ll find that NFT technology actually preceded ICOs. Maybe a certain level of interest and development needed to transpire before the global economy could integrate NFTs.
Spread the word to art enthusiasts and funnel them over to the most practical blockchain solution- the EOS mainnet. Sure, the community is still getting acclimated to the PowerUp (not yet a month old). Yes, ClarionOS and EdenOS could transform all digital environments. The PowerUp was designed to handle the stampede. Let it fly free.
THE NFT EXPLOSION
Wikipedia attributes the first on-chain NFT to Anil Dash’s and Kevin McCoy’s Quantum (2014). Here’s a comparative source, along with the investment team's video presentation at the Rhizome Seven on Seven Conference 7 years ago.
As one listens to the presentation, tangible solutions seemed to be a major sticking point for early blockchain developers. Not that blockchain technology was in question, merely moving past abstract function.
Images provide a verifiable target. As NFTs, they are an object of programming and not just an aspect of blockchain. Thus, cryptocurrencies could be expanded beyond the ruts of virtually-focused concepts. The team of McCoy and Dash actually wondered why their method of employing a unique digital signature for art had not already been done.
History being made people.
- Rhizome announcer
Colored Coins: An Idea that Quietly Rocked Blockchain
Some argue that the origin of NFTs begin at Colored Coins. The Bitcoin wiki describes them as:
The term "Colored Coins" loosely describes a class of methods for representing and managing real world assets on top of the Bitcoin Blockchain.
NFTs certainly cater to blockchain management.
* Note that Wikipedia reference does mention:
In 2014, Counterparty, a peer-to-peer financial platform, was founded and built on top of the Bitcoin blockchain and attracted various projects including trading card games and meme trading in the following years...
* Also note that:
exploring blockchain history leads one to conclude that NFTs are directly responsible for the term ICO (see the [Colored Coins reference] for the entry on April 2015 — Spells of Genesis on Counterparty section of the The History of Non-Fungible Tokens (NFTs) [2019] by Andrew Steinwold .
From the beginning, NFTs appeared destined for success. Three years later, WAX_io joined twitter. Riding the slogan, The King of NFTs, the WAX blockchain has attracted mainstream projects like Atari, William Shatner, and most recently Major League Baseball. WAX does so coming out of the EOSIO ecosystem with a modest market cap ranking (approx.180 by CoinGecko) at the time of this writing.
THE IMPACT OF VOICE 2.0
How quickly might Voice jettison EOS into the NFT arms race. Launching in mid May, Voice 2.0 was announced by CEO Salah Michael Zalatimo a little over a week ago. The platform has a respectable audience for such a short time. Still, banking on long-form content for a revolutionary social media platform has obvious limitations. Voice is not just about blockchain. It’s about taking the online social dynamic to the next level. Streamlining the minting process for creator content does this.
ACTIVE (EOS) NFT PROJECTS
Here's a list of current whitelisted projects within the EOS marketplace of Atomic Hub.
writer
gbk.gems
chllnge.gems
equalanimals
llovedoodles
thezombieart
.gems
clarionosllc
upliftart
eosenvelopes
dot.gems
tjttgbstudios
anyocash
shufan.free
eos.cards
sunriseoneos
nfthypealbum
shufanflower
eclipsephoto
eoinphoto123
boid4science
kevdamguer55
eosdetcomics
eyefoodartsy
byronsartset
cryohumanoids
christxsaint
contracieos
cc32dninenft
myphantomcat
ejthekartnft
This list was much shorter last week.
Are NFTs that moment that a rocket scientist accurately performed the final calculation required to get to the Moon?
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While the NFT revolution is certainly here, and EOS is well positioned to take advantage (as you noted, just look at Wax), I’m disappointed to report that there are several matters holding EOS back from being a leading player when it comes to NFTs.
First is signing up to get an EOS wallet. The process is not free or straight forward. To register an address a small amount of EOS is required to fund the transaction. As such, if a new user wants to create a wallet, they must have a friend send EOS to a what feels like a random account, deposit EOS from an exchange, or pay a fee to a third party such as Wombat. This is a colossal barrier to entry that I have no doubt turns thousands away from the platform every year.
Second, many transactions require the user to pay a fee. This, while not ideal, is an accepted part of many blockchain ecosystems and not offensive in and of itself. What is a significant hindrance however, is the non-user-friendly system of needing CPU, RAM and/or REX, depending on what function you are performing. To the uninitiated, these processes are a complete mystery and without guidance can be very costly, time consuming and frustrating. For an NFT market like Atomic Hub to flourish, transaction errors and complex transaction mechanisms should not be commonplace.
Finally, the world’s most widely used operating system, Android, does not have an EOS wallet fit for the NFT space. Unlike Apple users who can access Greymass’ Anchor, the best wallet for the NFT-loving Android user is Wombat which is designed more for gaming and does not feature anything even approaching the functionality of advanced browsers such as Chrome or Brave. While Greymass are on their way to releasing an Android version of Anchor, and Wombat can do the most of the basics, the growth of NFTs on EOS will continue to be limited until a better solution becomes widely available.
To contrast my friendly feedback and conclude, it must be highlighted that EOS is clearly coming leaps and bounds in the NFT space, with the Atomic Hub and projects such as Writer leading the charge. While growth will likely continue at an ever increasing pace, it will continue to be stymied until the user experience is enhanced.
That final quote LOL, I believe we're very close to liftoff!!!