Chia NFTs are coming, and soon, to our blockchain a in a big way. I think because of the no-fee structure and green marketing, the Chia Blockchain is a perfect fit for artists looking to mint NFTs and try and sell them. The first NFT has been minted and there are a couple of contests for Chia related NFTs going on right now, that I will detail below. But first I’d like to talk a little about what NFTs are.
An NFT, or Non Fungible Token, is a coin or token on a blockchain that cannot be spent, hence non-fungible. That means once it is created it is permanent. The contents of that NFT can vary. For example, the actual first NFTs on the Chia blockchain are the pool contract NFTs that everyone using the on-chain pooling protocol use to secure their pool connectivity. But when people are talking about NFTs on the blockchain, mostly they are talking about art.
There is a lot of debate about how much owning an NFT confers, or even what it means, but let me take a stab at it. When you buy an NFT you are not buying the art itself, or the copyright to the art. You are buying the certificate of authenticity. So even though everyone else will be able to access that piece of art (through the correct viewers, more on that later) only a single wallet will contain the NFT that lists to it. In theory. It is also possible that a certificate of authenticity is not produced by the artist, and the same is true for NFTs. So you need to be careful, as always.
In practice, it is a hash value of a URI embedded into the blockchain which is associated to a file hosted somewhere that denotes an entry on an NFT marketplace like OpenSea.io or the upcoming Arbor Place. There is a lot of criticism against NFTs because of the objective disconnection from the underlying piece of art, but its a collectable. And collectable markets can defy logic to those outside them. And NFTs seem to be having their ups and downs as a collectable market, so I am approaching the whole thing with an open mind.
To that end, there are a couple of contests I am aware of right now for NFTs. The first is being by ChiaFarmers.io on Twitter and is giving away 10 Nucles in partnership with Nucle.io. That contest is running on Twitter and the NFTs are hosted on OpenSea. Details below.
The next contest is a contest to have one of the first NFTs minted on the Chia Blockchain. That contest is being hosted by Digital Farming Initiative (DFI) on their discord server here. Once there, head over to their #giveaways channel to click a button to enter into a contest ending soon for 0.25xch and also check out the #submissions channel to submit your NFT art or vote on the ones that are already there. If you want to see the below, sad, Chia Plot picture become one of the first NFTs please join their discord and follow this link to vote on my submission. Also submit your own and let me know!
It’s hardly to say beautiful;)