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Introducing The CryptoMona NFT Series – Based on The Mona Lisa

JC Keen
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Introducing The CryptoMona NFT Series – Based on The Mona Lisa

The CryptoMona NFT series, based on Leonardo Davinci’s Mona Lisa has arrived. This NFT series has been minted on the Ravencoin blockchain and was produced in collaboration with a few artists and NFT collectors.

NFTs have value from an art perspective, from a marketing perspective, and in many other ways. But, those in the NFT space know well that NFTs are mostly about having fun.

Why A Mona Lisa NFT?

It was simply having fun playing with NFTs when I stumbled onto the idea of producing this piece. Several months ago I came across a Mona Lisa NFT that I haven’t forgotten. This NFT was of Mona Lisa wearing a facemask. This isn’t a particularly unique idea, but for some reason, this image has stayed with me. At times, I wish I had purchased that particular NFT.

Well, it occurred to me that I hadn’t seen a pixel art Mona Lisa NFT. So, I decided to play with pixels to see what I could come up with. As the image began taking shape, a pixeled Mona Lisa became recognizable. But, there’s something about the eyes of the Mona Lisa that could not be replicated, especially with pixel art. This led me to maintain a piece of Davinci’s art, within my new creation. If you look closely, each CryptoMona has the original Mona Lisa’s eyes, though in some cases there are a few modifications.

CryptoMona 165

Why Create a CryptoMona NFT Series?

After I produced the first digital art piece, my plan was to mint one NFT. But, then I began a conversation with other artists and NFT collectors and the idea of producing an NFT series began emerging.

Cryptoarticles.com readers know that I’ve had the opportunity of pursuing a few NFT projects. One thing that I’ve learned is that someone that is just getting started with digital art may struggle to find success with individual NFT pieces.

On the other hand, using a series to launch NFTs may be a bit easier, in some ways. Certainly, one of the keys to producing a successful NFT series is having the right vision to build from. This vision should be something NFT collectors can get excited about.

The NFT series should also be somewhat sizeable. The series size is important because many NFT fans tend to form communities behind certain art collections. A series of 5 NFTs is hardly a series. On the other hand, an NFT series of thousands of NFTs may risk lacking the collectible aspect NFT buyers seek.

When it comes to producing several NFTs, most artists use generative processes. This is something I wasn’t familiar with, but most NFT artists in the Ravencoin community are more than willing to lend others a hand. One artist that introduce me to the art generative process is @six60six_NFTs. He is the creator of the popular Porky Punx NFT series.

CryptoMona NFT Series Rarity Variations

The CryptoMona NFT series has 8 different traits. These include background, skin, eyes, hair (and hat), lenses, glasses, mouth (and cigarette), jewelry and hat. Each of these traits can have different rarities.

This particular series establishes rarity based on assigned percentages. Common traits occur at least 50% of the time and the rarest traits occur less than 10% of the times. When it comes to eye variations for example, the original Mona Lisa eyes ocurr 50% of the time, blue eyes occur 25% of the time, eye shadow eyes occur 15% of the time and laser eyes occur 10% of the time.

When the generative process takes place, the probabilities of producing an NFT that has two or more of the rarest traits is reduced. An extremely rare CryptoMona NFT may be desirable from a uniqueness perspective, but it may also be that that particular CryptoMona isn’t necessarily artistically pleasing. Or it could also be that a rare CryptoMona becomes too distant from Davinci’s master piece. It could also be that that a simpler CryptoMona, with the right color combinations, becomes a more desirable piece.

The saying beauty lies on the eye of the beholder rings true, even with generative NFT art.

CryptoMona 160
CryptoMona 86

The Future of The CryptoMona Series

It is difficult to begin to imagine what lies ahead for this series. I do know that some people within the Ravencoin community have expressed excitement at the fact that the CryptoMona series idea originated within this community and that these NFTs will be minted using the Ravencoin protocol.

If NFT collectors continue expanding their horizons from cryptocurrencies like Ethereum to other alts, and from marketplaces like Opensea to marketplaces like JustNFTs and RVN.art, then the sky is the limit for this series. In any event, creating these series and collaborating with other artists and NFT collectors has been a lot of fun.

