It is a digital art and collectibles marketplace built on the Tezos blockchain (XTZ). In the following note we will detail its features and differences with other marketplaces.
One of the most relevant issues that NFTs and Web3 come to offer, is to empower creators, designers, collectors and developers, to be able to exhibit their creations and works worldwide, thanks to blockchain technology and a new model of economy.
What is objkt.com?
Within the services offered by its platform, we can find digital art, music, collectibles, game items among other types of virtual assets. One of its main objectives is to build one of the largest Web3 platforms for creators in the ecosystem.
Artists can tokenize their creations with a limited supply, each representing a piece of their work. Each token is minted into a collection, which is represented by a smart contract, where it is created by the artist himself. You can also set a certain percentage of royalties for each token.
For collectors, the platform offers a wide range of tools to collect digital assets, display them and even exchange them with other users.
One of its star tools is its user-customizable notification system, so that people interested in certain artists or creators never miss the opportunity to buy or sell a token at the right time.
Profile and Token Creation
In order to create a profile on their platform, they suggest that the user has a minimum of 0.3 XTZ in their wallet, because the creation of their profile on the Tezos blockchain costs a certain percentage fee.
Regarding tokens, the platform states that it is not possible to create two identical tokens, as the account may be blocked. In case you want to make a second identical token, you must ensure that the first one has been deleted or burned.
Prior to minting a token, the user must create a collection where the token will be hosted. The platform currently supports 6 types of tokens: image, video, audio, 3D, text (pdf) and interactive (zip format).
Have you ever heard about interactive tokens? You can find them on the objkt.com platform! They are basically a web page, in which you can use any language you use on the web and then compress it into a zip file.
An important fact in order to correctly mint the interactive token is that the user must make sure that the first file in the folder contains a file named”index.html”.
Why use a Tezos NFT marketplace?
The following are some of the reasons why many users prefer to buy, sell, collect and trade NFTs over the Tezos network:
* Lower transaction fees: compared to most NFT marketplaces, including those in the Ethereum ecosystem, the cost of mining NFTs and related additional fees are significantly lower.
* Decentralization: as with the Ethereum blockchain, Tezos is a decentralized blockchain that is run by its community rather than a single authority.
* Security: One of the strengths of Tezos is security. It has several levels of verifications, and uses OCaml and Michelson languages for critical missions.
* Environmentally friendly: since it uses the Proof of Stake consensus protocol, it uses less energy than networks using the Proof of Work protocol.
Written by Luciano Garriga (Tw: luchogarriga) for NFT Express.
IMPORTANT: NFTEXPRESS only publishes articles for informational purposes. Nothing herein contains the character of recommendation or promotion of any type of investment for the reader. Before making any kind of investment, it is recommended to consult a specialist in the matter.