We are thrilled to announce that Glorious will soon be making a transition to a multi-blockchain economy. Our next release, the Steve Smith Masterpiece Innings Collection, will be launched on the Ethereum blockchain later this month, with planned integration into the Futureverse ecosystem later this year. This strategic move is designed to provide our users with a wider range of opportunities and an enhanced platform.
Embracing the transition to support multiple blockchains, opens up a world of possibilities for our users — with this move, you’ll gain access to marketplaces such as OpenSea and more.
Crucially, it also unlocks a multitude of capabilities for Glorious, resulting in improved experiences and meaningful utility that will enhance your overall journey with us.
Below, we’ve put together a few helpful sections that dive into some of the questions we think you might have; So, sit back, relax, and let’s dive into why we’re making this move, and what this means for you, our community.
Why is Glorious moving to a Multi-Blockchain Model?
We’ve recently completed several community surveys, and an overwhelming 94% of Glorious users have indicated that a move to support multiple blockchains — such as Ethereum or The Root Network — is important to them, so we’ve taken that feedback on board and here we are.
This move will allow us to leverage the benefits and extensive capabilities of different blockchain’s for the Glorious platform. By moving towards a multi-blockchain model, we aim to provide you with enhanced features, wider accessibility, and greater opportunities.
We’re excited about this transition and the possibilities it brings for our users and the future of our platform.
When will this happen?
Our release with cricketer, Steve Smith, will take place from Wednesday 16 August 2023 on Ethereum.
What does this mean for me as a Glorious User?
We’re pretty proud to say we’ve come up with a way to migrate all of our users and their existing assets to different blockchains without our users having to export and reimport wallets or exchange tokens.
What do I need to do?
Once this update is implemented, you can log in to your Glorious account just like you always have, using the same email address. However, there will be an additional step where you’ll be prompted to optionally connect your Metamask wallet. Metamask is the major Ethereum-based wallet, with around 90% of all Web3 users using it. In the future, we also plan to integrate the Futurepass Wallet.
This is optional — you don’t have to connect your Metamask wallet — we’ll hold any NFTs you’ve purchased from us in a secure wallet for you until you do, and you’ll still be able to view, download and enjoy any artworks you have purchased from us.
Don’t worry, the process will guide you through the necessary steps, making it easy to establish the connection between your account and your Metamask wallet. This way, you’ll be ready to enjoy all the benefits of the new blockchain seamlessly.
If you don’t have a Metamask wallet, you can download Metamask here and set one up.
Will I still be able to access my purchased artworks?
Yes! Going forward, Glorious will adopt a semi-custodial model, providing a seamless experience for our users. If you have a wallet connected to your account, we’ll transfer your artworks directly to your wallet as soon as they’re created.
Don’t worry if you don’t have a wallet connected yet. You can still buy NFTs from us, and we’ll hold them in a secure wallet until you connect one. Even without a connected wallet, you’ll still be able to view and download all your purchased artworks.
With this approach, we offer the best of both worlds, catering to users who prioritise convenience while also delivering a fully decentralised experience for crypto enthusiasts.
What about artworks I’ve already purchased?
Previously, our NFTs were stored on the CENNZNet blockchain exclusively, but now we’re starting the process of migrating to multi-blockchain support, which will enable additional functionality and experiences and enable access to more marketplaces and communities. This means we’ll be re-minting all of our past NFTs over the next few months, with all assets targeted to be complete by the end of October.
Any utility from historic collections will now only be honoured on via the re-issued token as of October 2023, but you are free to keep the original tokens you have — no need to send these back to us or deal with a complex exchange or bridge.
If you’re a Glorious user who has used our Browser Extension or Glorious Wallet, and you still have NFTs in your old wallet, don’t worry! We’ll mint new NFTs straight to your new connected wallet by the end of October 2023.
During this transition period, you can have peace of mind knowing that you’ll still have complete access to your artworks through your Glorious Account. You can continue to view and download your collections without any interruption, ensuring a seamless experience as we migrate to the new blockchain.
Are there any tax implications when receiving my new NFTs?
