Post
Topic
Board Development & Technical Discussion
Merits 9 from 2 users
Re: Can't NFTs work on Bitcoin?
by
swiftapp
on 20/12/2021, 21:14:17 UTC
⭐ Merited by nutildah (8) ,Pmalek (1)



I meant a marketplace/explorer for NFTs on the Bitcoin blockchain like OpenSea or Rarible.
Impressed there isn't one.


There is one, https://xchain.io/ works very well and is designed well for NFT's. The concept of burning XCP to mint tokens creates a good economic system. A direct clone of OpenSea would be anti-bitcoin in terms of values and ideals imo. Counterparty doesn't charge fees for sales on tokens, tx fees are low, and the ability to transact in either bitcoin or tokens is fairly simple which is exactly how a NFT platform for artwork/memes should work. Claiming that "xyz" was a "NFT" by partial definition, NOT intention, is comical though, i.e. colored coins, twitter eggs. People created tokenized memes on counterparty with the full intention of using them as a store of value. Gaming NFT's may be a stretch on counterparty, but I wouldn't dismiss the potential completely. There are already simple sites that can reference your login address and the tokens owned by that address, but its fairly obvious that Solana is suited for gaming NFT's. Rare pepes were the first quasi decentralized NFT project with user curation, following the narrative of what bitcoin use to represent. That narrative is probably long gone though and consumed by the institutionalization of bitcoin. Gaming NFT's should have a completely separate distinction and label to represent them as an asset/token class. Without considering gaming nft's, every other NFT platform is objectively inferior to XCP. Are the others more monetized and hyped? Most definitely. XCP doesn't even trade on Coinbase and its a fairly old stable and reputable project, as well as being below the initial price to mint XCP tokens. Fairly sad to see the environment in crypto where it is at the moment. Rarepepe's were/are the pinnacle of bitcoin, NFT's, and crypto, they actually gave the people that made bitcoin be successful a way to monetize something that was fair and contributed value to bitcoin. Value to bitcoin that now every project leeches from hour by hour and day by day. XCP's position in the crypto system really brings to light the nature of the crypto community, they became the same people that they claimed to detest and want to detach from.