NFTs going live!!!

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Ok, well, we've been talking about this and planning it for what seems like forever, but it's finally starting! We're planning on bringing NFTs live this Monday!!!

@yabapmatt put together the initial scope of work
@cryptomancer has done an excellent job coding the contract.
@beggars working with @bait002 and @lion200 have coded up the site for creation and the market. She's lookin' great!
@harpagon is going to update the node and get this baby working.

Logistics

We're planning on updating the contract and the nodes on Monday around 10-11 am Eastern. This could lead to some down time as we upgrade the site for NFTs.

If you're planning on doing any major trades I suggest you steer clear of Monday.

Once the node is back up we should be up and running. There could be problems, and it's worth noting that @beggars who leads the site development is on the other side of the world. So, if there are some challenges it may take a few hours simply due to timezones to get everything working right.

Anyway, we're expecting NFTs live on Monday and potentially some "chop" as we switch everything live.

What are NFTs?

NFT stands for non-fungible token. Tokens like bitcoin and steem are fungible. If I send you steem you don't ask me "which steem did you send?" because they are all the same.

If I send you a Splinterlands monster you might ask "which one?" And if I say "Lord of Darkness" you might even ask again "which one?" and then I could tell you the exact ID of that one specific card because they are all different and uniquely tracked. When the tokens are all different like that they are NFTs.

What we're adding is the beginning of a new age for Steem-Engine where NFTs are available. Personally, I think this will have a big impact on Steem as a network too!

What can I do with an NFT?

NFTs can represent anything that needs to be kept track of with its own ID.

You could trade promissory notes for gold bars tied to individual serial numbers and track each token for each gold bar (or portion).
You could track mortgages.
You could track titles to vehicles.
You can make games with collectable components like card collections or inventories for RPGs.
You can create and collect art.
You can enable things like" can Jimmy watch this video?" based on token ownership.
You could register the birth of people.
You can form a club with different tokenized roles.

That's just what you can do with these off the top of my head!

Why would I do this on Steem Engine?

On Steem-Engine creating NFTs are relatively inexpensive. There's a starting cost, and some fees for upgrading them with things like staking, but the fee per token is set to be 0.001 ENG. That's cheap. For Splinterlands we minted 4.5M cards in the beta edition. That would cost 4,500 ENG, which is ~$450. Considering that 900,000 beta packs have a face value of 1.8M dollars it's a small price to pay.

Transactions themselves are free. Yes, there is a market, yes we will charge a fee for trading (5%), but to give tokens back and forth or to trade privately is free. So, one example that comes to mind is another game on another chain, where the common cards are worth less than the transaction fees to transfer them (let alone the exchange fees too). Here you can list the cards for free,, send them for free, and moving things around just costs a few resource credits that automatically regenerate over time (as long as you have some steem power on the account).

We can scale. Imagine if just one game was enough to bring your entire network to a standstill. Well, Steem is actually really well setup to grow. With MIRA on the backend shoving data out of ram and onto the hard drive, Communities on the frontend allowing for cheap interest groups to form, and SMTs coming along with Tribes there's a lot of opportunity to build businesses and communities here with a chain that can handle the growth.

Any way I can get involved?

Sure, as of Monday you can create and trade NFTs.
If you want to build an exchange you too can tap into the market fees as the whole thing is a dex and more than one website can get in on the trading.
If you're a dev you can build your game or project using these NFTs.

Why the fee?

As much as I would love to make everything free it costs money to develop things. There are fees on token creation. They are very inexpensive compared to other alternatives. There are market fees. We're setting them to 5%. This is in part to make sure there's enough incentive for us and other groups to build and maintain markets.

Ok, well, please be patient with us on Monday, and come celebrate by making your own NFTs

Should be fun!



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Great news!
@tipu curate

Posted using Partiko iOS

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Sir What is nft?

Replay Me.

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aggroed has already explained in his post:

What are NFTs?
NFT stands for non-fungible token. Tokens like bitcoin and steem are fungible. If I send you steem you don't ask me "which steem did you send?" because they are all the same.

If I send you a Splinterlands monster you might ask "which one?" And if I say "Lord of Darkness" you might even ask again "which one?" and then I could tell you the exact ID of that one specific card because they are all different and uniquely tracked. When the tokens are all different like that they are NFTs.

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Good work to the team bringing us the NFTs and what will hopefully be a big utilisation of them in RPG/blockchain games especially. Being able to trade items and sell them will help create more appeal for players wanting to get into a game, so long as the game is something they will enjoy normally and is a good game to play.

I am keen to see what NFTs will be popping up first and how it all works through Steem Engine!

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This is HUGE.. I have been excited about this since I heard about it! Great work team. I am stoked to see what everyone comes up with using NFTs!!

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So, I'll be able to make my own NFTs and upload them to your markets -- similar to memefactory.io or opensea.io for Ethereum NFTs?

And you'll share a post with the link to the location where I can do that using ENG?

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Steem Engine team keeps on crushing it! Keep up the great work.
(Thinking of a master plan)

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Sorry... what is nft?

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NFT is unique token normally you can see in ethereum blockchain

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Sounds like fun. Always love the concept of NFTs and I believe it being one of the key drivers for cryptocurrency mass adoption. Happy to see Steem having its own version of NFT platform through Steem Engine.

Great work team!

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Awesome work and update! The possibilities are endless! Really really coooool

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Cant wait to work my head around this

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Again a great development. Thanks to the team and masterminds.

Rest a bit and have a sip of !BEER as we soon have many different beers as NFTs available.

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Hi, @aggroed!

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Hey @aggroed I've got a crypto media outlet interested in talking to you, I DM'd you on Discord but please let me know if there's a better way to reach you.

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What is NFT?
Please Replay Me.

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I could see @thecastle making use of this in one of his games...

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The only limitation is that Unreal 4 needs to be able to function properly with Steem blockchain. Same limitation I have always had honestly.

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I wonder if there's something in API for Steem that could make something like that feasible... Hey @chiren, where would I find the Steem API?

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Hopefully I will be able to wrap my oldish mind around this.
Please, will there be tutorials for dummies ??

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✔✔✔✔ please visit my posts

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@aggroed, Great news brother and in my opinion Monday is a Celebration day then. Good wishes from my side and let's hope that this will going to become the next big thing. Stay blessed.

Posted using Partiko Android

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interesting will try to work my way around learning more about NFTs and how we can integrate it in our new business model

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I have a question. How did steemmonsters work so far? Couldn't this already be implemented in the steem block chain before? Forgive my ignorance. Greetings.

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This project for Warrant Canaries was featured on Steve Gibson's Security Now podcast this week.

I'm not tech enough to know but it sounded like something that NFTs or a some other part of the Steem infrastructure could handle brilliantly. They're talking about storing information in JSON format in a decentralised and cryptographically signed manner. Just wondering if anyone here is tech enough to get involved.

https://github.com/canarytail/standard/blob/master/README.md

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Great things to come but I'm still not sure how this benefits me. Will wait to Monday to find out, but I do hope it means something to me. Don't know much about NFTs

Posted using Partiko Android

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That is pretty awesome! But this information needs to go beyond the walls of the Steemit platform. Only then will its full potential be unleashed. Oh well, I will start by tweeting this page.

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Sweet, NFTs on Steem opens up a lot of neat things people can do. Looking forward to see what happens with them.

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I will try and create some decorative and EULA compliant Minecraft NTFs once it is out. =)

Can I issue new NFTs on the fly or do I have to create all NFTs in advance?

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Very exciting. My mind is exploding with NFT ideas!

Great work team!

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