NFTs have exploded into the public’s consciousness as of early 2021, but the high costs associated with Ethereum-based NFT markets has many new NFT creators seeking solutions. This is where NEAR comes into play. NEAR aims to be simple, fast, and low-cost, making the creation of NFTs a viable option for many investors and creators. Read on for more information about NEAR.
Mintbase
Table of Content
One of the latest NFT platforms to raise funding is Mintbase. It announced a $12.5 million Series A funding round led by Woodstock Fund. It is a crowdsourced marketplace that offers businesses the ability to mint NFTs. The company also provides helpful videos to explain how the platform works. You can earn money by selling NFTs or by auctioning them off. To sell an NFT, you will be charged a 2.5% commission. Mintbase will distribute your royalties automatically.
The platform offers users the ability to mint various digital assets and sell them as NEAR NFTs. It has the highest trading volume of all NFT platforms. Mintbase has raised a seed round of $1 million from Sino Global. Tokens generated on the platform will be unique and non-fungible. This will help in market events. However, users are encouraged to sell their NFTs before they lose value.
This means that the NFTs would experience unprecedented transferability, especially in cross-chain networks. Mintbase is aiming to achieve these goals by developing its NEAR protocol. It wants to support a faster adoption of NFTs, reduce gas costs, and give users a broader choice when trading their minted tokens. As a result, it is actively working to make NFTs adaptable to cross-chain networks.
The next generation of NFTs, Mintbase is a decentralized exchange that connects multiple organizations for crypto-based exchange. It will focus on ticketing and reward systems initially, but will eventually enable any organization to develop its own NFT and develop its own rewards. The NFT will enable the digital assets to travel freely through the cryptocurrency ecosystem. It will also save ticket companies money because it removes the credit card charge, which can cost as much as 3,5% plus $0,20 per ticket.
While the first version of Mintbase was launched on Ethereum, the company soon expanded to other networks. In July, it added NEAR Protocol, a competing smart-contract blockchain. Mintbase is also working with permanent storage network Arweave. The new partnership makes it possible to create, sell, and manage a variety of digital assets, such as art. This makes Mintbase a great addition to the cryptocurrency market.
Paras
The Paras team hasn’t stopped there. They plan to launch other features for NFTs. And they want to become a cultural hub for the entire NFT community. The Paras team is made up of two students who were in their final year of university. Riqi Albariqi and Faizal Alam were passionate about creating decentralized apps, but they didn’t feel like building a dapp themselves at the time.
In December, they rewrote Paras as a NFT marketplace. In a few months, the marketplace onboarded over 70 artists and eighty collectors. Users are earning revenue through digital art cards and trading. Because NEAR artworks are free to mint, the platform’s user base has grown significantly. The platform now boasts 90K registered users. And as it continues to grow, it’s sure to attract more users.
The website features several features designed to engage visitors. For instance, a homepage features Featured Collections, Top Collections for the past seven days, and the Highest Sellers and Buyers. Besides this, the “Publication” feature allows creators to enhance the visuals of their products and engage the community through editorial. Paras’ curatorial efforts also extend to social media. In addition, a section titled “Paras Editorial” profiles the latest NFT creators.
If you’re interested in staking your $PARAS tokens, Paras launched its NFT staking program earlier this year. The $PARAS utility token will be created in September 2021. The project also has a few other use cases for the token, including exclusive passes to future deals and DAO governance. After a couple of weeks, $PARAS staking will become the foundation for governance.
In the meantime, the developers of Paras have created a platform for users to sell their NFT skins and earn money. In addition to selling these skins, the Paras platform will also introduce other ways to earn in the near future. It’s possible to imagine a paras price of 0,44302 USD at the end of 2022 – just a year after its current price. By the end of three years, the Paras price could reach 0,22306 USD or 2,59341 USD.
NEAR
Minting NFTs on Mintbase is relatively simple. You’ll need a digital storefront and a smart contract. The Ethereum network has high gas fees due to network congestion, but NEAR’s gas fees are much lower. The NEAR network features an efficient contract execution model and the Nightshade dynamic sharding solution, making the network infinitely scalable. With Mintbase’s infrastructure, deploying a storefront is much easier than it was on Ethereum. Moreover, it’s cheaper and easier than ever to set up a storefront. NFTs are now available to a broad and diverse population.
To make trading as secure as possible, NFTs utilize Proof-of-Stake consensus. This means that no single person can control all the tokens in a collection. This means that everyone has an equal chance of receiving any Npunk. Despite the high demand for this new token, NFTs’ price has steadily decreased over time. This has led to a more sustainable ecosystem. With a Proof-of-Stake consensus, transactions on NEAR are largely energy efficient and have minimal carbon footprints.
NEAR projects are plentiful. Antisocial Ape Club is a notable example. This decentralized art gallery is a permanent resident on Paras, the largest NFT marketplace on NEAR. In addition to art, NFTs can help fight climate change, and the NFT community can even use the system to support local charities and non-profits. There are numerous other NFT projects that use defi and NFT technology.
A key feature of NEAR is its unique sharding approach. This approach facilitates faster and cheaper consensus. By increasing the number of validators, NEAR can improve its overall performance. Further, NEAR supports smart contracts, which enable multiple transactions to take place in parallel. Moreover, NEAR supports royalty splits in a single smart contract. A single smart contract can be linked to multiple digital wallets. The sharding process is secure and standardized.
The Paras platform is a great platform for collecting digital art cards. You can create digitized trading cards for almost any collectible. You can sell these digital assets on the Paras marketplace. Its website gives you news on upcoming NFT drops and publications. If you’re interested in buying NFTs, check out the list of the Top NFT projects on Near. All are worth checking out! And don’t forget to follow the top NFT projects on NEAR!
DAO Records
The announcement of DAO records is not surprising, considering how popular the cryptocurrency has become. Those who haven’t yet used it should familiarize themselves with the concept. The service essentially works like an auction house but uses the native currency of $TUNE. It’s currently in beta, but it’s expected to hit public beta in 2022. The NFTs, or digital tokens, will be used for a variety of purposes, including music, games, and entertainment.
The company’s founders, DJ Lethal Skillz and Vandal, say that DAOrecords is moving away from the traditional model of signing musicians with paper contracts and toward non-exclusive, IP systems. The NFT model will empower artists and give them complete control over their works and their relationship with fans. Artists will be able to create their own platforms, much like a WordPress template, and interact with their fans through those platforms. In the long run, they hope to use web3 technology to set up their own labels.
DAOrecords also offers digital distribution and NFTs, or near-future tokens, for $10 US. The NFTs allow artists to track their revenue and distribute their music to an even greater number of people. The company is actively involved in the metaverse, and its affiliated artists have been performing there since April 2020. The most recent event was the Metaverse Music Festival in Decentraland last October. The platform’s speed, cost, and efficiency attracted Vandal.
The DAO Records for NFT are distributed on the blockchain and follow the NFT throughout their lifetime. This allows it to be enforced across multiple marketplaces and secondary sales. The DAOs can choose to split royalties between multiple contributors and beneficiaries. The DAOs can also use the NFT for other purposes, such as food-growing efforts in the local community. It’s all in the name of the blockchain, and this is the first of its kind to be a royalty standard.
The DAO also plans to open up an independent label called Free-Artists, which allows fans to fund artists without compromising quality. The idea is to create a permissionless, transparent, and scalable public utility for artists that can coordinate across borders. The DAOs would be governed by DAO and have a shared financial reward structure for the members. The DAO’s goal is to build a community based on the needs and desires of musicians and fans.