Tag: Music NFT

If you’re an artist interested in NFT creation and deciding between Polygon and Base, both are strong Ethereum Layer 2 solutions offering low fees, scalability, and fast transactions. However, each has unique advantages and trade-offs for NFT creators. Here’s a detailed comparison to help you choose:

Polygon

Pros:

• Low/No Gas Fees: Polygon allows gas-free minting for NFTs, making it highly cost-effective for artists, especially those just starting out or planning to mint in volume.
• User-Friendly Tools: Polygon offers easy-to-use, no-code platforms for minting NFTs, supporting both ERC-721 and ERC-1155 standards. Features like unlockable content, social signatures, and even ordering physical items are available.
• Established Ecosystem: Polygon is widely integrated with major NFT marketplaces like OpenSea and has been chosen by big brands (Nike, Reddit, Starbucks) for NFT projects.
• Scalability and Speed: Transactions are processed quickly and at a fraction of Ethereum’s cost, making it ideal for creators and collectors alike.
• Interoperability: Polygon is fully compatible with Ethereum, allowing easy migration of apps and assets between the two networks.

Cons:

• Slightly Less Decentralized: Polygon is less decentralized than Ethereum itself.
• Newer Security Model: While secure, its security model is newer and still maturing compared to Ethereum’s mainnet.
• Smaller User Base than Ethereum: Polygon’s community is growing but not as large as Ethereum’s.

Base

Pros:

• High Throughput and Fast Finality: Base offers higher real-time and maximum TPS (transactions per second) than Polygon, with faster block times and quicker transaction finality.
• Very Low Fees: Like Polygon, Base enables minting and trading NFTs at minimal cost, removing the barrier of high gas fees.
• Strong Backing and Growth: Developed by Coinbase, Base is rapidly growing and attracting major brands (e.g., Coca-Cola’s NFT campaign), with a vibrant community and a focus on accessibility.
• Easy Onboarding: User-friendly platforms and no-code tools make it easy for newcomers to launch NFT collections, including generative art and open editions.
• Security: Base leverages Ethereum’s security while offering the scalability of a Layer 2 solution.

Cons:

• Newer Ecosystem: Base is newer than Polygon, so its ecosystem, while growing fast, is less mature and has fewer established NFT projects and integrations.
• Fewer Marketplace Integrations: Not all major NFT marketplaces support Base yet, though this is changing rapidly.

Comparison Table

Feature	Polygon	Base
Gas Fees	Near zero, often gas-free	Near zero, very low
Ecosystem Maturity	More established, major brands	Rapidly growing, newer
Marketplace Support	Widely supported (OpenSea, etc.)	Growing, not yet universal
User Tools	No-code, feature-rich	No-code, easy onboarding
Transaction Speed	Fast, scalable	Faster, higher throughput
Security	Ethereum-backed, maturing	Ethereum-backed, robust
Community	Large, growing	Vibrant, fast-growing

Which Should You Choose?

• Choose Polygon if:
  • You want the broadest marketplace support and integrations.
  • You value a mature, proven ecosystem with lots of resources for artists.
  • You prefer a platform already trusted by major brands and NFT projects.
• Choose Base if:
  • You want to experiment with the latest technology and benefit from higher throughput and faster transaction finality.
  • You’re interested in joining a rapidly growing, innovative community.
  • You want to leverage Coinbase’s backing and the potential for future integrations.

Bottom Line

Both Polygon and Base are excellent choices for NFT creation, offering low fees, scalability, and strong security. For most artists, Polygon offers a slightly safer and more established route with broader marketplace support and user-friendly tools. Base is an exciting, fast-growing alternative with superior transaction speed and a vibrant community, ideal if you want to be an early adopter on a rising platform.

If you’re just starting out or want maximum exposure, Polygon is likely your best bet. If you want to explore new frontiers and benefit from cutting-edge performance, Base is well worth considering.

Introduction

NFTs (Non-Fungible Tokens) have taken the world by storm, often accompanied by the belief that “digital assets last forever” and stories of new-age art selling for astronomical prices. But once you actually start minting or collecting NFTs, you might find yourself thinking, “Wait, this isn’t quite what I expected…”

In this article, I’ll share the real state of NFTs, how to enjoy them casually, and the difference in experience between issuing a single-edition NFT or multiple editions.

Are NFTs Really “Forever”?

NFTs are designed to prove unique digital ownership on the blockchain. However, what lasts forever is only the ownership certificate (the token itself).
The actual artwork image or metadata is often stored on external storage like IPFS or Arweave, which doesn’t guarantee that your NFT will always be visible or accessible.

• On IPFS, data can disappear if no one is “pinning” it.
• Arweave claims to store data for “up to 200 years,” but this depends on the network’s sustainability and economic incentives.
• Marketplace changes (like on OpenSea) can cause listings or artwork display to vanish.

