Popular artist Spacebrat released an open source version of NFT using an innovative new technology last week. She partnered with CXIP Labs to allow fans to create a free NFT using several different blockchains. How did Spacebrat manage to release an NFT on multiple chains at the same time?
The artist Spacebrat made a splash with his first contribution in Web3 last week Image credit: Voyage LA
How did Spacebrat issue an NFT on multiple blockchains?
Collectors minted Spacebrat’s free open-issue NFT titled “Gleam” over 300,000 times in a 48-hour window. Part of this success stemmed from Spacebrat’s partnership with the Holograph platform for its release. Developed by CXIP Labs, the Holograph protocol allows a multi-chain approach to owning digital assets.
Using Holograph, Spacebrat was able to release “Gleam” on Ethereum, Avalanche, BNB Chain and Polygon. From there, holders can bridge NFT from chain to chain whenever they want. CXIP Labs describes NFTs minted using Holograph technology as assets “that exist as single instances across multiple execution environments”.
Spacebrat was surprised by the overwhelming interest in the piece. Halfway through the mint, she took to Twitter to post: “Can’t believe planet Earth minted my first NFT 30,762 times in the last 23 hours. You guys are on another level!” After her tweet, the coins skyrocketed with a majority of the purchases coming from Polygon users.
Spacebrat’s “Gleam” was streamed over 300,000 times last week Image credit: Decrypt
Free mints have always come with a caveat – minters still have to pay for gas fees. Due to Ethereum’s current lack of scalability and consequent high gas fees, this means that collectors are still paying anywhere from $20-$100 for a “free coin”. Enter the Holograph.
By using Holograph, miners can take advantage of cheaper options for acquiring NFTs. Unsurprisingly, miners chose Polygon’s low-cost Layer 2 blockchain to create 203,000 of the 301,798 NFTs. Avalanche and BNB Chain saw 53,000 and 46,000 mints respectively, while Ethereum came in at a paltry 82 mints.
These numbers are not surprising given Ethereum’s exorbitant transaction costs. Gas fees have increased recently due to a crazy increase in meme coin trading. Collectors can use Holograph to secure the piece using a cheap blockchain like Polygon, and if they ever feel the need, they can pay the necessary gas costs to bridge it to Ethereum.
Who is Spacebrat?
Spacebrat is a highly respected artist whose work has been featured in Vogue and Hypebeast. Her artwork, including “Gleam,” was also recently featured in the New York gallery WHAAM! during her solo show, “Pipe Dream”. In addition, she has designed murals for Virgil Abloh’s OFF WHITE and worked with Drake in the past.
This NFT marks her first entry in Web3. The coin’s breakout success caught many off guard – Holograph previously launched an NFT in April that showcased Dan Witz’s “Most Pit 2000” and minted just 444 pieces for $45. Even though Spacebrat’s NFT were free to mint, eclipsing 300,000 minted NFT is still an astonishing achievement.
Collectors can purchase “Gleam” on secondary markets such as OpenSea. NFT has unique pages for each chain, giving buyers an easy way to buy using whichever blockchain they prefer.
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