The Onchain Spectrum
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 🌐 Trump's digital real estate. On the heels of the former president's sons teasing work on an "official" Trump crypto project, Eric Trump confirmed in a new interview that the mysterious effort is related to digital real estate.
- 👻 Meet Geist. The Aavegotchi game just revealed Geist, a "members-only" Arbitrum Orbit Layer 3 (L3) network designed with anti-sybil measures and loyalty rewards in mind.
- 🎈 Arthur Hayes's Ordinals collection. The BitMEX founder is teaming up with Oyl Wallet to release Airhead, a Bitcoin-themed Ordinals collection that uses recursive inscriptions for dynamic visuals.
IPFS is a peer-to-peer network for sharing data. It's a popular choice for underpinning NFT metadata, and if used properly it offers strong redundancy and availability assurances.
But what happens when it's used improperly?
In the worst case scenario, the associated art becomes unavailable, and the NFTs become mere tokens. We've seen this before with platforms like Ascribe, Digital Objects, Editional, and even FTX.
More recently, this week NFT sleuths discovered that nearly 30,000 NFTs from eBay's shuttered KnownOrigins marketplace—including iconic XCOPY works—rely on an outdated Infura link in their IPFS implementations, jeopardizing the availability of their art going forward.
That said, there is no right or wrong storage approach per se—it's more about determining sufficiency on a case-by-case basis.
Yet as an NFT adventurer yourself, it's incredibly important to understand the overall basics of storage so you can navigate the nuances here and make informed collecting decisions.
Toward that end, let's walk through a quick refresher of the onchain spectrum as it stands today on Ethereum, Bitcoin, and Solana! 👇
Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.
This week crypto multiplayer suite Party added an awesome new feature to its create.party.app minting platform: Sets.
The new resource offers an extremely streamlined experience for setting up an NFT drop on Base with three different rarities, i.e. Common (60%), Rare (30%), and Epic (10%).
As you can see from the picture above, I just did a test run with my own release, and it took me about 1 minute to set up and create once I had my media ready. Reveals after minting are instant, too, which is always nice.
Lately, I've seen more than a few people saying they long for the fun of collecting NFTs back in 2021, so one reason I like Sets is because its rarity mechanism brings some of that luck-of-the-draw fun back in a slick, updated form.
If you do end up trying this new feature with your own drop, let me know—I'm good for a mint!