The Smart NFT
Smart NFTs creating a revolution in content distribution.
NFTs or Non-Fungible Tokens have the potential to revolutionize the way artists, musicians and game-developers distribute content. NFTs differ from traditional blockchain tokens like bitcoin because they are individually unique, rare and authentic. These characteristics make NFTs attractive to collectors as they can represent various forms of media for example:
- Digital artwork
- An in game item
- Crypto collectibles
- Exclusive music releases
- A ticket to an event
- Land Titles
Smart NFTs build on this concept and take things to the next level by adding properties like time based access or infusion of assets inside the NFT. At this years PAX online gaming conference GOATi Entertainment debuted the worlds first time based NFT.
This NFT gave conference attendees one week only exclusive gaming access to a demo of their forthcoming title “22 Racing Series”. A real time strategy (RTS) game built upon real simulated physics. These hyper racers use future vehicle technologies, bringing gamers a racing experience like none other. The cars are actually multi layer smart NFTs consisting of 25 individual NFTs that combine to create a hyper racer capable of speeds of up to 1,000+km/h.
Those in attendance were blown away by GOATi Entertainments’ advanced smart NFT technology. This type of tech could have far reaching implications. Imagine if this type of timed release content distribution became standard for other types of content such as music and movies. Giving fans a sneak peek behind the scenes look at their favorite artists latest creations could be very exciting to consumers.
Another example of smartNFT technology is the infusion of other assets inside of an NFT. Vincent Geneste, creator of the first cross-chain NFT marketplace GhostMarket.io, has recently added an on demand NFT mint shop. This has pushed the boundaries of NFT technology by allowing artists and developers the ability to create NFTs infused with other digital assets such as Ethereum, KCAL or SOUL. In addition, these NFTs can also be infused inside of one another similar to how the old fashion nested Russian doll toys work. Furthermore, these infused NFTs can also then be burned in order to acquire the embedded contents.
The smart NFTs being minted on Ghostmarket.io are unique in that they are able to hold both ROM and RAM data. This allows artists and developers the ability to program their NFTs to pay them a percentage automatically each time someone uses or sells their creations. This gives artists the ability to create and control their intellectual property in perpetuity.
This next generation of NFT development is made possible due in large part to the power of the Phantasma blockchain. Phantasma has improved upon the limitations of legacy blockchains by building their blockchain from the ground up. The chain includes features like NFT minting, oracles, storage, email and chat natively on chain. This has not only allowed Phantasma to deliver next generation technology, but to also overcome the high cost of minting NFTs and being able to store them on chain and IPFS at an extremely low cost to customers.
Phantasma chain is able to mint smart NFTs on demand for less than $0.05 cents per mint due to NFT minting being a native feature of their blockchain. Their network fees and system fees combined are so low an individual can mint up to 100 NFTs in a single transaction for about $5.00 total.
Now with the high cost to mint out of the way, the possibilities are endless with smart NFTs being poised to revolutionize the way we interact with our art, music and games for years to come. If you want to join the revolution check out ‘22 Racing Series’ over on Pavillion hub. Log in with your Steam account or create a new one for a truly seamless blockchain gaming user experience. Also, check out the on demand NFT mint shop at Ghostmarket.io and create and sell your own #cryptoart or music smart NFT on the marketplace.
Useful Resources
Phantasma — NFT powered gaming enabled blockchain platform: https://phantasma.info/
Pavillion Blockchain enabled Gaming Hub: https://www.pavillionhub.com/
GOATi (Greatest of all Time interactive) Game Studio: https://www.goatientertainment.com/
22 Racing Series, NFT powered RTS Racing Game: https://www.22series.com/
GhostMarket — Multi chain NFT marketplace: https://ghostmarket.io/
The Phantasma Community: https://t.me/phantasma_io
Phantasma Twitter: https://twitter.com/PhantasmaChain
22 Racing Series Discord: https://discord.gg/22racingseries