In short, NFTs are not truly “forever”.

The Risks and Regrets of Expensive NFTs

During the NFT boom, high-priced NFTs made headlines. But imagine spending hundreds or thousands of dollars on an NFT, only for the artwork to disappear or the value to plummet.
You’d likely feel disappointed, maybe even cheated or regretful.

NFTs are still technically and economically unstable. High prices amplify the risk of disappointment and conflict.

Enjoying NFTs at a Casual Price

That’s why I recommend issuing and buying NFTs at a price you’re comfortable losing.

• You can collect them as keepsakes, to support creators, or as fan memorabilia.
• If the price is low, you won’t regret it, no matter what happens to the NFT’s value.
• There’s less stress and fewer disputes over money or unmet expectations.
• Creators won’t feel pressured to “maintain value” or meet investment-like demands.

NFTs are best enjoyed as “proof of uniqueness” or “digital memories” within a comfortable, casual price range.

1-of-1 vs. Multiple Editions: Which Is More Fun?

When minting NFTs, you can choose to create a 1-of-1 (single edition) or multiple editions (e.g., 20 copies). Each approach offers a different experience.

The Appeal of 1-of-1 NFTs

• Provides a sense of true uniqueness and exclusivity.
• Satisfies collectors seeking something no one else owns.
• Can foster a close relationship between creator and owner.

However…
Since NFTs and their artwork aren’t guaranteed to last forever, if your one-of-a-kind NFT disappears, the sense of loss can be even greater.

The Appeal of Multiple Editions (e.g., 20)

• Creates a sense of community and shared experience among holders.
• More fans can join in and support the creator.
• Even if the NFT or artwork disappears, the shared memories and collective experience remain.
• While not as rare as a 1-of-1, the fun and satisfaction are spread among more people.

Which Should You Choose?

• Want to enjoy NFTs with friends and build a supportive community? → Multiple Editions (e.g., 20)
• Want the thrill of owning something truly unique? → 1-of-1

Given that NFTs aren’t truly permanent, opting for multiple editions can lead to less regret and a more positive, communal experience.

Conclusion

NFTs shouldn’t be about overblown expectations of permanence or investment value.
They’re best enjoyed as tools for “support,” “commemoration,” and “connection.”

When you keep prices low, NFTs become fun mementos or tokens of support, not sources of stress or disappointment.
And if you want to maximize the joy and memories, consider issuing multiple editions so more people can join in.

NFTs can-and should-be more free, more casual, and more fun.
Let’s keep enjoying NFTs in a way that feels right for you.

Pepe (contract address: 0x6982508145454ce325ddbe47a25d4ec3d2311933) is an Ethereum-based ERC-20 token primarily used for trading and investment purposes. To create NFTs, standards such as ERC-721 or ERC-1155 are typically required. Since Pepe is not based on these standards, it cannot directly create NFTs within its ERC-20 framework.

One of the major appeals of NFTs was the creator royalty-a mechanism that enabled artists to automatically receive a percentage of secondary sales as ongoing revenue. However, due to policy shifts by major marketplaces and a new industry consensus, royalties have become “optional.” In other words, whether or not royalties are paid is now left to the discretion of buyers and sellers, and in practice, this means the system is being phased out.

Many creators and artists feel deeply disappointed, anxious, and even betrayed by this development.

Why have NFT royalties become optional?

• Since 2022, several leading marketplaces-including LooksRare, X2Y2, and Magic Eden-have announced the move to optional royalties.
• By reducing or eliminating transaction fees and royalties, these platforms aim to attract resellers and high-frequency traders, thereby boosting trading volume.
• OpenSea, the largest NFT marketplace, also shifted its policy in August 2023, making royalties optional for new collections.

The emptiness of losing what was supposed to be a “good thing” about NFTs

In the early days of NFTs, the ability to automate royalty payments through blockchain smart contracts was hailed as a revolutionary innovation-something not possible in traditional art or music industries.

• Creators could earn ongoing revenue from secondary sales
• Transparency and automation were guaranteed
• A new model for the creator economy was born

Yet, these values have been quickly overturned by market competition and the pursuit of greater user numbers-a shift in consensus that has left many creators behind.

Impact on creators and community reactions

• As the foundation of their revenue model is shaken, more creators are questioning the meaning of NFTs and the ideals of Web3.
• Independent and small-scale artists are especially hard-hit by the loss of reliable royalty income.
• On the other hand, some marketplaces like Rarible and Nifty Gateway continue to uphold royalty protections.

So, where do the “goodness” and “ideals” of NFTs really lie?

While the technical structure of NFTs may be immutable, their value and rules are heavily influenced by social consensus and economic logic. Mechanisms once believed to be the “good part” of NFTs can be easily changed by shifts in the industry or the times.

