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Although there were rumors of Arbitrum issuing a currency last year after another Layer 2 leader Optimism issued a currency, it ultimately failed to materialize. Now that such news has been released again under the "Maverick" market, user sentiment is obviously even higher. Affected by this, other projects in the Arbitrum ecosystem that have issued coins have increased significantly and become the center of community discussion.

Before introducing the projects in the Arbitrum ecosystem, let me briefly introduce the Arbitrum project itself and why its currency issuance can cause such a huge FOMO sentiment in the market.

Arbitrum is Ethereum’s Layer 2 expansion solution. It emerged to solve the problems of high gas fees and network congestion faced by Ethereum. Layer2 is the collective name for Ethereum expansion solutions. Among all current Layer2 projects, Arbitrum ranks first with a locked-up amount of US$1.46 billion. Its main competitor Optimism has a locked-up amount of US$80 million; and it is different from other mainstream public chains. In comparison, Arbitrum is also second only to Ethereum, BSC and Tron, and better than the established Polygon, Avalanche and Solana.

What is POAP?

POAP stands for Proof of Attendance Protocol, which means Proof of Attendance Protocol. It is an ERC721 standard NFT protocol.

POAP is positioned to create a way to record life experiences using blockchain. As long as the event party supports POAP, POAP collectors can receive a unique NFT badge on the blockchain as a souvenir after participating in the event.

These NFT badges can demonstrate a user's attendance at an event, whether in the virtual world or in the real world. Each badge is unique, and generally speaking, the only way to obtain POAP is to attend a specific event.

Introduction

Blur’s royalty system is different from most mainstream NFT markets in that traders can set their own royalties, meaning that if traders do not pay royalties, the original author will not receive any income from the secondary sale of the NFT.

However, Blur is also trying to get traders to voluntarily pay royalties through incentive programs to strive for more income for creators. For example, those traders who pay higher royalty rates are able to receive more airdrop tokens.

Blur founder Pacman recently published an article on Mirror, introducing the latest royalty policy of the Blur platform. He also called on OpenSea to lift restrictions on Blur so that NFT projects can earn full royalties on both platforms, which is the current NFT Find better solutions to royalty-related issues.

TwitFi is a social-focused X to Earn game that allows players to earn money by tweeting on social media. To put it simply, users purchase NFT in the game and then use the Twitter account bound to the address to tweet. Each time they tweet, they will be rewarded with the platform token TWT.

This article mainly starts from the product and operation level to analyze how the TwitFi project found a breakthrough in the GameFi track to attract attention, how to quickly acquire seed users in the early stage, and how to extend the project in terms of product design when facing the X2E "death spiral" problem. life cycle.

What are Open Edition NFTs?

Open Edition (OE) NFT, Open Edition NFT, refers to the NFT series that allows users to have unlimited Mint within a limited time. These NFTs have no difference except the Token ID, and are common in the issuance of NFT artworks.

The concept of Open Edition actually comes from traditional art. Simply put, an unlimited number of prints and sales of a work created by an artist are called Open Edition, also called Infinite Edition.

OE NFT is slightly different. OE NFT generally limits the Mint time, that is, unlimited Mint can only be used within a specified time, and it will stop after the time is exceeded, so the Open Edition will eventually have a quantity upper limit.

Introduction to Programmable NFTs

Programmable NFT means programmable NFT, which refers to NFT that can be updated after casting.

Programmable NFT stores the metadata of the NFT in a variable format, and the instructions and conditions for metadata changes are encoded in the NFT smart contract in advance. Metadata can be updated manually by the owner or based on conditions set in the smart contract.

About metadata

NFTs are essentially made up of two components: TokenID and metadata.

TokenID is a unique identifier that represents ownership of the NFT, and metadata is the object associated with the NFT. TokenID ensures that the ownership of the NFT can be verified; while the content of the metadata ensures the functionality of the NFT.

#NFT

1. Contract selection

Contract standards are a set of rules you follow when creating NFTs. NFTs issued based on different contract standards will have different features and functions.

The following are several common NFT contract standards:

(1) ERC721

The most common NFT contract standard, ERC721, emphasizes the uniqueness of NFT, that is, one Token ID corresponds to only one NFT.

(2) ERC721A

The ERC721 optimization protocol was proposed by the blue-chip project Azuki. Its main function is to reduce the gas fees required by users to mint NFTs. It is suitable for situations where a large number of addresses mint NFTs at the same time or the same address mints multiple NFTs, which can reduce gas costs for users by 50%-70%.

If you search for the definition of blockchain games on Google, Wikipedia will tell you that blockchain games (also known as NFT games) are electronic games based on blockchain technology; and according to data from Dapp analysis website DappRadar , the current top ten blockchain game players have more than 1 million players, and the in-game assets exceed 2 billion US dollars. These games also use NFT without exception.

