[ad_1]
TL;DR
Earlier this week, Magic Eden (the Solana NFT market) introduced it was supporting ‘compressed NFTs.’
Mainly, they’re NFTs which can be 2,400-24,000x cheaper than conventional NFTs due to their metadata (the picture, title and outline) being saved off-chain.
Whereas it could actually undoubtedly cut back prices and due to this fact turn out to be extra engaging for large gamers eager to enter the house, it does take away the entire promoting level of ‘digital permanence.’
Full Story
Ever heard of compressed NFTs?
Yeah, neither.
However earlier this week, Magic Eden (the Solana NFT market) introduced it was supporting them.
So, what are they precisely?
Mainly, they’re NFTs which can be 2,400-24,000x cheaper than conventional NFTs due to their metadata (the picture, title and outline) being saved off-chain.
(And if it is not being saved on a blockchain, there ain’t any on-chain storage charges).
The end result? Customers can create a boat-load of NFTs for pennies on the greenback.
So what are among the use circumstances? Suppose:
Gaming firms who wish to use NFTs as in-game property for tens of millions of gamers
Music festivals who wish to promote tens of millions of tickets as NFTs
Conventional firms who wish to monitor merchandise throughout provide chains
Our tackle this?
Whereas it could actually undoubtedly cut back prices and due to this fact turn out to be extra engaging for large gamers eager to enter the house, it does take away the entire promoting level of ‘digital permanence.’
It is like getting a sandwich with no filling – technically it is nonetheless a sandwich, but it surely’s simply not the identical.
So, yeah, we’re comfortable it‘s an possibility, however we’re not dashing to make use of it.
We like our NFTs with all their metadata completely intact, thanks very a lot.
[ad_2]
Source link
