NFTs gaining support

Crypto celebrities jumping on the bandwagon

walkjivefly
Nov 26 · 2 min read

Confirming that Crown platform is on the right track with the anticipated rollout of NFT framework, crypto celebrities the Winklevoss twins have just purchased crypto collectible startup, Nifty Gateway.

While not an actual endorsement of our framework, the fact that people with (lots of) money are investing in the space is validation of our development effort. Delivering the NFT framework will not be the end of the road. The framework is just that; a framework for others to build on.

NFT basic overview

Crown contributor defunctec recently posted an example application suggestion in Discord and Telegram to inspire and encourage others to roll up their sleeves and build applications on the framework.

A sample use case for Crown NFT.

The suggested application is basically a website where streamers can auction their unique in game items such as weapons, vehicles etc.

Example — Streamer is popular and plays “Fortnite”. Streamer has a special weapon skin for the sniper rifle. Streamer can go to the site and create a “token offering” for the weapon. The site will ask for a screenshot of the weapon with the streamers water mark attached. Once the streamer has added a quality screenshot the site now requires auction parameters. Streamer sets the requirements for the auction and the site produces a link to the auction which the streamer can share with their community. Users now have the opportunity to forever own that specific weapon in NFT format. When trading is available users will be able to sell their tokens to other community members creating a new market place.

At first glance this sounds very similar to what Nifty Gateway has built. They obviously made a mistake by not building it on Crown! But actually, this example is more complex because it allows the user to create the token themself in the NFT framework and auction it on livestream. Nifty’s application only allows a user to trade tokens created elsewhere. In the future our NFT framework is expected to include trading, either in a standalone app or directly in the GUI wallet.

Supply chain management, proof of ownership, timestamping, property records, trading/swapping games, proof of authorship and dozens of other areas are ripe for NFT implementation. With its network of over 2000 incentivised nodes and low transaction costs Crown is ideally positioned to seize a good chunk of this emerging market.

Will you be the first to build on Crown, and what will you build?

Crown Platform

Crown is a digital token and blockchain platform enabling independence serving individuals & businesses. We are focused on legal compliance and transparency utilizing our decentralized governance model.

walkjivefly

Written by

Crown Platform

Crown is a digital token and blockchain platform enabling independence serving individuals & businesses. We are focused on legal compliance and transparency utilizing our decentralized governance model.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade