#Solana NFT Development

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Solana Blockchain Development Services - Mobiloitte

Revolutionize your business with Mobiloitte's Solana Blockchain Development services. Harness the power of Solana's lightning-fast transactions and low fees to propel your projects to new heights of efficiency and scalability. Experience seamless integration, unparalleled security, and unparalleled performance. Trust Mobiloitte to unlock the full potential of blockchain technology for your enterprise. Elevate your business, embrace Solana today.

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Solana NFT Marketplace Development|Connect With Us To Build One Today

The Solana NFT marketplace has gained tremendous traction since the launch of its blockchain network in March 2020. It has set a benchmark in the NFT industry by offering lightning-fast transaction speed, optimal fees, and hassle-free transaction processing. 

Interestingly, in April 2023, Solana had a whopping trading volume of $90 million! Can you believe it? It’s impressive, considering that Solana was just an idea pitched by Yakovenko back in 2017. 

Now creators and businesses from different industries like music, entertainment, and consumer products are getting into the NFT craze. Some find it convenient and affordable to work with existing platforms that handle NFT sales and already have a  base. But many prefer freedom and control with their own NFT marketplace. It gives them more flexibility to do things their way and create their own unique NFT experience. 

Considering this, there are ample blockchain networks on which you can build your NFT marketplace. But Solana stands out amongst them. 

Konstantin Anissimov, the chief operating officer at crypto exchange CEX.IO, explains that Solana takes a unique approach to tackle the limitations of earlier blockchain solutions. It combines proven cryptographic strategies with dynamic innovations, offering a powerful solution to overcome the challenges faced by the first generation of cryptocurrencies. 

In simple terms, the Solana blockchain brings together the best of both worlds to provide a more advanced and efficient blockchain platform. As an NFT marketplace development company, today we will discuss the nitty gritty of Solana NFT marketplace. We will cover the following aspects:

Why Build An NFT Marketplace On Solana?

List Of Best Solana NFT Marketplaces

How Do We Ace Up Your Solana NFT Marketplace Development?

Our Solana NFT Marketplace Development Services

Why Build An NFT Marketplace On Solana?

Building an NFT marketplace on Solana is a smart decision for several reasons. Solana has established itself as a fourth-generation blockchain platform, offering exceptional scalability and remarkable transaction speeds. Solana NFT marketplace stands out from other blockchain platforms due to its unique combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) mechanisms. This combination ensures efficient rewards for miners or validators, making it more environmentally friendly than traditional Proof-of-Work (PoW) systems. Solana contributes to its unparalleled performance and scalability with its core features, such as Proof-of-History, Tower BFT, Turbine, Gulf Stream, Sealevel, Pipeline, Cloudbreak, and Archivers. Additionally, the native cryptocurrency of Solana, SOL, has various uses within the Solana ecosystem, including paying for transactions and earning staking rewards. While Ethereum remains popular, Solana’s superior throughput, lower transaction fees, and energy efficiency make it a compelling option for investors and developers. With its strong foundation and rapid growth in the Web3 market, Solana has the potential to revolutionise the world of NFTs and overcome traditional blockchain limitations. Connect with our blockchain experts to curate a plan & build a robust Solana blockchain NFT marketplace today!

List Of Best Solana NFT Marketplaces

Are you looking for the best Solana NFT marketplaces? We’ve got you covered with our list of the top choices. Let’s dive into the highlights of these featured Solana NFT marketplaces:

Magic Eden

SolSea

One of the largest marketplaces on Solana, SolSea offers unique tools for creators and a user-friendly interface. Keep an eye on their Calendar feature for hot project releases.

Solanart

Solanart is one of the popular Solana NFT markets for digital art enthusiasts. It showcases notable collections like Degenerate Ape Academy and provides helpful stats on listed NFTs.

Hyperspace

This Solana NFT aggregator allows trading across various marketplaces from one platform, making it convenient for beginners and experienced traders.

Coral Cube

An NFT aggregator that grants access to a wide range of collections, including those available on the secondary market. Coral Cube’s rarity rank feature guides buyers in their selection.

DigitalEyes

Known for its user-friendliness, DigitalEyes offers a seamless interface and supports a variety of Solana wallets. It has an impressive collection like Galactic Gecko and Degenerate Ape to discover.