PS, special thanks to everyone that made this possible, especially to @rvnmktman1 for being a sounding board and providing great ideas.

Interviewing Jonah Schulman from Security Token Market

JC Keen
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Interviewing Jonah Schulman from Security Token Market

Security Token Market (STM) is a world leader in the digital security space. Most people in this space recognize that anything that is a security can and likely will be traded using blockchain technology. This means stocks, bonds, real estate, etc. will all eventually trade similarly to how cryptocurrency trades today. This is a huge market, and STM is at the leading edge of this financial revolution.

If you’ve watched their videos or listened to their podcasts, you know STM has some incredibly smart, knowledgeable and energetic individuals in their team. One of them is Jonah Schulman, whom I got to know through some exchanges pertaining the value of NFTs.

Some of Jonah’s tweets are true gems. Without further due, here’s the interview with Jonah, from Security Token Market..

Can you explain to our readers what the Security Token Market is all about?

Absolutely! Security Token Market (STM) has been around since the inception of the security token industry.

Over the past 3 years, through consistency, diligence, and getting into the weeds STM has emerged as the trusted source of security token data and media!

We have two key business verticals: Data & Media. 

Data: When it comes to security token live-trading data we are simply unmatched. We track 170+ security tokens and tokenized stocks from 10+ marketplaces from around the globe via API integration. 

The purpose behind the data is to bring price transparency and integrity for our 30k+ a month users so they can feel confident in their investment decisions as the industry moves forward and blockchain-based assets are adopted!

Media: To bring awareness and increase adoption, we have established multiple media properties. I personally spearhead the What’s Drippin’ newsletter which has amassed over 1.7k subscribers in just 6 months. We also have a Podcast, The Security Token Show that has over 37k downloads.

On top of that, we have several other media properties discussing everything there is to know about security tokens, with many more going live soon!

How did you get involved with the security token market?

I got involved by chance really. 

I ended up working for a famous blockchain platform after meeting them at the North American Bitcoin Conference in Miami a few years ago. I joined the team as an advisor and brand evangelist to help spread the word of the platform. I spoke at conferences around the world in front of hundreds of people and it was an incredible experience!

Through that experience, I discovered the amazing technology of blockchain and how it can be leveraged for fundraising via ICOs. Of course, ICOs are not securities offerings but offerings of utility tokens for the issuer’s platform.

This same technology can be used for securities, which is what we call a security token offering (STO) to fundraise for asset-backed securities. Through the connections I made I was offered the opportunity to be the first employee at Security Token Market in October of 2018.

What is it like to work at Security Token Market and be at the forefront of capital markets disruption?

Honestly, it’s a true blessing! I love working for Kyle and Herwig – they created an incredible culture that fosters growth and innovation. 

Being at the forefront of the future of the capital markets has provided tremendous advantages and perks:

  • See investment opportunities before the masses do
  • Become proficient in topics before the majority does
  • Connect with leaders across the world – I have had conversations with people on every continent from the Faroe Islands to Australia – the security token industry is global and it’s been so freakin’ cool to talk to people from all corners of the world

In simple terms, what are security tokens?

Security tokens simply are securities but on the blockchain. They abide by all required regulatory frameworks as traditional securities do, but are recorded and transferred via the blockchain. 

Can you explain how security tokens work?

Definitely!

Let me use an example:

Security tokens, as I defined them, are simply securities like Apple stock but it runs on the blockchain. 

Security tokens are any asset with tangible value, for example, it could represent a share of the Burj Khalifa, exotic supercars, wine, Van Gogh paintings… you name it!

Benefits of running on the blockchain include:

  • 24/7 trading
  • International access
  • Instant-settlement (Traditional markets take 2 business days minimum to settle)
  • Self-custody (ability to hold your securities in your own wallet instead of on Robinhood or TD Ameritrade, just like you do with Bitcoin, Ethereum, or Ravencoin)

What is the difference between an NFT and security tokens?

Security tokens and NFTs both run on blockchain, but security tokens represent the tangible value of an underlying asset; Whereas, NFTs are merely collectible images usually with no physical representation.

