Cardano NFT: jpg.store – The Cryptonomist

This week’s guest on Cardano NFT column is one of them most used NFT stores on Cardano are working hard to support creators and build a great solution for users: jpg.store.

The previous guest was one The DID solution (Decentralized Identity) helps, among other things, with the verification of NFT projects.

This initiative is a reference point for NFTs on Cardano and every week or so we will invite someone to answer some questions and give us an update directly from the Cardano community.

Considering that many of our readers are new to the crypto space, we want one mix of simple and technical questions.

Cardano NFT Project: jpg.store

Hi, it’s great to have you here. Tell us something about your team

The team originally started with 4 team members, all friends from the same area. Which has grown into over 30 people spread over 5 continents and 10+ countries! Most of the team was brought in from the Cardano community.

Tell us the story behind jpg.store. How did the idea come about and what was your experience building an NFT marketplace on Cardano? Have you encountered any complications with the EUTXO model?

Our whole purpose is to support creators and empower the world with the power of NFTs so it means we keep our finger on the pulse. We simply focused on real empathy with our creator and user needs. Then we built the most exceptional experience that we would love to use ourselves based on the community’s valuable feedback.

Thanks everyone – Keep wowing us with your dream ideas, because we’re definitely taking note!

And sure, this may seem simple… but getting in “late” after other marketplaces have already gained significant momentum was pretty good risky and daring. Nevertheless, all it took was for us to claim the #1 NFT throne on Cardano commit to the immense empathy and passion we embody to support the entire NFT space. I guess people love it when you really see them and listen to their needs, so we’ll always be all ears for you.

Touching now eUTxO and build on Cardano.

Yes, Bitcoin and Ethereum are currently the top dogs, and we love them for starting this decentralized world we passionately build within. But what are the chances that the first attempts are actual the best solutions in the following years?

They built their best with what was available at the time. But Cardano understood that blockchain knowledge is increasing at the speed of light and there was a new way to innovate and advance in this space.

Instead of copying what had worked before, Cardano reimagined what the technology would look like if it were built from scratch todaywhile maintaining fast upgrade forever. It took all the lessons of the past, aimed hundreds of years into the future, and recruited all the brightest minds the world of academia and science had to offer.

This philosophy and the privilege of learning from its predecessors led to innovations such as eUTxO and proof of effort among other important advances. This new Cardano design is what really gets us hyped for the possibilities of NFTs and for the exciting future, JPG cares.

As with all new and advanced technology, there was definitely a learning curve, and that’s okay. We had to learn how to code with eUTxO and understand how it can create a better user experience. All of this took thoughtful consideration, but the payoff is so worth it!

Cardano NFTs now behave in ways other chains can only dream of. Here’s just a taste of the innovation so far:

• You can send dozens of different tokens and NFTs in a single low-cost transaction within seconds instead of 1 asset per transaction.
• Need to send multiple assets to hundreds of people? You can do it in a single transaction also!
• Cardano NFTs are “native assets”, meaning that they don’t need smart contracts to run. This increases security and keeps fees predictable.

All of this is standard for all Cardano users with no chance of being charged for a failed transmission. These are meaningful benefits and worth every challenge we overcame in working on this new architecture.

Now let’s connect it all with real life examples! Employers using Cardano can instantly send out entire payrolls to thousands of employees in hundreds of global currencies, all in a single transaction. Musicians with Cardano NFT collections can send all fans a thank you NFT, new song release and exclusive album artwork in one quick send. And maybe even governments will one day send out stimulus checks to all citizens that immediately appear in their wallets. In this way, future governments can choose it effectively growing the economy from the people up, instead of giving trillions to individual companies with trickle-down economics.

These are powerful things that other chains simply won’t be able to copy from Cardano. Our eUTxO architecture is different down to the core of its “DNA” and stands to be a game changer for the entire NFT industry.

What is the story behind your name? Why are so many people skeptical of this technology and what can be done to change this?

It refers to the “outsider” notion that NFTs are just JPGs. Our branding always has been playful and easily accessible as we want people to have fun in the NFT room.

Many people do not trust cryptocurrencies and NFTs, but they lack knowledge about these topics. To demystify this topic, we actively post educational content and guides on our social platforms so that every newcomer can have one positive experience and easily understand the misconceptions about NFTs and cryptocurrencies in general.

Congratulations on being Cardano’s #1 NFT marketplace by volume. What does the future hold? Where do you see jpg.store in 1, 5 and 10 years respectively?

Thank you! We envisions a great future for jpg.store and wants to be a major contributor to the growth of the NFT and crypto space.

Within 1 year we would like to have solidified our place as a player on the same level as marketplaces on Solana and Ethereum.

Within 5 years, we want to be the largest NFT marketplace in the worldsupporting creators in their NFT journey and presenting Cardano and its incredible vision to the masses.

We want to maintain this space 10 years from now, and by then we will hopefully have a large amount of work and partnerships under our belts.where we onboard the largest companies in the world to the NFT/crypto space.

Thank you very much for your time. Any last words? Where can people keep in touch?

We would like Thank you to everyone who has supported us from day 1 and shared the JPG when it started. The evolution and transition to a smart contract driven marketplace would not have happened without each and every one of you.

You can keep in touch with us in our Twitter profile and this spring Disagreement channel! All our links can be found here.

Disclaimer: The opinions and views of the people interviewed are their own and do not necessarily reflect those of the Cardano Foundation or the IOG. Also, this content is for educational purposes, it does not constitute financial advice.