Exchange.art

Although a newcomer, Exchange.art has made its mark with a diverse range of valuable NFT collections. No listing fees, no curation process, and the ability to make offers on any NFT make it an intriguing choice.

These Solana NFT marketplaces offer unique features, excellent user interfaces, and support for various wallets. Each has distinctive characteristics that you can explore to find the one that suits you. And for better guidance on Solana NFT marketplace development, you can contact our blockchain experts!

How Do We Ace Up Your Solana NFT Marketplace Development?

To ace up your Solana NFT marketplace development, we offer a range of advantages and essential steps that ensure a thriving platform.

Advantages of Solana NFT Marketplace Development:

We provide a user-friendly management and login interface, simplifying listing crypto assets, creating NFTs, setting metadata, and placing them on auction within your Solana NFT marketplace.

We focus on designing an attractive storefront that seamlessly interacts with smart contracts, enabling the creation of NFTs and linking them to crypto assets.

Security is our priority, and we ensure a secure wallet solution for your users’ feasibility

A comprehensive search feature with customisable filters allows users to easily navigate and explore your NFT marketplace.

We can establish a Native Platform Token as an Application Native Token, expanding the market supply and offering users the option to purchase NFTs with the native platform Token.

Boost bidding activity through a time-based auction and bidding system, increasing the number of NFT bids.

NFT metadata storage is hosted on the IPFS File System, a decentralised and distributed storage system, ensuring data integrity and accessibility.

Our admin panel provides you with comprehensive control over user management, token management, NFT management, data management, and static content management.

Steps Of Solana NFT Marketplace Development:

We start by designing an exemplary user interface for your NFT marketplace, ensuring an intuitive and engaging user experience.

Our expert developers code the necessary functionalities required for your NFT marketplace.

We write smart contracts that power the core features of your NFT marketplace.

Rigorous smart contract audits are conducted, covering all appropriate test cases to ensure reliability and security.

We connect the smart contracts to both the front end and back end of your marketplace, ensuring seamless integration and functionality.

Thorough client testing is performed by uploading your marketplace to the test net, ensuring its stability and performance.

Finally, we prepare for the public beta release or mainnet deployment, marking the official launch of your Solana NFT marketplace.

Are you looking to develop your Solana NFT marketplace? Partner with Systango now! We offer customised services and clone scripts of popular NFT marketplaces, ensuring you have the tools and expertise to disrupt the NFT market. From concept to design to deployment, we’ll guide you on every step to build a world-class Solana NFT marketplace.

Our Solana NFT Marketplace Development Services

Solana NFT Marketplace Website Development

We will help you launch your very own NFT marketplace website. With our expertise, we ensure meticulous smart-contract auditing services and provide complete maintenance and support to keep your platform running smoothly.

Solana NFT Marketplace App Development

In today’s mobile-dominated world, having a feature-rich NFT marketplace app is essential. Our skilled team excels in Solana NFT Marketplace App Development, crafting advanced mobile apps that operate seamlessly on the Solana blockchain, tailored to meet all your business requirements.

Solana NFT Minting Development

Our expertise extends to Solana NFT Minting Development, where users can mint their digital assets as NFTs. We offer multiple minting modes, enhancing market visibility and providing a user-friendly minting experience for your platform.

Solana NFT Smart Contract Development

Our certified smart contract developers undergo meticulous testing and audit processes to ensure bug-free and secure smart contracts that power your NFT marketplace.

NFT Marketplace Maintenance & Support

We understand the importance of maintaining a highly functional and trustworthy marketplace. Our dedicated professionals will diligently support the team, providing ongoing maintenance and support services. We ensure your marketplace remains uninterrupted on its roadmap to success. Systango’s Solana NFT Marketplace development services let you use the full potential of the Solana blockchain for the booming NFT market.

Our comprehensive range of services caters to your business-specific needs, ensuring a seamless and successful NFT marketplace venture. Connect with us now!

Original Source- https://www.systango.com/blog/solana-nft-marketplace-development

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check it out for your better future.

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NFT Marketplace Development services in usa

Unleash Limitless Possibilities with Mobiloitte usa NFT Marketplace Development results! Elevate your business with our cutting- edge technology, flawless user experience, and robust security features. Dive into the booming NFT market and enjoy increased profit streams, global reach, and enhanced brand visibility. Join us to revolutionize digital power and empower artists, collectors, and investors. witness the future, today.