No, this transaction will not trigger any personal income tax implications. Glorious will cover the gas fees for this mint, and the cost basis for your new NFTs will be $0. If you have any questions, please don’t hesitate to contact our team.
Will I be able to Purchase NFTs using my Metamask wallet?
Currently, we don’t support purchases using Metamask wallets. However, we want to assure you that it’s on our radar and something we plan to address in the near future.
We understand that most of our users prefer purchasing NFTs with fiat currency (i.e. using a credit card), and we’re committed to optimising and simplifying that experience for you.
By narrowing our focus, we’ve been able to efficiently plan, design, and execute this migration within a relatively short timeframe. Our product philosophy is to excel at each step of the journey, with a laser focus on one thing at a time. Rest assured, we’re continuously working to enhance your buying experience, and integrating purchases with Metamask wallets is part of our roadmap ahead.
I’ve heard gas fees can get pretty high on other blockchains. Will this cost me extra?
No need to worry! At Glorious, we’ve got your back. For the time being, we are dedicated to covering the gas fees on your behalf. This means that when you check out, you’ll know exactly what you’re paying without any surprises or additional charges.
We want to ensure a transparent and hassle-free experience for our users, so you can enjoy the benefits of Ethereum without the burden of gas fees.
What will Glorious’ NFT contracts look like?
Ethereum based Glorious collections will mint using the ERC-721 and ERC-1155 standards, with royalties supported by the ERC-2981 standard and the CORI operator filter.
How will minting work?
In the beginning, we will mint NFTs in bulk prior to their release, ensuring a seamless experience similar to what you are already accustomed to. When you make a purchase, we will promptly transfer the NFT to you, typically within 24 hours. This approach enables us to cover the gas fees on your behalf and enables you to conveniently check out using traditional fiat currency.
As we move forward, Glorious has plans to potentially introduce the option for users to mint collections directly to their wallets. To stay informed about any updates regarding this exciting feature, we encourage you to sign up for our mailing list here. We’ll keep you in the loop and ensure you don’t miss any important announcements.
What will happen to Glorious Secondary Marketplace?
Starting in mid-August, the Glorious Secondary Marketplace will be shut down. If you currently have items listed on the Glorious Secondary marketplace, we will reach out to you directly to discuss the next steps.
However, we have some exciting news to share as well! After we complete the process of re-minting our entire catalogue, you will have the opportunity to list your collections on popular and compatible marketplaces. These platforms provide a vibrant and diverse ecosystem for buying, selling, and trading NFTs, opening up new possibilities for our users.
We are committed to ensuring a smooth transition for our users, and we will provide you with all the necessary information and support to utilise these marketplaces moving forward.
Will I be able to sell my NFTs on secondary marketplaces?
Absolutely! You will have the freedom to sell your collections on any supported marketplace that respects creator royalties and follows the ERC-2981 standard. This standard ensures that creators receive a fair percentage of the proceeds from future sales or transfers of their NFTs, empowering them to benefit from their creations.
To further safeguard creator earnings, our contracts incorporate the innovative CORI Operator Filter. This filter acts as a protective mechanism, preventing NFTs from being traded on marketplaces that don’t honour and uphold the rights of creators.
This is great news for users and Glorious artists alike. When you purchase a digital artwork on our platform, you can buy with confidence, knowing that the artists will receive their well-deserved royalties.
You’ll have the freedom to trade collections on any supported marketplace while ensuring that artists are respected and rewarded for their creations. It’s a win-win situation that benefits both collectors and creators, fostering a fair and sustainable ecosystem.
I have more questions — How do I get in touch with Glorious?
We have updated our FAQ’s to include more questions around this migration, which you can access here. If you have any other concerns or questions, you can reach out to us at support@glorious.digital.
A thank you from the Glorious team
We’d like to close off by saying thank you to you, our users, for supporting us for the past few years and for being patient and understanding with us during this transition.
Together we’ve created something that is greater than the sum of its parts — a community where artists, fans, collectors and brands can come together and bond over the things we love. This is just the beginning of something truly Glorious — and we’ couldn’t have done it without you.
