CaptureClub to issue first NFT Drop in collaboration with ThunderCore and DJ Kaku

Update: DJ Kaku’s latest collection titled “ivi” concluded 4/24 at 10:30 am. The work titled “Future” was auctioned off and closed at 1,428,388 TT tokens (approximately $24,754 USD). The winner of the auction received exclusive access to the work and was given the opportunity to collaborate with Kaku on a super-limited remix at the Drop party on 4/23.

In early March, in Blog Post#6: CaptureClub Introduction, we announced our plans for creating a digital marketplace for Captures, digital assets that have their ownership, context and integrity preserved, and NFTs. We are excited to share that in under 24 hours (April 23), our NFT collaboration with KAKU — music DJ/producer based in Taiwan and ThunderCore will be going LIVE. It’s important to note that this NFT drop is for a good cause as a portion of the sales proceeds will be donated to The Global Fund to help fight against AIDS and COVID-19.

CaptureClub NFT Marketplace Addressing Data Provenance

One of the biggest headlines of 2021 is the growing appeal of Non-Fungible Tokens (NFTs). NFTs are tokens assigned to digital assets that trace ownership and hold value. It is now possible for digital assets to be “owned”. The NFT boom came with it many critical issues including data provenance, who has the right to mint NFTs, and what are you actually getting with a NFT.

It’s fundamental that creators should get credit for their creations. This is why the ownership aspect of NFTs is so attractive. However as it stands today, tracking ownership is not enough. Currently, on many platforms, anyone can mint an NFT token. This means anyone can download an image and sell it as their own. As you can imagine, this behavior opens the door for fraudulent behavior and diminishes the trust NFTs are supposed to give. This issue goes back to the problem of assets themselves lacking data provenance.

Currently a raw image on the internet is just a raw image. It is empty and contains no information. With Capture, digital assets are information containers. They contain layers of information that include creators and context among other things. The most important part is the information sticks with the asset even as it is distributed over the internet making it verifiable and traceable in ways NFT tokens cannot trace. Capture digital assets have data provenance. For more information about this looks check out Blog Post 5: Enhancing NFTs with Capture.

CaptureClub is a marketplace for Capture digital assets and looks to be the platform that shuts the door on fraudulent behavior by maintaining data provenance and ultimately the value of assets. Additionally, CaptureClub will double down on authenticity by limited NFT minting to creators-only. In this way we can maintain the integrity of the assets on the platform.

Getting Diamonds Instead of Certificates

Another key concern of NFTs is what exactly am I getting when I purchase an NFT? As mentioned earlier, NFT are crypto tokens that record the history of ownership. When you purchase an NFT, you are actually just buying the token or asset record. The asset is separate, often times not even connected with the transaction. For many, this type of interaction is quite confusing and can seem like a scam.

Let’s consider the following analogy. Diamonds are physical items that have associated certificates that characterize the value and grade of diamond. As it stands when you buy an NFT, you are essentially buying the certificate and MAYBE getting the diamond later. This diamond can also be not the original or the channels to access it may be removed. The proper interaction would be buying the diamond and getting the certificate with it to confirm its authenticity. This is the type of interaction CaptureClub has.

As mentioned before Captures digital assets have metadata injected into it. Among the pieces of information is NFT token. So when transacting on CaptureClub, you are buying the asset (diamond) and the certificate (NFT token) is injected inside.

Addressing High NFT Cost with ThunderCore Partnership

One thing that wasn’t mentioned is the cost. Today most NFTs are Ethereum tokens and because of congestion issues, costs have become very high. To illustrate, an NFT priced at 2.23 USD (0.001 ETH) required roughly $113 USD (0.044 ETH) in gas fees. Simply stated, the fees are unreasonable and it single handedly ruins the customer experience.

For this reason, CaptureClub decided to explore other blockchain alternatives. This is where our partnership with ThunderCore comes in. Announced in December of 2020, ThunderCore blockchain boasts high performance and most importantly much lower gas fees. The added benefit of being ERC-721 compatible makes it very attractive for CaptureClub.

CaptureClub Creator / Customer First NFT Platform

Digital assets market is a huge market that continues to grow with NFTs becoming more accepted commodity. With NFTs becoming mainstream it is important to make the digital asset creation and shopping experience as friendly as possible. CaptureClub puts creators first by offering a way to secure their assets and a platform where only creators can mint and list.

Just as important is the buying experience. For that reason, CaptureClub platform removes digital asset skepticism by being a platform with only authentic assets guaranteed by Capture data provenance and blockchain immutability. Features like being able to transact with credit card helps with inclusivity and reduces the barrier of entry into owning digital assets.

Kaku NFT Drop Ushering in Next Generation NFT

We see Capture assets as next generation NFTs and CaptureClub is the medium for public access. Together, they represent the first steps to actually having a space on the web that has only authentic media. Kaku’s upcoming NFT drop are those first steps taken.

Check it out and support a great cause!

Let us know what you think?

What are your thoughts on CaptureClub first NFT drop? We would love to know your thoughts!

If you haven’t downloaded Capture App consider downloading on Android and iOS and letting us know what you think. We appreciate any and all feedback :) Happy Capturing!

Here at Numbers we are firm believers in open source projects and opening up innovation to everyone. If you are interested, Capture App project is open source and available for the public to view and contribute. Check it out!