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A Solana-Based NFT Marketplace: What Is It? and its developmental steps?

Users can purchase, sell, or trade non-fungible tokens (NFTs) on the Solana blockchain using a decentralised marketplace that is built on the Solana platform.

Digital assets that cannot be duplicated include NFTs. They can be bought, sold, or traded like any other asset and can represent anything from digital art to in-game items.

A high-performance blockchain that can handle thousands of transactions per second is the Solana blockchain. It is therefore the perfect foundation for creating a decentralised market for NFT marketplace development . The Solana blockchain’s primary benefit is that it enables low-cost, nearly instantaneous transactions. This enables the creation of a quick, effective, and inexpensive marketplace for users.

How to Create a Solana NFT Market

Step 1: Determine the NFT Market Type

As a first stage, decide what kind of NFT Marketplace you want to create based on your end purpose. NFT Markets typically come in two types:

Comprehensive NFT Market: Nearly all NFTs, including artwork, video games, collectibles, sports, music, etc., are traded on this kind of NFT platform. As a result, it serves as a forum for all NFT buyers and sellers.

Concentrated NFT Market: Only specific NFT kinds are exchanged on this kind of NFT platform. Consider an NFT platform, like NBA Top Shot, that is solely devoted to NBA sports collectibles. As a result, it is a specialised platform that caters to and supports only specific NFT buyer and seller types.

It is clear from the foregoing that the technology platform draws users who are extremely focused and focussed, whilst the generalist platform can draw in more users. In light of the needs and goals of the organisation, you therefore have the last word.

Step 2: Select the Features of the NFT Marketplace

List the features you’d want to see in the NFT Marketplace now that you’ve selected what kind of NFT Marketplace you want. You may add a lot of features to your NFT Marketplace to make it successful, but let’s look at some of the more well-liked ones first:

Popular NFTs: Based on the quantity of bids or views, a list of the top NFTs is available to all platform users.

Top buyers and sellers include: The top buyers and sellers of NFTs can be ranked according to how many NFTs they have purchased and sold.

A user’s previous bids: Every user has access to their historical bids as well as the current performance of those bids.

Send alerts: You can send push notifications for each user’s activity on the platform, such as after a successful bid on an NFT, the purchase or sale of an NFT, the addition of money to a user’s wallet, and so forth.

Users can use the search bar to hunt for specific NFTs, or they can use it to look for NFTs in general.

Step 3: NFT Development Company’s Selection Process

It’s time to consult specialists now that you have a list of features you want your NFT Marketplace to include and know what kind of NFT Marketplace platform development you want.

Step 4: Decide on a means of earning money.

You should sit down with your newly recruited NFT developer from an NFT Development Company and decide on a great revenue stream. There are numerous methods for doing this, however the following are the most typical ones:

Step 5: Create the NFT Marketplace’s front and back ends.

It is now time to start building the NFT Marketplace, which serves as the process’s skeleton. At this stage, everything from UI/UX to writing the logic of the smart contracts that make up the NFT Marketplace take place. Therefore, building a fully functional NFT Marketplace requires a lot of work. Consider creating a Whitelabel NFT Marketplace instead since it is simpler to do so and involves less work.

Step 6: Launching and Beta Testing

Your NFT Marketplace is now all constructed, but you still need to complete one more step before launching it. Beta testing is required to ensure that there are no errors or issues with the NFT Marketplace. Because your NFT Marketplace may be seriously threatened by hackers if you fail to address any security weaknesses.

You can finally open the NFT Marketplace if the most exhaustive testing turns up no issues. If the contrary occurs, you should do beta testing first, fix the bugs, and then repeat the process until the test results are bug-free.

Step 7: Customer Care and Upkeep

It’s time to offer customer support and do routine maintenance on your NFT Marketplace now that it has been launched. It is the last phase, but it is also the most important for the development of your NFT marketplace. Therefore, your NFT Marketplace development service will only scale up and may expire if you don’t have a customer care team that responds to consumer inquiries and if you don’t regularly maintain and upgrade your software.

