2021: Year of NFT Protocol
January 6, 2021 Weekly Update
The excitement is palpable at team NFT Protocol. It’s a new year, Ethereum is on fire, and we’re nearing the alpha launch of our NFT DEX.
We spent the second half of 2020 putting together the strategy, team and infrastructure to become the mainstream decentralized platform for NFT’s.
Here’s what we achieved:
2020: A Summary
Aug 2020: Rebranded as NFT Protocol and relaunched our utility token as $NFT. Refocused the project to create protocol-layer tools for the NFT sector, which has rapidly grown into a $350 million+ industry from zero in 2016.
Sep-Dec 2020: Built a rockstar developer team around Joseph Fiscella, a cryptocurrency OG and lead developer of FLO Blockchain (2013) which is used by Caltech. Includes John D. Storey as a lead Web3 developer, ex-Consensys/ Wayfair.
Sep 2020: Launched community governance which successfully resulted in multiple proposals, leading to the development of a staking program that was proposed by long-standing community member IrishLlama.
Nov 2020: Launched our first staking program that filled 90% of the 7.5 million token stake in under 24 hours.
Oct-Dec 2020: Added and accelerated an NFT DEX into our product roadmap. Planned, designed and started development of Web3 and NFT swap smart contracts.
NFT DEX Update
The development team continues to work on the DEX’s NFT swap feature.
For permanent linking to both sell and buy orders, the URL parameters become an important part of the user experience and for future proofing. Our working thought is that it will include the following, all of which are optional:
The above is what is needed to fulfill our first trading pair or our major 3 protocols:
721 <=> 20
After this functionality we will expand into a versatile and modular way to handle transactions between all 3 of standards we will support:
721 <=> 721
1155 <=> 721
1155 <=> 20
1155 <=> 1155
In tandem with our NFT DEX development, we’re working with Blockparty, the first third-party application that will utilize NFT Protocol, to design the integration that will power their re-sale market. Once launched the DEX will quickly be able to benefit from traffic from Blockparty’s built-in NFT audience.
We will soon commence “Collectible Drops” for community members in accordance with the community proposal that was voted on and passed in September 2020.
We are aware of several entities external to Blockparty/NFT Protocol looking to add substantial liquidity to the $NFT Uniswap liquidity pool.
We’re pleased to have added Jake Cox to the team as our Community Manager. He’s a Blockparty/NFT Protocol OG and has substantial experience developing crypto communities. Jake hit the ground running in the first week of January and his addition to the team will expand Blockparty/NFT Protocol’s footprint deeper into the cryptosphere and beyond.
It’s great to have you all with us!
Please visit us in the following ways for more information:
Info and docs: www.nft.org