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Emerging NFT Infra to Follow 🔥
Discover 5 new NFT tools worth exploring!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
I’m feeling bullish.
Recently, a wave of new NFT resources have launched or started to gain traction like never before.
For today’s post, let’s walk you through a handful of these projects that I’m watching right now and that I think you should be watching too!
Promising new NFT resources to put on your radar!
🎊 Foundation Drops
tl;dr: Drops is a new way to create, or collect from, large NFT collections on Foundation.
Links: Basic overview | Longer guide | FAQ
This service lets creators deploy a smart contract to represent their drop, after which collectors can mint NFTs from a customizable mint page.
With Drops it’s possible to create up to 10,000 unique ERC721 NFTs for the price of a single mint, so it’s a more gas-efficient and cost-effective system for creators to launch large projects compared to Foundation Collections.
The collection size for Drops is fixed at the beginning of the project, unlike Collections which can be expanded over time.
Drops additionally have a fixed price for each NFT, while Collections can price each NFT differently.
Drops supports Packs, a way for collectors to mint multiple NFTs in one transaction.
The reveal and randomization process for these NFTs is unique, with a pre-reveal placeholder and a "magical moment" opening experience for holders.
tl;dr: STADIUM is a new up-and-coming onchain gaming protocol for facilitating esports communities.
Links: Website | Player Card Mint Page
STADIUM is powered by the Stadium Protocol, which is aimed at becoming an open-sourced protocol for expansively supporting onchain competitions for any game, whether casual or pro.
This system lets players launch teams and compete in events, create prize pools with NFT purchases, and flex their skills with unlockable assets.
The STADIUM experience begins with on-chain identity, which is represented by a Player Card NFT that is customizable, dynamically rendered, and the entry point to the STADIUM ecosystem.
During competitions, Player Cards are wallet-bound and not transferable until they are unlocked once again after play.
🚰 Liquid Delegate
tl;dr: Liquid Delegate is a new decentralized way to facilitate no-liquidation, no-risk NFT rentals.
Links: Announcement | Liquid Delegate Marketplace
The team behind delegate.cash just unveiled Liquid Delegate, a system for turning NFT delegation rights into tradeable NFTs.
For example: say you have the BAYC Sewer Pass but don’t want to play the associated Dookey Dash game, you could mint two-week rights to your Pass’s access powers and then sell those rights as an NFT on the Liquid Delegate Marketplace while still ultimately maintaining ownership over your Pass.
A holder can deposit their NFT into an escrow smart contract to receive an associated Liquid Delegate NFT, which they can list for sale at the price of their choosing or burn at expiry to retrieve the escrowed NFT.
Potential use cases for this new kind of delegation NFT includes trading airdrop claim rights, trialing alpha passes, selling IRL event spots, and more.
Liquid Delegate will monetize through a small creation fee, integration of the ERC-2981 royalty standard, and a royalty fee on secondary trading.
⚫ Caviar Pools
tl;dr: Caviar, a new type of NFT automated market maker (AMM), just launched its private beta to allowlisted NFT communities.
Caviar is a new gas-efficient NFT AMM protocol for NFT and ERC20 token swaps.
Instead of an orderbook system, Caviar uses liquidity pools in which traders buy and sell through and liquidity providers supply assets to.
Unlike other NFT AMMs around today, Caviar uses a “desirability classifier” to organize a collection’s NFTs into sub-pools via desirability scores, e.g. low-tier to high-tier mints.
The protocol supports NFT fractionalization via ERC20s to unlock liquidity for rarer, lower supply sub-pools.
Zooming out, every Caviar master pool has multiple independent price curves to account for an entire NFT collection's liquidity.
Caviar liquidity providers (LPs) who deposit their ETH and NFTs earn yield from the 1% fee the protocol charges on every trade, so more trading activity means more earnings.
🎷 Alto Market
tl;dr: Jazz-themed and fee-less, Alto Market is the first NFT marketplace on the young and surging EVM-compatible Canto blockchain.
Alto Market is a new NFT marketplace on the Canto L1, which is a Cosmos appchain.
For now Alto remains niche because it’s new, the Canto NFT scene is just beginning, and not many people have figured out Canto’s double bridge system yet — however, the marketplace is still starting to see its volume stats explode as more people are making their way there.
If you don’t feel confident trying Canto for yourself just yet, no worries, my upcoming Tactic Tuesday write-up will be “A Beginner’s Guide to Canto” and that’ll get you up to speed in short order!
Check out my previous write-up if you missed it: Bitcoin NFTs 🚀
William M. Peaster is a professional writer and creator of Metaversal—a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond!
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.