Tezos blockchain integration reduces energy consumption and welcomes a wave of new creators and collectors
The proof-of-work vs. proof-of-stake aspect of blockchain is front and center. Alternatives to Ethereum have been gaining popularity. With the sudden shut down of Hicetnunc.xyz many collectors worried about the future state of Tezos based NFTs. Quickly alternatives started popping up, but today Rarible announced that they will integrate with the Tezos blockchain allowing collectors a new path forward for Tezos NFTs.
By integrating proof-of-stake blockchains that consume significantly less energy than Ethereum, we can build a sustainable future of digital ownership for everyone.
Tezos is the product of many organizations across the globe working together on an open-source project. Don’t see the perfect role for you but want to work on Tezos? Reach out to the Work on Tezos mailbox – include your resume, what you’re looking for, and why you’re excited to work on Tezos. Resumes are shared with a number of organizations in the Tezos ecosystem.
Using and understanding data is a key tool in any collector’s toolbox. Being a collector in the NFT space is no exception. Whether you are trying to build a collection of specific artists, pieces that catch your eye or appeal to your taste or picking a collecting theme and sticking with it, good market data matters. Everyone has constraints, with budget and time often being the biggest. Enter ArtCentral.io. NFT Culture staff has been using this tool for a while, and their newest updates are a homerun. We decided to share the tool out with our readers.
ArtCentral.io bills itself as a “Data Analytics hub for NFT Collectors”. The app is highly focused on providing insights into the data, along with the data itself. Where a seasoned collector might have a strong internal compass guiding them on prices and good deals, newer participants are simply overwhelmed. This is where the insights feature can really shine, providing a guiding hand when searching for new pieces to acquire.
The collectors leaderboard has two interesting components. Firstly, it shows the largest whales in the ArtCentral.io database, based on dollar value of portfolio. At the time of this writing, that honor goes to AnimalScraps, Devo and Pablo. The second piece is a leaderboard, which shows where individual normal collectors rank. The list is pretty interesting, as some collections will relatively low numbers (Mike V as an example with 10 NFTs) rank high, where as other collections (such as Sugar2 with 112 NFTs) rank unexpectedly lower. Our guess is that collectors who have been involved with NiftyGateway for longer are likely to trickle higher on the list.
One other neat little perk about the list, is that the leaderboard collects the social media links provided on each user’s profile and compiles it into one place for easy access. It does appear that only one of the links provided are copied over, we would love to see all of the links copied over.
One additional request we would have for the ArtCentral team would be to allow users to browse the list more freely. The data is publicly available, after all. We do understand that this might open the site up to its own scraping dilemma, where competitors scrape their portfolio value calculations to save the trouble of computing it on their own. However, we are sure there are workarounds to this risk.
The marketplace explorer is the meat and potatoes of ArtCentral.io. We have seen this sort of data view before but two major features help ArtCentral to stand out. The first is the clear definition of useful numbers for a collector. An example of this is the “Market Price” and “Fair Price”. The “Market Price” is synonymous with the “Floor” commonly used by NFT collectors. The “Fair Price” is a calculated value that ArtCentral claims to be an ideal price to attempt a purchase at. We still need some more time to digest the practical numbers presented, but we appreciate the attempt at providing some realistic clarity to pricing of a non-liquid asset.
The second useful indicator provided that is unique to ArtCentral is the speedometer widget. This widget shows a visual relationship of the two values presented above, as well as commentary on how dynamic the market currently is for the piece. As an example, in the image above, Politics is Bullshit shows a Market Price of $110,000 and a computed Fair Price of $108,382. In ArtCentral’s estimation, the market is pricing this piece “About right”, as the two prices are well correlated. Expect to see the speedometer behaving erractically when looking at low liquidity pieces, such as 1/1s, or low edition pieces where the pieces have never been traded.
