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Exploring the Benefits of Smart Contracts in the Retail Industry.

by with No Comment Technology

This article provides an overview of the supply chain scenario chosen for our analysis, the architecture and technologies used for creating a blockchain network and smart contracts, and a reference implementation. Additionally, in the appendix, we assess alternative approaches and make recommendations for our implementation.

We applied our understanding of blockchain by creating a use case for a consortium network involving a supply chain. The supply chain includes four actors: Producer, Distributor, Retailer, and Customer. Transactions occur between a seller and a buyer, with the actors taking on different roles depending on the step in the process. To simplify, we focused on the relationship between the Retailer and Customer. To implement this, we created two smart contracts: one for storing items and their stock information, and one for managing the workflow of creating, accepting, canceling, and delivering orders. The latter contract also operates the Stock contract to ensure orders are valid and updates stock accordingly. We chose to use two separate contracts to maintain clear distinctions in responsibilities.

The diagram below illustrates the process when a consumer places an order with a retailer. Smart contracts are used to facilitate the operations between the two parties, with some operations accessible to the consumer and some restricted to the retailer. Notifications are sent when relevant operations are completed, allowing the consumer to track progress and the retailer to confirm and deliver the order.

If an operation fails (e.g. an item in an order has no stock), the transaction is reverted, which means all the state changes it produced are dismissed. However, the application will return a message explaining what went wrong.

Our solution was implemented on Azure, using various resources to create the entire workflow. All of these resources were deployed under our Azure AD subscription. We developed two smart contracts (Retailer and Stock) in Solidity and deployed them on an Azure Blockchain Service consortium network. These contracts generate events to notify and provide necessary data about the operations within them. To communicate with these contracts and provide entry points into the entire system, Azure Functions were created that let users call contract functions by means of any REST API client. Additionally, Azure Blockchain Data Manager was used together with an Event Grid Topic to capture emitted events from the contracts and send them as notification emails and entries to a Cosmos DB instance.

Azure Blockchain Service provides a set of tools that simplify the creation and management of consortium blockchain networks, which allows developers to focus on the business logic of their deployed apps, rather than the underlying infrastructure. Azure Blockchain Service has built-in consortium management. In this context, a consortium is a logical group used to manage the governance and connectivity between blockchain members who transact in a multi-party process. Pre-defined smart contracts determine the actions that a consortium member can take. The administrator can invite other parties to join the consortium. Azure Blockchain Service resources are isolated in a private virtual network. Transaction and validation nodes are virtual machines (VMs) that can’t communicate with other VMs in a different network. This ensures communication remains private within the virtual network. Transactions can be sent to blockchain nodes via an JSON-RPC endpoint. The JSON-RPC endpoint includes the provider member as well as an access key. JSON-RPC is a type of RPC protocol which uses JSON to encode requests and responses between client and server. The JSON-RPC interface uses Ethereum JSON-RPC Protocol with Web3 authentication. The JSON-RPC calls can be done over HTTP or WebSockets (See documentation ). Clients communicate with a transaction node using a reverse proxy server that handles user authentication and encrypts data over TLS (see Azure’s official documentation for more details). The reverse proxy is getting the RPC and then looking up the authentication information using the OAuth Protocol. The Reverse Proxy uses TLS Protocol to communicate with the transaction node.

The Venn diagram below illustrates a consortium of three members. All nodes within the network can view data, but the Quorum protocol enables certain transactions to remain private among participants (as outlined in the “Private transactions in Ethereum” section of our Basic Concepts post).

In this sample consortium, transactions will follow this path:

  1. A new RPC-JSON transactions comes from a client, the entry point of each member will be this reverse proxy.
  2. The authorized transaction pass through the proxy to the Transaction Node.
  3. The Transaction Node sent it to the Validator Node.
  4. The Validator Node broadcast the transaction between all the Validators. Then it is queue to be validated.

Azure Blockchain Data Manager allows loading blockchain applications to capture, transform and deliver transaction data to Azure Event Grid Topics , which are endpoints where events can be sent. There are built-in topics, but users can also create custom ones. When a custom topic is created, an Event Grid API endpoint is created and associated to it. Azure Blockchain Data Manager internally performs an HTTPS POST request to this endpoint to send events to it. For more details, see ‘Capturing and viewing events’ section below.

We used this tool to capture events from our smart contracts and consume them. Azure also provides a way to connect Blockchain Data Manager with a Cosmos DB instance, which we explain later in this post.

Consumer action flow

In this section we explain how each Azure component fits into the action flow from the consumer’s perspective.

  1. The consumer creates a customer profile through the Consumer API which is identified by a unique user id which is returned.
  2. The consumer creates an order through the API using the user id from the created user profile.
  3. Internally, the corresponding endpoint creates an JSON-RPC transaction with the transaction node of the consortium member where the contracts are deployed.
  4. The createOrder function from the Retailer contract is called, which generates a transaction in the blockchain.
  5. Blockchain Data Manager captures events from the transaction node and sends them to the Event Grid Topic.
  6. A Logic App , consortium-events, triggers when the Event Grid receives events and sends them as notification events, while also storing them in a Cosmos DB instance.

Smart Contracts

Smart contracts are self-executing agreements that help to automate processes and verify the performance of contractual obligations. They are written in code and stored on blockchain networks, allowing them to be securely and efficiently executed without the need for a third-party intermediary. OpenZeppelin provides contracts that allow for ownership to be handled using modifiers that can be applied to contract functions to restrict access to certain addresses. These contracts enable the creation of a contract owner or a whitelist of addresses that are able to operate the contract, as well as allowing for the transfer of ownership.

The Stock smart contract

This contract holds the supply chain’s inventory in the form of a collection of stored items together with their basic info and available stock. Whitelisted addresses can only operate this contract.

In the basic scenario, with a retailer and a consumer, the retailer and the Retailer contract must be added to the whitelist. This will allow the retailer to add and remove items and update their info and stock. It will also allow an item’s stock to be decreased once an order is accepted, through the contract.

On the other hand, the consumer will not be whitelisted and will only be able to view items and their stock (which are public operations in our scenario).

To implement the whitelist, we used OpenZeppelin’s WhitelistedRole contract.

In the following subsections, we explain this contract’s implementation.

Stock contract data structures

Items are organized as a Solidity mapping, which allows to index elements in a key-value format. This mapping is called items, where the key is an unsigned integer value representing its id and the value is a struct called item. This struct contains the following fields: name, description, category (strings) and stock (integer).

The items mapping uses 32-bit unsigned integers as keys (item IDs), which means there will be a maximum of 4,294,967,296 (2³²) available keys. We consider this number is more than enough for our application, so we don’t need to use larger integers as our item IDs. On the other hand, 16-bit integers might have been a bit limited.

Stock contract functions

We implemented the following functions for this contract:

  • itemExists (private: only accessible within the contract)
  • createItem (only whitelisted addresses)
  • removeItem (only whitelisted addresses)
  • increaseItemStock (only whitelisted addresses)
  • decreaseItemStock (only whitelisted addresses)
  • updateItemName (only whitelisted address)
  • updateItemDescription (only whitelisted address)
  • updateItemCategory (only whitelisted address)
  • getItemStock
  • getItem

Stock contract events

Events are emitted from some of the functions, returning messages as arguments for logging purposes and/or obtaining relevant values.

