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Tezos: The public chain saved by NFT

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Why did Tezos change its low-key image this year with cryptographic art and NFT?

Article: 0x13, BlockBeats

With the wave of new public links, the name Tezos is being mentioned again.

The price of public chain tokens such as Solana and Avalanche has repeatedly hit new highs and attracted the attention of the market, while Tezos is much more low-key. Although the price of tokens has also risen to within a step of the all-time high, Tezos is still a strange name to new players.

Remember, Tezos is also a pioneer in Staking, and used to be a champion in the crypto world.

In September 2014, Tezos's white paper was released and was funded by Tim Drapper and the Winklevoss brothers. In 2017, three years after the white paper was published, Tezos raised tokens and in just two weeks raised 65,000 BTC and 360,000 ETH, about $230 million. The amount raised is unprecedented in the history of cryptocurrencies.

The company's biggest label is money. According to a report released by the Tezos Foundation in January, the total value of assets held by the foundation is $1.176 billion, including $600 million in bitcoin. If they hadn't sold bitcoin during that time, their holdings would now be close to $900 million.

Unfortunately, the operation of Tezos is not as high-profile as Solana and Avalanche. After the PoS boom in 2019, this former industry leader has little voice, even DeFi Summer failed to bring Tezos.

But with NFT, Tezos is starting to look different.

As NFT goes mainstream and more and more people flock to the field, crypto, which exploded the NFT scene in March, is once again back in the minority, with total crypto market value dropping to one-sixth of its March peak in June. This has not changed until recently, as a lot of money has poured into the NFT sector, some of it has gone from the NFT trendy collectables market to the crypto market, and with the boom of Art Blocks, more and more people are starting to pay attention to crypto.

However, while the crypto art market on Ethereum is struggling and crypto art on BSC and other public chains is not getting attention during this period, the crypto art market on Tezos has always maintained a rising trend, with more and more people participating in it, and its voice in social media is also getting bigger and bigger.

So why did Tezos change its low-key image this year with crypto art and NFT? Let's start with the most well-known crypto art platform on Tezos, Hic Et Nunc.

Hic Et Nunc was born in March 2021, and the name is often confusing at first. The platform's twitter name, HicetNunc2000, looks like a string of gibberish, or at least not in English. In fact, Hic Et Nunc is Latin for "here and now". The name itself is artistic and philosophical, which is a good name for a crypto art platform. The platform is usually called HEN, an acronym for Hic Et Nunc.

So why is the platform so popular?

First, from the perspective of environmental protection, Tezos focuses on the concept of eco-friendly blockchain. While the question of whether Ethereum NFT has a negative impact on the environment is debatable, it is an important factor in deciding whether or not to enter the crypto art field for artists outside the circle. There have been many traditional artists and art platforms considering entering the NFT field before, but they were opposed and resisted by a large number of fans due to environmental reasons.

Second, Tezos chain Gas costs are extremely low. Ethereum's high Gas fees have been criticized as a barrier to entry for artists. While platforms like OpenSea offer free casting for artists, artists use these features to cast NFT through OpenSea's contract rather than deploying a contract of their own. And for collectors, it will also save a lot of costs for them.

Third, HEN makes people see the diversity of crypto art categories. Before, the concept of cryptographic art was still confined to a picture, a video, and an audio clip. However, in HEN, cryptographic art works can be scalable vector graphics, 3D modeling, electronic documents, web pages, programs, etc., which greatly broaden the boundaries of cryptographic art. For people to bring more rich encryption art world.

Fourth, HEN's community is very united. Because of HEN's geeky nature, most of the artists who initially published on the platform were the best in algorithmic generative Art, and many of them have since been approved by Art Blocks and released a series of works. The group of artists originally came from the same circle and helped each other on HEN's new platform, and this trend has continued to the present day. Although the works on HEN are no longer limited to generative works, artists and collectors have always maintained a good and close relationship.