Lastly, we can’t review the Marketplace Explorer without pointing out its capability to also browse pieces from Hic et Nunc. As we’ve stated in many other places on NFT Culture, H=N is a great marketplace, especially for collectors new to NFTs, as both the pretense and the pricing is very low. You can simply browse around and find stuff the looks cool and not worry about the 2 or 3 Tez ($8 or $12) you are spending on the pieces. Its great whether its the beginning of the month or Pay Day. For help getting set up on H=N, see our video here.
The upcoming drops calendar is another great feature on ArtCentral.io. Have you ever wondered what blue chip drop you are missing out on because you don’t have time to check every NFT artist’s twitter every day? Many sites have implemented their own drop calendars, but who has time to check each of them? ArtCentral has you covered, all in one comprehensive location. We love that you can favorite items and even add them to your calendar. We like the selection of marketplaces, but expect that more will be added in the future. The feature does have a visual issue with showing some of the works from the drops it displays, we expect this is either due to video, or the way the drop page is laid out, or maybe some other mundane technical issue. If ArtCentral can sort out this challenge, we think the drop calendar can easily become every up and coming NFT Collector’s landing page at the start of the day.
In conclusion, if you are a casual or a serious NFT Collector, be sure to go check out ArtCentral.io. It has tons of great features to help you build an awesome collection. Special thanks to Koby @ ArtCentral for the heads up on their launch of the latest version of the site.
2021 is an interesting time for the NFT community. With so many marketplaces coming into fruition, It’s hard not to get excited about new drops. Earlier this year, we wrote an article about counterfeit non fungible tokens, as a guide to help new collectors make sure they are not accidentally buying an NF T from one marketplace that may have been plagiarized on another nft marketplace. Today, it’s time for us to take a deeper look at two intertwined issues around copyright and counterfeit NFTs . The main reason that this is important is because with more market places more confusion is created. In our first article, we focused primarily on the major concern around buying Beeple NFTs on rarible or opensea. The challenge we run into is when NFT Marketplaces are unable to help collectors identify if an artist is a real authentic artist or not. The latest example of this was a popular NFT artist xcopy allegedly released a NF T on fast growing marketplace HEN. It turns out that this was a fake NFT by an imposter, and xcopy, had to go on their discord, to explain to their audience that this was not in fact real. It is an unfortunate reality that until some of these verification methodologies are fixed, collectors should proceed with caution buying unverifiable art and these challenges persist, regardless if they’re pseudo anonymous creators like xcopy or not.
NFTs and Copyright Issues
*declaimer again, we are not legal experts. If you are seeking legal advice, reach out to an attorney.
An additional NFT related event that we were recently notified about was a Twitter thread by someone named Joe( their handle is @niftymiki) exposed an artist who is popular on the foundation NFT marketplace. In fact, this artist has over 900 followers and has created numerous pieces of work, selling for anywhere from.5 ETH to multiple ETH in certain instances. Their work is objectively beautiful, but a sleuth discovered some discrepancies. The problem is that their work is similar enough to other successful artists that some consider it stolen. Joe was able to create a very long Twitter post that was able to succinctly describe and dissect how this artist was imitating art from other artists, augmenting it just a little bit, and then repurposing it as their own NFTs. This gets tricky, as we start to consider copyright laws, and what is considered fair use, and what is a true derivative, especially with non fungible tokens. The majority of these pieces of art. In our opinion, do cross the line. They were not intended to be used in this capacity, And it appears to be a conflict. Joe reached out to the artist in question to understand if they had consulted the original creators and it appears at the time of this writing that never occurred.
While we are not lawyers, and we cannot speculate on what the ramifications could be. There has been precedent set in certain instances where artists are able to successfully protect much of their work. Some of the other challenges that people have, are just the fact that the artist in question, lacked sympathy or empathy in their responses.
NFT Collectors need to understand the marketplaces and where they are buying their art.
This brings up an interesting challenge where collectors need to understand where they are buying their art, and if that art is protected. If there’s an artist that you really like, but you don’t know them very well. They don’t have strong presence in other areas including social media like Twitter, like Instagram, and a website, or even a deviant art page. It’s worth researching them further before making an NFT purchase. We don’t want to speculate on the intention of this, the artist in question may have thought that their derivative artwork was unique enough to warrant its own art, but as a collector it is worth taking a closer look. You can do Google reverse image search, and otherwise, to see if other types of this work have been created by other artists, then you can decide if you want to support this artist or not.
