NFT Factory Beta Launch
HEADLINE is pleased to announce the public beta launch of NFT Factory (9/3/22). Before diving into all the exciting features of this new Algorand NFT marketplace, let’s first go over our thesis on NFT Factory and the larger Algorand ecosystem.
We believe that Algorand will be one of the major winners out of the current L1 landscape. POS blockchains are looking to solve two major challenges on Ethereum — energy efficiency and scalability. But what does winning the L1 battle really look like on a practical level, i/e, specifically in regards to NFTs and NFT marketplaces?
Using Magic Eden as an example, the top NFT marketplace on Solana — winning could mean seeing a 5–10x multiple of Magic Eden’s current 21 million monthly user sessions. So the problem we are looking to solve with NFT Factory is this — how do we build a marketplace on Algorand that scales (where we believe Algorand is headed) without compromising the user experience in the trenches today?
Taking a step back, we knew NFT Factory was going to need a powerhouse backend to scale efficiently. The type of system we wanted to build did not exist on Algorand, so we enlisted one of the top systems devs on Ethereum, with a proven track record of delivering scaling solutions, to build an absolute machine of a backend for us. We’ll dive into system specs and features a little lower on the page.
This project kicked off in April of 2022, and now, in September 2022, we are excited to open the Factory up to users.
Beta features
Wallets:
- Full integration of Pera Wallet
- Full integration of MyAlgoWallet
Gateway
Proprietary IPFS gateway with Infura
Minting
- Full support of ARC3 NFT minting and relisting
- Full integration of ARC 69 NFT minting, relisting, and configuration
- Full integration of ARC 19 NFT minting, relisting, and configuration
(We are the only NFT marketplace on Algorand that supports on-platform ARC19 minting and configuration)
User Experience
- User profiles with 20+ modifiable properties including cover photos and PFPs
- Sales data per user
- NFT ownership analytics per user
Additional Features
Unique NFT property configurations such as embeddable licenses
Beta features coming soon (7–14 days):
Collections
- Full collections integration:
- Users will be able to host and launch full collections on NFT Factory. Collections pages will be stable URL endpoints.
- Collections pages will be loaded with customizable features to connect with your community.
Wallets
- WalletConnect support
(currently only minting and listing are supported) - AlgoSigner support
(currently only minting and listing are supported)
Moving beyond the beta features, let’s look at the fees and incentives for NFT Factory:
Fees/Royalties
Platform
- 3% platform fee on all sales
(with min. 1 Algo fee on sales under 30 Algos) - 0% fee for minting/configuration
- 0% fee for collections pages
- 0% fee for listings
Creators
10% fixed royalty fee for creators on all sales
Rewards
We saved the best for last! NFT Factory is launching an incentives program for NFT listings and sales. Users that list and sell NFTs from popular NFT collections will earn Factory points that will automatically be added to their Factory account.
NFT Collections eligible for Factory points will be updated weekly, based on the top-10 NFT collections on Algorand for that week. Factory points will be updated in real-time as users interact with the marketplace.
Factory Points
Earn
- Earn Factory points for listing popular NFTs
- Earn Factory points for selling popular NFTs
Spend
- Trade Factory points for HDL+
- Take advantage of exclusive offers, whitelists, discounts
Factory points will earn you HDL, the utility token of NFT Factory. HDL earned on NFT Factory via Factory points (HDL+) can be used to claim Whitelist spots for exclusive drops, earn major discounts on popular NFTs, access new platform features first, and much more. Technical details on HDL+ will be made available in the coming weeks.
The first iteration of Factory Points will be available in approx. 7–14 days.
NFT Factory’s official beta starts 9/3/22. Users can, however, join the beta early. Users are free to mint, list, sell, and explore the platform. But keep in mind that the Factory is in active development. User experience may vary considerably. And always remember to wear a hard hat. 👷🏗️
Other News
HEADLINE is preparing to launch a long-form Algorand-centric podcast, called Blockies. Blockies will feature all of the most interesting personalities, projects, builders, creators, and degens in the Algorand ecosystem. The purpose of the Blockies podcast is to shine a spotlight on Algorand via long-form streaming conversations (similar to UpOnly and Joe Rogan Experience).
To coincide with and promote the launch of Blockies, HEADLINE has created its first generative Algorand NFT collection — Blockies. Blockies are inspired by the Blockie avatars in Web3 wallets (the Web3 iterations map a unique array of colored shapes that coincide with your wallet’s digital signature).
This generative NFT collection features 10,000 unique 1/1 blockie-inspired digital artwork NFTs that we are excited to introduce the Algorand ecosystem. The shuffle launches on ALGOxNFT in the next few hours!
