A DAO for NFTs by NFTs — Mintable v2.0 — Dev Update 3
As we get closer to the launch of Mintable v2.0 on Ethereum we are going to be doing weekly dev updates and other exciting updates
Tomorrow we will release a fully write up on the new type of DAO, how it works, why we are doing, how you can take part, etc. Stay on the look out tomorrow.
Before we dive into what’s coming — what is Mintable …or what was it?
Mintable started as a tool to help anyone create, mint, and manage ERC-721 (NFTs). We were the first platform to allow anyone to make their own NFT and retain complete ownership over the smart contract, the first tool to batch mint NFTs and the first tool to manage your NFTs from any ERC-721 contract.
Now we are again changing the NFT space by pushing forward into a next generation for the NFT ecosystem.
Now Mintable is becoming a next gen NFT marketplace
Our v2.0 focuses mainly on providing a new type of NFT marketplace — one that mixes a series of web 2.0 marketplace features we are all used to, with the cutting edge technology of NFTs. We will no longer be focusing on providing a tool to manage NFTs, but instead focusing on helping creators and buyers trade and create NFTs. We are now focusing on being the most flexible NFT creator’s tool ever made, as well as the best NFT marketplace with features no other marketplace has.
With each weekly update we share some of the features coming up, and today we are happy to announce and share our NFT DAO.
A NFT ran DAO — introducing MINT
Mintable is going decentralized.
We have built the world’s first DAO that has no ERC-20 but instead voting is done via NFTs (ERC-721s). In this case, via MINT, a special NFT each person has in order to vote.
This offers a series of benefits to the user, as well as unique propositions for the NFT ecosystem down the road. This is like the early days of MakerDAO, a huge step forward for the creation of DeFi, but now for the NFT ecosystem.
Mintable NFT DAO:
- Completely novel — no one has created an NFT DAO before.
- No ERC-20, only NFTs .
- Voting power is earned directly via participation and engagement in the platform.
- Governance of future direction and features of the Mintable platform.
- Cannot be pumped and dumped as it is non-fungible, as compared to fungible ERC-20 tokens.
- Voting to add NFT contracts to a list of community chosen approved contracts (that give more votes when bought or sold than other contracts)
- Each person has their own unique NFT that can be sold or purchased.
- Ability to add yield farming/staking into the voting NFTs if voted upon.
- Ability to add revenue earning possibilities from our smart contracts if voted upon.
More on the DAO tomorrow, stay tuned and keep an eye out for tomorrow’s announcement
Next Gen Features
Reduced gas costs on everything
We have redesigned our smart contracts to reduce the gas costs on every transaction, but that’s not all we have redesigned. Our auction system doesn’t require any transactions to place a bid. It works just like ebay.
Auction system for any NFT
As you can see from above, there are three things for an auction on your NFT:
- Starting price
- Buy Now price
- Time left on the auction
The way auctions work are just like ebay. Bidding happens until the auction is over, or if someone buys the item immediately with the buy now price. Then the winner will have 2 days to make a payment and receive the NFT.
Promote yourself and your artwork
We have a ton of ways to sellers to promote their NFTs so it doesn’t get lost with all the thousands of other NFTs for sale.
We have a Go Pro section, where sellers can get media blasts, mentions in email newsletters, or even a custom nationwide press release for their creation.
We have a system for boosting listings on any NFT so that artists can get their content in front of the eyes that matter. On our zilliqa version, some boosted NFTs have been seen over 20,000 times!
Finally our DAO has a mechanism that encourages buying/selling from certain approved NFT contracts. So artists can make a case for the DAO and the community can vote to add their contracts or not. Giving big bonuses to people who buy and sell those NFTs.
We are working on a special creators university that has multiple classes on how to be an effective seller and make highly sought after NFTs. This is to help encourage and teach our users how to sell effectively.
3D Images, MP4, MP3s, any file unlockable
This is what 3D images (GLB files) load like on Mintable, fully interactive and able to be played with and seen in their full glory.
GIFs also are shown here, they play automatically.
MP4s also play when you press play.
MP3s and any other file type on your computer can be used as a private unlockable file that only the owner can access and download/see.
This week we have done a lot of work. Aside from the company biz work we have done, the software side of things has been super busy.
We have finalized the browsing experience/pages. The store/item listing pages, the smart contract interactions, purchasing NFTs from buy now, to placing bids on auctions.
Has been testing the browsing and listing experience. The bugs they found have all been fixed and overall the browsing and list pages are completely ready to go. The only thing left for the QA team to test is the purchasing of every type of item and the blockchain side of things (how much do they send, how many votes did they get from the DAO, how are royalties working, etc).
All these have already been tested before directly on the contract, but now we are testing from the UI side of things.
We have started the profile section after finishing the browsing/listing sections. The profile section is quite a cumbersome task, we have many many screens, with complex logic showing things from your history of transactions, to history of purchases, downloading files, boosting your listings, seeing your stores, editing your account, tracking your earnings, etc etc. So this will take us some time to finish, hopefully within the next 1.5 weeks it will be done.
Some of you may have heard we brought on a new person to the Mintable team — Creative director for Mintable — Mark K. He formally was the Branding/Creative Director for Zilliqa, a multi-million dollar company and successful blockchain company.
With him, we have also hired a new designer onto the team and are working on a brand refresh, and UI refresh. This is coming along very well and the designer has given us many new awesome UIs to implement.
He has redone the browsing pages, the profile section, the homepage, and more. We implement these changes as soon as we get them.
Finally, next steps:
Next week we will be trying to knock out as much of profiles as possible. We don’t have long left now, about 4 weeks until we want to go live.
We’ve made some minor adjustments to the contracts, changing the bonding curve and amount of votes given in the DAO.
Again — look out tomorrow for our complete DAO announcement and breakdown of how it all works and why you should be super excited for it.
This has been a long one — but a lot of things happened during the week.
Check us out and stay tuned for next Sunday’s update
Feel free to check out our old, v1 from 2018 at https://mintable.app.
The v2.0 marketplace for the Zilliqa blockchain at https://zilliqa.mintable.app (with extremely cheap and fast transactions).
Or our twitter at https://twitter.com/mintable_app
Get a discount card before we go live
We have been selling NFT discount cards that remove all the fees on our smart contracts since we went live back in 2018. It has really been helpful for supporting us and our project.
They won’t be available for sale after our update to v2 though, so if you don’t get one before we go live — you won’t have a chance to get one again.
They remove all fees from our contracts for life. Just need to have them in your wallet when interacting with our contracts. You can buy them directly on our homepage at https://mintable.app