Conclusion :

Finally, Solana is a force to be reckoned with when it comes to NFT Marketplace Development. You should now have a better idea of what it takes for NFT Developers to create an NFT marketplace on Solana after reading this comprehensive guide. We sincerely hope that you found this guide to be useful and that you’ll put what you’ve learned to use in building a successful NFT market.

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 As the top Solana NFT marketplace development company, Nextbrain renders a complete guide of Solana NFT marketplace development and how developers are well-defined of their expertise.

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Solana NFT Marketplace Development Services by Mobiloitte

Dive into the future of digital art with Mobiloitte's Solana NFT Marketplace development. Seamlessly blend creativity and technology while harnessing Solana's lightning-fast transactions and low fees. Elevate your NFT game with our cutting-edge platform, offering secure, efficient, and customizable solutions. NFT revolution with Mobiloitte and unlock limitless possibilities for your digital assets NFT Marketplace Development

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Solana Blockchain dAPP Development Services

Solana is becoming one of the fastest-growing blockchain platforms with global adoption over the last few years. According to reports, the market cap of blockchain is increasing by 400% in the summer of 2021. Solana is a direct competitor to Ethereum that can empower decentralized application development in an efficient manner. 

Solana dApp development services help organizations to create enterprise-grade dApps to provide a great user experience across different use cases. We offer the freedom to businesses to launch highly customized Solana-based dApps for payments peer-to-peer lending, token swaps, etc. 

Innosoft NFT marketplace development services help clients from different industries. Our Solana-powered NFT marketplaces are embedded with a bunch of features to provide the best trading experience to the users. The smart contract architecture practices provide smart contract development services integrated perfectly into different industries. 

The Solana wallet development team develops easy-to-use, multi-coin, and secured wallets. These wallets come with a multitude of features like multilingual support, In-chat payments, QR code scanners, NFC support, etc. Moreover, we assist our clients in their Solana Defi exchange development journey by providing them with the right platform for lightning-fast trades, pooled liquidity, low-cost transactions, etc. 

Innosoft blockchain app development services come with tokenizing the artwork or video files on Solana. We provide advanced token development services to help our clients fulfill their Solana toke development needs. Solana Program Library tokens created by developers can be easily exchanged on different decentralized platforms. 

Moreover, Solana contains certain features that make it the best blockchain platform. 

Proof-of-History: Solana is using a combination of PoH and Proof of Stake consensus mechanisms. While the PoS is responsible for the environmental friendliness of the blockchain, PoH makes sure the network has higher efficiency and higher throughput. 

Tower BFT:  Solana blockchain is using the Byzantine Fault Tolerance (BFT) algorithm that ensures the entire system will stay intact if a particular node fails. Moreover, the decentralized application built on the Solana Blockchain does not face any downtime.   Pipeline: A transaction processing unit is responsible for assigning a stream of incoming data to various parts of hardware in the Solana network for processing.

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Exploring The Potential Use Cases Of Smart Contracts And Decentralized Applications

The advent of blockchain technology has paved the way for revolutionary advancements in various sectors, offering secure and transparent solutions for a multitude of applications. At the heart of this transformative technology lies the concept of smart contracts, which enable the automation and execution of agreements without intermediaries. Combined with decentralized applications (dApps), smart contracts have the potential to revolutionize industries by enhancing security, efficiency, and transparency. Click here to know more.

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19 Best Blockchain Marketplaces To Buy and Sell Digital Assets and NFTs 

#Blockchain platforms, which provide secure and transparent platforms for buying and selling assets, are ideal for trading #digitalassets and #NFTs. There are dozens of #NFTmarketplaces, many of which specialize or have a specific focus. Read More Here!

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NFT Minting Platform Development  Solutions

Minting an NFT is the tokenization or the creation of a digital ‘receipt’ that is saved on the blockchain. Minting NFT refers to the process of converting a digital file into a crypto collectible or digital asset in an Ethereum blockchain.

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NFT Marketplace Development Company in USA

Mobiloitte USA is a leading provider of NFT marketplace development services in the USA. We have a team of experienced and certified developers who can help you build and launch a successful NFT marketplace. We also have a deep understanding of the US NFT market and can help you to develop a marketplace that is tailored to the needs of your target audience. If you are looking for a partner to help you develop a successful NFT marketplace in the USA, contact Mobiloitte USA today.