  • ItemCreated
  • ItemRemoved
  • ItemStockUpdated
  • ItemFieldUpdated

The Retailer smart contract

This contract contains the logic that allows orders to be created and delivered and relies on the Stock contract to query, select, and decrease items stock.

As every contract it has an owner, who in the consumer-retailer scenario, is the retailer. Some functions are accessible to the consumer to perform operations such as creating an order, canceling an order, and confirming a delivery. Others are restricted to the owner, for instance, accepting, rejecting, and delivering an order. OpenZeppelin ‘s Ownable contract is used to accomplish this. This smart contract provides a modifier called onlyOwner that can be added to specific functions in a contract, which only allows the contract owner to call them (the owner is the address that deploys the contract by default, but this can be changed or ownership can be transferred at any point).

In the following subsections, we give details about the implementation.

Retailer contract data structures

Orders are organized in a mapping that indexes them by ID (unsigned integer). Each order is a struct that contains three fields: customerAddress, customerEmail, status and items. The last field is another mapping that holds the selected items, each of which is a struct that contains itemId and itemQuantity.

Below is a diagram showing the different states that an order can be in:

Retailer contract functions

This contract contains the functions listed below. Some functions are restricted to the contract’s owner, which is done with OpenZeppelin’s Ownable contract, using the onlyOwner modifier. Others require that the customer who placed the order is the caller. When an order is created, the user’s Ethereum address is stored in the order struct as the customerAddress field. This is achieved by assigning msg.sender (the address of the function’s caller) to this field. When attempting to cancel an order, comparing msg.sender to the customerAddress field that was stored in the order will determine if the caller is in fact the same user who created it.

  • orderExists (private: only accessible within the contract)
  • createOrder
  • getOrderStatus (only the owner or the customer who placed the order)
  • checkOrderItemsAvailability (only the owner)
  • cancelOrder (only the customer who placed the order)
  • getNewOrders (only the owner)
  • acceptOrder (only the owner)
  • deliverOrder (only the owner)
  • rejectOrder (only the owner)
  • confirmDelivery (only the customer who placed the order)
  • updateMinItemsPerOrder (only the owner)
  • updateStockContract (only the owner)

Retailer contract events

The following events are emitted from the contract. All of them provide a message and relevant data in their arguments.

  • OrderCreated
  • OrderUpdated
  • OrderDelivered

Entry points: Azure Functions

Azure Functions implementation

Azure Functions is a serverless compute service that allows the user to run event-triggered code without having to explicitly provision or manage its infrastructure.

You can leverage the Solidity extension for Visual Studio Code (follow this tutorial) to generate C# API classes for each contract, which were then consumed by our Azure Functions.

For each contract, the extension automatically generates two C# files: the contract definition and service. These allow developers to interact with the smart contracts from C# applications. In this case, we used them to develop the code for our Azure Functions. Here you can view the Azure Functions to interact with both the stock and retailer contracts. The image below shows the project’s folder structure, highlighting the auto-generated files and the ones that correspond to the Azure Functions.

Capturing and viewing events

As we explained, both contracts emit events when certain operations are executed successfully. Azure provides tools to capture these events and process them to be consumed in different ways. We chose to store them in a Cosmos DB instance and send email notifications.

To accomplish this, we had to set up several things, which we explain in the following sections.

Azure Blockchain Data Manager

The steps to configure Blockchain Data Manager are explained in detail in the official documentation . However, here we provide a summary.

  1. First, we created an Event Grid Topic. For testing purposes, we deployed a web app that Microsoft suggested in the same guide to view events. We added the app’s URL as an Event Subscription within the Event Grid Topic.
  2. Then, we created a Blockchain Data Manager instance, which points to the Event Grid Topic we created, specifying the transaction node of the corresponding consortium member.
  3. We added a blockchain application for Blockchain Data Manager to decode its events. To do so, we executed the following steps:
  • We saved the contract’s ABI and transaction bytecode (a hex code that identifies a contract that was deployed to the blockchain).
  • We created a Storage Account and uploaded the two files.
  • For each file, we generated a Shared Access Signature (SAS) URL from the portal.
  • On the Blockchain Data Manager instance, we added a new application, specifying the SAS URLs for both files.

4. Finally, by triggering events from our application, we could see them in the deployed web app. The event shown in the image below corresponds to an address added to the whitelist in the Stock contract.

Storing events in Cosmos DB

Azure provides tools to create a Cosmos DB instance and to connect it to Blockchain Data Manager. This tutorial explains the steps to send data from Blockchain Data Manager to Cosmos DB. The first few steps are how to configure Blockchain Data Manager and add an application, which we already explained. The following steps are:

  1. Create an Azure Cosmos DB account and add a database and container.
  2. Create a Logic App to connect Event Grid to Azure Cosmos DB. We named ours consortium-events.
  3. Add an Event Grid trigger that fires when an event happens, or a condition is met. In our case, the trigger is when a resource event occurs, for which we specified our Event Grid Topic.
  4. Add a Cosmos DB action to create a document in Cosmos DB for each transaction. In this case, we used the message type as the partition key to categorize messages.

With this setup, we could capture events from our applications and view the data in an ordered manner.

Using events to get the function return value

There are two kinds of functions in a Solidity smart contract: calls and transactions. A call is a function that does not change the state of the blockchain, while a transaction does. For example, a function that just reads a value stored in the contract is a call, while one that updates its value is a transaction.

Any function in Solidity can have a return value. However, in Nethereum, only calls allow an application that uses the contract to access this value. As no state changes occur and, hence, no transactions, the return value is immediately available. Transactions, on the other hand, return a receipt, which contains details about the transaction, but not its return value. Transactions must be verified by the blockchain’s consensus mechanism, which makes the value not immediately available. See the Nethereum documentation for more information.

As a workaround to get the function’s return value from within a transaction, we can publish the function’s return value in an event. By doing this, the return value can be made available to any application that is listening to the event.

Requirements

To run our solution, you will need to clone our repository here.

Then, you will need an Azure subscription (a free trial is available).

Finally, you will need an IDE. We used VS Code as our main one, although we also used Remix to test some things. Remix is an online IDE, which is very convenient for running quick tests.

Once in VS Code, we used the following required extensions:

If you use Remix to run smart contracts or to interact with them, keep in mind that you will need a wallet app. We used metamask to connect with the blockchain.

API Documentation

To check API payloads and available endpoints there is documentation for the Function Apps endpoints:

Disclaimers:

  • In our scenario, we are passing the contract address (Basic Concepts [⁷]) as a parameter in all API calls for the sake and simplicity of it. The user id is being past to link the consumer to the operation and is used to obtain the user profile. We get this contract address as part of the result of the contract deployment.
    Unfortunately, the contract address is a 42-character hexadecimal number, which must be known to make any API calls involving smart contracts. In a real scenario, the user will not need to know the contract address. The user would be able to use a more user-friendly name, for example, the company’s name, to identify the smart contract.
  • Also, for simplicity, we have not secured our APIs. For a customer to call an API endpoint, they just need to provide an ID, which is used by the backend to obtain their Ethereum credentials from a database. In a real-world scenario, the APIs will require the customer to have an authorization token obtained through a login flow. Additionally, the customer’s credentials would be stored in a safer environment, such as a key vault.
  • In our solution we stored wallet’s passwords in a CosmosDB collection just for simplicity. In a real application, those wallet passwords should be stored properly in user profile encrypted and salted at least. Remember that those passwords can’t be changed or recovered.

