Redefining Art with the Capsule Protocol
By utilizing the Capsule Protocol, artists and musicians have the opportunity to take ownership over their work: create a designed floor price, distribute albums with ease, or program their own unique use case.
Artists and musicians can use Capsule as a new medium — wrapping their work in special token-storing NFTs and distributing them across the cryptospace. Then, the owner can burn, or permanently destroy, the Capsule to access the work. By choosing what assets are stored within a Capsule NFT, artists and musicians can interact with composability in a novel way.
As demonstrated by Dollar Store Kids, artwork can be given an underlying value through the utilization of the Capsule Protocol. Dollar Store Kids, created by the Capsule team as a proof of concept, was the first dollar-backed composable NFT collection — where each Dollar Store Kid was backed by 1 USDC. By ‘burning’ their Dollar Store Kid, the holder would receive 1 USDC in return. Subsequently, the total supply of the collection would drop by one, and therefore, the rarity of the remaining NFTs would increase. To learn more about Dollar Store Kids, read our documentation or view our GitHub.
With the integration of ERC-1155 tokens, the Capsule Protocol can be a means of album distribution for musicians. Music can be stored in Capsule NFTs as ERC-1155 tokens and then sold on any marketplace. The musician has the choice to store exclusive content, set a floor price with other tokens, or distribute unique signed albums.
Capsule provides endless artistic use cases for both creators and holders. We encourage creators and users to get creative in their approach and utilize the Capsule Protocol to their advantage. To learn more about the protocol, read our documentation or reach out to the Capsule team on Discord.
