I would add that the ideal NFT marketplace would have robust support for physicals, including one or more escrow / appraisal services for physical items.
Disclaimer, I built their new protocol, so I am a bit biased.
I think they will be open sourcing it once it's final audit is complete and they've switched over from the previous implementation. It fits the bill of being something others could build upon easily as well as sporting a deep integration of physicals.
In that new protocol, the purchase of an NFT with a physical yields a ticket which can be flipped on secondary markets if that's someone's prerogative. When a holder claims the ticket, it's burned, a proof-of-ownership NFT is transferred to the holder, and the shipping process is kicked off.
Scaling that to *lots* of marketplaces operating with physical NFTs, it opens up the possibility of a market for escrow and appraisal services, since that's a logistical bottleneck for the marketplace operator. If they only have a single headquarters, then physicals have to be shipped there from all over the world. In a system where there are many service providers available, the piece could be shipped to the nearest one.
As such, the protocol has a special role for escrow agents, who can do things like start an auction on behalf of a seller once they have the physical piece in custody and appraised.
This is def very cool, I need to take a closer look at Seen.Haus, admittedly I haven't done so before. On my radar now, thanks for sharing these great insights Cliff. I do think this is quite a compelling and unprecedented system, keen to watch it play out
Not sure if this rises to the level of "pillar," but support for different media types besides images - audio files, video files, audio streams, video streams, dynamic gaming/metaverse assets (whatever that entails). Both on the collector/user side and the creator side. For example, creators could have a single dashboard that would allow them to choose which type of media for which they are creating an NFT - protocols and smart contracts would be abstracted away by the dashboard app. Collectors/consumers would have "media type" filters on their marketplace dashboards.
One thing I'd love to see is the option of carbon-offsetting NFTs. A marketplace could be built on Toucan Protocol or support current marketplaces to support carbon offsetting by bridging on Toucan.
I would love to see a Rent-a-Runway for NFTs where people like me who cannot afford to buy NFTs, can rent them and showcase them in our digital studios or use them as profile pics.
One should be able to rent for a day, a week, a month, a quarter or more. Once the rental period is done, it will automatically returned to the owner.
What a set of pillars! Love it. We're building our marketplace on Polygon and feel this is the optimal blockchain to solve the issue of mass market adoption. Low transaction fees and lower price points on NFTs (than Ethereum) set Polygon up as the the perfect gateway drug. We will match the level and familiarity of an ecommerce user journey for the non-crypto savvy customer. Enabling them to purchase in just a few clicks with credit/debit and into a custodial wallet. No sense in making a person that is interested but new to the space jump over a bunch of unfamiliar high hurdles to buy something they don't know much about. After their purchase we can begin to educate them on wallets, decentralization and the wonderful world of NFTs. We know custodial wallets are frowned upon by the savvy but feel this is a necessary if non-crypto savvy customers are to have an initial seamless experience. Check out what we're building! https://twitter.com/0fficialnft
The airdrop is playing a key role in which market place people are joining. Some are deceptive so research is key. Just as BTC was followed by many currencies opensea will always be first in my opinion. But please do the research and don't just join so you don't miss some airdrop that seems great at the time. Stay true and be safe is step 1
I would add that the ideal NFT marketplace would have robust support for physicals, including one or more escrow / appraisal services for physical items.
Really good idea Cliff, that possibility hadn't even occurred to me prior!
Seen.Haus are doing a good job with this angle.
Disclaimer, I built their new protocol, so I am a bit biased.
I think they will be open sourcing it once it's final audit is complete and they've switched over from the previous implementation. It fits the bill of being something others could build upon easily as well as sporting a deep integration of physicals.
In that new protocol, the purchase of an NFT with a physical yields a ticket which can be flipped on secondary markets if that's someone's prerogative. When a holder claims the ticket, it's burned, a proof-of-ownership NFT is transferred to the holder, and the shipping process is kicked off.
Scaling that to *lots* of marketplaces operating with physical NFTs, it opens up the possibility of a market for escrow and appraisal services, since that's a logistical bottleneck for the marketplace operator. If they only have a single headquarters, then physicals have to be shipped there from all over the world. In a system where there are many service providers available, the piece could be shipped to the nearest one.
As such, the protocol has a special role for escrow agents, who can do things like start an auction on behalf of a seller once they have the physical piece in custody and appraised.
This is def very cool, I need to take a closer look at Seen.Haus, admittedly I haven't done so before. On my radar now, thanks for sharing these great insights Cliff. I do think this is quite a compelling and unprecedented system, keen to watch it play out
Not sure if this rises to the level of "pillar," but support for different media types besides images - audio files, video files, audio streams, video streams, dynamic gaming/metaverse assets (whatever that entails). Both on the collector/user side and the creator side. For example, creators could have a single dashboard that would allow them to choose which type of media for which they are creating an NFT - protocols and smart contracts would be abstracted away by the dashboard app. Collectors/consumers would have "media type" filters on their marketplace dashboards.
Really great point, something I def missed in this write-up! I absolutely agree that supporting a wide array of file types is ideal
Great article and food for thought.
One thing I'd love to see is the option of carbon-offsetting NFTs. A marketplace could be built on Toucan Protocol or support current marketplaces to support carbon offsetting by bridging on Toucan.
Love the list. thank you!
I would love to see a Rent-a-Runway for NFTs where people like me who cannot afford to buy NFTs, can rent them and showcase them in our digital studios or use them as profile pics.
One should be able to rent for a day, a week, a month, a quarter or more. Once the rental period is done, it will automatically returned to the owner.
Two projects I'm aware of that are working in this category are:
https://nftfi.com/
https://dapp.renft.io/
What a set of pillars! Love it. We're building our marketplace on Polygon and feel this is the optimal blockchain to solve the issue of mass market adoption. Low transaction fees and lower price points on NFTs (than Ethereum) set Polygon up as the the perfect gateway drug. We will match the level and familiarity of an ecommerce user journey for the non-crypto savvy customer. Enabling them to purchase in just a few clicks with credit/debit and into a custodial wallet. No sense in making a person that is interested but new to the space jump over a bunch of unfamiliar high hurdles to buy something they don't know much about. After their purchase we can begin to educate them on wallets, decentralization and the wonderful world of NFTs. We know custodial wallets are frowned upon by the savvy but feel this is a necessary if non-crypto savvy customers are to have an initial seamless experience. Check out what we're building! https://twitter.com/0fficialnft
The airdrop is playing a key role in which market place people are joining. Some are deceptive so research is key. Just as BTC was followed by many currencies opensea will always be first in my opinion. But please do the research and don't just join so you don't miss some airdrop that seems great at the time. Stay true and be safe is step 1
check this article, if u curious about crypto payment , it might help u https://www.investopedia.com/tech/bitcoin-payment-services-introduction/