The point of all of this is just to say do your own due diligence, it’s incredibly important to think about it from that standpoint. Our final thoughts on this topic, are an interesting thread that Ana Isabel, who is the founder of the NFT goddesses movement, we had on the podcast recently and she has some comments on just the focus of copyrights and what artists should be doing to protect their, their art.
When creating art, it’s important to know if you’re giving up the commercial rights, or just the piece of art by itself, and she uses the example of buying Nike shoes. And just because you buy a pair of Nike shoes doesn’t mean you can go and replicate those shoes in perpetuity and then go and sell them and the logo, and otherwise. The same could be said with certain pieces of art. And just because you buy a piece of art, doesn’t mean that you have the right to go and reproduce reprint, etc.
It’s a tricky time for NFT collectors and artists alike and this is why we do like the Bored Ape Yacht Club, and their openness to create derivative art on the apes that you own. And as we’ve stated in other podcasts, and video streams, it’s probably in your best interest to keep it simple and if you’re going to create derivatives of art, like BAYC, you probably don’t want to sell that art, because it’s unclear what happens to those derivatives. After you make that sale.
Possible Outcomes To Help Collectors
Marketplaces should get better at verifying artists.
If you are unsure if a piece is by a particular artist ask them on social media, or join their discord.
If you are an artists, dont steal other artists work. Ask to collab, most would be incredibly excited for the opportunity.
Know your Customer (KYC) and Know Your Artist (KYA)
The final consideration here is meant to minimize confusion. As more and more artists enter the space and more marketplaces are created the anonymous aspect to collecting is coming under massive scrutiny. From bots buying drops on Nifty Gateway to money laundering concerns around NFTs, The idea around Know Your Customer (KYC) is taking center stage. The premise of KYC implies that the marketplaces you’re purchasing from can verify your identity. Candidly, we believe this is an if not when scenario as regulators continue to learn more about the crypto / NFT space. It will also be interesting to see how much KYA or know your artist becomes prevalent on platforms (especially the lower tier NFT marketplaces) to insure that even if xcopy hasn’t done a drop on HEN. their profile is accessible so collectors know they havent dropped.
Stay safe, and if you have any questions about what types of NF T’s you’re collecting or you’re unsure if a piece of art is authentic or not, never hesitate to reach out to the NF T culture team, and we will do our best to help you figure this out to the best of our ability.
HEN is currently down. You can still buy Tezos NFTs on a new website inspired by the original HEN here or you can go to objkt.com.
What is the hic et nunc (HEN) NFT Marketplace?
This post is the HEN overview and buyers guide. We will publish a HEN Creators Guide in the near Future.
Possibly the greatest and most fun surprise over the last 90 days of NFT growth is the Tezos based NFT platform hic et nunc (Commonly referred to on Social media and disord platforms as HEN NFT platform).
hic et nunc is latin for for “Here and now” and is described as the imperiative motto for satisfaction of desire: “I need it, Here and Now.”
One of the things that makes HEN so exciting is that it’s an incredibly accessible marketplace for many NFT collectors. Much of the art is priced at very affordable prices with consistent gas fees. Additionally, it’s very easy for anyone familiar with blockchain technologies and wallets to mint their art. Over the last 90 days, Tezos or XTZ has fluctuated between $2.40 and $7.20 USD. while that variance seems like a lot, the fact that it’s cheap to mint (between $.09 and $.15) and to use the network means that collectors are more comfortable spending crypto currency on the platform.
Additionally, many artists are minting anywhere from 100 to 500 edition drops on HEN at .01 or even completely free (Besides Gas Fees) allowing collectors to purchase many NFTs to fill their collections vs the much more expensive ETH based alternatives. What is interesting about HEN is that many collectors are picking up art that looks cool, is inexpensive and would show well on a myriad of NFT displays. The initial prices have drawn many collectors who just want to find cool diamonds in the rough, but the lately many successful artists across other mediums including Makersplace and more have started putting their art on HEN and finding many collectors for their art.