Similarities:

  • Ownership recorded via the blockchain
  • Transfers facilitated via the blockchain

Differences:

  • Security tokens are fungible (multiple owners at the same time)
    • For example: Shareholders of Apple stock
  • NFTs are non-fungible (Only one owner can exist)
    • For example: Cryptopunks, baseball cards, etc.

In what instances can an NFT become an illegal security?

This is interesting as it is technically not concrete, but what I can say is that when you get into fractionalizing an NFT is when you start entering risky territory!

An NFT is defined as a Non-fungible token, which means one of one, it is innately unique. When you start fractionalizing ownership of something that is innately unique you could get into some trouble.

Additionally, the language used when offering an NFT is crucial – for example, if the issuer solicits the NFT as “Buy this NFT, it represents ownership in X” or “Buy this NFT you will receive dividends” you start to tread murky water.

Can an NFT be a representation of a security token?

Yes, it can! There are actually examples of this. For example, as I mentioned, an NFT is one of one. Club Necaxa, which is a soccer team in La Liga out of Mexico, offered 1% equity stake in the soccer club represented as a compliant NFT security token. Essentially, Club Necaxa created one token that represents equity ownership in the club, which makes it a non-fungible token. 

Why is the Security Token Market bullish about the security token market?

Because it’s inevitable. 

First, we had the ICO era – it showed us the amazing fundraising capabilities that blockchain technology enabled.

Then we had/have the NFT era – showing how ownership of collectibles and other unique assets is made more efficient via the blockchain.

Both are incredible use-cases, but those are just a fraction of the potential of tokenized assets. 

Every single asset in the world that has real tangible value will also be tokenized.

Every single asset, whether they are private or public will be tokenized on the blockchain, offered to a global investor base, and traded on a public marketplace!

Imagine the Burj Khalifa, exotic supercars, wine, Van Gogh paintings, and more in your portfolio – this is a realistic reality that will be here sooner than later. 

According to Bain & Company, the real estate industry alone is a $317 trillion (TRILLION!) dollar private market that could be tokenized. 

Just wait.

Anything else you’d like to share with our readers?

Firstly, I just want to thank JC Keen & the Ravencoin community for the opportunity to do this interview!

It’s a team effort – as we succeed, Ravencoin will succeed and vice versa!

I also want to add that Security Token Market is doing a security token offering!

This means that for as little as $100 – anyone can become a shareholder in our company and the best part is it will be tradable!

An investment in us is an investment in the future of the capital markets!

As of 10/25/2021 we have had 380 investors around the world pledge over $2M in our campaign.

Reserve your spot to invest now!

Thanks JC for having me!

Disclosures:

• No money or other consideration is being solicited, and if sent in response, will not be accepted; 

• No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only though the platform of an intermediary (funding portal or broker-dealer); and 

• A person’s indication of interest includes no obligation or commitment of any kind.

Interview With Popular Pixel Artists Using Ravencoin

JC Keen
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Interview With Popular Pixel Artists Using Ravencoin

Pixel NFT artists have found great success using the Ravencoin blockchain. I recently had the opportunity to chat with a few of them, when I came up with the idea of converting 2D pixel art NFTs to 3D pixel art NFTs, using what I call RVN Blocks.

A few of the pixel artists I got to know are @DegenSmokers, @HeartRvn, and @catbitsnft. After learning more about them, I decided to write a short article about them and their art.

Today, I am starting with the artist behind the popular Degen Smokers Club.

Artist Degen Smokers (@DegenSmokers)

What kinds of things can you share about yourself?

I’m 29 from Cleveland, OH lived here my whole life. have a huge hobby in working on and modifying cars, computers, as well as crypto trading and mining.

How/when did you discover you were into art?

I’ve been into art my whole life.  Oddly enough I never had the confidence to every really do it or sell my art before the RVN NFTS Degen Smokers Club got going.

How long have you been doing digital art?

I have always played around with all kinds of different art digital and just on paper.  The digital stuff I’ve really gotten into more though as I started to produce RVN NFTs.

What or who influences your art?

The Cryptopunks and Bored ape yacht club definitely were my biggest influences in the NFT world.  Just seeing a person or team be able to make such a big movement out of digital art really inspired me to try and form a NFT movement and bring attention to RVN NFTs.