Appendix

A different approach: Logic Apps

Another approach could be using Logic Apps to act as entry points for our contracts. These allow calling contract functions through REST API requests.

Using the Logic Apps builder, the developer must specify input parameters and the smart contract functions that must be called. To reference the contract’s instance, the user must provide the contract’s ABI and bytecode (a hex code that includes the constructor logic and parameters of the smart contract, also known as constructor bytecode or creation bytecode). For all functions except contract deployment, the contract’s address must be provided as a query parameter in the endpoint’s URL.

We chose the Azure Functions approach over this one because it provides more capabilities. Moreover, the Ethereum Connector used in Logic Apps was deprecated last August.

Solidity Extension for Azure Functions

When creating Azure Functions, we recommend using the Solidity extension . The Azure Blockchain Ethereum Extension presents issues with the uint32[] type, which is used in some of our contract functions and their associated endpoints.

Customers’ wallets in API

To identify different customers in our distributed app, you can use our Consumer API, where creating a customer profile is as simple as running an Azure Function and it will be stored in a database with its name, email, id and key. This will create a wallet that will be associated to the customer.

Authenticating Contracts Using Whitelisted Role

To authenticate a contract (A) into another contract (B) we recommend using WhitelistedRole access control. It allows you to whitelist contract A and anyone who needs access. With this approach, there is no need to add anything into contract A for authenticating. Plus, the usage is like Ownable’s access control.

Web 3 applications

Web3 Development 101: Creating Decentralized Applications for the Next Generation Web

by with No Comment Technology

Creating Decentralized Applications for the Next Generation Web

Web3, also known as Web 3.0, is the next generation of the internet and it is built on the blockchain technology. With Web3, the internet will be more decentralized, transparent, and secure. The use of blockchain technology allows for the creation of decentralized applications (dApps) that can be used for a wide range of purposes. In this blog post, we will discuss the basics of Web3 and how to create decentralized applications for the next generation web.

The blockchain technology that powers Web3 is a decentralized, digital ledger that records transactions in a secure and transparent manner. This technology is the backbone of Web3, and it enables the creation of dApps that can be used for a wide range of purposes. dApps are decentralized applications that run on a blockchain network, and they are not controlled by any central authority.

One of the key advantages of dApps is that they are transparent and secure. This is because the data is stored on a decentralized network and is accessible to anyone. Additionally, the data is encrypted, which makes it more secure than traditional applications.

Another advantage of dApps is that they are decentralized. This means that they are not controlled by any central authority, and this gives users more control over their data. dApps are also more resistant to censorship and can operate without interruption, even if a central authority attempts to shut them down.

To create a dApp, you will need to have a basic understanding of the blockchain technology and smart contracts. Smart contracts are self-executing contracts that are stored on the blockchain, and they are used to facilitate the operation of dApps.

To create a dApp, you will need to:

  1. Choose a blockchain platform: There are several blockchain platforms available, such as Ethereum, EOS, and TRON. Each platform has its own set of advantages and disadvantages, so you will need to choose the one that best fits your needs.
  2. Learn to code: To create a dApp, you will need to have a basic understanding of coding. This can be done through online tutorials or by taking a coding course.
  3. Create a smart contract: This is the backbone of your dApp, and it will contain the logic that will govern the operation of your dApp.
  4. Build the user interface: This is the part of your dApp that users will interact with, and it is important to make it user-friendly.
  5. Test and deploy your dApp: Once your dApp is complete, you will need to test it to ensure that it is working correctly. Once it is ready, you can deploy it on the blockchain platform of your choice.

In conclusion, Web3 is the next generation of the internet and it is built on the blockchain technology. With Web3, the internet will be more decentralized, transparent, and secure. The use of blockchain technology allows for the creation of decentralized applications (dApps) that can be used for a wide range of purposes. To create a dApp, you will need to have a basic understanding of the blockchain technology and smart contracts. With the right knowledge and tools, anyone can create a dApp for the next generation web.

NFT Buy and Sell

Earn Money By Selling NFT Domains.

by with No Comment Technology

NFT Domains are hosted in a decentralised way and exist in a smart contract form, posted on the public blockchain. They include extensions that are valid mainly on the Ethereum and Polygon blockchain networks, like .nft, .crypto and others.

There are multiple benefits if you buy an NFT domain. For example, you can own it for life and you do not have to pay any fees. This allows you to retain a complete ownership of the domain and nobody else can assume this domain in Web 3.0. You also have the capability of using this domain the way you want to administer it, without any outside influence from big tech.

The primary method through which such domains are kept alive is to be stored on a cryptocurrency wallet that belongs solely to their owner. Once this owner gets such a domain, they obtain its full ownership, which allows them to sell it, create an NFT domain website in IFPS and modify it the way they want without any restrictions, compared to traditional domains.

Other benefits of of having an NFT domain include the following:

  • No one can register this domain or take it from you.
  • The domain can be used to create decentralized sites in Web 3.0.
  • You can send it, sell it or transfer it to anyone.
  • You retain a complete control of the domain.
  • You can turn your cryptocurrency address into your NFT domain name, for example “yourwallet.wallet” instead of the long wallet combination ID.

Why Sell NFT Domains?

Selling NFT domains has its benefits and according to recent statistics it has seen a dramatic rise in demand. Unlike traditional NFT art, these domain names have an actual use and can be really beneficial for the users of web 3. This is what has turned them into a really successful business and there are a lot of people who purchase them for both personal use and to flip them. NFT domain flipping can bring you quite the profits if done right, because there are domains that can be sold from $10 all the way up to hundreds of thousands of dollars with most expensive domains reaching prices way of $100,000.

How to Buy and Sell an NFT Domain?

In order to be able to sell an NFT domain, you need to first know the technical aspect of the situation. This is why in this section we will show you how you can first buy such a domain and link it to your wallet and then how you can list it for sale.

For this guide, we will use the No. 1 NFT domain seller in the world right now, known as Unstoppable Domains. It is the largest service that is made to make it simpler for you to buy and mint an NFT domain over at marketplaces, like Opensea, which is currently the largest in the world. It has the following perks:

1. Simplify cryptocurrency addresses with NFT domains
– Attach your BTC, ETH, LTC and 275+ other cryptocurrencies to your NFT domain

2. Login with your domain
– A single, easy-to-remember username on the decentralised web

3. Own your domain, for life

4. No renewal fees, ever

Website:https://unstoppabledomains.com/

How to Buy an NFT Domain?

Step 1: Go over at Unstoppable Domains site and initiate a sign up or log in if you already have an account:

register nft domain step 1

Step 2: Type a domain which you are interested in, in this case we will use an example domain for demonstration purposes:

register nft domain step 2

Step 3: Choose among the suggested domains in case this one is occupied. You can also go to the last page, where you can find the cheapest ones in case you are on a budget.

register nft domain step 3

Step 4: After you have selected your domain, go over to your cart to complete the purchase and add the domain to your Metamask wallet and your account.

register nft domain step 4

Step 5: Choose the payment method via which you would like to get the NFT domain. You can choose between several different methods, depending on which one is convenient for you:

register nft domain step 5

How to Sell an NFT Domain for Free?

If you have bought an NFT domain, you have now full ownership of it. This means that you have the freedom to do absolutely anything with it, including to sell it for profits, also known as NFT Domain flipping. You can also accredit it to a new wallet or use it as you own wallet name, for easier remembering and usage. Below we will show you how you can mint and list an NFT domain for sale.

Step 1: Go to Unstoppable Domains, and then from the home page, select Domains > My Domains. When you see your domain in the list, you can list it in the network by minting it using the “Free Mint” button:

mint nft domain for free step 1

Step 2: Confirm your e-mail address for security reasons (confirming your identity) by typing in the unique code you have received from Unstoppable Domains:

mint nft domain for free step 2

Step 3: Select the method via which you wish to mint the domain. This ties your domain to the crypto wallet and makes it possible for the domain to be sold on other platforms that are tied to the same wallet or work with it. Our recommendation is for you to go for the Metamask wallet as it is the safest and most widely adopted.

mint nft domain for free step 3

Step 4: Click the “I understand” tick box and then the “Confirm” button to mint it:

mint nft domain for free step 4

Now it is time to show you how to sell the domain. If you use Metamask or any other wallet that supports Opensea, you can create an Opensea account or log in your account using the Metamask wallet and when you do this, the domain should automatically appear on your items list:

opensea sell nft domain 1

Step 5: When you see it, you can open the NFT domain’s profile by clicking on it, which will take you to its own profile page:

opensea sell nft domain 2

Step 6: From this page, to list the domain for sale, you can go over at the top-right and click on Sell, which will take you to the selling page, where you can select the network you want to list it for sale in (Polygon is gas-less, which means no fee requested to sell it). You can select the parameters, the period for which you list this domain for sale and others:

opensea sell nft domain 3

Step 7: When you have selected all of the preferences, simply click on complete listing and. your domain will be listed for sale:

opensea sell nft domain 4

How to Choose NFT Domains to Make a Profit?

Now we will go over some basic strategies via which you can become a better trader of NFT domains. Unlike traditional NFT art, these domains are more valuable asset, and the main reason for that is because they have an actual application within the decentralized web. You can use them as names for your wallet, or you can create a web 3.0 website and publish it on the IPFS network. This is why choosing the right domain name is very critical, because it can make the difference between you becoming a successful trader or not. This is why we will go over some recently discovered research about statistics on which NFT domains are better and which ones you should be focused on investing in.

The research below is published by YouTube NFT domain expert Matt Garcia and aims to explain to you the most recent statistics concerning NFT domains and which ones sell better. In it, we will cover the following points:

  • Most sold NFT Domains based on the number of characters they have.
  • Most sold NFT Domains based on the number of words.
  • Most sold NFT Domains that are singular or plural.
  • Word types of NFT Domains that are mostly sold.

NFT Domains Mostly Sold By Number of Characters

Now the first thing we are going to look at is the number of NFT domains that are sold based on how many characters they have. This is important since it will help you make an informed decision on how long should the characters of the demand she will be investing it be. As mentioned before, the research that is conducted by YouTuber Matt Garcia returned the following statistics for the NFT domains sold based on how may characters they have:

sell nft domains - number of characters


Source: Matt Garcia (YouTube)

As you can see from these statistics, the most sought after NFT Domains have 6 characters with 20,8% of the total sales, followed by 4, 5 and 3 character names. This is very likely due to the simplicity of the domains when used in combination with Blockchain wallets. This is a very clear indicator that you should be targeting the domains you are investing somewhere within these limits.

NFT Domains Mostly Sold By Number of Words

Now let’s take a look at the domains that are sold, based on their word count. As you can see from the statistics below, expectedly the one-word domains are most sought after:

sell nft domains - which words


Source: Matt Garcia (YouTube)

There are a couple of factors that may be the influence this decision the buyers make, like simplicity, easy to remember, catchy and so on.

NFT Domains Mostly Sold Based on Being Singular or Plural

Now let’s take a look at the domains that are being sold, based on their word type – if it is singular or plural:

sell nft domains - singular or plural


Source: Matt Garcia (YouTube)

As you can see from the analysis above, the most percentage of the NFT Domain names that are bought are mostly singular names with plural taking only about 19% of the sales. Of course there are different kinds of domain names, but it is only natural that users prefer to buy names that are singular, then plural.

Word Types of NFT Domains That Are Sold

Now let’s dig in a little deeper and see what kind of what types are the NFT domains that are bought:

sell nft domains - what words are mostly bought


Source: Matt Garcia (YouTube)

What is surprising by the statistics is that users who are interested in web three and NFT domains very keen on purchasing Emojis as domain names, as this is something new and fresh. About 14% of the sales go to Emoji names, while the leader expectedly are nouns as it usually turns out to be with regular domain names as well. Another thing that is not worth missing out on when investing is acronyms and adjectives as they take the 3rd and 4th places in buyers’ liking.

What Kinds & Terms Are Most Interesting When Buying NFT Domains

As you can see from the table below, users often choose different kinds of topics and types to register their domains. One thing not to miss is number domain names, which can drive the domain price very high up:

sell nft domains - names invest


Source: Matt Garcia (YouTube)

Given that users have bought number type of domains, one possible strategy could be to register different types of easy to remember or popular numbers or even phone numbers of popular companies or people or something like that. Of course you have the freedom to choose any type of domain and as we can see from the statistics below different kinds of buyers prefer different types of NFT domain names and for different purposes as well.

What Are The Exceptions in NFT Domain Investing

Yes every rule has its exception, you should know that some demands are very popular, because they may be associated with different kinds of factors that influence their value externally. For example a new hype, a popular brand or a new kind of event that may occur, which may significantly drive the price of the domain up. The bottom line here is that you should really keep track of the new trends that are developing and make your investments accordingly.

Conclusion on Selling NFT Domains

Selling an NFT domain can be very profitable, but you really need to know what you are doing. The best selling domains are always the result of a deep and extensive research and informed decisions when investing in such domains. At the moment, there is a high demand for these domains and this is the right time you should start, but always be careful and do not buy just any domain you have a feeling will sell.

We hope you enjoyed this article and found it helpful. If you want the instructions in a video form, we are happy to announce that we have created a video guide on how to buy and sell NFT domains and you can check it out below:

Make sure to leave us a comment if you have any questions here or in the comment section in the channel. We will try to respond the best way we can to help you or simply talk NFT domains.

NFT Domains – FAQ

What Is an NFT Domain?

An NFT Domain represents a virtual web domain that is hosted in a decentralized manner in web 3.0 and runs in the form a smart contract, which is listed on the public Blockchain.

NFT domains include many domain extensions, that are new, such as .nft or .crypto, which are available on the Polygon and Ethereum blockchains.

How NFT Domain Works?

NFT Domains are hosted in a decentralised way. This means that there is no specific server doing the hosting, similar to what is Cloud Hosting, but with the difference of a clear decentralization across all of the devices supporting the blockchain.

This allows the owner of the domain to have a complete control over their domain with root permissions, unlike what you would have with traditional domains, making them the only ones in power to decide what they can do with the domain (make a web 3.0 website, flip it for profit, tie it to a wallet, etc.)

What are NFT Domains Used For?

Having no clear control due to decentralization allows NFT domains to have the following applications, when compared to traditional domains and web hosting:

1. They can make your long and boring crypto address short and easy to use by changing it using an NFT domain name instead. This works with most of the cryptocurrencies, including LTC, ETH and BTC.

