Stellar Lumens Blockchain recognizes that NFTs are finding place in lot of discussions even outside the realm of blockchain and cryptocurrencies.
Reportedly, “Nyan Cat and a New York Times column were sold as NFTs, each for over half a million dollars. And to top it all off, digital artist Mike Winkelmann, aka Beeple, sold an artwork for an astonishing $69 million — the third-highest auction price achieved for a living artist, after Jeff Koons and David Hockney.”
For those who are new to NFTs, they are non-fungible tokens, and they are unique digital items. NFTs represent ownership of artwork, audio, writing, in-game items, and almost anything and it serves as the unique signature identity of the product it is assigned to represent.
Stellar claims that there are advantages to issuing NFTs on Stellar. The network is designed to make asset issuance easy, affordable, and quick.
The protocol does not depend on mining to validate transactions, therefore the environmental considerations on Stellar are different from other blockchains; however, there are some unique technical challenges for Stellar.
Stellar have a roundtable discussion in identifying the unique challenges, the best way to overcome them, the current state of NFTs on Stellar with some of the key NFT players in the ecosystem who will be cover those questions and lot more.
It is well known that the Stellar Development Foundation is mission driven and they are focused on use cases like the cross-border payments. Precisely, SDF are not planning to pivot to focus on NFTs. They are in to this because they are able to see that several projects are finding NFTs interesting. And, anytime Stellar comes across a project that has scope, they discuss it and organize the knowledge base to help their ecosystem with all the information and help they will need to propel forward with the mission.
For those who interested it will be worthy to “Tune in on April 15th at 9 AM ET as we feature representatives from some of those projects as they dig into NFTs on Stellar. The panel features Fred Rezeau from Litemint, a gaming and collectibles platform on Stellar, Steve Walker from Task.io, an app that can track team and community activities with flexible ramp on/off integrations, and Tyler van der Hoeven, Ecosystem Evangelist at the Stellar Development Foundation.”
For clarity, LITEMINT, is a gaming and collectibles platform on Stellar breaks barriers and creates innovative products to connect crypto enthusiasts, collectors and gamers to unique experiences.
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