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Introduction : Brief overview of cryptocurrency investing.

Best Cryptocurrency to Invest in 2023: A Comprehensive Guide

Investing in cryptocurrencies can be both exciting and daunting. With the market constantly evolving, it's crucial to stay informed about the best options for potential investments. In this guide, we'll explore the landscape of cryptocurrency investments, highlighting the top choices and offering insights into the factors that influence their performance.

Introduction

Cryptocurrency has become a buzzword in the financial world, with investors seeking opportunities in the decentralized digital assets. As the market continues to expand, it's essential to navigate through the various options and make informed decisions.

Understanding Cryptocurrency

At its core, cryptocurrency is a digital or virtual form of currency that uses cryptography for security. Unlike traditional currencies, cryptocurrencies operate on decentralized networks based on blockchain technology, ensuring transparency and immutability.

Factors Influencing Cryptocurrency Investments

Market Trends and Analysis

The cryptocurrency market is known for its volatility, influenced by various factors such as market demand, technological advancements, and macroeconomic trends. Analyzing these trends provides valuable insights for investors.

Regulatory Factors Affecting Investments

Government regulations play a significant role in shaping the cryptocurrency landscape. Understanding the regulatory environment is crucial as it can impact the legality and acceptance of specific cryptocurrencies.

Best Cryptocurrencies to Invest In

Bitcoin

As the pioneer of cryptocurrencies, Bitcoin remains a prominent choice for investors. Its historical performance and market dominance make it a relatively stable option, especially for those new to the crypto space.

Ethereum

Beyond being a digital currency, Ethereum is known for its smart contract capabilities, enabling the creation of decentralized applications (DApps). Its potential for future growth is tied to the continued development of the Ethereum ecosystem.

Binance Coin

Operating within the Binance ecosystem, Binance Coin has gained popularity due to its various use cases, including transaction fee discounts and participation in token sales on the Binance Launchpad.

Cardano

Cardano stands out for its focus on sustainability and scalability. With a unique consensus algorithm and a commitment to research-driven development, Cardano offers features that set it apart from other cryptocurrencies.

Solana

Solana boasts impressive speed and scalability, making it a preferred choice for developers. Projects built on Solana benefit from its efficient and low-cost transactions.

Risks and Challenges

While the potential for high returns exists, cryptocurrency investments come with inherent risks. Market volatility, security concerns, and regulatory uncertainties are challenges investors must navigate.

Tips for Successful Cryptocurrency Investing

Diversification of the Portfolio

Diversifying your investment portfolio helps spread risk. Consider allocating funds across different cryptocurrencies to minimize the impact of poor performance in a single asset.

Research and Staying Informed

In the ever-evolving cryptocurrency market, staying informed is crucial. Regularly conduct research, follow market trends, and stay updated on news that may influence your investment decisions.

Risk Management Strategies

Implementing risk management strategies, such as setting stop-loss orders and defining an exit strategy, can help protect your investment from sudden market fluctuations.

Future Trends in Cryptocurrency

As technology advances, new trends emerge in the cryptocurrency space. Keep an eye on developments such as decentralized finance (DeFi), non-fungible tokens (NFTs), and other innovative applications that could shape the future of the market.

Case Studies

Learning from the experiences of successful cryptocurrency investors can provide valuable insights. Additionally, understanding the mistakes made by others can help you avoid common pitfalls.

Frequently Asked Questions (FAQs)

Is cryptocurrency a safe investment?

While the potential for high returns exists, cryptocurrency investments come with risks. It's essential to conduct thorough research and only invest what you can afford to lose.

Which cryptocurrency is the most stable?

Bitcoin is often considered a more stable option due to its long history and market dominance.

How do I diversify my cryptocurrency portfolio?

Diversification involves allocating funds across different cryptocurrencies to minimize risk. Consider a mix of established and promising projects.

What are the security risks associated with cryptocurrency?

Security risks include hacking, fraud, and the potential for technological vulnerabilities. Using secure wallets and practicing good cybersecurity habits is crucial.

How often should I review my cryptocurrency portfolio?

Regularly review your portfolio to stay informed about market trends and adjust your strategy based on changing conditions.