2. Simple and easy to remember, making working with them a breeze.

3. You get a full control and ownership of the domain for life.

4. You pay only once when you get the domain to own it and there are no other hidden fees and monthly charges as it is not controlled by big tech.

5. There is no limit to how many NFT domains you can own and you can sell them very easily.

How to Get an NFT Domain?

In order to register NFT Domain to your name and then link it to your wallet, you should complete the following steps:

Step 1: Create an account at Unstoppable Domains.

Step 2: Type in the domain name you are interested in registering and you will get an extended list of suggested domains available at different prices.

Step 3: Choose your favourite among the suggested domains and add it to your cart.

Step 4: Open your cart from the website’s top-right hand corner and complete your purchase by selecting the payment method.

Extra Tip: Unstoppable Domains is by far the first and best platform for NFT domains so far, but you can also check other NFT Domain sellers if you are interested in other platforms or blockchains.

How to Mint NFT Domains for Free?

Below are the steps it takes to link your domain to your crypto wallet and mint it for free using Unstoppable Domains:

Step 1: Go to your profile on Unstoppable Domains. After your have purchased your domain, go to Domains – My Domains and you should see it there. Once there, click on the “Free Mint” button next to it.

Step 2: Make sure to confirm your e-mail address by entering the code sent to it as a security measure.

Step 3: Choose to which wallet you want to tie the domain to. If it is not supported, you should create a wallet on one of the supported platforms. We suggest using Metamask as it is the safest option.

Step 4: Click “I Understand” to confirm and the “Confirm” to mint your NFT domain.

Minting an NFT domain means making it a part of your wallet and owning it completely. You can later sell the domain for profit or use it to build a web 3.0 website.

How to Make Money With NFT Domains?

The only working and known way so far to make money in web 3.0 with NFT Domains is to sell them by flipping them for profit. This works by performing the following actions:

1. Buy the NFT Domain.
2. Mint the NFT Domain to your wallet.
3. List it on NFT Domain Marketplaces at the right price that will make it desirable for investors.

If you have any doubts in mind contact us for FREE CONSULTATION.

Web-3.0 Money Making

Unique Money Making Guide For Web 3.0

by with No Comment Technology

When you think about Web 3.0, the main definition that describes it is an ecosystem that is based on Blockchain in a decentralized manner. To put it simply, this is another way of looking at the World Wide Web – as a next generation Internet.

The primary purpose of Web 3.0 is to provide multiple forms of leverages and benefits compared to traditional Web 2.0 and Web 1.0. The main idea which helps make that a reality is the decentralized manner in which the information is transferred, which allows users to retain their data, privacy and content using the power of Blockchain. This is what makes it extremely desirable and a hot topic nowadays – most of the applications and platforms are not owned by a company, but rather by the users themselves.

Another benefit of this form of Internet is the tokens and tokenisation of it. This means that all of your assets can be converted to tokens that are stored on your Blockchain wallet in a secure and decentralised manner. With cryptocurrency going viral, this shapes up to be a new form of model that is away from any monopoly.

The result of this trend going global in terms of popularity is that a lot of people and organisations have taken interest in developing different aspects of this web, making it a very lucrative opportunity if you want to make money.

Ways to Make Money In Web 3.0

Make Money by Flipping Blockchain Domains (Web 3.0 Domains)

make money in web 3.0 blockchain domains

Blockchain domains, also known as NFT or Web 3.0 domains or presumably the so-called future of websites or at least domain names. The main benefits that they have in comparison to traditional domain names is that you do not have to pay any kind of monthly fees on one as it is credited to your wallet and can’t even serve as your wallet, making people find it much easier to pay you in crypto. The main reason for that is that you may replace the traditional old boring address (zD32hdsafn32a32h9g9f239fb9s9ahs992nz2, for example can become yourwalletname.x) into anything you would like it to be as long as it is not already taken.

The benefits for using NFT domains are multiple:

1. Simplify cryptocurrency addresses with NFT domains
– Attach your BTC, ETH, LTC and 275+ other cryptocurrencies to your NFT domain

2. Login with your domain
– A single, easy-to-remember username on the decentralised web

3. Own your domain, for life

– No renewal fees, ever

Another benefit of these the means is that you have the ability to create a decentralized website that is hosted in IPFS or Inter Planetary File System, which is basically in a decentralized manner. We have created such a website for demonstration purposes and have a guide on how you can register and sell a blockchain website for profit.

The benefits of using search website art a lot, but the main one is that compared to traditional hosting everything complete control over your Blockchain domain as the way it is hosted makes you the only owner of it, since it’s decentralized.

Below you can find a video on how you can use NFT Domains to make money:

Make Money in Web 3.0 by Creating & Selling NFTs

Make Money in Web 3.0 by Creating & Selling NFTs

Just like NFT domains, an NFT is also a very important asset. If you haven’t read our guide on how to make money with NFTs, then you should start by understanding what is an NFT or a Non-Fungible Token.

By definition, an NFT is a unique object that is digitally identifiable with the code, making it kind of like a digital certificate that cannot be altered, since it is recorded in the Blockchain, making the owner, whose wallet is a credit to the sole administrator and rights holder of the NFT. Since this makes the NFT a unique item, it has resulted in a large market recently forming in the sphere of art and collectibles and all kinds of art-related pieces.

The following kinds are the main types of NFTs that are currently being traded and the prices can vary from less than a dollar all the way up to millions for a single item:

  • Art.
  • Collectibles.
  • Domain names (NFT domains).
  • Music.
  • Photography.
  • Sports.
  • Trading cards.
  • Virtual worlds.

As we have shown and proven in our guides on the matter, with the proper NTF tools, the proper NFT creator apps, some skill and imagination, anyone can make and sell an NFT for profit in Web 3.0, as long as they have chosen the right NFT marketplace and the right marketing strategy as well.

Make Money in Web 3.0 By Getting Paid With Ads

Web 3.0 make money Get Paid With Ads

One very interesting way via which you can get paid as a result of using blockchain technology it’s probably also one of the oldest methods – via different kinds of advertisements on your browser. We all know that when we use our web browser and traditional ways and watch movies online, see videos and read blogs we all see different kinds of advertisements, that are optimized based on what we do online with the power of cookies and other truckers.

This method to make money is virtually in the same logic, with the exception of the fact that the profit is generated and credited not to the person who advertises, but to the user as well in a shared manner. One organization that is taking advantage of doing this is the most popular browser that is utilises blockchain Web 3.0 – Brave browser.

This web browser has tokens, that are also known as BAT (basic attention token). In a similar way to any other browser you also see advertisements, while using it, with the difference that four periods of time, BAT tokens are accredited to you in your personal cryptocurrency wallet that is controlled by Brave. Based on your activity in the Blockchain and how much you contribute, the value of your wallet can only go up and then you can later trade in those BAT tokens in the crypto market and therefore make money.

Monetize Your Blog Content by Turning It Into NFT

Monetize Your Blog Content by Turning It Into NFT

Another very interesting service that has been created in order to incorporate blockchain technology for profit is known as Mirror.xyz. This platform is very useful if you have a personal blog with daily readers. The main reason for that is that it helps you monetize your blog by turning each of your content created into NFTs.

