NFTY News #11
NIFTY NIFTY NIFTY
NFTY this, NFTy that, NIFTY over there. It’s become a common phrase among the non-fungible token community. Guess what…I’ve got some NFTY News for you this week!
Here’s your NFTY News:
So some big news out of Axiom Zen this week. CryptoKitties is going full heads on with the KittyVerse. The CryptoKitties team is also opening up financing options to third-party developers who build on top of the CryptoKitties platform.
BUT there’s another caveat here. CryptoKitties also released the Nifty license.
Here’s why I’m skeptical:
Non-fungible tokens could become more decentralized by becoming more like an assembly line made up of individuals. Each creator or designer would submit proposals for new second-layer experiences or digital assets (new cats) powered by an underlying token.
But how do centralized game companies create flagship products in a token economy while preserving IP and encouraging permissionless development to generate sustainable revenue? It’s unclear what the path forward is.
Unblockable Raises $5M led by Lightspeed Ventures to create a cryptocollectibles for professional athletes
The cryptocollectible space is heating up. After the successful launch of CryptoStrikers, a team made up of former pro athletes launch a cryptocollectibles platform for sports players. This seems like a bet that the team of Unblockable can solve the licensing issues CryptoStrikers faces and add additional fantasy utility to the cards. Will fantasy/sports-betting games be the way people earn their way into crypto? 🤔
One of the most anticipated platforms for digital artists to sell their work has launched on Ethereum main net. Check out their platform!
NFT Standards 📝
Do we need ways to create child-tokens with ERC998?
Or define the state of several tokens with ERC1180?
How about transferring NFTs by lot to save on gas especially with today’s gas prices 📈 using ERC875?)
Or be able to create multiple fungible tokens and non-fungible tokens in a single contract (ERC1155).
I think the answer is yes, but there shouldn’t be a definite standard for NFTs.
But what I do know for sure is that we are focusing too much on standards. We should should be focusing on building usable applications with blockchain. Here’s a snippet from an excellent thread from ETH BUILD from Matt Condon:
We may have a clear path to scalability and usability. Loom Network has made their implementation for plasma cash with non-fungible tokens open source. With sidechains, there’s a tradeoff between usability and trust. The sidechain plasma cash implementation is not proven but holds immense promise.
🇭🇰NIFTY Hackathon & Conference in Hong Kong is July 24–26 🇭🇰
Interested in NFTs and Blockchain Gaming? The folks at Kenetic and Decentraland are co-hosting a hackathon and conference in Hong Kong. I also have a discount code for my readers! Use NFTNEWS20 to receive a 20% discount off of your ticket. Buy a ticket at: nifty.gg
I’m always trying new experiments and formats with my newsletter to learn the best way to deliver news with my own spin. To ensure the quality of the content, I’ve put my newsletter tokens on hold to build out a better system. They’ll be back soon!
Interested in more NFT content? Sign up 👇