In a recent episode of SlateCast, presenter Akiba sat down with Danny Yang of OnChainMonkey to discuss several aspects of the rapidly expanding crypto space. The discussion covered topics such as OnChainMonkey’s different role in the Ethereum and Bitcoin ecosystems, the potential impact of NFTs on bitcoin blockchain bloat, and the contentious issue of royalties for authors.
OnChainMonkey: Combining Art with Blockchain Know-how
In September 2021, OnChainMonkey was founded as an on-chain generative artwork competition. It became the first on-chain PFP collection minted in a single transaction on Ethereum. Nonetheless, the challenge quickly evolved into a community-driven venture centered on strengthening communities around causes utilizing NFT know-how.
OnChainMonkey’s neighborhood adheres to essential ideals known as RISE – Respect, Integrity, Sustainability, and Enrichment. These beliefs guide their behaviors as they strive to impact the world through their efforts positively.
Bitcoin NFTs: Increasing Block House Worth
Danny Yang expressed his excitement about raising block area worth by protecting high-value digital property such as artwork and collectibles alongside Bitcoin as popularity for Ordinals—the system that allows NFTs to be minted directly onto Bitcoin—grows. He feels this enhancement will encourage more consumers to operate full nodes to secure the chain.
The Royalties Debate: Changing Business Fashions
The episode discussed current developments in the NFT field involving royalties for creators. Platforms such as Blur actively seek ways to combine or eliminate royalties. Yang stated that the current situation is a “battle” between collectors, artists, community members, and merchants.
Nonetheless, he remains optimistic about the future of royalties in the industry. While Yang acknowledges that the absence of royalties will cause a shift in business models for authors and communities, he believes that new choices will arise to address these concerns.
Upcoming Tasks on ChainMonkey
Looking ahead, OnChainMonkey has several exciting projects planned. They intend to launch their “Passport to the Rich Digital Nation,” giving members access to precious assets and experiences. Furthermore, a collaboration with generative artist Alexei Andre is on the horizon. The gathering will generate outstanding new goods by combining DNA from OnChainMonkey’s present works.
As crypto enthusiasts continue to navigate this complex landscape, chats like those on SlateCast provide essential insights into emerging technologies and their potential impact on various aspects of our lives.
Don’t miss out on this participating edition of SlateCast by listening to the podcast in entire above, where Danny Yang goes into greater detail about OnChainMonkey’s projects and provides his thoughts on other significant events in the crypto sector.