Why Omnichain #NFTs would be next big thing?
First omnichain nfts launched approximately 36 hours ago and got lots of attention. Achived great volume on opensea and floor rised up to 0’9 $ETH even it was a free to mint; @gh0stlygh0sts .
Let’s deep dive into it. 🧵
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First omnichain nfts launched approximately 36 hours ago and got lots of attention. Achived great volume on opensea and floor rised up to 0’9 $ETH even it was a free to mint; @gh0stlygh0sts .
Let’s deep dive into it. 🧵
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U may heard Omnichain/Omniverse from @cobie at first but i’m sure u heard lots of staffs about NFT bridge for a while. It was possible to bridge nfts before but the method is not smooth. So this brings to another question; what is changed?
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U may heard Omnichain/Omniverse from @cobie at first but i’m sure u heard lots of staffs about NFT bridge for a while. It was possible to bridge nfts before but the method is not smooth. So this brings to another question; what is changed?
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https://twitter.com/cobie/status/1509358458373808129
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The old methods basically mirroring ur nft metadata to destination chain. It was more like a synthetic asset like $ETH to $WETH.
Something came up recently to change this. @LayerZero_Labs an Omnichain Interoprability Protocol.
medium.com/layerzero-offi…
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The old methods basically mirroring ur nft metadata to destination chain. It was more like a synthetic asset like $ETH to $WETH.
Something came up recently to change this. @LayerZero_Labs an Omnichain Interoprability Protocol.
medium.com/layerzero-offi…
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They have a great vision actually. @VitalikButerin thinks future is multichain, not cross chain. However we need cross chain cominication as users to interact different chains. Cross chain communication has some cons with their mentality.
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They have a great vision actually. @VitalikButerin thinks future is multichain, not cross chain. However we need cross chain cominication as users to interact different chains. Cross chain communication has some cons with their mentality.
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https://twitter.com/vitalikbuterin/status/1479501366192132099
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Cross-chain bridges mostly works like this; protocol locks ur asset on x chain and mint/realese synthetic assets on destination chain. This process has some vulnerabilities in itself and we seen lots of protocols rekt because of this.
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Cross-chain bridges mostly works like this; protocol locks ur asset on x chain and mint/realese synthetic assets on destination chain. This process has some vulnerabilities in itself and we seen lots of protocols rekt because of this.
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@LayerZero_Labs wants to change this with their unique omnichain interprobability protocol. Basicaly, protocol makes possible to communicate chains between them. We can deep dive that on another thread but u can check this article by @PrimordialAA
medium.com/layerzero-offi…
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@LayerZero_Labs wants to change this with their unique omnichain interprobability protocol. Basicaly, protocol makes possible to communicate chains between them. We can deep dive that on another thread but u can check this article by @PrimordialAA
medium.com/layerzero-offi…
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Fist dapp on L0 launched on 17 March; @StargateFinance. With Stargate we all experienced how the omnichain works smoothly. Protocol allows users to transfer “native” assets between chains and opened another level of blockchain communication.
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Fist dapp on L0 launched on 17 March; @StargateFinance. With Stargate we all experienced how the omnichain works smoothly. Protocol allows users to transfer “native” assets between chains and opened another level of blockchain communication.
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https://twitter.com/StargateFinance/status/1504483564972240908
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I want to give more info about Stargate if u don’t know it yet. They want to release their token $STG in two step.
1- Public Auction;
They sold 100M $STG tokens at $0,25 with 1 year lock and 6 months vesting schedule.
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I want to give more info about Stargate if u don’t know it yet. They want to release their token $STG in two step.
1- Public Auction;
They sold 100M $STG tokens at $0,25 with 1 year lock and 6 months vesting schedule.
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https://twitter.com/PrimordialAA/status/1503723758846193671
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However it didn’t go to the public. All tokens bought in a single block with 2 transactions.
*This is not good for a public auction. They can make limits for each wallet to prevent that.
After a while we learned @AlamedaResearch bought all of those tokens.
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However it didn’t go to the public. All tokens bought in a single block with 2 transactions.
*This is not good for a public auction. They can make limits for each wallet to prevent that.
After a while we learned @AlamedaResearch bought all of those tokens.
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https://twitter.com/alamedatrabucco/status/1506306851142615044
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@AlamedaTrabucco released a thread why they did this and what re gonna do next. They promised not selling tokens for 3 years at least and they re not gonna manipulate governance in the future. Yeah, u heard right by the way. There will be a governance with $veSTG format «α»
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@AlamedaTrabucco released a thread why they did this and what re gonna do next. They promised not selling tokens for 3 years at least and they re not gonna manipulate governance in the future. Yeah, u heard right by the way. There will be a governance with $veSTG format «α»
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https://twitter.com/alamedatrabucco/status/1506306854825119748
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There is a Turkish thread of mine about why they did these and how re gonna profit in future.
