Even with the market roller coaster this year, one thing remains the same: the new OnChain app flows steadily.
Some are fun, some are ambitious, but everyone is pushing the boundaries of open innovation.
These are some of the projects I've been tracking and worth a look. 👇
~~Analysis @wmpeaster ~~
👍Unchanged rating
I used to work at JPG, an NFT curatorial platform, and I had a sentiment with curators that organizing and retaining important things in the sea of information.
I think online space is hurting better curator tools, and in cryptocurrencies, this is more effective, with most infrastructure explicitly leaning towards finance.
But Onchain Tech has great coordination potential overall. You can place this potential in softer curatorial aspects such as surface and transparently documenting public sentiment.
The IR team is trying to try it with @Ratings_WTF (basically new OnChain rating app). The vision is to be a decentralized good/dislike level on all web platforms.
Currently, X, Worpcast and Wikipedia links are supported. If you want to try the app, you can click on an existing card with one click 👍 or 👎 or paste the URL into the search bar to create a new rating card on the spot.
Each rating creates a small amount of $tup(thumbsup) or $tdn(thumbsdown) tokens to the Ethereum hash hash hash hash inereum address on the URL, thus creating a permanent public sentiment ledger.
Remember that ETH costs per rating is small (approximately $0.11) to help prevent robots and support the project, and donate to Ethereum Core Dev through the Protocol Guild. If you want to dig deeper, check out the documentation here.
🧠Memory
If the constant rating is about curating public sentiment, then @MemoryProtocol is about curating your personal story and owning it.
This new protocol and application stack allows you to link wallets, social accounts and favorite content to build a portable map of your online identity. Memory allows you to assemble it all into a single "memory" you control, rather than spreading history on the platform.
Your followers, posts, likes, purchases, etc. can be moved with you via the internet, rather than just being trapped in a single app silo. Over time, you can even earn $MEM tokens when the platform requests data here, meaning you can benefit directly from your profile.
Currently, memory is in Alpha, only for early supporters, but public access is around the corner. If you want to know the future look of data that users have, it is now worth getting memory on radar.
🎊Panish (point) Fun
Mixed and second-order creation are another reason why crypto-open merge performance is so powerful. @panicdotfun is a new app that shows the truth.
Panic was created by the @DotFunLabs team (also lagging behind the finisher and Infector), and anyone can easily convert any basic or Ethereum NFT to coins via Zora.
Coins become a hybrid derivative of original artwork, with some of the supply and ongoing transaction fees automatically forwarded to NFT original artists without any effort. This is a new avenue for the licensed Onchain royalties.
What I like is 1) how panic can use coins to extend the source, ensuring that NFT creators anchor the value of their work inspired, while 2) it largely shifts the burden of styling experiments to collectors, which I think is an interesting and clever twist.
In this sense, panic is also mixing how we view attribution, liquidity and cultural ownership. The kind of thing I like to see.
Chonks Marketplace
I think @chonksxyz is one of the best NFT collections to fall in 2024. Not only is it completely Onchain and CC0, but this basic PFP project is also one of the earliest adopters of ERC-6551, namely the Token-Binding Account (TBA).
TBA allows NFTs to run as smart wallets, i.e., be able to do what a mature smart contract account can do. This includes the ability of NFTs to keep other NFTs in themselves.
In Chonks, we see this dynamic come into play as Project Body NFTS places favorite feature NFTs inside itself, resulting in customization and tradability. Want to exchange appearances? Just buy new features and fit OnChain.
What's the gain of this architecture? In traditional NFT markets such as Opensea and Magic Eden, Chonks sellers can technically strip their features out at the last second, thus freeing buyers from what they think they are buying, thus making their features technically stripped out.
To solve this trap, the Chonks team has built its own custom market from scratch. It is designed to prevent forward risk by automatically dropping any Chonk from being transferred when its features are transferred or moved.
Most importantly, Chonks Marketplace offers customized UX for trait traders, real-time metadata updates and lower fees compared to the larger NFT market. If you want to taste customizable your own Chonk, or just try TBA in general
