NEW YORK – (BUSINESS WIRE) – Digital artists want to focus their energy on creativity, not code. Crypto-traders want an easy way to pack, move and trade entire portfolios efficiently. Developers want to easily expand current and future capabilities to their NFT projects. And they all want to do this reliably and at reduced cost.
At the NFT.NYC conference next week, CapsuleNFT will launch its web app and protocol in beta, with the aim of helping all participants in the NFT ecosystem achieve the above in the most efficient way possible. Conference participants will have the opportunity to receive items, NFTs and more at the conference while interacting with the CapsuleNFT project. (Details below.) CapsuleNFT beta is available as a preview on the project website.
The team encourages developers and artists to participate in the development of CapsuleNFT by following the project further Twitter and Discord, review the documentation, and watch short action videos on YouTube.
CapsuleNFT dramatically expands the capabilities of “composable NFTs”
The term “composability” refers to the ability of a digital asset or piece of software to behave like a building block, which simplifies the process of creating completely new works. However, current standards for composability in the NFT arena are difficult to use, poorly maintained and not well optimized for the NFT use case.
CapsuleNFT solves the composition challenge by offering a protocol and a simple interface that allows users to pack digital assets such as NFTs and tokens into a single NFT. From there, NFT can be transferred with its contained assets in a single transaction.
The CapsuleNFT code has been independently revised by Quantstamp. It has been optimized to reduce Ethereum transaction costs (eg “gas”) as well as developer time and resources.
CapsuleNFT offers a simple composition solution for participants in the NFT industry
“All toys are worth more in their original box, whether that ‘toy’ is a set of video game items, a piece of digital art, a portfolio of tokens or something else,” said Daniel Peter, co-founder of CapsuleNFT. “One of the many benefits of the Capsule Protocol is that it makes NFT collections – broadly defined to include art, cryptocurrencies and more – both provable and easy to build.”
For digital artists, applications can include:
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Detectable collections – Once a Capsule NFT is embossed into a collection, it can be demonstrably traced to that collection, even if it has been removed from it.
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NFTs with built-in floor price – A work of art can be packed with any amount of cryptocurrency, and determines the floor price. The holder of the capsule can redeem the art or the cryptocurrency, depending on which item they think is worth more.
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Music packaging and distribution – A Capsule NFT can contain an entire album of songs, an entire collection or even individual tracks that the owner can mix.
For games and meta verses:
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Digital Equipment Collections – A portfolio of assets in the world can be packaged in a Capsule NFT and transferred or sold.
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In-world vending machines – A Capsule NFT can contain a number of assets in the world and be represented as a vending machine, which can dispense, refill and more.
For DeFi and cryptofinancing:
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Initial NFT Offering (INO) – Projects can release their new token inside a series of NFTs in a marketplace, and require no upfront liquidity.
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Portfolio-as-NFT – An entire portfolio can be packaged as a Capsule NFT and transferred or traded as a single collection.
What to expect on NFT.NYC
At NFT.NYC, Capsule will have a branded vending machine located at the Marriott Marquis, Third Floor, next to the escalator. In exchange for following @CapsuleNFT Twitter account, participants can receive CapsuleNFT items or even an NFT. To claim the prize, participants can visit booth # 203 at the Marriott Marquis, fourth floor.
About CapsuleNFT
CapsuleNFT makes NFTs more composable and useful for artists, players, collectors, crypto industry participants and more. The CapsuleNFT protocol allows simple, elegant packaging of digital assets – NFTs, cryptocurrency tokens, etc. – that enables easier transfer and maximum creative freedom. Follow the project further TwitterJoin Discord discussions, review the documentation, or learn more about using CapsuleNFT on YouTube.
CapsuleNFT is an NFT infrastructure platform from Bloq, a market leader in Web3 infrastructure and applications. Follow Bloq further Twitter.