*tip; via not selling those tokens.
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There is a Turkish thread of mine about why they did these and how re gonna profit in future.
*tip; via not selling those tokens.
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https://twitter.com/tervelix/status/1506398386399891457
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Anyway, second method was bonding and i also attended that sale. Bought some tokens at $0,7ish.
@StargateFinance realesed another news about they re gonna make another community auction for the people who pre-approved on auction and attended to bonding at ss time.
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Anyway, second method was bonding and i also attended that sale. Bought some tokens at $0,7ish.
@StargateFinance realesed another news about they re gonna make another community auction for the people who pre-approved on auction and attended to bonding at ss time.
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https://twitter.com/StargateFinance/status/1506337289772933130
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People and i liked that idea and bought all of my spot too.
Why am i gonna telling those? I want to show how the @LayerZero_Labs is bullish and wants to inform people about @StargateFinance with pros and cons at that period.
U need to know ecosystem first to earn from it.
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People and i liked that idea and bought all of my spot too.
Why am i gonna telling those? I want to show how the @LayerZero_Labs is bullish and wants to inform people about @StargateFinance with pros and cons at that period.
U need to know ecosystem first to earn from it.
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Let’s get back to #omnichain Nfts. We can deep dive l0 and stargate later.
U learned how it different to bridge on l0 rather than basic cross chain bridges. What about nfts? How this feature would help #NFT devs and communities?
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Let’s get back to #omnichain Nfts. We can deep dive l0 and stargate later.
U learned how it different to bridge on l0 rather than basic cross chain bridges. What about nfts? How this feature would help #NFT devs and communities?
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When i saw the @cobie’s tweets, I directly thoght about @RagnarokMeta !
Let’s give an example with them.
They wants to build a nft based game on blockchain. But which blockchain? There re more than one possible blockchains to launch a nft project. Hard to decide right?
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When i saw the @cobie’s tweets, I directly thoght about @RagnarokMeta !
Let’s give an example with them.
They wants to build a nft based game on blockchain. But which blockchain? There re more than one possible blockchains to launch a nft project. Hard to decide right?
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Ragnarök (and possibly more collections) wants to use every opportunities for each chains. There re basically 2 criteria for them as they want to release a “NFT” project as a “GAME”.
1- Community
2-Fees
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Ragnarök (and possibly more collections) wants to use every opportunities for each chains. There re basically 2 criteria for them as they want to release a “NFT” project as a “GAME”.
1- Community
2-Fees
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#Ethereum is the absolute winner for community part however when the context came for the game part users needs to make lots of tx and signs on the blockchain for an on-chain game.
It would be terrible to launch it on mainnet for a game if u want reach to lots of players.
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#Ethereum is the absolute winner for community part however when the context came for the game part users needs to make lots of tx and signs on the blockchain for an on-chain game.
It would be terrible to launch it on mainnet for a game if u want reach to lots of players.
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What re the other possibilities?
-U can launch a game on L2/rollup rather than mainnet. However those option would be so complicated for a team and for the users too. There re more process to go for L2’s to reach more people for now.
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What re the other possibilities?
-U can launch a game on L2/rollup rather than mainnet. However those option would be so complicated for a team and for the users too. There re more process to go for L2’s to reach more people for now.
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-Wait for the “merge” and assume fees gonna lower.
Meh, lots of assume for a game to launch in april. There re more times to merge.
-Launch on a sidechain like Ronin?
We saw how the bridge get rekt. Sidechains not as much as secure like mainnet s u know.
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-Wait for the “merge” and assume fees gonna lower.
Meh, lots of assume for a game to launch in april. There re more times to merge.
-Launch on a sidechain like Ronin?
We saw how the bridge get rekt. Sidechains not as much as secure like mainnet s u know.
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-Launch on EVM compatible L1.
We alredy seen how @DefiKingdoms achived lots of atraction on #HarmonyONE and @PlayCrabada on #Avalanche.
Those two samples showed us u can run a game on L1 and reach more players.
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-Launch on EVM compatible L1.
We alredy seen how @DefiKingdoms achived lots of atraction on #HarmonyONE and @PlayCrabada on #Avalanche.
Those two samples showed us u can run a game on L1 and reach more players.
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Let’s consider #HarmonyONE first. #DFK did a great job on Harmony and has a first mover advantage on there. However there re always problems in blockchain side. Harmony can not run smoothly under of lots of tx pressure. People trying to change rpcs to interact with the game.
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Let’s consider #HarmonyONE first. #DFK did a great job on Harmony and has a first mover advantage on there. However there re always problems in blockchain side. Harmony can not run smoothly under of lots of tx pressure. People trying to change rpcs to interact with the game.
