IOTA: Send NFT Christmas Postcards to Your Loved Ones – Ecosystem Development Updates

• IOTA-based DEX Iotabee launches platform to allow members of the IOTA community to create and send NFT Christmas postcards to their loved ones.
• The platform utilizes several of IOTA’s unique NFT functions.

Iotabee, the first decentralized exchange on the IOTA network, has launched an NFT (non-fungible token) platform.

Iotabee announced in a tweet that the platform is special for the Christmas season. It allows the IOTA community to create and send out customized NFT Christmas postcards to their loved ones over IOTA’s canary network, Shimmer.

GM #IOTA society,
Would you be interested in sending out an NFT postcard to your loved ones this Christmas 👀#Shimmer #NFTs pic.twitter.com/4oyh6CEeNW

— Iotabee (@iotabee) 19 December 2022

The project is one of the latest arrivals to the nascent NFT ecosystem of the IOTA blockchain. However, it already leverages some of the very unique features that NFTs on IOTA have.

The NFT postcards only cost 1 SMR token to create and send. Minting is also free while the postcard will live forever on the immutable Shimmer network layer 2 blockchain.

These benefits are just some of the selling points of IOTA NFTs. Dominik Scheiner, co-founder and chairman of the IOTA Foundation, noted during an interview with CryptoCoinShow that IOTA NFTs have three main layers.

The first is free coining for IOTA token holders. The only payment involved in creating IOTA NFTs is for storage space on the blockchain. Similarly, IOTA links NFTs with its on-chain data. This allows IOTA NFTs to store their metadata on the blockchain and not on NPFS.

Meanwhile, the third team he noticed was NFT wallets. With the feature, one NFT can own several other NFTs. One use for this is for game NFTs where the protagonists of the game can own other purchasable assets or accessories as NFTs as well.

Shimmer Network has the rapidly developing IOTA ecosystem

IOTA only launched these NFT features with the launch of the Shimmer network last month. Shimmer network is a separate layer 1 network that has similarities to Polkadot’s Kasuma. The launch has introduced tokenization to IOTA. It also extends IOTA’s Directed Acyclic Graph (DAG) with an execution layer.

Scheiner explained during his interview with CryptoCoinShow that this means IOTA now supports EVM-compatible smart contracts. With this capability, IOTA has seen its decentralized application ecosystem, which did not exist before, come to life.

“Shimmer takes the good things from IOTA and adds new possibilities,” said Scheiner.

ICYMI: We interviewed @DomSchiener Chairman of the board i @iotaabout the launch of their Canary Network @shimmerneta layer 1 for launch #DeFi dApps, #NFTsand more.

You don’t want to miss this interview and launch!

— Crypto Coin Show (@CryptoCoinShow) 18 December 2022

More than 70 dApps are already building on IOTA, including several DeFi platforms and stablecoins, he added. He also revealed that IOTA has also launched initiatives to stimulate projects, including a dedicated support team called TouchPoint and a grant program.

EVM projects can also come over to IOTA now through a bridging partnership the network signed with Multichain.