In fact, in the early stages of blockchain game development, games and NFT were not inseparable. For example, the earliest blockchain game Satoshi Dice appeared in 2012. At that time, there was not even the concept of NFT. Even in 2018, when NFT had appeared, EOS When on-chain games became popular, almost no projects used NFTs as in-game assets. But why do blockchain games seem to be increasingly inseparable from NFTs as they develop to this day?

Recently, under the influence of coin issuance expectations, the Layer2 project Arbitrum ecosystem has become one of the biggest hotspots of market attention.

Although there were rumors of Arbitrum issuing coins after Optimism, another Layer 2 leader, issued coins last year, but it ultimately failed to materialize, now that such news has been released again under the "Mavericks" market, user sentiment is obviously even higher. Influenced by this, other projects in the Arbitrum ecosystem that have issued coins have all seen a significant increase, becoming the center of community discussion.

Before introducing the projects in the Arbitrum ecosystem, let me first briefly introduce the Arbitrum project itself and why its coin issuance can cause such a great FOMO sentiment in the market.

On January 12, Yuga Labs announced the third phase of the BAYC storyline game Dookey Dash, which mainly introduced the application rules for the game’s Sewer Pass, as well as the game’s launch time and specific gameplay.

Yuga Labs will open the casting of Sewer Pass (sewer pass) for free to all BAYC or MAYC holders on January 17th, and then launch Dookey Dash on January 18th, and the game will be closed on February 8th. Previously, users with passes could play unlimited times, but Sewer Passes that have been verified on February 15th will be eligible to be converted into a new form of NFT (specific use not disclosed).

One of the direct impacts of the rapid development of NFT is the emergence of a large number of NFT trading platforms.

According to statistics, the transaction volume of OpenSea, the world's largest trading market, reached 14 billion U.S. dollars in 2021, and the profit from handling fees alone was as high as 280 million U.S. dollars. This is why so many projects are vying to seize this game. road.

NFT trading platforms generally refer to places used to store, display, and trade NFTs. Some platforms also provide users with the ability to create or mint NFTs by themselves.

For most people, the first thing that comes to mind when mentioning the NFT trading market is OpenSea. In terms of the number of users and transaction volume, OpenSea is indeed the well-deserved hegemon in the current market. Although many competitors have challenged OpenSea for a long time, they seem to be unable to shake OpenSea's market position.

What is the value of NFTs? I believe this is the biggest question in the minds of many new users who are new to NFT.

From a technical level, NFT has the scarcity and non-tamperability given to it by blockchain technology. Scarcity means that each NFT is unique and cannot be copied even by the creator himself; non-tamperability ensures the authenticity and verifiability of the NFT's copyright, allowing people to verify the authenticity of the NFT at any time based on blockchain technology. Fake.

In addition, NFT is also a digital certificate of an asset, which can guarantee the holder’s ownership of the NFT corresponding asset.

The emergence of NFT enables us to tokenize any valuable thing and trace the ownership of the asset, realizing the intersection of information and value, forming a new form of value carrying. This gives NFT a very broad application scenario. The most mainstream NFT application at the moment is personal social avatars, which are often referred to as PFP NFTs, followed by digital artworks, in addition to chained game props and land, etc.

This article will introduce several common NFT types.

profile picture

Profile Picture, referred to as PFP, profile picture, this type of NFT is also called avatar NFT, and is currently the most widely used category of NFT applications.

Before introducing the various protocols of NFT, let’s briefly introduce the ERC and numbers in the names of ERC-721 and ERC-1155.

ERC is the abbreviation of Ethereum Request for Comments and represents Ethereum’s formalized proposals. It is a formal proposal passed by EIP (Ethereum Improvement Proposals) after various deliberations and tests by the Ethereum development team. The number after the proposal represents the proposal number. For example, ERC-721 represents Proposal No. 721, and the same goes for other proposal numbers.

ERC-721

The most common NFT protocol, compared with ERC-20 tokens, the biggest difference is indivisibility and uniqueness, and the minimum unit is 1. From CryptoKitty to BAYC, Punks, and Doodles are all issued based on the ERC-721 protocol.

NFT 101 is a series of NFT popular science articles planned by BlockManiaDAO. We hope to use popular and simple words to allow novice users to better understand all aspects of NFT.

Basic concepts of NFT

The full name of NFT is Non Fungible Token, which means non-fungible token. It is a digital asset with unique and mutually non-fungible properties. Each NFT has a unique and unique identity, which is not interchangeable in pairs. The minimum unit is 1 and is indivisible.

The concept opposite to NFT is called Fungible Token. The biggest difference between the two is whether it can be replaced.

In the past two days, the Internet at home and abroad has set off a craze for posting chat records, and the chat partners are all the same "person", an AI robot that can chat, write copy, type code, and draw pictures - ChatGPT.

ChatGPT is the latest generation of conversational robots developed by OpenAI, an American artificial intelligence research institution. Compared with previous AI software, ChatGPT is far more intelligent than people expect. When users input questions in any field, ChatGPT can basically answer fluently, and The logic is self-consistent, and there is almost no trace of AI in the content, which has attracted a lot of netizens to "tune" it.