Ethereum is not the only blockchain that can take something that is hot and run with it. Hive is also capable of developing applications that can take advantage of the latest trends.
Obviously, much attention is being placed on DeFi which is providing Ethereum with a huge boost to its network. I read this morning that fees are getting near $3 due to the high traffic.
What is ironic is that Hive (Steem) had DeFi from the very early stages. One was able to stake tokens for a return. This is what powering up on the blockchain does. Nevertheless, that is a discussion for another day.
Another major area that is starting to develop is in the field of NFTs. Non-Fungible Tokens are going to make an enormous impact on industry. When we think of ownership, of anything, it will change. Essentially, whatever can be tokenized eventually will be. This includes collectibles, real estate, brands, intellectual properties, and a host of other digital and virtual assets.
Presently, we are in the very early stages of this concept and the innovation is light. However, that will likely change over the next couple years as more people toy with the potential that NFTs offer. Gaming is obviously a market that is really untapped.
On Hive, we got our first introduction to the capabilities with the opening of NFTShowroom. This is a platform that was designed to bring digital artists and buyers together.
What I like about this project is that it appears the updates are coming out hot and heavy. Each week I see posts on my feed that mentioned some addition to the website. Since day 1, I felt this is of utmost importance when it comes to a project. Unless there are regular updates, it is likely the project is dead.
The most recent addition that caught my attention is that MP4 files can now be uploaded and sold. This means that jingles are now available. Those who are talented in this area can create something and others can buy it as a "theme song" for their videos or site.
It is just another way to expand the potential opportunity for content creators, whatever form that content takes.
Now we have a new entrant into the world of NFTs on Hive.
@nftmart popped up yesterday with an announcement that looks very exciting. This could be a piece in Hive's foundation going forward. The idea is very simple: offer a market where people on Hive can buy and sell NFTs. I looks like this particular application is going to focus upon the games that are developing on Hive.
The first game they chose to concentrate upon is DCity. This is a digital card game that enables players to build their own cities. The in game assets are all assigned a NFT, providing a means for players to buy, sell, and trade the assets. NFTMart seeks to provide a platform for people to do this.
I would expect that as development continues, more assets will be eligible for listing. With games such as eXode and @cryptobrewmaster working on rolling out updated versions of their games, these too will include a host of in game assets that will be tokenized. It only makes sense that NFTMart will offer people on Hive a way to market them.
There is something else that I did find to be very interesting. This could hold great potential as more tokens are created. We all know there is a lot of discussion about SMTs (HMTs) and whether they will end up on the base layer or as a layer 2 solution. Either way, we presently have Hive-Engine which fills that role to a degree.
NFTMart looks to leverage that while offer token holders more options. There were about half a dozen tokens listed in their cart.
In this example I selected BEER as the currency of choice and this is what appeared.
Obviously I do not have any insight into the future plans but it only makes sense that this could be expanded to include a variety of tokens that are listed on Hive-Engine. Here we see the use case for the tokens listed suddenly expanding. It could turn into a very valuable concept for this ecosystem.
To read up more on this project, here is the introduction post:
https://www.leofinance.io/nftmart/@nftmart/nftmart-hive-s-nft-market-just-choose-click-and-checkout
Here is the link to their website: https://nftm.art/
So while Ethereum battles high transaction costs and a slowed network due to all the DeFi activity, Hive just keeps plugging along. Now is a great time to mention one of the biggest benefits to the Hive blockchain, the fast and feeless transactions. Each of these NFTs will cost zero in terms of blockchain transaction fees. As long as someone has Resource Credits, the transaction can take place.
Having a marketplace for NFTs is a powerful first step. This is a segment that is only likely to grow. It stands to reason that more games will appear on Hive as time goes by. Presently, we are seeing HolyBread being reworked since a new team took that over.
That said, an overlooked aspect is the fact that the same games keep producing more in game assets. So even without an increase in games, DCity, as an example, will keep pumping out more NFTs over time. The same goes true for all the other games we already have operating on Hive.
For a long time I felt that Hive was a blockchain of opportunity. This is coming into reality with each development step forward.
It seems we are seeing a foundation being put into place to offer Hive users opportunities when it comes to gaming and NFTs.
The scope of the ecosystem is expanding.
If you found this article informative, please give an upvote and rehive.
gif by @doze
Posted Using LeoFinance
Sweet. Just bought a Police station for my dcity. Crime's getting out of hand.
Seamless, cheers.
The real trick will be to attract more users and developers into the eco system to use these great capabilities. All of use here know how much potential hive has. We just need other to see it as well and build here. With apps and options like these I would love to see more marketing and adoption as success breeds success.
If Devs see successful projects built on here then they will say why can't we do it as well with their own ideas.
Yes it is a basis of attraction. Promotion only goes so far. People need to see others getting results.
It does give me an idea for another post. Thanks @niallon11.
Posted Using LeoFinance
No worries. 20% is my standard fee. 😂
Agree, first step is to list and promote our DeFi apps (hive engine, nft showroom, blocktrades) on hivedapps.com.
With all the popularity Ethereum is getting over DeFi, I keep wondering why Hive is not the place of choice as it presents characteristics of being a better host.
On the development side, we want it, we can't wait for it but the way I see it when this place starts getting busy we can hardly keep up even at present it is hard to keep up with all that is happening on Hive.
We need to list and promote our own DeFi apps (hive engine, nft showroom, blocktrades etc.) on hivedapps.com first.
That should be a move, at least making a move should give us some momentum in the DeFi space.
It comes down to exposure and the applications. Ethereum has a lot of eyeballs on it and the apps on there made a lot of noise quickly. Hive doesnt have an equivalent of Maker yet so we are stuck promoting what is so common to us: delegating, dlease, powering up, etc...
Posted Using LeoFinance
I believe Hive's time will come, we've got to keep building and putting our house in order.
I agree @joetunex. Putting our house in order is a big deal.
Make sure we are ready for the masses when they do arrive.
Posted Using LeoFinance
If anyone has an NFT they are trying to sell, don't forget to put an ad up on Hivelist! We are excited for all the NFT action going on for sure!
Hi @taskmaster4450,
Thank you for mentioning our new NFT market. Your support is much appreciated & we hope you like our service.
No problem. I am looking forward to your updates as they roll out.
Posted Using LeoFinance
The early mover advantage was not used by even bitshares which undoubtedly the first defi and similar fate has been followed by other chains in the family
True about Bitshares although there were a lot of issues including governance. It missed a golden opportunity.
Posted Using LeoFinance
Yep - an example how important marketing of any product !
I agree on governance issues and recently all the weird stuff around price feeds.
Cool, hope NFT Showroom and Hive-Engine get soon listed on hivedapps.com :)
Go Hive... To infinity and beyond!
I think most will start with a dollar and then go from there. 😁
Posted Using LeoFinance
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