(1/7) Awesome thread from @FNDdev that gives a lot more detail on how @withFND built their collections custom smart contracts. Well thought out, shows they have a close ear to the community, and it's built for the future. Here are my key takeaways 🧵👇
(2/7) First is that they are cheap to deploy. It may not seem like much, but with gas prices these days, it truly makes a difference. x.com/fnddev/status/…
(3/7) I happened to do a test yesterday (gas was about ~100 gwei) and noticed that it cost ~$1500 to deploy on Rarible, while it was only $75 to deploy on Foundation. That's 20x cheaper! This is a big deal. x.com/lifeofc/status…
(3/7) I happened to do a test yesterday (gas was about ~100 gwei) and noticed that it cost ~$1500 to deploy on Rarible, while it was only $75 to deploy on Foundation. That's 20x cheaper! This is a big deal. x.com/lifeofc/status…
(4/7) They accomplish through something called "proxies", which they describe in this tweet, but the key takeaway is that these are still legit ERC721 contracts. You are not getting a "lesser" product but totally equal. x.com/fnddev/status/…
(5/7) Next, you can do splits and collections TOGETHER, so basically you can collaborate on a collection with another artist and then automatically split the proceeds without having to do it manually. x.com/fnddev/status/…
(6/7) Finally, @withFND is doing everything they can to make sure royalties are paid out properly by working with royaltyregistry.xyz that @manifoldxyz started. There is still a lot of work to fulfill this promise of NFTs, @withFND is doing their part. x.com/fnddev/status/…
@lifeofc This is so huge. It will sneakily set a new precedent on building in royalty back doors for artists and more...