NFT
In an effort “to strengthen the standard” of latest non-fungible token (NFT) initiatives, the Solana Basis is inviting aspiring creators to pitch the corporate their concept for profile-picture collections.
The competitors, dubbed the “NFT Showdown,” is supposed to encourage artists to plan complete enterprise plans aimed toward creating collections that supply “real-world utility” for the style, leisure and gaming industries, amongst others.
“The NFT Showdown is designed to encourage a shift in the way in which NFT manufacturers design their enterprise plans previous to launching,” Austin Federa, Solana Basis’s head of technique, mentioned in a press release. “Tasks ought to take into account what it’ll take to attain long run success as an NFT model.”
Whereas Ethereum has lengthy dominated the NFT area because the blockchain of selection for prime collections, rival chains like Solana have been gaining floor.
With a submission window slated for early June, the ten contest winners can be awarded with direct help from Solana. This may primarily embrace in depth steering from Solana and trade consultants on methods to obtain “long-term success,” the muse mentioned in a press release.
Magic Eden, an NFT market recognized partly for dealing with buying and selling for Solana-based collections, mentioned it absolutely helps the competitors. “For the final 18 months, we’ve got supported Solana creators getting into the area and collaborated with a whole lot of initiatives who’ve bought out on Magic Eden,” mentioned Tiffany Huang, head of selling on the NFT market. “This initiative is about getting new faces and concepts into the ecosystem, and we’re excited to see how we are able to play our position to develop the ecosystem.”