Conclusion

Navigating the world of cryptocurrency investments requires a combination of research, risk management, and a forward-looking perspective. By understanding the factors influencing the market and exploring the best cryptocurrency options available, investors can make informed decisions that align with their financial goals.

[ragunath12]

New Solana and Stepn Ethereum NFT Marketplace Challenges Anti-Royalty Trend

Will merchants pay $30 a month to buy and sell NFTs — and not just digital shoes — on the “move to win” in-game marketplace?

New Solana and Stepn Ethereum NFT Marketplace Challenges Anti-Royalty Trend

Amid a recent surge of NFT marketplaces rejecting creators’ copyrights , either through zero-royalty or opt-in models, a surprising new challenger has emerged: MOOAR, from the creators of the game Move-for. -Win Stepn . It has a unique membership model — and it also enforces copyright.

MOOAR, launching today, supports NFT marketplace development minted on both Ethereum and Solana , and not just features Stepn’s own digital sneakers. The marketplace also supports other NFTs from both blockchains, and will have its own launch pad for the debut of new projects from third-party creators, as voted on by GMT token holders.

As already mentioned, MOOAR will apply the royalties established by the creators in the secondary market sales, normally a fee of 5% to 10% that is deducted from the sale price. And unlike many exchanges that also charge their own fee, MOOAR will charge a monthly subscription fee of $29.90 for users to trade.

Shiti Manghani, COO of Stepn engineer Track down Satoshi Lab, conceded to Decode that it very well may be trying to find reception of a Web3 stage with a month to month membership cost, instead of taking a little level of each NFT deal. Nonetheless, for serious shippers, that almost $30 month to month cost could appear as though an insignificant detail contrasted with regular expenses.

“Like most utility applications on Web2, whether it’s Netflix or Amazon Prime, we’ve gone through a participation model,” he said. “It’s anything but something simple to do. It won’t be not difficult to assemble and develop, and we’re completely mindful of that. However, we’re driven by long haul esteem.”

MOOAR’s send off follows a progression of moves by contending commercial centers to overlook makers’ copyrights or allow dealers to choose whether or not to respect them — a “rush to the base,” as some say. they’ve named it, as adversaries tear each other down while influencing makers’ income streams simultaneously.

The pattern began in the Solana space recently, however has sped up quickly lately as copyright-yelling rivals worked available portion of top stage Sorcery Eden. Wizardry Eden at last followed after accordingly , making copyright discretionary. It’s going on in the Ethereum space also, with LooksRare moving against copyright the week before.

MOOAR has been in progress for a really long time and is the most recent move by Track down Satoshi to extend the environment around Stepn. The studio recently sent off its own decentralized trade (DEX) called DOOAR in June, and it is the most broadly involved DEX based on Solana in conditions of dynamic wallets.

In other words, the developer of Stepn didn’t just create its own marketplace in recent weeks, solely to buck the anti-rights trend. But when asked about the team’s position, Manghani made an impassioned defense of why many creators consider copyright an essential source of revenue and the key to the spirit of decentralized Web3 .

Manghani cited the extractive platforms of Web3 marketplace development, such as social media sites built on creators’ output and streaming media platforms that pay paltry sums to most artists. In his opinion, seeing NFT markets override copyrights established by creators is a rejection of Web3’s values.

“We built Web3 to change all of that, right? Now what’s the point if we re-centralize the entire platform and start exploiting creators? On an abstract level, that doesn’t feel right to me,” Manghani said.

Manghani cited the extractive platforms of Web2, such as social media sites built on creators’ output and streaming media platforms that pay paltry sums to most artists. In his opinion, seeing NFT markets override copyrights established by creators is a rejection of Web3’s values.

“We built Web3 to change all of that, right? Now what’s the point if we re-centralize the entire platform and start exploiting creators? On an abstract level, that doesn’t feel right to me,” Manghani said.

Stepn became wildly popular this past spring, surpassing 3 million monthly active users at its peak,

AS its cryptocurrency tokens skyrocketed in value. The mobile app uses a “move to win” model to incentivize users to run and exercise, rewarding them with cryptocurrency tokens for doing so. However, they must first purchase and equip the NFT marketplace platform development -based sneakers to get the rewards.

The game quickly found an avid audience earlier this year, but the buzz was short-lived: its GST reward token has lost more than 99% of its value , according to CoinGecko data, while the number of monthly active wallet users who connect to the game is down 88% since May .

