MUST READ! My vision of the NFT market together with #ZKSwap V3 NFT#

#ZKSwap V3 NFT#

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Hi ZKSwap :partying_face: I have written you a detailed report on my understanding of the NFT market, my vision of the current and future development of NFT, my thoughts on the problems arising in the NFT industry. And also my opinion on the relevance of the application of the NFT Layer 2 solution from ZKSwap.

The history of NFT tokens by the standards of cryptocurrencies began quite a long time ago - back in 2016 with the Rare Pepe Directory project and tokenized memes about the Pepe frog. Already in 2017, the Counterpart project became popular, and the real boom in this area began with CryptoKitties. A breakthrough novelty was the possibility of breeding seals: you take two NFT seals and produce from them NFT offspring of varying degrees of rarity, which you keep for yourself or sell.


As a result, with the help of NFT tokens, the developers solved the problem of securing the ownership rights of digital objects. For example, when buying new items or weapons for a game character, the user can be 100% sure that the new attribute will remain with him forever, unchanged. All information about the owner and his tokens is fixed in the blockchain. It is impossible to replace the data or erase the information.

In the future, NFT can be used for more tasks, for example Music, Podcasts, Blog Posts, Tweets, Domains, Maps, VR. I hope that the cooperation of ZKSwap and ZKBox will lead to the active development of these areas.

Among the positive properties of Ethereum, its security and decentralization can be distinguished, such qualities are very much appreciated, and many would like to store their funds and perform various operations with their funds in such a blockchain. But the speed of the blockchain leaves much to be desired. These are the problems that the Ethereum blockchain currently has: transactions in it are expensive and slow. As you know, expensive and slow transactions are very serious limitations for the NFT infrastructure. The natural solution to this problem is the departure of DeFi and NFT from Layer 1 to Layer 2. It is also important to create a common infrastructure that will allow you to seamlessly intertwine DeFi and NFT.

ZKSwap NFT Layer 2 is a solution designed to scale the blockchain by processing transactions outside the main network (Layer 1). Layer 2 works as an additional blockchain chain that runs on top of the main one. The point is that most transactions can be executed and processed in an additional blockchain, which works faster and cheaper, since it is not subjected to such loads as the main blockchain. At the same time, such functions of the main blockchain as security and decentralization will not be lost.

I expect the implementation of NFT Layer 2 on the ZKSwap platform to reduce commission costs and lightning speed when working with tokens. I think the whole community is waiting for this.