The ideals of NFTs remain unsettled. It’s up to creators and the community to keep questioning and seeking systems that everyone can truly accept.

Here’s the differences between NFT, Edition, and Drop on foundation.app:

NFT (Single NFT)

• Definition: A unique digital artwork or item minted on the blockchain.
• Quantity: Only one exists for each NFT; it’s one-of-a-kind.
• Ownership: Only one owner at a time.
• Usage: Artists can create collections and add individual NFTs, each with its own artwork and details.
• Pricing: Each NFT can have its own price and sale method (auction, buy now, etc.).
• Best for: One-of-one artworks or pieces where uniqueness is important.

Edition

• Definition: Multiple NFTs of the exact same artwork, minted as a series (e.g., 100 identical NFTs).
• Quantity: Set by the creator (e.g., 10, 100, 500, etc.).
• Artwork: All Editions share the same image or file.
• Types:
  • Timed Edition: Minting is open for a limited time.
  • Limited Edition: Minting is open until a set quantity is reached.
• Pricing: All Editions are sold at the same fixed price.
• Minting: After deploying the Edition contract, collectors can mint as many as they want until the limit or deadline.
• Best for: When you want to offer the same artwork to multiple collectors, but keep it limited.

Drop

• Definition: A large-scale release of a collection, allowing up to 10,000 NFTs at once.
• Quantity: Up to 10,000 NFTs per Drop.
• Artwork: Each NFT in a Drop can have different art or attributes (often used for generative or profile picture projects).
• Reveal: NFTs may initially show a placeholder image, with the real art revealed later.
• Pricing: Can be fixed price or Dutch auction (price decreases over time).
• Minting: Collectors mint NFTs directly from the Drop page; the collection size is fixed and cannot be expanded later.
• Best for: Large projects with many unique pieces, such as generative art or PFP collections.

Comparison Table

Feature	NFT (Single)	Edition	Drop
Artwork	Unique per NFT	All Editions identical	Each NFT can be different
Quantity	1 per NFT	Multiple (fixed)	Up to 10,000
Price	Individually set	Fixed for all	Fixed or Dutch auction
Minting	By creator	By collectors	By collectors
Add more later	Yes	No	No

Key Points

• NFT: Unique, one-of-one artwork.
• Edition: Multiple identical NFTs of the same artwork, limited by time or quantity.
• Drop: Large-scale release, often with unique art for each NFT, ideal for big projects.

Use each format according to your project’s needs-whether you want to release a single unique piece, a limited run of the same work, or a massive collection with many variations.

When creating an NFT on Rarible, whether to choose “Single” or “Multiple” depends on your goals, the type of art, and your audience. Here are key considerations:

Single Edition (1/1)

• Uniqueness and Value: A single-edition NFT is one-of-a-kind, making it more exclusive and potentially more valuable. This is ideal for rare or premium artworks.
• Target Audience: Best suited for collectors who value exclusivity or if you are an established artist aiming to enhance the perceived value of your work.
• Limitations: Limits your potential buyers to one, which may reduce exposure compared to multiple editions.

Multiple Editions

• Accessibility and Reach: Creating multiple editions allows more people to own a piece of your work, increasing accessibility and visibility.
• Scalability: Suitable for collectibles or series where having multiple owners is desirable. It works well for building a community around your art.
• Rarity Trade-off: The more copies you mint, the less rare each becomes, which could impact perceived value.

Recommendations

• If you are a new artist looking to build a reputation, minting multiple editions (e.g., limited runs like 10 copies) can help distribute your work widely while maintaining some exclusivity.
• If you are an established artist or want to emphasize rarity, a single edition is preferable.
• For collectibles or PFP (profile picture) projects, higher edition numbers or open editions might be better suited.

Ultimately, the choice should align with your artistic goals and the preferences of your target audience. Experimenting with both options can help determine what works best for your style and market.

The future of the NFT market is a mix of positive and negative factors. Below is a breakdown of both perspectives:

Positive Factors

• Technological Innovation and Improved Usability:
  NFT technology continues to evolve, with improvements such as reduced gas fees and enhanced security. Its growing utility in sectors like gaming, memberships, and digital art is particularly noteworthy.
• Corporate and Brand Adoption:
  Global companies and brands are actively launching NFT projects. NFTs tied to existing intellectual property (IP) show stable demand and align well with fan communities.
• Integration with the Web3 Ecosystem:
  As a key component of Web3, NFTs are increasingly integrated with the metaverse and decentralized finance (DeFi), creating new opportunities for value generation.

