Mintbase : The NFT era has begun on $NEAR

The overaching goal of Mintbase is to the “Shopify of NFTs”,a place where anyone can easily create a store and sell from.

For too long have the middlemen ripped artists and content creators,NFT is changing the narrative. In desperation many artists have sold their creatures to art galleries for the penny and these art galleries have sold such arts for fortune,no more will this theft continue.

An artist can now enjoy the full and maximum profits of their creations,they may choose what their what they sell,how many copies and even have licensing and royalty rights.

Many contents that took a lot of time and hard work like music,articles,videos,images etc are freely copied and shared on the internet with the original creators profiting very little to nothing.

Before now,most content creators relied on the likes of Google adsense to monetize their content,the likes of MintGate is changing all that.

Before now,Mintbase was doing lots of transactions on Ethereum,events tickets were been minted and sold on mintbase,other NFTs been sold included arts,photography etc.

As DeFi on Ethereum surged,the transaction fees on Ethereum skyrocketed beyond the roof as well,before now it costed less than $1 to mint an NFT but due to high fees,creators were charged $100 or even more just to mint an NFT

The Mintbase team had no option but to pause everything and port their project to the NEAR blockchain.

Some Mintbase stats

201 deployed stores

10k minted NFTs

272 minters

7456 listed so far

  1. Fees : Like many users complain about minting NFTs or even buying or selling NFTs on Ethereum,the general consesus centers around that of high crippling fees.

Mintbase is built originally on Ethereum but same product is on the NEAR blockchain,NFT creators and traders(buyers and sellers) may choose which one to choose at any time. The transaction fees on the NEAR blockchain cost less than $0.0001.

2. Royalties : It allows for the sharing of royalties from an NFT sale to 20 maximum NEAR accounts.

This makes it easy especially for NFTs that belongs to a group of creators. A good example can be that of movies.

3. Permanence : Do not worry about the thought whether your creation will exist many years from now. Unlike many web pages that get deleted after a number of years,Mintbase stores all NFTs on the arweave blockchain.

Arweave allow users to store their files on its network permanent only for a one time fee unlike the likes of dropbox,google drive that requires recurring fees.

4. Forgery proof : Each NFT on Mintbase is stored on the blockchain,it has an unforgeable hash.

5. Eco-friendly : Energy consumption by many blockchains have recently become a thing of huge concern to many,Mintbase offers Eco-friendly NFT minting thanks to Near,a PoS blockchain that consumes very minimal power.

A lot of argument spread around by many people is that one chain will rule them all,I believe this is not true as the rise in transaction volume across the likes of Solana,Polygon(Matic) and Binance smart chain proved one thing : People will embrace solutions that benefit them.

Below are some reasons why the Mintbase team decided to build on the Near blockchain

1. Secure language : The choice of choosing Rust over solidity is a very smart one,though solidity is the most popular among blockchain developers,Rust is beginning to gain traction in the web3 community,it’s like Python and C++ put together in one language,it compiles to web assembly(WASM) and it is more secure and safer for writing smart contracts than solidity.

2. User experience : NEAR design offers a far more superior user experience compared to other blockchains,one do not have to deal with hexadecimal addresses like in Ethereum and other blockchains.

Near accounts can be easily created with any level of security a user is comfortable with and they are human readable.

While Ethereum addresses looks like hashes,NEAR accounts looks more like twitter usernames.

3. Near Dapps : users can be onboarded relatively with all ease to Near dapps as developers can pay for their NEAR account and even send them tokens

4. Rainbow bridge : Existing users with Ethereum can easily bridge them tokens thanks to the Rainbow bridge

Mintbase is the first NFT platform to completely run on two different blockchains(EVM + WASM) at the same time.

The company recently did a seed round of $1 million with the likes of Sino Global Capital among the early backers.

Mintbase team

Mintbase CEO Nate Geier in a recent article on coindesk also hinted about a possibility of a governance token been issued in the near future.

One can mint and sell NFTs like :

- event tickets

- music rights

- digital arts

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