The non-fungible token (NFT) market has been on the rise recently. It wasn't until some big artists decided to use the Ethereum ERC721 and ERC1155 protocols to create digital artwork with the help of smart contracts of the Ethereum blockchain.
Ethereum has been congested for a long time but still is the most popular blockchain used for digital art and NFTs, however, there are signs of this changing.
Developers have been experimenting with more networks recently, such as Tron, Binance Smart Chain, and Bitcoin Cash that offers faster and cheap transactions. The NFT market requires low fees for many reasons. For art-collectors, $200 in fees may mean nothing, but it is not the same for all the simple users that would like to get involved.
Bitcoin.com in this article offers a guide on creating and trading NFTs on the Bitcoin Cash blockchain and the BCH NFT field has started attracting the first digital artists.
Juungle.net
Juungle.net is a new NFT marketplace created exclusively for BCH-based NFTs. It has a very friendly interface and it is very fast and reliable, anyone that has an interest in NFTs should give it a try.
The main NFT marketplace currently is OpenSea which is mostly concentrated in Ethereum NFTs, but since there have been many new projects with NFTs native to Bitcoin Cash, it was a matter of time before a new NFT marketplace was created.
Juungle.net is in alpha testing and still developing. The NFT field in Bitcoin Cash is still in an early stage but there have already been created some very interesting projects like Waifu.
The interface is user-friendly and it is easy to understand how to use the marketplace. Juungle.net is still in development and the first signs are encouraging.
It offers search options using the collections listed and sorting with many options available.
What I think is missing is a description of the collections and some more information about the artist, or the creator of the NFTs, as well as more information about the token.
This is an NFT illustration of one of my favorite actors of all time, David Carradine, created by the digital artist Justin Luis Vargas (JLV).
Clicking on the Verify option will open the website Simpleledger with a description of the token.
I have used OpenSea a lot for a few years and it wasn't looking better than Juungle when it was in the first steps. Juungle may be very simple but we need to remember that it is not a ready product and still it makes a very good impression.
As a personal opinion, I always found the NFT world interesting but mostly for gaming. This is where I see a huge potential for the gaming and crypto industries to thrive and when combined they can begin a gaming revolution. Fortunately, lately, there are a few attempts by Ubisoft, but I haven't seen anything substantial yet. All recent attempts I have seen are low budget and having very little use case for NFTs inside games.
Ethereum which has a strategic position in the NFT world sadly is impossible to scale. I doubt that ETH 2.0 will be any better to become an efficient database and it can easily take a decade before it is ready. Since Ethereum can't afford to scale there is a need for efficient blockchain systems. Bitcoin Cash offers an efficient and decentralized environment.
Most developers fail to see that behind any hype in Ethereum are the BTC and ETH whales that create artificial interest and as with the ICOs, now with NFTs, there is a formation of a bubble.
I have to suggest to the smart contract developers to look for once beyond Ethereum and find opportunities where they weren't so far. Try Bitcoin Cash, even Tron, or any other blockchain that can afford cheap and quick transactions. Ethereum is a long shot for anyone that doesn't have connections and a huge marketing budget. I have seen hundreds of good ideas becoming unsustainable only because of unstable and very high ETH fees.
Screenshots from: Juungle.net
Lead Image: Source
It is such a pity that one cannot create at this stage on there. I wonder how long it's going to take?