Unique Network- The Most Important NFT Project In Polkadot
Unique Network- The Most Important NFT Project In Polkadot
After Ethereum the NFT crowd moved to Solana. Lots of Solana NFT Projects have picked upstream. The Cardano CNFTs are doing pretty well too. Recently Fantom launched its new marketplace called Artion. What about Polkadot? What's happening there? It is not that Polkadot is sitting idle and watching competition to go ahead.
They are not, however, Polkadot is slow as it is an extremely complex architecture. Currently, the focus is on onboarding Parachains in Kusama, and then, eventually in Polkadot. Polkadot will only hope that a parachain will come up with advanced NFT capabilities for its ecosystem. Polkadot itself, being a relay chain does not have that capability. So which projects can bring in that capability?
The most hyped one in Efinity. However, Efinity somehow does not have a Polkadot background, They are not participating in Kusama parachain auctions and are also not involved with the earlier community. There is an interesting project called RMRK, which was recently launched. They have created the NFT protocol for Kusama and are actively involved in developing Kusama’s NFT strategy. Their first NFTs, the Kanaria birds have been hugely successful. Each bird has slots that they can be equipped with, making them dynamic NFTs. However, RMRK is in Statemine. They will onboard to a major Polkadot NFT Project soon. This project is called Unique Network.
Unique Network created the first official homage for Cryptopunks. These punks are called Substrapunks. Interestingly, the substrapunks are the first in the substrate, which is the technology behind both Polkadot and Kusama. This means that they are the first NFTs in Polkadot! They are highly underrated. That’s because Unique Network has not yet launched as a parachain in Kusama.
But in the next Parachain Phase they will launch and that's when the craze will kick in.
So what is Unique Network?
Unique Network is a blockchain, a parachain on which you can build NFT dapps, marketplaces, minting solutions, games, launchpads, etc. It can be seen as the foundation for Polkadot NFT Standards. It is also Ethereum Virtual Machine Compatible. In the long run, it will also bridge with other chains.
So what are the advantages that Unique Network brings in?
Freemium Model: In Ethereum each user has to pay gas fees for each transaction in a game. In Unique the developers can bear that cost, give discounts and make their games freemium. Unique reduces the barriers to entry.
Advanced Ownership: Using RMRK Unique NFTs can be empowered by adding functionalities in the NFT Slots. You can rent, delegate your NFTs.
NFT to NFT Interaction: NFTs can interact with other NFTs and that impacts the properties of the linked assets.
I am not sure if there is a single NFT dedicated blockchain which can do all these. Plus Unique has a partnership with the very popular gaming launchpad called Seedify. Any games launching on Seedify will be supported by Unique Network on various launches. That is a wild list of games pipeline!
Do you know that Unique Network has 5 Web 3 grants?
Yes. They are the second in the entire Substrate Ecosystem, only next to Astar. They have been working in the ecosystem for a long time and are extremely well networked. They are Polkadot Ambassador since 2019 and along with RMRK, is also a part of the Kusama NFT Strategy. They won 2 awards in Kusama’s Hackathon in 2020, called the Hackusama.
Investors
The investors are the whos and who of the gaming industry. It is supported by Animoca Brands, Outlier Ventures, DFG, Long Hash, Master Ventures to name a few. This is also proof that the product interests the VCs.
Marketplace:
Unique’s marketplace is currently live.
It has listed only Substrapunks and their Second NFTs, Chelobricks. Do you know that if you hold an unlisted Substrapunk and Chelobrick in a single wallet, you will get 50% of the platform’s revenue quarterly!
UNQ and Quartz
Quartz is Unique’s token in Kusama and UNQ will be the token in Polkadot. Both have a 1Bn supply. You can get Quartz by participating in their upcoming Kusama crowd loan (Phase 3). Also, a Public sale for UNQ will happen soon.
Watch out for this project!
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After the mint problem I had yesterday, the nfts became a little scary.
But if I think about polkadot, it's great.
Now it's time for nft. If you don't want to stay back, you need to adapt to it. Dot doing this. And I trust dot.
Thanks for the article.
Have a nice day.
I haven't seen anyone who doesn't like NFT. Because he delights everywhere he goes. Alan is winning, he's winning. Intermediaries are also winning.
That is why many networks have adapted to this wind. Thus, it has spread to a fairly wide audience.
Thanks for the nice article. 🔥