My family is also a big influence on my art.  I run most ideas and thoughts through them, to kind of get their thoughts before producing anything.

Without giving away your secret sauce, what can you share about your process for art creation?

What I’d consider to be my secret sauce without giving away too much is to just be simple and playful.  I try my hardest in life and art included to not take it to seriously just enjoy the moment and what I’m doing, when I do it.   I think that’s partially why it was so well received by the community!

Why do you use RVN for minting your NFTs?

I use RVN to mint my NFT’s because I’ve been a long-time follower of RVN I wanted to try and help bring attention to RVN NFTs to help show just how big and amazing RVN is for NFTs as well.  I really aspired to be a part of the RVN community and hopefully one day go down in the RVN NFT hall of fame if you want to call it that lol.

Are there any NFTs that are near and dear to you and why?

I’m a huge supporter and lover of all RVN NFTs I would love to see all RVN artists thriving. I know that’s pretty general but I really had every intention with my NFTs to try and shed light and help make all RVN NFTs known.

In your opinion, what gives value to NFTs?

In my opinion just like any art, I feel the fans and art lovers are who give the real value to NFTs!  Without any supporters, fans, or people who follow the art it really would be nothing without them.

What are some of your goals in this space?

My biggest goal in the RVN NFT space would be to try and show everyone RVN NFTs are just like any other NFT marketplaces and seeing everyone win!  I really would love to be considered in the top greats when people think of RVN NFTs.

What would you say to other artists that may be considering minting NFTs, but don’t know how to start?

I personally was just in the exact same place!  I had no idea where to start or even how to create an NFT.  Luckily the RVN community is so amazing!  They helped me learn how to make them, learn how to set up an asset wallet, etc. I mean pretty much every step of it!  I could never thank the RVN community and fans/supports of the Degen Smokers Club enough.  To sum it up, just give it a go!  

Don’t be too worried or self-conscious about it! just have fun with it. As long as you are having fun you can never lose!

Artist RVN Heart (@HeartRvn)

People want to know about you (and/or your daugther).  What kinds of things can you share?

Location Scandinavia. My daughter (the artist) Eva is 8y.

I’m an entrepreneur for almost 15y now. Love Ravencoin (Bitcoin 3.0) and its community.

I see Eva only 3-5d/month because she is living so far away.

When she got her first phone two of years ago (two broken already…) we started to send hearts via WhatsApp when we missed each other.  So, the heart has been our thing from since. Some colors have our own secret meaning.

She is so excited about this “bird coin”. She is now drawing and painting all the time (just for fun mostly).

How / when did you discover you were into art?

I have always liked painting. I’m little bit ADHD so it makes me calm.

How long have you been doing digital art?

When I bought my first digital camera in the 90’s (and Nikon, of course) = Magic Photoshop skillz, lol. But mostly I’m doing art by painting.

What inspires / motivates you?

My daughter and her future. Yesterday she send me this painting through WhatsApp.

What or who influences your art?

Dali, Naoto Hattori, Banksy

Without giving away your secret sauce, what can you share about your process for art creation?

This is me and my daughter’s common hobby, and every art we share is done with a collaboration.

We might see some new NFT’s soonish after this first auction at Just_NFTs, mostly Eva’s paintings with little adjustments.

I have an idea for the next #A1-#A10 and been doing some sketches, but let see first what she will think about them 😉

Why do you use RVN for minting your NFTs?

I think RVN is the best choice there is. So underrated, don’t know why. Maybe people don’t read white papers anymore.

Love the community, it’s real and open <3

Also minting and transactions are so cheap.

Are there any NFTs that are near and dear to you and why?

@PhaxyVFX

 NFTs are unreal <3 and many many others too!

In your opinion, what gives value to NFTs?

People like art a lot. This technology makes it easy for anyone to share your unique art all around the globe.

Little bit easier to share your artistic talent, than selling only physical paintings.

What are some of your goals in this space?

Hopefully someday I will get my siblings children involved to this crypto/nft space too.

They are the future.

What would you say to other artists that may be considering minting NFTs, but don’t know how to start?

