1/ What makes NFTs on the Internet Computer different from other chains?
The inherent properties of ICP make it the only chain where NFTs can be taken to mass adoption!
Let's break it down! 👇👇
#ICP $ICP #InternetComputer #NFT
2/ On-chain hosting
The Internet Computer can host content on-chain for just 5 USD per GB per year.
"But IPFS already has decentralized storage!" -- This is true, however IPFS is a at its core a file system, meaning you cannot request files that do not exist yet
3/ On-chain hosting cont.
This makes hosting dynamic content on IPFS extremely difficult requiring workarounds and inefficient processes
The IC isn't a file system it's a computer! So content can be easily generated on demand! Totally new to the blockchain space!
4/ Selective mutability
Contracts on the IC are mutable by default, this is a new concept to web 3 & it is a double edged sword
Users need to know who controls the canisters, which is not the case on other chains, but with transparency the benefits are huge!
5/ Selective mutability cont.
No longer do developers need to migrate contracts to upgrade, code can be DAO controlled, you could even set up a multi-canister architecture where some parts are immutable and others not!
Web3 will be dynamic!
6/ Reverse gas model
Contracts are preloaded w/ cycles (computation) & it is used on demand as needed
This is the driver will bring users from Web2 to Web3! It should not cost you money to do something as simple as list or transfer your digital assets
7/ Reverse gas model cont..
Who pays for gas & when is totally up to the devs.
E.g. You could require gas to be payed by users via 1 time payment when you sign up for the app OR include it as a fee during specific interactions but not others!
8/ Tech focused community
This benefit is the result of all you! The Internet Computer attracts more tech focused individuals than any other chain, while this isn't a hard technical advantage it should not be overlooked!
Great tech only works when great minds build upon it!
9/ This list isn't totally comprehensive and applies to more than just NFTs!
We would love to hear from you all what aspects of the IC will take Web3 to the masses!
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