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The State of NFTs on BCH (SLP)

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Avatar for VideoGameDana
Written by   69
1 year ago
Topics: NFTs

This is coming from the point of view of a seller, a marketer, and a slight artist, if you would give me that much credit. I make NFTs for my clients, and on rare occasions, now for myself as well. I went into this venture with a sell-only mentality, and as much as I would like to boast that I was able to stick to that, I would be lying if I did.

Here are some NFTs I currently own. These are all on the Bitcoin Cash blockchain:

This one may have been created with MS Paint and may have a misspelling in it, and was probably made for the lulz. But it had a message that resonated with me as I sat there, minting NFTs like a madman.
Not trying to be political, but I LOVE AOC. And yes, I know this was made to make fun of her, but I saw something with her on it for a low price. I spoke with the creator of this set of cards and it didn't surprise me when he stated he was trying to get a reaction out of his audience.
This is part of a raffle set. It's still going on as of me writing this!
This one just blew my mind. I love the art on this, and little did I know that this is a sort of raffle card as well! Last I checked #10/10 is still available at its original price but everything else has either been sold or otherwise distributed.

I wanted to be able to confidently say that I supported the new NFT industry that I so desperately wanted to embrace me and my artists. Without a lot of money, I had to focus on NFTs that had a low initial value. But then that's where everything starts getting mucky. When you start using the word, "value", it stirs up some arguments. It all goes to the beginning of Juungle:

This is a Waifu from Waifu Faucet. These were initially some of the few items available on Juungle.

The Waifu were procedurally-generated characters with their own stats and unique looks that took advantage of a very specific niche. I wouldn't blame Waifu fans if they thought of Juungle as "The Waifu Shop" because that's probably what it was to most of them back then.

Then the floodgates opened:

Fluffy Pony series, Cryptor.at series, REPT series, and ZOMBIE NFT series, all presumably procedurally-generated content.

There still seems to be some sort of market for Waifu. There lies a tale of a mystical whale who loves Waifu and is picking them off one by one. But when Juungle was injected with the rest of the procedurally generated NFTs, some of the Waifu lovers felt slighted because their niche market had suddenly opened up to the wide world of just about everything. On top of this, due to the mathematical essence of procedurally generated content, there is so much of it that it effectively drowns out the non-procedurally generated stuff. This was mitigated for a bit when @blockparty-sh and his team completely overhauled the front page, but the sellers quickly figured out that if they simply continued their old habit of withdrawing and relisting their NFTs, they could game the system into forcing their procedurally generated content to the front page.

Despite the technical hang-ups and growing pains, one huge issue that can't be ignored is the fact that other blockchains have huge head-starts over BCH when it comes to NFTs. At first, I thought most of the BCH community would be excited about NFTs. But the truth is that even Roger Ver and Marc De Mesel have recently in interviews expressed that their interest in NFTs is nonexistent. For some reason I thought they would have seen it as a form of adoption worth supporting. I can't speak for them, but going off those interviews, I'd guess that they don't have Zapit wallets installed on their phones.

The truth be told, there's a lot of high-effort work on Juungle, and there's some questionable work as well. I will still be marketing on Juungle and minting NFTs on BCH, but I'm now looking at the WAX model. I wish WAX took BCH but it is its own ecosystem. They seem to have a market that BCH doesn't have right now when it comes to NFTs. I haven't been able to really put that to the test yet, though. One of my artists is even toying with the idea of putting one piece on OpenSea. So we will be weighing our options.

In the meantime, please follow my pro-tip for Juungle if you pay them a visit: At least for the time being, if nothing catches your eye on the front page, check out the collections. There you can gauge the quality for yourself. I still have high hopes for BCH overall outside of NFT. But the uphill battle it currently has in the NFT scene is kind of brutal, and I can tell you that the Juungle team has been working their asses off on the site. They're constantly updating it and I know a lot of work is going on behind the scenes. There's no way in hell I could lose faith in them. I just wish I could afford to wait the market out, but I can't.

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Avatar for VideoGameDana
Written by   69
1 year ago
Topics: NFTs
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Comments

Great article thanks! There's really some things that are missing in Juungle:

  • cleaner UI/UX (I know it is an alpha)
  • a way to see previous trades for a better user engagement
$ 0.00
1 year ago

I have little interest in NFTs that aren't from a infamous artist or otherwise as monetary value. I can see myself valuing NFTs more when a market or chain establishes itself.

$ 0.00
1 year ago

We are on this together. Juungle will evolve for sure, as a whole NFT space is still blooming can't wait to see where it goes in future. Ohh there I see my art! :D

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1 year ago