NFT
In an effort “to strengthen the standard” of recent 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 plot complete enterprise plans geared 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, stated in a press release. “Initiatives ought to think about 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 high collections, rival chains like Solana have been gaining floor.
With a submission window slated for early June, the ten contest winners might be awarded with direct assist from Solana. This may primarily embody intensive steerage from Solana and trade consultants on easy methods to obtain “long-term success,” the inspiration stated in a press release.
Magic Eden, an NFT market identified partly for dealing with buying and selling for Solana-based collections, stated it absolutely helps the competitors. “For the final 18 months, we’ve supported Solana creators coming into the area and collaborated with tons of of initiatives who’ve offered out on Magic Eden,” stated Tiffany Huang, head of promoting 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.”