Doing so allows you to link your articles to your wallet and makes it possible for you to retain a complete ownership, allowing you to move it in between platforms. Here are the following ways you can make money by turning your block content into an NFT:

  • Charging a subscription fee for accessing your content.
  • Allowing your readers to contribute to your work and then offering them a percentage of the profit.
  • The opportunity to negotiate with other businesses and brands and allow them to advertising your content at promotional rates.

Make Money in Web 3.0 from Airdrops

web 3.0 make money airdrop ens

Another extremely effective way in which you can quickly gather some income in Web 3.0 is taking advantage of different kinds of Airdrops. Because Web 3.0 is still at the beginning stage of development, there are tons of new projects with a lot of people who want to gather new contributors and users in their platforms and rewarding newcomers with tokens for free. This is an opportunity for any newcomer, because of the project becomes extremely popular, the price of those tokens may increase and they may profit from thin air.

Of course, there is always a trick. To get accepted to a new project, your wallet has to meet certain requirements, based on the organisation that is giving you the Airdrop. Usually, most new project want you to make a swap or a one time fee in order to begin participating in their protocol. Others just want your wallet to meet specific criteria in order to accept their tokens.

There are a lot of different kinds of airdrops out there and you should keep in mind and follow them closely. One example is the ENS Air drop, which was worth about 500 million USD in tokens, which were given to contributors with top-level contributors receiving up to 1,000 ENS tokens as sources have reported.

Make Money Via Web 3.0 VideoGames

Make Money Via Web 3.0 VideoGames

Another very unique and innovative way via which you can profit from Web 3.0 being in early stages is to go on platforms that reward you into simply using them. Such platforms include video games, which is rather an interesting way to generate income.

One such game is known as Axie Infinity. This is a game that is strategically oriented and is hosted on the Blockchain. It rewards its users with unique tokens by playing virtual characters.

To start on it you will need to buy a character, with the cheapest one starting at over $60 a piece. Once you get your characters, you can level them up, which increases their value. The game runs on the Ethereum Blockchain and by playing it you earn the tokens of the game, also known as Axie Infinity Shards or AXS. The stock is what allows you to make money using this game, since they can be utilised to make your money. Proof of that is hundreds of millions of dollars being sent and recieved in “Axies” so far.

This is one working example of a Blockchain – based video game, which allows its users to make money. Be on the lookout for you and start up games which are increasingly becoming more popular, as the sooner you start in such a project, the more money you can make if it becomes worldwide popular.

Make Money By Buying & Selling Land In The Metaverse

If you want to make money in Web 3.0 by becoming a Metaverse real-estate agent, then be advised – it is an expensive venture, but it’s worth it. An year ago, one block of land on the metaverse, known as Decentralandused to cost under $1,000, and now the same pieces are worth tens of thousands. But how does it work?

Well, first of all, you need to choose the metaverse in which you will trade land. The older metaverses, like Decentraland have most of their good land already bought, so if you do not have the resources to buy land there, it is probably a good idea to avoid it. Instead, look for newer and emerging metaverse worlds, where the land is still cheap, but you believe are promising projects.

The main strategy with buying such land is to get the good spots first. The more central spot that captures more user traffic around it, like a central street on the land map for example will have more value, as more people will see the virtual products created on this land.

Make Money Via Metaverse Activities

Make Money Via Metaverse Activities

Metaverse is full of different virtual activities in which you can not only participate, but also use for income. Starting from virtual stores that sell different character skins all the way to virtual casinos, where you have to buy an actual NFT in the form of a ticket to participate in the casino games.

Such unique strategies will help you generate profit, but to do that, you will need to purchase your own Metaverse land and create a virtual store or activity and become the administrator of it. Of course to do that you will need to be very familiar with the Metaverse you are in and you will need a good piece of land with a lot of people passing by it, so that you can attract more attention to your project. You will also need to be an active member of the community and promise something in return, such as tokens in the form of a trading chip, for example and some type of promotions to lure customers.

Become a Web 3.0 Developer

Web 3.0 Developer

Becoming a Web 3.0 developer can be one very lucrative opportunity for you. The main reason for that is you could be hired by not just one, but multiple organisations for a lot of different Web 3.0 projects.

Besides the mandatory experience in programming languages, you will need to be competent in Web 3.0 concept, like the following spheres:

  • How blockchain works.
  • What are smart contracts and how they function.
  • Building decentralised apps (also known as dapps).

The main skills it takes to be such a developer is of course knowing the fundamentals of blockchain technologies and also being competent in algorithm logics and data structuring. The languages in which most web 3.0 developers work on are the following:

  • Python.
  • C++.
  • JavaScript.
  • Go.
  • Solidity.

Seeing how any web 3.0 project is essentially a startup, you get the chance to work in close teams and also for yourself and given the project’s rate of success the money making opportunity is pretty decent to say the least.

Become a Web 3.0 Organisation Affiliate

If you are not a skilled developer, but still want to participate in Web 3.0 projects and work together with companies in the field, then do not worry. Another such option is to become an affiliate of a Web 3.0 organization. If you like making vlogs or writing articles and have an auditory, then you may be able to work closely with some companies to give you specific percentage just to advertise their products on your platform.

That being said, you will need to have a decent user base on your website or video channel and being an authority in the Web 3.0 field is a big plus. It may even make Web 3.0 startups and businesses seek you out for partnership as it happens often, since it is a win-win situation – you receive a percentage per click on an affiliate link or sale made and they receive profit and popularity to their project.

daos-nft-launch-travis-wright-1600-1536x804

Guide to Decentralized Autonomous Organizations (DAO) Development.

by with 2 Comments Technology

DAO Development Company

Earnlytical – Leading DAO Development company provides high secured decentralized services to our valuable clients. Decentralized Autonomous Organizations(DAOs) is like a business club for the crypto enthusiasts that runs under the shared goal where each person in the club has equal rights in making all decisions. 

Earnlytical a well known blockchain development company is now also expertise in developing a well organized and high performance DAO for our clients across the globe. Depending on the clients business requirements, we design and build a high level functioning DAO.

Introduction To DAO

Crypto space is continuing to occupy the headlines in the financial market conversation. The DAO experts claim that they are the next stage in a decentralized future. As the year 2021 was the year for NFTs, they year 2022 will be for DSOs. 

There are various shifts in technology and the environment all across the world. In the future the work culture of the people may also change drastically. People will set minds in working manner like investing, gaming, content creation, etc. This mechanism will replace the traditional office working culture. 

This technique will make people to main oneself independent with no controlling authority. This self-sustainable working environment will be developed up on various networks powered by blockchain. Our traditional work environment operates on the “work-to-earn” concept. But this new culture will operate on the basis of “create-to-earn”, “play-to-earn”, “contribute-to-earn”, etc. 

For making them come into the action, we will need DAOs to make people explore and make profit. 

What Is A DAO?

A Decentralized Autonomous Organization(DAO), also called Decentralized Autonomous Corporation(DAC) is a kind of organization that operates by rules encoded as a computer program. These are very transparent, controlled by the members of the organizations, and not governed by a central authority. Technically speaking, there is no centralized leadership. The transaction records and the program rules of a DAO are maintained on a blockchain. A decentralized autonomous organization is a work platform based on open-source codes. The blockchain networks and the smart contract based decentralized applications are mostly supported by DAOs. 

The decisions in the organization are made on the basis of the member’s proposals. Each member in the organization can voluntarily vote for making any change inside the organization by giving the ability for everyone to make decisions. The majority of the votes will be calculated and implemented inside the smart contracts with the rules coded. So smart contracts are the core of the DAOs.

