What is ABC NFT? – Asia Crypto Today

The world of non-fungible tokens (NFTs) is constantly evolving and expanding, and one of the latest projects to make a splash in the community is ABC. In this article, we will explore what ABC is and what makes it unique in the web3 space.

Background

The concept of immutable art is not a new one. CryptoPunks on Ethereum was one of the first examples of this type of art living on the blockchain, and they have become an iconic and influential collection in the world of NFTs. However, there is one key difference between CryptoPunks and ABC: whereas CryptoPunks was created by a team, ABC is completely owned by the community.

ABC V3NTURES is a special group within the community of ABC NFT collectors. To gain access to this group, one must hold 30 or more ABC NFTs. The group represents the “whales” of the ABC community, meaning that they hold a significant portion of the total supply of ABC NFTs. The purpose of the group is to invest in initiatives and projects that bring the child-like creativity of the ABC collection to the market.

The group was founded with the vision of creating the best community of builders and art lovers in the NFT space. Since its inception, ABC V3NTURES has become one of the largest whale groups on Solana, supporting the ecosystem where possible. The group is dedicated to fostering the growth and development of the ABC collection and the Solana blockchain as a whole. The group is a powerful force within the community, and its members play a crucial role in shaping the future of the ABC collection and the NFT space.

What is ABC NFT?

ABC is a collection of immutable art that lives on the Solana blockchain. This collection was listed on the secondary market for 1.23 $SOL, giving collectors the opportunity to choose the pieces of art they wanted to add to their collection. Unlike many other NFT collections, there is no official rarity to the ABC collection and there are also no royalties associated with it.

The vision of the original creators behind ABC was to create the most decentralized and immutable art collection on the Solana blockchain.

ABC is a CC0 Collection

The ABC collection is also CC0, which means that it is “No Rights Reserved”. This allows creators, scientists and owners of already copyrighted materials to waive any rights to the IP itself and place it into the public domain. This means that others can use the IP for any purpose they see fit without the restrictions of copyright law. This makes ABC permissionless to use and tie into another project.

Community and Incentives

Since ABC is completely owned by the community, every holder of ABC is equally empowered and incentivized to contribute to the ecosystem. Holders can do whatever they want with their ABC, whether it be adding it to their art collection, using it in another project, or even burning it.

One example of this is Asset Dash, which partnered with ABC to tap into its community by offering holder incentives. Other projects like Hadeswap, created by an ABC community member, are also aiming to offer benefits to collectors of ABC.

Hadeswap

In addition to the ABC NFT collection, users of the Solana blockchain have access to a new decentralized marketplace called Hadeswap. Hadeswap offers a way for users to trade NFTs on the Solana blockchain without the use of order books on a centralized exchange. This is similar to how Uniswap operates on Ethereum, providing an alternative to centralized exchanges like Magic Eden.

Hadeswap operates as an Automated Market Maker (AMM) which means that the protocol automatically adjusts the price of NFTs based on the most recent trade that has been completed. This allows for users to create liquidity pools and earn trading fees paid in SOL without having to lock up or stake any assets.

Users have the option of purchasing NFTs on Hadeswap in the traditional way, by browsing the available listings for a particular collection and selecting the NFT of their choice. Another option available is the creation of a “buy” pool. This allows users to dollar cost average (DCA) into a collection by setting a “spot” and “delta” price and depositing the amount of SOL needed to cover the buy orders that the pool represents. Every time the pool purchases an NFT from a seller, the price offered will decrease based on the “delta” set by the user.

Hadeswap also allows for the selling of NFTs, with users having the option of instantly selling for the best offer available from the pools for each collection or setting up a one-sided “sell” pool. This allows users to DCA out of a collection and receive more for each NFT that their pool sells. The user sets a “spot” and “delta” price and deposits the amount of NFTs they want their pool to offer for sale. Every time the pool sells an NFT, the price of the remaining NFTs in the pool will increase.

Conclusion

In conclusion, ABC is a unique and exciting project in the world of NFTs. Its decentralized and community-owned nature, as well as its CC0 status, sets it apart from other NFT collections. While it may not be the best choice for those looking for an investment opportunity, it offers incredible opportunities for art lovers and creators to build and contribute to the ecosystem in ways that are truly unique.