NFTs on Hathor Network: Breaking the Barriers

Andres Sanchez
Nov 18 · 8 min read

Oh the Nostalgia

ake a few seconds for a mental trip back to your childhood. Focus on what your bedroom looked like. I bet you had at least one item that you were absolutely obsessed with collecting and proudly displayed it somewhere in your room. I still have yet to meet someone who didn’t hold some sort of collection.

When speaking of collectors what usually comes to mind is trading cards. There are many examples of trading card games that increased in value over time. The reason why a lot of us hold on to these collectibles is the nostalgia that is attached to them.

In 2020, a man in his 30’s realized while cleaning out his basement, that he had a box full of these cards. It turned out that he had one of the rarest cards ever produced and someone else had just sold one for $350,100 (I guess the extra $100 was for champagne). He immediately sought an expert to determine how much his could be worth. He struck gold! His card had some strange minimal detail in terms of the shadow of the character against the holographic background and would now be worth a total of $369,000. This card has broken the world record for being the most expensive ever sold for this trading game. I don’t think he went back to working in IT.

This story might sound crazy to many of us, but in reality, back in the day, these cards were not easy to come by and so it’s fair to see how it appreciated in value. It’s exactly this rarity trait that would make someone want to spend over 300K on a kids’ game card. The new owner of this collector’s item is now officially holding the rarest card ever printed which makes him very unique among other collectors.

These weren’t the first trading card collectibles to exist, however. People of all ages have been trading memorabilia from sports, wars, history, technology, pop culture and many other things for centuries. But until now, the only way to participate as a collector was through physical ownership of such a rare item. Now, what if someone broke into your home, smashed the crystal case at the center of your living room and took your one-of-a-kind back scratcher from the year 1918? (I’m sure there’s someone who collects these). Unless you were good with a samurai sword, how would you be able to protect your precious collectible?

Make way for NFTs!

This is where NFTs come into action. There is a new collectible in town and it is revolutionizing our entire conceptualization of proof-of-value.

So what is a Non-Fungible Token? It’s a robot monkey wearing a rainbow afro or a pug dressed as a rapper. It’s a GIF of an NBA player’s greatest moment in their career, a K-pop concert ticket or a 5-year old’s fridge-worthy drawing of a kitten. But it’s also much more than any of these things.

NFTs are a unit of data that are digitally encrypted and stored on the immutable blockchain so that you can prove the authenticity of any given item. There are 3 basic components that give NFTs their value:

  • Non-Fungibility: Fungibility is where you trade something for another of it’s own kind and do not lose or gain value in the process. This would be trading one HTR to someone for another HTR. Non-fungibility is the characteristic of making something one-of-a-kind. NFTs are unique through their own “certificate of authenticity” that cannot be altered because it is forever stored on the Blockchain.
  • Indivisibility- Cryptocurrencies are divisible into fractions and can be transacted as such. NFTs are a single unit of value that are transacted as a whole or not transacted at all.
  • Scarcity- Through this proof-of-value on the Blockchain, the rarer an NFT is, the more likely that it is to be perceived in higher value on the secondary market (considering demand).

The most common use case for NFTs are collectibles. However, this is far from being the only use for them. The truth is that NFTs are still a relatively new concept and we are only beginning to envision the real potential for these digital “certificates”. For example, one of the more recent use cases on the rise is actually one of the original intentions for Blockchain technology: traceability. It’s safe to say that they will continue to be around for some time and we will see more use cases for them in the near future.

NFTs Made Easy

In case you haven’t been in the loop, NFTs have become a very big thing on Hathor Network. Over the past few months, we have witnessed an explosion of NFT projects being built on our network. And there is a very good reason for this; until now, it wasn’t easy for any average person to mint or trade their own NFT collections.

Before Hathor Network had anything to say about it, there were numerous barriers for entry to be considered that would be enough to scare most newcomers away. An individual and their team had to have thorough knowledge of programming and deploying on the blockchain and a hefty amount of cash to be willing to spend on GAS fees. Anyone who has ever bought an NFT prior to Hathor Network will know that it is not an exaggeration that you would end up spending a great deal of the value of the NFT on the transaction or the minting itself.

Our mission is simple: to make Blockchain easy and accessible to everyone. Why should it be any different for NFTs?