Ravenites have a great, open and helpful community.

Just join Ravencoin/Just_NFTs Discord/Telegram or contact #RVN #NFTartist and we will help you getting started.

Artist Cat Bits (@catbitsnft)

People want to know about you. What kinds of things can you share about yourself?

I’m from the Philippines, and I am 29 years old. My interests revolve around technology, art, and business. Through experimenting and learning, I have honed my skills as a programmer, artist, and entrepreneur.

I came from a business family, so I started my career as an entrepreneur.

How/when did you discover you were into art?

I discovered I was into art when I was a kid. It all began with cartoons, games, and anime posters, which inspired me to join drawing contests in High School. Then, I made comics that I have written and illustrated and distributed them for free.

Back in 2013, I discovered digital art. At first, I wanted to create merchandise out of the pixel art I made. However, it wasn’t successful. Recently, I heard about the Ravencoin project and the wonders of NFTs. At last, I was now able to pursue my passion for pixel art.

How long have you been doing digital art?

Since 2013, so it’s already been eight years. But only this year did I decide to make it a full-time career. Likewise, I use digital art for my business projects, but I never tried releasing real art to the public, only for logos, web designing, and posters.

What inspires / motivates you?

The joy of being free motivates me to make art. Through art, I can share a glimpse of that freedom with people, and when they appreciate what I make, it makes my soul happy.

What or who influences your art?

The influencers in my art are those that are close to me right now. I have two cats, a beautiful girlfriend, a supportive family, fantastic friends, and a super awesome community (RVN).

Without giving away your secret sauce, what can you share about your process for art creation?

There is a vast horizon of concepts, ideas, and knowledge from other artists that everyone can learn.  It’s a long process, but it will take you to your niche. Go back to being your child self,  for then you will discover freedom and create a masterpiece that is true to you. Finally, be confident in what you make. Your art deserves to be seen.

Why do you use RVN for minting your NFTs?

It’s easy to use; even a non-programmer can mint NFTs on Ravencoin. Additionally, I love the idea of community, independence, and decentralization.

Not only that, but also I was familiar with and a big supporter of open-source projects. Everything I use in my work is from open-source platforms.

Are there any NFTs that are near and dear to you and why?

Yes, there are. My first NFT is from artist @MXCCLXXD. He is one of the inspirations that made me release my NFT collection. I am hoping to see more future projects from him.

In your opinion, what gives value to NFTs?

Many artists and designers have different approaches to conceptualizing art. There are numerous things to consider; time, effort, and the idea.  Even when people use generators in their work, they still need to make the layers separately. The generator is just a tool to compile those hand-drawn layers. In the end, it’s the element, identity, and culture behind the NFTs that give it value.

What are some of your goals in this space?

I want to create a safe space for cultural exchange and art narratives that separates it from commodities. Moreover, creating art that communicates a sense of belongingness to its buyers, a principle I learned from the Ravencoin community.

What would you say to other artists considering minting NFTs, but don’t know how to start?

It’s relatively easy. There are articles and videos widely available on the internet for reference. Furthermore, the members of the community are approachable and will help you if you have questions.

Pixel NFT Artist Have a Growing Following

It is clear to anyone paying attention that NFTs are here to stay. It is also evident pixel NFT artists have found much success and have a growing following. There are many other artists I’d love to interview. If you have any particular artists you’d like to learn more about, please mention it in the comments below.

Pixel Art Is Cool, But 3D Pixel NFTs Are Awesome!

JC Keen
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Pixel Art Is Cool, But 3D Pixel NFTs Are Awesome!

3D pixel NFTs are awesome, IMHO. By now, most cryptoarticles.com readers know what NFTs are all about. It is amazing to see how the NFT market continues to expand and evolve. As such, I am always looking for new NFT ideas.

RVN Blocks

Well, a while ago I had the idea of converting pixel NFT art to 3D Pixel NFT art. My idea involved using 3 dimensional blocks to construct anything imaginable. This is like using Lego blocks, except everything is done digitally.

I started by creating single 3D blocks, which I call “RVN Blocks.” I call them “RVN Blocks” because the blockchain I use to create NFTs is the Ravencoin blockchain. From a digital art perspective, RVN Blocks can be thought of as pixels.  And pixels can be thought of as the foundation of digital art, as these can be used to create anything imaginable.