Fifth, and in some ways the most attractive, the art on HEN is cheap. "Some works can sell for thousands of dollars at SuperRare, but they only cost a few dollars at HEN, and some of them are even free," says A lot of HEN collectors.

Moreover, most artists who sell their works on HEN will set their works to multiple editions with extremely low prices for each edition. In the eyes of some collectors, this phenomenon is not only a "collection" behavior of buying high-quality works of art at a low price, but more like a "reward" behavior of artists sharing their works and others giving praise to them. HEN, a crypto art platform, has become a "social platform without conventional social functions".

However, there are some problems with HEN.

HEN does not review artists, so there are some copycats and porters on the platform, which is also a common problem of OpenSea, Rarible and other open platforms. Therefore, you need to pay attention to whether the account is bound to social media when purchasing, and verify the identity of the artist before purchasing.

Another issue is user experience. It's not easy to say whether HEN is a good or bad user experience. Some people love it and some people are not used to it. Indeed, for those of you who are used to OpenSea's search, filtering, sorting, and other functions, HEN's page and features are too simple. The show page is a simple waterfall, and there is not even an option to separate the primary market from the secondary market. In addition, many people are confused about titles and names such as OBJKT when they first use them. (Note: OBJKT stands for Object, which refers to the NFT on HEN platform.) This, combined with the fact that Tezos can't confirm a transaction as quickly as Polygon or Solana, and can't send a second transaction until one is confirmed, makes for a poor user experience.

But overall, the NFT ecosystem on the Tezos public chain is gradually becoming prosperous and complete, and indeed injecting fresh life into the whole NFT field. Tezos has great potential and great room for development in the future. Currently, in addition to HEN, Tezos also has a number of cryptographic art platforms and supporting tools to help users get a better experience. We summarize them as follows.

Crypto Art Platform

objkt.com

Objkt.com has a smoother user experience, and the overall layout is more similar to That of Rarible. On the home page, there are different sections such as recommendation of rotating works, top buyers/sellers, NFT series collectibles, latest casting, latest shelves, etc. In addition, works can be selected and sorted, and there are also functions such as bidding, auction, and switching dark mode.

Henext

Henext's layout is similar to That of Instagram. On the home page, you can see the NFT works with the top sales of this day and this week, and on the personal home page, you can see your sold works, the number of remaining editions, collected works and secondary sales, etc.

HAF

The home page function of HAF is very simple but very practical, it will automatically update the latest casting NFT and the latest NFT on the shelf, and in the personal home page, in addition to viewing the individual sale and collection of art works, you can also see the valuation and yield of personal collections, but the valuation here is simply calculated from the floor price, which needs to be improved.

NFT Button

NFT Button, a generic NFT trading platform, aims to sell NFT through both traditional and experimental means, the latter known as the Buttonist Auction. On top of that, people will be able to get discounts on mortgage NFT.

Kalamint

Kalamint is a approved crypto art platform. Creators who want to sell their works on Kalamint need to submit an application. In addition, Kalamint also provides collection collection sales function and lucky draw function.

ByteBlock

ByteBlock is an uncensored crypto art platform that allows users to create collections of their own.

Bazaar

Users can cast NFT on the platform or filter NFT according to the price range.

OneOf

Music NFT trading platform, works can be sold to choose ONEOF, DIAMOND, PLATIUM, GOLD, GREEN five levels, each level has different rights and interests.

Form a complete set of tools

Fukkrs.gallery

Tezzardz is a rare search site for the current Tezos chain head NFT collection.

Nftbiker.xyz

The website provides a variety of information retrieval tools for collectors, artists, ordinary users and interactive participants.

Artcentral.io

You can query the historical selling price K-chart, floor price, reasonable price and market price of a specific work on encryption art platforms such as Nifty Gateway and HEN.

glry.xyz

Real-time market updates, including NFT casting, price changes, etc.

hicdex

You can query the sales of users' works and collections. You can also query the specific NFT and historical prices according to the number. You can also query the HEN market overview, etc.