We made it a priority at Hathor Labs to provide the tools necessary for anyone to mint their own collections seamlessly and the best place to start was directly in our Hathor Wallet.

Our Desktop Wallet now holds a special feature to create your own NFTs in just a few minutes, by using only 0.01HTR. In comparison with other chains, this would take days to weeks and hundreds of dollars worth of GAS fees. On Hathor Network, it’s as easy as making a few clicks. We’re here to make sure that nobody is left out of the NFT party.

Don’t believe me? Watch this video tutorial showcased by Hathor Network’s very own CEO, Yan Martins and try it out yourself:

The Dawn of Hathorian NFTs

Alice is a newcomer to Hathor Network. She stumbled upon the name while searching for an easy blockchain solution and now finds herself on Twitter eager to learn more. She is greeted by a community of every-day people building the most amazing projects on the network. Alice discovered everything from gaming platforms to incredible lifelike 3D models. There were even songs being translated into visuals, unique and rare collectibles and projects in DeFi. She also saw the empowerment of communities in developing countries and a team using NFTs for the traceability of cattle. This left her in absolute amazement of the vast potential of Hathor Network.

Her first thoughts were: It must be complicated to build a team and produce such a thing. But her disillusion was suddenly cut off by an interesting Tweet. It was from a member of the community presenting their new project which was created with none of the barriers she had always associated with building on Blockchain.

She immediately joined the community on Telegram and Discord, and was met with: solutions to problems, a L1 that is passionate about simplifying the processes and even some projects supporting one another in their development. There is endless land for all to build on, no fees, little-to-no-code required and a diverse group of people from all over the world that are empowered to push forward with their own creations. This is the beginning of her journey as a builder, as she now holds the tools necessary to develop her own use case.

NFT Week on Hathor Network

NFTs became so important to the adoption of our network and to Blockchain technology in general, that we decided to dedicate an entire week to them. They became a source for inspiration in our community and encouraged anyone to build on Hathor. Once the word spread that anyone could now easily bring their creations to life and secure them in our blockchain, it was only a matter of days before the first ideas for projects began to spur.

NFT Week is the opportunity to get to know many of these projects and allow them to tell us their stories about how they came to build on Hathor Network. It is a week-long conversation in our socials about NFTs along with fun community initiatives to keep members engaged in this topic. But it is also a great way for newcomers to come in contact with the experience of building on blockchain without the unnecessary limitations.

This is only our first edition of Theme Weeks on Hathor and we are already planning for more themes to come. Join our socials and let us know which Theme you would be interested in for us to host.

Hathor Session# 2: NFT Builders on Hathor Network

This is personally the pinnacle of my experience as Community Manager of Hathor Network to this date. We went live on our Discord Stage to interview 23 NFT projects building on our ecosystem!

Words could not properly express how incredible it was to hear the stories of each team as well as the inspiration for their creations. Even more unbelievable is that we had an amazing audience for over three hours of great presentations! The excitement continued from beginning to end.

The inspiration for the story of Alice is based on the builders who presented on our Hathor Session. These stories are living proof that our mission to make blockchain easy is well in motion.

This moment marks the dawn of NFTs without architectural bottlenecks and it’s growing quicker than we ever thought.

We want to extend a huge thank you to the projects that formed part of this fantastic event and to our community for joining us throughout NFT Week on Hathor.

Give this article a retweet and mention if you were with us as a speaker for Hathor Sessions. We would love to hear your feedback.

Here’s a recap of our very first NFT Week on Hathor:

  • Monday: Intuitive thread on our Twitter to spark conversation about NFTs
  • Tuesday: Meme War Competition to win our mystery NFT prize
  • Wednesday: Hathor Session #2: Live Discussion with NFT Project Builders
  • Thursday: Article Release: NFTs on Hathor Network
  • Friday: Mystery NFT reveal and conclusion of our NFT Week on Hathor

About Hathor Network

Hathor Network is a PoW-based novel distributed ledger architecture using both DAG and blockchain data structures intertwined. Our network’s unique design solves significant bottlenecks built with scalability, usability, and decentralization in mind, preventing the broad adoption of the technology.

Hathor Network has been on Mainnet since January 2020, experiencing exponential growth in the number of custom tokens, active wallets, and mining hash rate.

For more information, please visit our Website, Twitter, Discord, and Telegram channel.

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