Negative Factors

• Speculative Image and Value Instability:
  After the bubble burst, many NFTs lost value, leading to decreased trust in the market. The speculative nature of many purchases makes mass adoption challenging.
• Regulatory Uncertainty:
  While discussions on regulations are underway globally, the lack of clear rules poses risks for investors and businesses.
• Environmental Concerns and Technical Barriers:
  High energy consumption has drawn criticism, particularly from environmentally conscious groups. Additionally, challenges like creating wallets or purchasing cryptocurrencies remain significant hurdles for general users.

Conclusion

The NFT market is transitioning from the post-bubble phase toward maturity. While some projects demonstrate clear growth potential and utility, the market as a whole still faces many challenges. A cautious approach is necessary before adopting an optimistic outlook on its future.

When creating an NFT on Rarible, here are your options and their purposes:

1. Create an NFT: This is the most basic option for minting a single or multiple NFTs (ERC-721 or ERC-1155). You can upload your artwork, set metadata (e.g., title, description, royalties), and mint it directly onto the blockchain. This is ideal for individual pieces or small projects.
2. Create a Collection: Collections act as folders for organizing multiple NFTs under a unified theme or brand. By default, NFTs are minted under the “Rarible Collection,” but you can create your own custom collection for better branding. This is recommended after gaining some experience and selling a few NFTs because creating a custom collection incurs additional gas fees.
3. Create a Marketplace: This advanced feature allows you to build a custom NFT marketplace for your community or project. It is suitable for creators or organizations looking to establish a unique platform tailored to their needs.

Recommendation:

• Start by creating an NFT under the default “Rarible Collection.”
• Once you gain traction, consider creating your own collection for better visibility and branding.
• Creating a marketplace is only necessary if you have a larger-scale project requiring its own ecosystem.

Dogechain is not part of Dogecoin’s official infrastructure. Here are the reasons:

Relationship with the Dogecoin Project

Dogechain is an independent blockchain designed to expand the Dogecoin ecosystem. It was neither developed nor officially approved by the Dogecoin project team.

Purpose and Functionality

Dogechain aims to provide functionalities such as smart contracts, NFTs, and DeFi, which are not natively available on Dogecoin. It achieves this by converting Dogecoin into “Wrapped Dogecoin (wDOGE)” for usage within its network.

Official Denial

The Dogecoin team has explicitly denied any direct relationship with Dogechain, treating it as an unofficial layer-2 solution. This distinction highlights that Dogechain operates independently.

Conclusion

While Dogechain complements the Dogecoin ecosystem by offering additional features, it remains a separate project and is not part of Dogecoin’s official infrastructure.

The discontinuation of OpenSea’s lazy minting tool on October 3, 2023, has introduced several limitations for creators relying on this feature. While NFTs created through lazy minting are still accessible and can theoretically be bought, sold, and transferred, there are specific challenges that users may encounter when attempting to list or sell them.

Why Your Lazy-Minted NFTs May Not Be Listing Properly

1. Lazy Minting Is No Longer Supported: OpenSea replaced lazy minting with OpenSea Studio. As a result, while existing lazy-minted NFTs remain on the blockchain, they are now part of a legacy system. This could lead to inconsistencies in how these items function on the platform, including issues with visibility or listing.
2. Blockchain Status of Lazy-Minted NFTs: Lazy-minted NFTs are not fully minted on the blockchain until a sale or transfer occurs. This means they might not always behave like standard minted NFTs, potentially causing problems during listing or sale attempts.
3. Platform Changes: OpenSea has shifted its focus to on-chain minting via independent contracts. This transition deprioritizes lazy-minted items, which may contribute to technical issues when interacting with these assets.

Can You Still Sell Lazy-Minted NFTs?

Yes, but with caveats:

• Sales Are Theoretically Possible: OpenSea has stated that existing lazy-minted items can still be bought, sold, and transferred. However, I have issues with listing these items successfully.
• No Edits Allowed: Lazy-minted NFTs cannot be edited anymore. This includes changes to metadata or other properties.

Troubleshooting Listing Issues

If you tried listing your lazy-minted NFT and it says it was listed but doesn’t appear:

1. Refresh Metadata: Navigate to the NFT’s page on OpenSea and click “Refresh Metadata” to ensure the item is updated.
2. Verify Wallet Connection: Ensure you’re logged into OpenSea with the correct wallet that holds the NFT.
3. Check Blockchain Status: Use a blockchain explorer (e.g., Etherscan or PolygonScan) to confirm the NFT’s existence and status.
4. Contact OpenSea Support: If the issue persists, reach out to OpenSea’s support team for clarification.

Alternatives and Next Steps

If selling your lazy-minted NFT proves too challenging:

• Consider transferring it to another wallet or platform that supports it better.
• Explore minting new NFTs using OpenSea Studio or other platforms that offer full on-chain minting for improved functionality.

Ultimately, while lazy-minted NFTs are still functional in theory, their integration into OpenSea’s current ecosystem may present practical difficulties for creators and sellers.