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Tezos (XTZ) is built to adjust, adapt, and add features and functionality through its proven on-chain upgrade mechanism. The consensus model is Proof of Stake and therefore is considered energy efficient. Tezos has features in place to avoid hard forks. Due to the on-chain governance model, the protocol amends itself when the upgrade proposals get a favorable vote from the community. Michelson is the domain-specific language for the Turing-complete smart contracts.
Tezos is has a strong NFT community. The blockchain platform provides for Dapps, DeFi, NFT, Protocol, Education, Tools, Wallet, and more. Tezos blockchain is serving as the hotbed for NFTs.
Minted is the new NFT platform which is getting developed on Tezos. Minted focuses on distinguishing itself from the existing NFT platforms by simplifying the minting process. In addition, they are adding leaderboards and rarity tags. Thus, offering shares in fine art and physical assets.
The problem they say with the already existing NFT platforms is that the platform is not very intuitive. The Minted platform is expected to make navigation and usage intuitive and less complex.
Minted, the NFT platform will combine the familiarity of social media with the unlimited potential of NFTs. Thus, apart from creating, selling, collecting, and showcasing NFTs, it will be a platform where people can interact and post-normal text and images.
Minted is all set to combine the power of NFTs with social media. Every user will have their profile to show off the NFTs that they have created and collected. The focus is to provide for a network of like-minded people.
While the currency for the Minted Platform will be XTZ, during the later stages, support for Tezos stable coins will also be provided.
Minted will also allow users to create auctions, where the NFTs can be exposed for price discovery. Since the minted platform is built on the Tezos blockchain, the bids will cost low fees for the users.
The Leaderboards in Tezos (XTZ) will rank: 1. Most NFTs sold (by total XTZ revenue). 2. Most NFTs collected (by total XTZ spent). In addition, it provides for rarity ranking leaderboard for creators and collectors. Each rarity tag will have a score that helps us compute the aggregate ranking.
Rarity Tags will have 5 ratings. Using the Rarity Tags, users will be able to see in a glance the artwork, the nature of their rarity, and uniqueness.
