If you’re an artist like me and produce artworks to mint as NFTs (non-fungible tokens) that can be sold for cryptocurrency on the blockchain, then you are part of the cutting edge of society at this point in history. And if you are not impressed by the overly excessive gas fees charged by greedy miners on the Ethereum blockchain, then you will be happy to hear that I have found another new outlet for NFT artworks on TEZOS. It’s called KALAMINT.
Whether you think the ETH miners are charging extortionist fees or not, nobody likes to pay such high tax. They are digging their own graves – or should I say mining them because new EIP (Ethereum improvement proposals) are emerging that will change the miner fee system and ideally scrap it when ETH moves to PoS (proof of stake) and away from PoW (proof of work). I am not prepared to pay the fees to launch my NFT shop on OpenSea or Rarible etc on the ETH blockchain because I am philosophically and economically opposed to the high miner fees.
This fee system is against the whole philosophy of cryptocurrency which is to empower the masses, not continue to stuff the pockets of those who are already wealthy. ETH is broken in my opinion and Vitalik Buterin and Co need to fix their broken system quickly. They are looking like con to me.
Until then we have other options, like the TEZOS blockchain where we can mint, buy and sell our NFTs without the excessive fees. That sounds like a nice slogan which I am promoting. If you want to use it you can, free of copyright.
NFTs WITHOUT THE FEES
It has a nice rhyme to it and appeals to the poet and wordsmith in me. KALAMINT appears to be the place where we actually have a community-owned public marketplace for our NFTs. Now I can make my art and not worry about agents wanting their pound of flesh, as in the old legacy systems where the artist is screwed by the middle men. ETH has become one of those middle men, denying especially the third world the use of OpenSea etc due to the high entry level gas fee. Who would have imagined?
At Kalamint the community has a say and the KALA utility token can be staked to actually receive a percentage of the platform fees which are used in payments. Artworks are still sold for TEZOS tokens but artists can join what they call “the Guild” and verify new artists quickly. Staking is incentivized and your voice is heard as a result regarding any proposals.
The KALA token is hard capped at 10 million and the tokenomics details can be found in this Medium article if you want more details https://kalamint.medium.com/kala-tokenomics-and-distribution-f7acc4970ed1. Of the 10 million, only 2.6% will be made available in the initial circulating supply and the system design looks quite water tight and legit to me. The NFT gallery already has several artists displaying their artworks for sale for anything from 1 TEZOS (($5,62) to 100 TEZOS and maybe more. You can mint 1of1 or multiple editions of your artwork if you like.
Both still image art and video format is accepted, as with any NFT platform and I plan to try minting some of my original artworks there. I will let you know how it goes. The NFT market may have cooled off slightly after the initial hype earlier this year, but the ball is rolling and art as well as blockchain technology has made massive strides forward with the NFT revolution.
At least there are alternative options to the extortionist ETH blockchain. I don’t like the way the system there has been hijacked by miners demanding such high fees, like highwaymen or galley agents used to do in the old legacy systems. It’s not a good look guys. So check out the TEZOS Kalamint gallery and let me know what you think.