Manghini said that Find Satoshi Lab intends to develop a fleet of additional applications built around Stepn’s GMT governance token. Like DOOAR before it, he believes MOOAR will be a “powerhouse” to drive more value to GMT and the Stepn-led ecosystem.

[fblauer01]

How NFT’s and AI tools complement Web3 Social Media

Introduction

NFT’s and AI complement web3 social media. For example NFT’s can be used for access to exclusive content, voting rights, raising money to fund projects, the ability to create and own digital art, and trade with other users for collectibles, ticketing etc. When you combine this with social media and AI, it is even more powerful. With AI tools for creating images and blogging for example, almost anyone can be more productive and creative. So far the AI is mostly being used for text content and images, but will soon we will be able to use it for videos, sound and music as well. People are experimenting with new types of creative expression, and value based social interactions which were not possible before. I will give you some examples of “nextgen” social platforms that I have been using and evaluating.

Platforms

Deso/Diamond app, NFTz etc.

Here is a high level summary of the Deso platform. Onboarding is pretty easy, and you don’t require a special invitation. You will need a tiny bit of Deso for gas, but it will go a long way. You can buy a few dollars worth with fiat currency, and that will be more than enough to get going. You can always earn more. Deso is the least expensive platform that I have seen. Compute and storage is very cheap (see summary above). There are lots of different dapps and new ones appearing all the time. They all integrate and share the same social feeds, identity and social graph (followers etc). So for example you can have a discussion about a particular NFT on NFTz, where you can mint, display and sell NFT’s. The NFT can also have a social feed with likes, microtips and comments. The social feed will show up in other Deso dapps. You don’t have to login again to other Deso dapps since they share the identity.

There are also ways of monetizing popularity or influence with creator coins. So, you can invest in creators who you think have a lot of potential, or buy your own coins to push up the price. This social platform is more mature than most of the other ones, and most of the important elements are in place like NFTz market that also does streaming music NFT’s, streaming music and video apps, online video (like a decentralized zoom), blogging platforms, group conversations etc.

The deso blockchain has a lot of features planned, and is moving to “proof of stake” consensus in the new year. According to the stats, Deso has the most adoption for Web3 social media which makes sense since they are the oldest and they don’t limit users with required invitations.

Polygon/Lens, Opensea etc.

Most people are familiar with the polygon sidechain, if you have used Defi for example. It uses the Ethereum EVM, and Matic tokens for gas. This is the platform on which Aave has chosen to build Lens. You will need an invitation, and the Metamask wallet to onboard. Your identity will be minted as an NFT. The UI is pretty nice and reminds me of tumblr. The various dapps are compose-able with one another and share social feeds, identity and social graph. There is a rudimentary NFT platform called Lensport, but you will have to use Opensea to mint your NFT’s. You can also monetize posts by selling the content as NFT’s. There is an interesting dapp on the Gallerydao which makes it easy to create NFT’s with some Dall-E AI themes and then allows you to mint them directly. There is a good aggregator of music NFT’s called Ooh La La, which will also work with many other EVM platforms. There is also a youtube like video platform, and various other dapps for mobile and desktop. They all share common feeds. Lens has some good integration partners on polygon, and I have heard some talk of them moving to the new polygon ZKEVM platform for further scalability.

Solana/Solcial, Magic Eden etc

Solcial came out recently, and is already gaining a good following. The UI is very nice, and it is pretty easy to use, especially if you are familiar with Solana. The chain is fast, inexpensive and there is a lot of development going on. The social feeds are pretty straight forward. You can chose who to follow, you can vote posts up and down, it shows you popular posts etc. You also get to monetize contributions with a creator coin, and tier 2 access level . Each user can create and sell premium content, which can be blog posts or free NFT’s for example. The profile section will allow you to mint NFT’s directly to the blockchain, and they will show up on Magic Eden NFT market. But you have to get permission from Magic Eden to list them for sale. There are many improvements planned for the new year. There aren’t many integrated dapps yet, but I expect them to partner up with other solana dapps and developers, like NFT markets, gaming etc.

Near/Near.social, Paras etc.

