Combining the Power of Ethereum's Art NFT's and HIVE.

in OCD4 years ago

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Sparked by some chats with @acidyo and poking by @rootdraws and @juliakponsford, I've recently been going through the rigorous and kind of annoying process of getting on some of these Ethereum based art NFT platforms. Specifically started with SuperRare and MakersPlace.

@acidyo has a really cool idea that I wanted to share with you all. Special thanks to @hiddenblade from acid for doing some of the research and work to understand these sites better.

Also full disclosure, something like this would greatly benefit OCA, so I'm of course a bit bias in favor of this idea, but I digress...

It goes something like this...

The way these sites work is they allow you to mint tokens associated with a piece of artwork. Then that artwork can be sold, traded, etc, as a unique digital thing. People richer than me have been storing their wealth in artwork for millenia and with the advent of blockchain tech, this can now be done digitally. I think the concept holds a lot of promise.

Now this is the user behavior we're seeing now. Lots of Hivers are on these platforms selling their art. They also post the artwork here on Hive where they have a better platform to talk about the work, the process, or whatever other information they want to share. So the thinking is, why not combine these two value propositions under one umbrella on a Hive based interface. Still leveraging the Ethereum NFT minting, but using Hive for the sharing and marketing of the artwork.

I know that us crypto peeps can be very tribal, with "Our blockchain is the BEST blockchain!" narratives, but from the end users perspective, I think they couldn't care less about what blockchain something is on. They care about the features and the value it adds to their lives. I think something like this would make for something truly useful to a lot of people and I think utility, is one of the major paths to success.

So to be specific, this is about a Hive dapp/frontend or integration into a current hive dapp/frontend where users can, on the same platform, post and share artwork AND sell that artwork in the form of an NFT for ETH. So on the first pass, they earn Hive in the form of upvotes and tips, and they earn ETH via the selling of their work.

This also could increase demand for post promotion in the future, as the different artists will want to get an edge on the competition and make sure their work gets seen for potential buyers. There are a lot of rabbit holes my mind goes down with different potential.

This idea + OCA

So I can't remember how much of the long term vision I've shared publicly about OCA, but this fits right in. My long term vision for OCA is a lot bigger than something like a subreddit on Hive for art. I think Hive Communities have the potential to grow into powerful tools to be leveraged by businesses.

I won't go into all the details in this post, but also having an NFT marketplace where artists can sell their work is not only a good fit, I think it's going to have to be a must for what I'm ultimately planning.

So if it's not clear, I really like this idea. What do you all think? Is this something you'd like to see? Let me know in the comments.

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Plans for the Cryptovoxels port / Colony DAO of this idea:
https://peakd.com/@rootdraws/top-secret

Would be great to find out a way to buy NFTs with HIVE on opensea and sell NFTs for ETH on HIVE. Or, to create a HIVE NFT market.

I'm also into splinterlands variants or contributing to that pool of art or some type of thing.

NFT art is great, but also creating art assets which are turned into blockchain games, which have an evergreenish income flow into a multi-sig wallet shared by the creators / artists.

I totally agree that HIVE ought to be business home base for creatives, and that they ought to find a way to supplement income outside of // In addition to HIVE earnings.

We can create NFT's on a side chain on Hive, but not on the main chain. This is what Steem/Hive Engine has already accomplished. There's definitely some downsides to it.

Having a place to display our ETH NFTs on HIVE or related to HIVE somehow would be excellent :D Ultimately I would love to be able to mint on hive as well but I am unsure if technically we have the correct capabilities to code in secondary sales and other features that ETH has. Aggroed has alreasy made NFT on steem-engine and I guess hive-engine now but the image quality is too low for the moment, they are looking for alternative image hosting ideas which is always a struggle with these kinds of projects.

I think it would be better to port superrare to HIVE (with SMT). Ethereum is too unreliable and does not scale

As far as I know SMT's wouldn't support this functionality. SMT's won't be able to do much outside of what Hive already does.

But you wouldn't need to use the SMT as an NFT. You could use it as "shares" in the artwork. Issue a different SMT for every artwork. if someone buys 50% of the supply, then he owns 50% of the artwork.

I think the scaling issues will be resolved when eth 2.0 goes live.

I think peakmonsters.com is a great example of a functional NFT market place with Bid and Ask orders. In my opinion the NFT development on HIVE is more advanced than on Ethereum and I wonder why people still paying fees on opensea market trades when there is HIVE with fee-less transactions.

Great idea.
All the same, the HIVE society is more focused on consumption, this idea will give people what they want so much by starting their way as an author on HIVE an additional opportunity to earn money.

I am delighted, I’ll go preparing for the flight ...

mXkfdToSwHy1F6xC7iNSf4gD4njuiH2THIVEJnH2d9a7sjEgsxpt7CEU4CCztgbsbw7wMB2UHkdi7W465FGEQ4AYvUUdrVBTAaG19PaRwWxVj.gif

Check out @xstern93, the first Token been backed up by real work industrial design art products.
Founded on #STEEM and steem-engine, coming to the hive-engine also soon.

I really liked the idea. let's get going.

If we just had SMTs you could just ICO the artwork with a new SMT, but yeah shit takes time.

I also read the recent Root piece, and love these concepts. I will be happy to help in any way I might be needed: (writing, editing, cross-posting, creating art, etc. I am already in the NFT game and would be happy to share my experiences.) Let me know!

So far I love me the basic concept of this. But Splinterlands already have proven that a successful NFT market can be created on top of Hive, I do agree that end users finally don't care too much about the blockchain on which the NFT is sold (provided they can cash out) but I think that Hive tech is just, faster, feeless and scale better that Ethereum.

It seems like a good idea. Bold, but interesting.

A bit difficult for me to understand but so far, I love the format of HIVE and I see the big potential of HIVE because of the people around of it especially the witnesses.

Considering the good energy that can be felt here in Hive and the talented creators that can be seen for example on OnChainArt I think that what you propose is very very interesting.
I don't know how I could help but I'm here for anything!

The way these sites work is they allow you to mint tokens associated with a piece of artwork. Then that artwork can be sold, traded, etc, as a unique digital thing.

This sounds like a pretty great idea! I'm not entirely understanding of how this works, but it's kind of like a stamp or signature for a piece of artwork, right? Sort of digital copyright which entitles one person to buy artwork from the artist? If so, this could be a great deal for HIVE. Since there's a lot of talented creators around here, it's worthwhile to adapt the platform for some sort of merchandising/enterprising for folk to sell their creations :-)