10k NFT collection on Bitcoin, the great NFT migration? – SlateCast #56
On a recent episode of SlateCast, host Akiba sat down with OnChainMonkey’s Danny Yang to discuss various aspects of the rapidly evolving crypto space. The conversation covered topics such as his OnChainMonkey’s unique position in the Ethereum and Bitcoin ecosystems, the potential impact of his NFTs on Bitcoin’s blockchain bloat, and creator loyalty issues. rice field.
OnChainMonkey : Fusion of art and blockchain technology
OnChainMonkey was originally created as an on-chain generative art project in September 2021. This became the first on-chain PFP collection created in his single transaction on Ethereum. However, the project quickly evolved into a community-driven effort focused on empowering communities around the cause through NFT technology.
The community behind OnChainMonkey follows a set of core values known as RISE: Respect, Integrity, Sustainability and Prosperity. These values guide our actions as we work to positively impact the world through our initiatives.
Bitcoin NFTs: Expanding the Value of Blockspace
With the growing adoption of Ordinal, a protocol that allows NFTs to be minted directly into Bitcoin, Danny Yang believes that by securing high-value digital assets such as art and collectibles alongside Bitcoin, Blockchain will continue to grow. Demonstrated enthusiasm for expanding the value of space. He believes this development will encourage more users to run full nodes to secure their chains.
Yang also mentioned how his team uses just 20 block storage units to store all 10,000 images from the collection.
The Loyalty Debate: Adapting Business Models
In our podcast, we discussed recent developments regarding loyalty to creators within the NFT space. Platforms like Blur are actively exploring ways to aggregate royalties or remove them entirely. Yang admitted that the situation is a “battle” between collectors, creators, his members of the community and traders.
However, he remains optimistic about the future of loyalty in the industry. While acknowledging that the lack of loyalty will lead creators and communities to adjust his model of business, Yang believes new solutions will emerge to address these concerns.
Future projects of OnChainMonkey
Going forward, OnChainMonkey has several exciting projects lined up. They plan to release a “passport to the wealthy digital nation” that will give members access to valuable resources and experiences. In addition, art his collaboration with generative artist Alexei Andre is also planned. This collection uses the DNA of OnChainMonkey’s existing creations to create striking new creations.
As cryptocurrency enthusiasts continue to navigate this complex landscape, conversations like those on SlateCast are extremely informative about new technologies and their potential impact on many aspects of our lives. provide valuable insight.
Don’t miss this captivating episode of SlateCast by watching the full podcast above. Danny Yang elaborates on his OnChainMonkey project and shares his thoughts on other important developments within the crypto space.