Why Do We Need A Decentralized Autonomous Organization?

There are many useful benefits for DAOs but one the main reason for the need of DAO is conviction between two parties. This is the major benefit of the DAO when compared to a traditional working environment. 

In classic organization, trust is required more among the investors. But in the decentralized autonomous organizations, the code itself is enough to trust an investor as each action is going to be updated on  the smart contracts only after the approval from the community members. 

The community is fully transparent and verifiable. The internal problems are mostly solved smoothly via the voting system that has pre written rules in the smart contract.

How Does A DAO Work?

  • The organization’s core team will introduce the DAO rules with the use of smart contracts.
  • These smart contracts are visible and auditable by all the members in the organizations. The smart contracts are the groundwork for the DAOs. 
  • To make decisions on different ways to receive funding, the DAO platform provides tokens.
  • The tokens offered will be helpful for making profit and fill the treasure. The protocol only allows the DOAs to sell the tokens.
  • The right to vote is offered to the members having tokens in return for the members holdings.
  • The launch of the DAO will be realyu after the completion of the funding. The code will be pushed to live and that cannot be modified. By voting method consensus can be done.

Do They Work In The Real World?

This new DAO concept is looking great on papers and working quiet well inside the world of cryptocurrency and defi. But how is it possible for real world corporations?. It is something to be desired.

These computer algorithms can predict the rise and fall of a product cost. But it cannot solve the problems that arise inside the factory. For example a worker strike. Here the power of DAOs can be understood. The AIs can’t account for it. The DAOs are also work great in handling fraud and security issues. 

What are the Benefits of a DAO?

The below listed are some benefits of Decentralized Autonomous Organization:

  1. It is a trustless platform, The Authority was not under CEO or management, users have partial ownership
  2. Voting Mechanism allows users to make major decisions on the platform.
  3. Completely Democratic environment
  4. Fully transparency and open source

Root Supports Of DAO

Work-To-Earn

These employees are who work completely full time for a project in an organization. The demand for these embedded employees will never decrease. Due to greater extent of software and smart contracts the contributors now tend to have fewer influence when compared to the past.

Contribute-To-Earn

People who are specialists in the sectors like finance, engineering, designing, etc will serve in a large number of DAOs simultaneously. They do specific jobs with some bounds. They get revenue from the DAOs actions and activities. 

Participate-To-Earn

The large number of activities and participation will make the network strong. The behaviors which will be beneficial to the network will be turned to profit. The participants will make money just by living online, shopping, etc.

Play-To-Earn

This comes under the gaming concept. This is a revolutionary concept in the gaming industry as the people earn money just by playing games. 

Learn-To-Earn

This is a new education concept in which the person gets profit for learning something instead of paying for learning something. THis happens when the person’s learning skill and knowledge gives value to the network.

Invest-To-Earn

Individuals with the internet and a crypto wallet can invest in high growth organizations. They become the investor in that enterprises. These investors are the key source of the income of the enterprise.

DAO Development Services

There are three main elements for the DAO Development Services. They are:

  • Centralized legal entity 
  • Self-enforcing code also known as smart contracts, 
  • Tokens for incentives for the validators. 

The development process of a DAO will start from inclusion of all the features and functionalities in the projects and the smart contract will be created based on the discussion.  Then the testing of the smart contracts will be done. Fundraising stage will take over and finally the launch on the client’s server.

Some of our DAO Development Services:

  • Node Development For DAO
  • DApp Development For DAO
  • Smart Contract Development For DAO

Features of a Decentralized Autonomous Network 

Open Source Code

DAOs are formed by frames of codes that are independent & makers can create open source code that are easily accessible to each participant of DAO.

Smart Contracts

To maintain proper functioning of DAOs, the rules are coded as blockchain smart contracts which are executed automatically.

Blockchain Technology

To work in an autonomous & decentralized manner DAOs utilizes blockchain technology which adds transparency, immutability to the network.

DAO Tokens

In the Financing stage you must set DAO rules and to set these rules which have interior property, the DAO tokens are created.

Why Earnlytical For DAO Development?

  1. Blockchain Expert Team
  2. Fast Development
  3. 24*7 Technical Support
  4. Value For Investments
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7 important things you should know about the New Trends in NFT.

by with 2 Comments Technology

Craze behind NFT continues to flourish persistently. It just started in the previous year and NFTs started to conquer the world by becoming the talked topic of the town. Based on the Chain Analysis report, NFT witnessed profits that crossed over $27B at the end of 2021. 

Now, NFTs upgraded to its next better version and it is quietly referred to as “Version 2.0”. Next phase of the NFT begins by creating a hype among the business freaks and industrialists.  As NFTs have become a favorite exchange asset in the modern day, consider a business in the upgraded version 2.0 can meet the demands in the future. 

What Is NFT 2.0?

NFT 2.0 is the big evolution & in nutshell it is the next version of NFT 1.0. It is introduced with a motto of taking NFTs to the next level by introducing rare features to the NFT assets. By NFT 2.0, more utilities to NFTs can be added by creating digital NFT assets. NFT 2.0 welcomes users to enjoy smart and realistic NFTs in our market. 

NFT 1.0 Vs NFT 2.0 
 

S.NoNFT 1.0NFT 2.0 
1No provision to interlink with multiple NFTsAllow interlinking of multiple NFTs
2NFTs cannot be upgraded to next as it cannot be modified at any costModification of NFTs is possible by adding Metadata
3NFTs cannot be connected with each other for following commands like modificationIt allows NFTs to offer commands to each other for later executing changes on its functionalities
4No co-ownership provision of NFTAllows multiple ownership for a single asset
5NFTs cannot be rentedNFTs can be rented for improving liquidity
6It could not be customized for a better outlookIt can be customized easily for enhancing it’s output
7Less dynamic with less featuresMore dynamic with more features
8Possibility to have risk in futureNo risk as it is difficult to hack
9Creating high quality projects is less when compared to version 2.0Creates high quality NFT projects
10No passive income can be earned as NFTs cannot be rentedPassive income can be earned by NFT rentals

7 things you should know about the New NFT Trend

Customized NFTs
NFTs in 2.0 is designed in a way that it can be linked to multiple designs. In real time if a user accesses a book then the NFT 2.0 shows the relent design of the book accordingly.  

Smart NFTs
Smart contracts can be linked quickly with NFT 2.0. To be precise, if ownership of the NFT is changed then the NFT 2.0 has the capability to change the ownership of the NFT in blockchain with the support of smart contracts. 

Co-owned NFTs
Now it is possible to claim for a double ownership for the single asset. Multiple ownership can result in building trust among the users on an asset. 

Nested NFTs
NFT 2.0 allows infinite nesting of an asset, which means one NFT can own another NFT. It allows one NFT to own another NFT and it can have sub-ordinate NFT and so on. It will be more useful in gaming, art and metaverse. 

NFT Rental Model
NFTs can be rented for earning passive revenue. It constantly improves liquidity and it makes NFTs much smarter, adoptable and reliable for the users. 

Multi-resource NFTs
NFT 2.0  has a potential to link with multiple resources like image, video, audio, art and so on. 

Reactive NFTs
Based on a certain set of conditions the NFT reacts accordingly. Thus it serves for different purpose.

