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LNP-BP / presentations

Slides, visuals and video links that explain Bitcoin L2/L3 technological stack development, curated by LNP/BP Standards Association
https://www.youtube.com/c/LNPBP/
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RGB-21: Feedback on Ticker question #28

Closed ctramount closed 3 years ago

ctramount commented 4 years ago

Ethereum uses ticker-based "Collections" for their NFTs architecture. From my understanding, minted ERC721 tokens must be minted to a collection. They're nice for organizational purposes e.g., artists can mint all NFTs to their personal collection making their entire portfolio easy to query. However, collections create friction because they are expensive to mint ($10-30 USD at current gas levels).

It seems a large part of Rarible's success can be attributed to allowing issuers to mint to their collection "RARI" (https://app.rarible.com/create/erc721) with minimal gas fees, whereas Opensea required issuers to mint a collection (They've just recently launched a product to bypass this: https://opensea.io/storefronts-staging).

In sum, collections are worthwhile as long as they can be minted with minimal fees. An optimization feature that's not available on Ethereum could be to allow Collections to be shared among multiple issuers. An example in which this can be useful is with art collectives and collaborations.

UkolovaOlga commented 3 years ago

Feedback has been moved to the corresponding discussion https://github.com/LNP-BP/LNPBPs/discussions/77?converting=1#discussioncomment-200697