The growing wave of NFT adoption and the Lisk Foundation’s plans
Non-fungible tokens (NFTs) adoption is no longer a case of when but now a case of how big it can get. Pause for a moment and imagine a single tweet selling for up to $2.9 million or the digital artist Mike Winkelmann popularly known as Beeple, making history by selling his crypto art for $70 million in one fell swoop. It appears things are just getting started. In that case, the broader Lisk ecosystem has a lot to benefit from by providing support for developers seeking to explore this path.
Max Kordek, co-founder and CEO of LiskHQ, teased during an AMA session in February that the Lisk blockchain’s latest interoperability solution might accommodate its community’s demand on the possibility of creating a limited NFT token on Lisk.
The frenzy about NFTs is beginning to peak like the ICO fever in 2018 or the DeFi Summer of 2020. The possibility of creators unlocking enormous value from their work without necessarily passing through intermediaries means the proverbial middle class of the creator economy is becoming existent.
An NFT is a digital asset or a digital certificate secured on the blockchain an owner gets for owning goods or an asset that could be tangible or intangible. These assets range in the form of paintings, virtual real estate, postcards, videos, etc. The most crucial feature of NFTs is that they cannot be replicated or equated with an asset similar because every NFT asset is unique on its own.
Even with the blockchain maximalism that exists, most creators are agnostic about which blockchain offers them the ability to unlock value in the form of an NFT. They just want to unlock value in their art or maintain ownership of the digital certificate of any crypto art they acquire. For this, Ethereum as a public network garners outstanding attention to allow anyone to create and access NFTs.
So much can be said with just meme or arts or any other digital collectibles. But with the unlimited reach of social media also comes the tendency of creators not to get credit for their work. Expounding on that even more, virality without the simultaneous income boost doesn’t do many creators well. NFTs solve this issue.
As a growing public blockchain, Lightcurve continues to champion Lisk blockchain’s aggressive development with the highly anticipated Lisk core 3.0.0 currently in beta. Some of the improvements in this version include no organized groups, better DPoS algorithm closer to PoS, dynamic and therefore cheaper fees, new address system and consequently no initializations anymore, higher scalability in terms of TPS, better multi-signature system, and a tremendous amount of security, stability and technical improvements. Max Kodek speaking on this in a recent AMA in February, brags that
“This is likely the biggest hard fork a live blockchain has ever seen before. A consecutive improvement of the Developer Experience with blockchain application bootstrapping, new plugins, and many more big improvements for developers to build blockchain applications.”
Lisk has been in existence since 2016, building and offering value on web3 applications, which ushered us into the Fourth Industrial Revolution (4IR). Lisk Core 3.0.0 Interoperability solution set to be fully unveiled in the annual Lisk.js conference. Some of Europe’s finest developers and blockchain industry experts, alongside the Lisk team, will gather to discuss and reveal new features to help further Lisk’s blockchain adoption goal.
For more details on the Lisk.js conference happening on the 21st and 22nd of May 2021, visit the Lisk.js official page to learn more.