Continuing the discussion from NIP Proposer Season 1 Submission Guideline:
Telegram: @bigboyguy
Mail: robmorris10000@gmail.com
Discord: @pjmofficial
BRIEF PERSONAL INTRODUCTION
I’ve been around the crypto industry for years and all I can say is, “It can always get better”, I’m a trader, airdropper and a farmer as well as an NFT hunter, I engage myself in Defi Knowledge and NFTs as well as other aspects of web3, I’ve tested several protocols and participated in several projects testnet and I have vast knowledge on how they all work.
LITTLE SUMMARY ABOUT THE NIP
The NIP focuses on how NFT can be of more usecase in Real and Digital World, some obstacles that are affecting the adoption of NFTs and how they can be addressed.
INNOVATIVENESS OF THE NIP
- In the existing NFT realm, it’s so hard to move NFT from one Chain to another, but this new proposal proposed that Mint Blockchain creates an Easy way by which NFTs can be moved within chains and also useful in all chain as the native chain.
This will help creators to reach more people at the other end of another block chain as well as helping collectors to gain more values once more people from other blockchains will come in
- In the existing NFT realm, many NFT platforms lacks good user interface and UI/UX, therefore making it hard for users to Navigate easily, I propose that Mint team work very diligently on enhancing users interface and making it a top-notch.
This will help creators designs looks more attracting and bring them more revenues as well as helping the collectors to happily view and select easily what and what they love, not mistakenly pressing a command that looks to them as the right one which is not
- NFTs are used for meetings currently although not in full potential, but NFTs can also be used to validate authenticity of a product, for instance, it can be used in real life to authenticate if a luxury goods, such as jewelries and handbags are of Good quality or from the producing factory, as many luxurious goods are being forged to fake recently.
This will help both creators and collectors to gain awareness and revenue respectively
- currently Token/coin cannot be used to make payment along with an NFT, you will have to sell the NFT first and convert it to crypto before using it to buy items, I propose that Mint block chain develop a scenario where if you are to pay $100 and you have an NFt worth $47 floor price …you can add $53 crypto to it and pay both NFT and crypto without any need of swiping the NFT…this implies that more exchanges and dex trades more NFt and accept it …
this will help creators to make more sales and makes the NFT more valuable as well as easing the collectors to make easy payments with coin/token or NFT
- currently there are some Legal issues about cryptocurrency and NFTs, Mint blockchain should work with other companies and industries to make sure Legal issues are taken off from cryptocurrencies and NFTs so as to ensure everyone comes onboard without being scared of any form of restricting regulations that will hinder them from using the full potential of the block chain …
solving this issues will help both the collectors and the creators! And the NFT market in General
MOTIVATION
It should be noted that any for of NIP that is reasonable and logical is needed at this point to help the industry as a whole, meanwhile, the points I highlighted above are essential as well, as they will enhance the use case of NFTs and also bring more adoption of the block chain and cryptocurrency in General, Enhancing the interface and UI/UX designs of platforms will also help shape many people to vast usage easily since they will find it easy to navigate through the platform
RATIONALE
Many NFT marketplaces are still difficult to navigate and are not user-friendly for non-technical users. In addition, the current wallets for storing NFTs are often clunky and not intuitive. Improving the user experience of NFT marketplaces and wallets would make it easier for more people to discover, buy, and sell NFTs. It would also help to increase the adoption of NFTs by a wider range of users, including those who are not particularly tech-savvy.
Another potential area for improvement is the use of NFTs for real-world applications. While there are already some examples of NFTs being used for real-world applications, such as digital tickets and event passes, the use cases for NFTs are still largely focused on the digital realm. One of the challenges is the lack of legal clarity around the ownership and transfer of NFTs. However, as the legal landscape surrounding NFTs becomes clearer, there is the potential for more widespread use of NFTs in the real world.
Lastly, the environmental impact of NFTs is an ongoing area of concern. While the proof-of-stake consensus mechanism used by some alternative blockchains has reduced the energy consumption of NFT minting and transactions, there is still room for improvement. For example, some projects are exploring the use of carbon offsets to offset the environmental impact of NFTs. Other projects are using green NFTs, which are minted using renewable energy sources. As the NFT ecosystem continues to grow, it will be important to explore ways to make NFTs more environmentally sustainable.
Overall, there are a number of areas where NFTs can be improved, from user experience to environmental impact. As the NFT ecosystem evolves, there is the potential for NFTs to be used in a variety of new and innovative ways. One potential application of NFTs in the real world is in the luxury goods industry. NFTs could be used to track and verify the authenticity of luxury goods, such as handbags, watches, and jewelry. This would help to combat counterfeiting and fraud in the luxury goods market.
NFTs could also be used to track the provenance of luxury goods, which would increase their value and appeal to collectors. Additionally, NFTs could be used to certify limited edition or one-of-a-kind luxury goods, giving them an additional layer of authenticity and value.
Another potential application of NFTs is in the art and collectibles market. NFTs have already been used to sell digital artworks, but they could also be used to sell and track physical artworks. For example, an NFT could be minted for a physical painting, with the NFT providing a record of the ownership of the painting. This could help to reduce the risk of art forgery and make it easier to track the provenance of artworks. NFTs could also be used to create limited edition prints of physical artworks, giving collectors a way to own a unique piece of art without having to purchase the original.
Additionally, NFTs could be used to create digital collectibles, such as virtual trading cards. These digital collectibles could have a wide range of uses, from gaming to social media applications. NFTs could also be used to create unique digital identities, which could be used for a variety of purposes, such as avatars in virtual worlds or digital signatures. Overall, the possibilities for NFTs in the real world are vast and still largely untapped.
It is also worth noting that many of these applications are still in the early stages of development. The potential uses for NFTs will likely evolve as the technology matures and more people begin to understand and use NFTs. One of the challenges facing the NFT ecosystem is the lack of interoperability between different NFT platforms and wallets. Currently, many NFT platforms are siloed, meaning that NFTs purchased on one platform cannot be transferred to another. This can make it difficult for users to fully utilize the potential of NFTs. Interoperability will be key to the growth and adoption of NFTs in the future.
Another challenge facing the NFT ecosystem is the issue of security. With the growing popularity of NFTs, there has been an increase in the number of scams and fraudulent activities related to NFTs. It is important for users to be aware of the risks associated with NFTs and to take steps to protect themselves. One way to do this is to use a reputable NFT platform and to make sure that any transactions are conducted using secure wallets. Additionally, users should be wary of phishing attempts and other scams that could compromise their NFTs. As the NFT ecosystem continues to grow, it is likely that more safeguards will be put in place to protect users.
Despite the challenges facing the NFT ecosystem, there is still significant potential for NFTs to revolutionize a wide range of industries and applications.
The art world, for example, could be transformed by NFTs, which could provide a way for artists to sell their work directly to collectors, without the need for intermediaries. In the fashion industry, NFTs could be used to authenticate and track the provenance of designer goods, reducing the risk of counterfeiting. In the gaming industry, NFTs could be used to create in-game items that are truly unique and have real-world value. Ultimately, the potential uses for NFTs are limited only by the imagination.
OPEN SOURCING
I COMMITs TO OPEN sourcing the NIP and Grant permission for developers within the Mint block chain Ecosystem to build protocols and Applications based on this NIP
2024-01-10T23:00:00Z