CapsuleNFT makes it easy to consolidate NFTs and cryptocurrencies into a single NFT, unlocking powerful possibilities for artists, developers, gamers, merchants, and more.
NEW YORK–(BUSINESS WIRE)–#NFT–Digital artists want to focus their energy on creativity, not code. Crypto traders want an easy way to package, move, and trade entire portfolios efficiently. Developers want to easily expand the current and future capabilities of their NFT projects. And they all want to do it reliably and affordably.
At the NFT.NYC conference taking place next week, CapsuleNFT will launch its web application and protocol in beta, aiming to help all participants in the NFT ecosystem achieve the above in the most efficient way possible. Conference attendees will have the opportunity to obtain merchandise, NFTs, and more during the conference while interacting with the CapsuleNFT project. (Details below.) The beta version of CapsuleNFT is available for preview on the project’s website.
The team encourages developers and artists to participate in the advancement of CapsuleNFT by following the project on Twitter and Discord, reviewing the documentation and watching the short how-to videos on YouTube.
CapsuleNFT greatly expands the capabilities of “composable NFTs”
The term “composability” refers to the ability of a digital asset or software to behave like a building block, simplifying the process of creating entirely new works. However, current standards for composability in the NFT domain are difficult to use, poorly maintained, and poorly optimized for the NFT use case.
CapsuleNFT addresses the challenge of composability by providing a simple protocol and interface that allows users to aggregate digital assets such as NFTs and tokens into a single NFT. From there, the NFT can be transferred with its contained assets in a single transaction.
The CapsuleNFT code has been independently audited by Quantstamp. It has been optimized to reduce Ethereum transaction costs (e.g. “gas”) as well as developer time and resources.
CapsuleNFT offers a simple composability solution for NFT industry participants
“Any toy is worth more in its original box, whether that ‘toy’ is a set of video game assets, a piece of digital art, a token wallet or anything else,” said Daniel Peter, co-founder of CapsuleNFT. “One of the many benefits of the Capsule protocol is that it makes NFT collections – broadly defined to include art, crypto-assets, etc. – both provable and easy to build.”
For digital artists, applications may include:
- Provable Collections – Once an NFT capsule is hit in a collection, it can be provably traced back to that collection, even if removed from it.
- NFT with built-in floor price – A work of art can be packed with any amount of cryptocurrency, setting its floor price. The Capsule holder can redeem the art Where cryptocurrency, depending on which item they think is worth the most.
- Packaging and distribution of music – An NFT capsule can contain an entire album of songs, an entire collection, or even individual tracks that the owner can mix.
For games and the metaverse:
- Digital Asset Collections – A portfolio of assets in the world can be packaged into an NFT capsule and transferred or sold.
- World Vending Machines – An NFT Capsule can contain any number of world assets and be represented as a vending machine, which can dispense, refill, etc.
For DeFi and crypto-finance:
- Initial NFT Offering (INO) – Projects can release their new token inside a series of NFTs on a marketplace, requiring no initial liquidity.
- Portfolio-as-NFT – An entire portfolio can be presented as an NFT capsule and transferred or traded in a single collection.
What to expect at NFT.NYC
At NFT.NYC, Capsule will have a branded vending machine located at the Marriott Marquis on the third floor, next to the escalator. In exchange for following Twitter account @CapsuleNFT, participants could receive CapsuleNFT products or even an NFT. To claim the prize, participants can go to booth #203 at the Marriott Marquis on the fourth floor.
CapsuleNFT makes NFTs more composable and useful for artists, gamers, collectors, crypto industry participants, and more. The CapsuleNFT protocol enables simple and elegant packaging of digital assets – NFTs, cryptocurrency tokens, etc. – allowing for easier transferability and maximum creative freedom. Follow the project on Twitterjoin the discussions on Discord, check out the documentation, or learn more about using CapsuleNFT on YouTube.
CapsuleNFT is an NFT infrastructure platform from Bloq, a market leader in Web3 infrastructure and applications. Follow Bloq on Twitter.
CapsuleNFT Media Relations