NFT DAOs
NFT 2.0 is associated with NFT DAO. Since NFTs are costly DAO functionality is interlinked to reduce cost. 

Characteristics Of NFT 2.0 

Generativity
NFT 2.0 offers great opportunities to grow in the future as NFTs will be more relatable and accessible for people. AI will do this by offering a personal suggestion for a user.

Composability
With NFT 1.0 a one-to-one exchange is done but customizing an asset does’nt happen. NFT 2.0 allows quick customization of an asset for developing a new personalized asset. 

Interactivity
It makes NFTs more interactive and smart as it can take input from the people. Based on the set of commands and input feed the NFT upgrades itself from one version to the other. 

Experientiality
Delivers enriched user experience for the users as NFTs offers advanced utilities to the NFT holder.

NFT 2.0 will be a big thing in the year 2022. The technological advancements and headlines shows it has become a trend among the NFT circle. Even today NFTs have become a part and parcel for everyone and its growth is evitable in the upcoming days. 

To enhance its growth more and more, the new features are introduced in version 2.0 like NFT interlinking, upgrading, and dynamism. It makes NFTs better from the previous version and now it’s trending among the NFT enthusiasts. 

Power Of NFT 2.0 In Influencing A Business

NFT evolves! Why not you?
Surge and popularity of NFT 2.0 results in generating passive income for the NFT owners. Many business freaks has taken a step by making a footprint in developing multipurpose NFTs. Any creative asset can be created that serves distinct usage. It is time for you to flourish with NFT version evolution by upgrading your business to the next level. 

Inquire more with our team & get our constant support!

isp-blockchain-gaming

IGO Launchpad Development – Create a Cumulative Launchpad To Explore Next Gen Blockchain Games

by with 2 Comments Technology

Initial Game Offerings (IGO) Launchpad Development

Initial Game Offerings Launchpad Development is a process of creating a crowdsale blockchain gaming environment that includes gaming assets like mystery boxes, weapons, skins, characters, etc. With IGO Launchpad Development Company the individuals can launch their own gaming launchpads like Binance NFT, BSCPad, TrustSwap, EnjinStarter. 

Earblytical – A IGO Launchpad Development Company, is expertise in creating launchpads for blockchain games. Several development stages are undergone to deliver outstanding IGO launchpads for the clients across the globe. 

Features Of IGO Launchpad

Automated Liquidity
Instant liquidity is required to handle gaming launchpads. So a automated liquidity pool is integrated to offer limitless liquidity to IGO launchpads.

Cross-chain Swap
Offers interoperability across blockchains and the ability to make cross-chain transfers across multiple blockchains. 

Feasibility
Optimization of the platform offers great feasibility for the users to operate it. 

KYC
KYC Prevents scams and authorised users, by protecting the privacy of user. 

Transparency
Earns trust of the users by making it completely transparent for them. The source is available openly for the users so that it can be verified.

Compactibility
IGO Gaming launchpads are made up compatible so that it works well with all blockchains. 

Industry Leading Crypto Game  IGO Launchpads 

  1. Seedify.fund (SFUND)
  2. GameFi (GAFI)
  3. Gamestarter (GAME)
  4. Enjinstarter (ENJINSTARTER)

IGO Launchpad Clone Solutions We Offer

GameFi Clone
Main objective of our GameFi clone script enables you to launch a gaming launchpad at a stretch. With a Gamefi Clone a variety of gaming operations can be performed like staking, yield farming, and so on.  

SeediFy Clone
Seedify clone creates a fundraising launchpad which is developed with the intent of creating successful blockchain projects. 

GameStarter Clone
With GameStarter Clone a full scalable gaming ecosystem can be created to deploy blockchain based gaming projects. 

Binance Launchpad Clone
Binance launchpad clone offers an exclusive solution to launch a new token for raising funds in the crypto ecosystem. 

EnjinStarter Clone
EnjinStarter Clone develops a cross-chain compatible launchpad by hitting a variety of  successful scalable gaming platforms.

What Is an IGO (Initial Game Offer)?

IGO launchpads are the newest trend in the cryptocurrency market, and they work on the same principle as an Initial Coin Offering (ICO). The only difference is that IGOs host gaming projects in which NFTs or tokens are used as in-game cash and prizes.

Investors can put their money into IGO launchpads’ gaming initiatives and expect a big return after the project is listed on major crypto exchanges or achieves traction in the growing gaming community.

IGOs are the next big thing in the crypto space, thanks to the rise of blockchain gaming. 

The Initial Game Offerings (IGO) is a collection of NFT assets from top-tier gaming projects that are only offered on Binance NFT. Auctions, fixed price auctions, and mystery boxes are all options for launching assets.

All drop material will be in-game assets such as early-access passes, weapons and gear, custom Binance aesthetics and skins, and much more!

Benefits  of IGO Launchpad Development

Fundraising in Initial Game Offerings (IGO) Development Services is popular among mobile game developers for a variety of reasons. Game creators can use an Initial Game Offerings to acquire funding without relying on publishers or venture investors. 

Some of it’s primary advantages are listed below.

Quick funding

An IGO can offer all the money you need in a short period of time if you have a good pitch and a large enough social media following, and without the strings that venture capitalists may have.

Controlling your game
An IGO gives you 100 percent ownership of the company’s equity, allowing you to make all development choices.

Future game funding
IGO allows you to seek funding for numerous projects at once because it’s far easier to raise money in small increments while you’re still growing an audience. 

An IGO funding can also prepare the way for more effective use of the Initial Public Offering prospectus, which allows companies to list on public stock markets through the Initial Public Offering procedure.

Workflow Of Initial Game Offering (IGO) Launchpads

Motive of developing IGO launchpad is to launch a blockchain game for raising the capital funds. Participants of the IGO Launchpads gets quick access of the gaming assets at the initial stage of development process. Assets offered by the IGO are  mystery boxes, characters, skins, accessories, weapons, etc,.. 

At present many IGO launchpads are available that includes Binance NFT, BSCPad, TrustSwap, and so on. Each and every launchpad has their own setup process. A native token is required to purchase a launchpad platform if a user wants to participate in it. 

For example, In Binance NFT, an investor must hold a BNB token in their Binance wallet so that they can be eligible to participate. Once a required token is acquired then the participants can lock it in the pool for a particular period of time. As per the algorithm, an NFT is received based on the number of locked tokens. 

Then according to the subscription mechanism rewards are offered for the winners. In some cases a participant must hold or stake a purchased gaming token before they trade it. 

CheckList To Evaluate A Good IGO Launchpad

  • Launchpad Holding Requirements or Tiers
  • Allocation Type
  • Holder Benefits
  • Platform ROI
  • Funds Raised and Number of Token Generation Events
  • Check the number of token generation event 
  • Notable Gaming IGO’s

Why Choose Earnlytical for Initial Game Offerings Launchpad Development?

Initial Game Offerings Development creates a gaming launchpad environment for the gamers who participate in purchasing gaming assets. Business can be setup by developing launchpads for games. A huge investment can be enforced in it by providing rewards for gamers through creating a creative project by raising funds and for investors who likes to invest in IGO launchpads. 

We help you to create some of the popular IGO launchpads like Gamefi, Gamestarter, Seedify, etc. We are one of the top notch Blockchain Development Company who support clients across the globe. One who wishes to create a IGO launchpad can talk about their requirements with our experts. Enquire more with our team and get a consultation.