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Those thinks re bad specially for UX. They expanded to #Avalanche with subnet for the same reason as #DFKsubnet.
(Fck i need to explain subnets too but it would be so long)
Anyway, it’s not a well play to launch on Harmony.
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Those thinks re bad specially for UX. They expanded to #Avalanche with subnet for the same reason as #DFKsubnet.
(Fck i need to explain subnets too but it would be so long)
Anyway, it’s not a well play to launch on Harmony.
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Second option of Ragnarök was #Avalanche.
@PlayCrabada has approximately 20% of all of the gass fee consumption on Avalanche. Network has more than 800K tx per day and fees re reasonable ($1-1,5). They got great attention and moving extremely sure in their road.
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Second option of Ragnarök was #Avalanche.
@PlayCrabada has approximately 20% of all of the gass fee consumption on Avalanche. Network has more than 800K tx per day and fees re reasonable ($1-1,5). They got great attention and moving extremely sure in their road.
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Consensus mechanism makes the #Avalanche unique at first but not just that.
@avalabsofficial’s actual aim is the horizontal scaling and they re gonna do that with #subnets. We already seen 3 testnet for subnets and #DFKchain in mainnet.
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Consensus mechanism makes the #Avalanche unique at first but not just that.
@avalabsofficial’s actual aim is the horizontal scaling and they re gonna do that with #subnets. We already seen 3 testnet for subnets and #DFKchain in mainnet.
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They work smoothly. @PlayCrabada released their subnet as testnet and it was also great. They postponed mainnet to later because @avalabsofficial building a subnetEVM. Yep, u heard it right. They want to launch with subnetEVM.
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They work smoothly. @PlayCrabada released their subnet as testnet and it was also great. They postponed mainnet to later because @avalabsofficial building a subnetEVM. Yep, u heard it right. They want to launch with subnetEVM.
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Also, there is an incentive for subnets. Multiverse. #Avalanche wants to make possible that dapps can run on their blockchain without burdening to mainnet.
In #DFK example, they have more than 200K tx, running by Avalanche validators and give none burdens to mainnet.
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Also, there is an incentive for subnets. Multiverse. #Avalanche wants to make possible that dapps can run on their blockchain without burdening to mainnet.
In #DFK example, they have more than 200K tx, running by Avalanche validators and give none burdens to mainnet.
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https://twitter.com/el33th4xor/status/1501263471496761345
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Ok, let’s keep things oin the context. I just want to show u that different blockchains has different opportunities for teams, dapps, communities.
For the same reason @RagnarokMeta wants to launch their #Nfts on #Ethereum but the game on #Avalanche
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Ok, let’s keep things oin the context. I just want to show u that different blockchains has different opportunities for teams, dapps, communities.
For the same reason @RagnarokMeta wants to launch their #Nfts on #Ethereum but the game on #Avalanche
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They was going to do that with something like nft bridge but i think they also wants to use omnichain space with @LayerZero_Labs. Because, it’s better to keep ur original assets rather than the synthetic one.
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They was going to do that with something like nft bridge but i think they also wants to use omnichain space with @LayerZero_Labs. Because, it’s better to keep ur original assets rather than the synthetic one.
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This is just one example of omnichain nfts. Now u can think further. There definitely would be an omnichain Nft market thanks to @LayerZero_Labs.
@joepegnft, @cryptofishx u definetly needs to thinks this mates.
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This is just one example of omnichain nfts. Now u can think further. There definitely would be an omnichain Nft market thanks to @LayerZero_Labs.
@joepegnft, @cryptofishx u definetly needs to thinks this mates.
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Nft project gonna wants to possiblity of using every chain for their exposure. They don’t wants to stack in a ghost chain while there is a great demand on other chains. They don’t wants to stuck with gas fees or lack of ux because of their bad chose in the beginning too.
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Nft project gonna wants to possiblity of using every chain for their exposure. They don’t wants to stack in a ghost chain while there is a great demand on other chains. They don’t wants to stuck with gas fees or lack of ux because of their bad chose in the beginning too.
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They re gonna wants flexibility of omnichain.
Thanks to @gh0stlygh0sts. They showed lots of people this can work.
Done for now but i love to sharing those kind pf staffs IYI.
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They re gonna wants flexibility of omnichain.
Thanks to @gh0stlygh0sts. They showed lots of people this can work.
Done for now but i love to sharing those kind pf staffs IYI.
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Last of all i want to give a shot @PrimordialAA for giving the alpha however I didnt aped the free mint (by bad) and @layerzerointern for his great thread. Definetly, u wants to follow them.
Last of all i want to give a shot @PrimordialAA for giving the alpha however I didnt aped the free mint (by bad) and @layerzerointern for his great thread. Definetly, u wants to follow them.
https://twitter.com/layerzerointern/status/1511082947108954116
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