Is HEN a Gimmick or does it have staying power?
Originally, we were having fun with HEN because it allowed us to feel like 888. We started buying up art left and right because it was so cheap and accessible, but what we found is that the community aspect was incredibly compelling. Buying on HEN felt like the old days of crypto art. It lacks, polish but within the raw UX it feels inherently artistic. It feels yeezy-esque in that if Kanye West were to have made an NFT marketplace, it would have likely looked and felt like HEN.
Is it a Feature or a Bug?
To double click down into the HEN NFT marketplace. Art takes centerstage. Instead of finding the artist you like and then picking art within their collections, the pieces come to the forefront. To explore HEN is to explore the art. We love that this removes the curated experience of other marketplaces (and what initially drew so many collectors to NFT platforms like OpenSea and more.) With HEN the art is what matters, the creator comes second.
That being said, how long will the lack of features and the focus on art stay a primary feature and can the lack of elegant interface and user experience stay endearing? Will the lack of functionality become a headache for collectors as the marketplace continues to mature. There are already a number of projects that are trying to organize the HEN NFT marketplace into a more digestible interfaces. Our favorite right now is objkts.xyz that shows free NFTs as well as recently sold items for collectors to find.
One challenge runs rampant on less regulated NFT marketplaces is counterfeit NFTs. On ETH based marketplaces its usually easier for artists to identify an artist they like and find out if their art is authentic, a counterfeit, or a derivative of original NFT art from the creator. In the case of HEN, it’s more complex. Since most art is incredibly inexpensive, it probably doesnt matter for collectors. If you are buying art on the platform for real money, it is important to go back to the artists profile on twitter or social media and check their HEN link. From there you can compare the issuer ID (also their wallet address) to confirm that the HEN NFT they’ve published is from the same issuer and therefore authentic.
Buying NFTs on HEN
The first thing you need to buy NFT art on HEN is Tezos. Right now, Tezos is the #34 Ranked Altcoin on most marketplaces. It’s growing and becoming popular due to its accessibility, relative impact on the environment, and accessibility via HEN and other growing marketplaces. We will watch this currency closely to see how it grows over time and see if it can break through into the top 20 or 25.
For this example, first you need to buy Tezos (available on Coinbase). If you are familiar with ETH based wallets, Tezos follows a very similar pattern. Instead of using Metamask, you can down a browser based wallet called Temple. Temple is a Cryptocurrency wallet for Tezos blockchain and essentially mimicks the functionally you’d find in a metamask wallet. You will have to create a seedphrase (for wallet recovery) and a password. From there you will initiate a transfer from your coinbase (or other marketplace) to your wallet.
Once you’ve transferred funds into your account, all you need to do is connect your wallet to the HEN marketplace and you’re ready to start collecting!
visit hicetnunc.xyz on the tip right of the website you’ll see an option to connect your wallet
a Confirmation Connection will pop up for you. Press Connect
Start browsing for art. Within HEN they are described as OBJKTs
Click on an objkt you want to collect
On the right hand side you’ll see “collect for XX tez)
Click that link to pop up Temple tezos wallet
Select if you want to increase your gas or storage price (to increase likelihood of successful transaction and usually $.01 more expensive)
Wait for Objkt to appear
You can then decide if you want to put the art up for sale or collect forever.
HEN final thoughts
We hope this HEN overview was useful. We’re having a ton of fun collecting various artists. What do you think we’d love to learn more from the awesome community!
Blake Kathryn is one of the most popular NFT artists in the community. Her unique talents around creating beautiful 3d environments with amazing palettes. She’s an incredible ambassador to the community and regularly engages with her fans while creating work on twitch. Additionally, she’s passionate about social justice and equality topics and regularly highlights artists who haven’t had previous exposure. We expect great things from Blake Kathryn.