The Near chain is pretty fast and inexpensive. It also has a sister EVM chain called Aurora. There are 2 social dapps on native Near. One is called Myriad and the other is near.social. Near users will find them both pretty easy to use. The second one is newer, and I have been spending more time with that one. You can mint NFT’s on Paras, and they will show up on the Near blockchain and near.social. The social feed is similar to the one on solcial, but not as extensive yet. There isn’t a lot of content yet, but I expect it come as more people find out about it.

Web2/Twitter/Mask

Twitter has been losing a lot of users since Musk took over, but I won’t get into the politics of censorship and the like. Suffice it to say that they still have a lot of users, and its a pretty good platform despite all the complaints. They may be able to resolve the current problems and turn it around. In the mean time Mask.io has various “nextgen” features like Web3 wallet support, NFT support, encrypted direct messages, Mask profile/ID, fundraising, token swapping, decentralized file storage, fiat on-ramp, decentralized governance etc.

Web2/Post.news

A very easy to use and well designed twitter replacement, but it does have a waitlist and requires an invitation. It does have tipping for content. But it is centralized, and there doesn’t seem to be a lot of info available about how it works on the back-end, governance, and plans for the future, like web3 support etc. So, it works well for people fleeing twitter, but I don’t know enough about the long term.

Web2/Meta/Instagram

Facebook (Meta) and Instagram have the same owners. They have started introducing NFT’s on Instagram in some regions and are slowly rolling it out. Facebook has been working on its metaverse platform, and I assume that it will incorporate blockchain and NFT’s in some way. In the mean time, they still have a lot of users, but many of them are looking at moving away from centralized control, lack of privacy etc. I won’t get into the controversial topics here.

Tools

app.yup.io - combines feeds form various sources (Farcaster, Lens, Mirror blogs)

Conclusion

NFT’s are a new way of monetizing culture. Here is an example of my Rockstarz collection on Opensea. Here is a similar collection of mine on NFTz. It contains a series of images of famous musicians which I created with an AI tool called Stable Diffusion: https://opensea.io/account?tab=created My intention was not to make money per se, but to see what could be done with some of the new AI tools, NFT markets and social media. The various new technologies are converging and will be more powerful than the sum of the parts when they seamlessly work together. We are already starting to see 3D virtual art galleries which add another new dimension.

But for now, the various platforms are only compo-sable within the same blockchain, so those barriers need to be broken down. We are going to have to see co-operation between the different Web3 platforms for truly mainstream adoption. It will also have to get less complicated to use. For example you shouldn’t have to know or worry about what an EVM (Ethereum Virtual machine) compatible chain is. This should be abstracted for the user and be simple and straight forward to onboard and use. As an analogy, when you switch from one automobile brand to another, you don’t have to know what kind of engine it is. Most people just to get into the car and drive. When it breaks down, they take it to a mechanic (technical support). Most of the tech support for now is done by the community discord forums, which is still web2 based.

There are probably too many social media alternatives right now. Between Web2 and Web3, they can’t all survive. They will be too fragmented unless they can all connect to each other. That won’t happen in the web2 world since there are proprietary interests involved. Web3 has a different business model which is community based. For now, each platform offers its own set of features, strengths, and weaknesses. Users will have to evaluate their needs and preferences and decide which platform is best for them in the short to medium term. Its hard to know now how things will play out in the long run.

In the mean time, the space is evolving very fast, and I am already getting some good value from using the dapps. I am gaining experience with AI tools and applying them to practical social situations like creating images and blogging. The content will only improve as more users join in, and the features will also improve as we attract more quality developers, and when we see more dapps that can span multiple chains, and work together.

Personally I prefer organic growth rather than hype and promotion but that is what attracts the users and the funding. From my testing and kicking the tires, I have no doubt that Web3 will be a quantum leap forward from what we have now in Web2. Its already happening. Start off with post.news , and then get your feet wet with Deso. Go down the rabbit hole. You won’t look back.

"The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn." ~ Alvin Toffler

Short Summary

NFT's are a new way to monetize culture. Platforms like Twitter and Facebook have slowly been introducing NFT's, but many users are searching for alternatives in decentralized and censorship-resistant networks. Web3 alternatives like Deso and Post.news offer NFT's and other features, but the space is fragmented and still in development. To truly maximize the potential of NFT's and Web3, platforms will have to cooperate, and work together. and support information flow.