From a technology perspective, these RVN Blocks can also be thought of as a representation of the blocks that form the chain of the Ravencoin blockchain.  As with digital art, these blocks can be used to create anything imaginable.

3D Pixel Emoji NFT

At first I wasn’t sure where I was going with this. I started with something simple to see where it would lead me. I used these RVN Blocks to create a 3D pixel emoji. This was pretty simple, and in my opinion it looked much better than what a comparable 2D pixel emoji would look like. Here’s the link to the first ever 3D Pixel Emoji NFT minted on Ravencoin.

3D Pixel Emoji NFT – Minted on Ravencoin

3D Pixel Smoker NFT

Next, I decided to try a popular NFT. I considered a Crypto Punk, but decided to help promote Ravencoin artists instead. So, I contacted the artist from the Degen Smokers Club (@DegenSmokers) to get his blessing to create a 3D Pixel version of a Degen Smoker. Imitation is the best form of flattery.

The process was a little more involved than creating the emoji. In addition, the process of deciding how much “depth” to give to certain features was very rewarding. In this 3D Pixel NFT, the smoke has more depth than all other features. This is evident by the shadow created, which can be seen on the red background.

3D Pixel RVN Heart NFT

Later, I chatted with another pixel artist that recently came to the Ravencoin NFT scene, artist @HeartRvn. The original 2D pixel heart NFTs were beautiful and simple. What’s really cool about all of this is that the true artist behind these NFTs is an eight year old girl.

All of this led me to the idea of writing about Ravencoin pixel artists. Keep checking this website for more updates on this.

3D Pixel CatBits NFT

Another artist I’ve chatted with is @catbitsnft, whom also gave me his blessing to make one of his pieces into a 3D pixel piece. This piece took significantly more effort to convert to a 3D pixel NFT, for various reasons.

This particular piece of art is more complex in shape and color scheme. Some of these colors are a bit difficult to distinguish. For example, the smoke is made out of white and light gray blocks. The 3D pixel version has significantly more depth than other 3D pixel art I’ve played with.

3D Pixel Gun NFT

After trying a few more complicated 3D Pixel NFT projects I felt compelled to go back to something simpler. However, I also wanted a more 3D feel to it. So, I ended up creating this 3D Pixel Gun, standing on its own, rather than clamped to a board. This was a bit easier, but still rewarding. One thing I’ve noticed about this particular NFT is that when I stare at this piece I have the urge to “grab” the gun.

The Future of 3D Pixel Art NFTs

Converting a few 2d pixel art NFTs to 3D pixel art NFTs has been fun. It has also been great to get to know some of the Ravencoin pixel artists. Unfortunately, creating 3D pixel art, in the manner in which I’ve created it, is a time consuming process. As such, it is difficult for me to envision pursuing this project beyond a few more 3D pixel art NFTs.

Nevertheless, simply having the 3D conversation with a few artists and sharing some of these thoughts with the NFT community has been rewarding and will hopefully inspire a few more artists to explore 3D NFTs.

See Twitter thread below.

What is Voxel Art?

I looked up the definition of voxel, and all the definitions I came across were too complicated. Here’s one voxel definition that I like: A voxel is a volume element, representing a value on a regular grid in a three dimensional space.

In other words, a voxel is the 3D version of a 2D pixel image. However, I’d have to agree that my 3D images aren’t voxels, because I didn’t always use cube shapes.

How to Create Voxel Art?

When I was looking at creating 3D NFTs, I played with free online software. For the most part, the software I came across was easy and intuitive. However, I was attempting to use an existing image as the basis for my 3D NFTs. In the end, I decided not to use these voxel art options. Instead I used Sketchup.

If you are looking to create voxel art, these are some free popular voxel art editors that are worth checking out.

In addition, here’s a great video on how to make Voxel art using Magical Voxel.

Voxel NFTs on Ravencoin

Some time after I interviewed @degensmokers for this article, he began producing his own 3D NFTs. These are true voxel art images and they have become very popular within the RVN community. Below are a few fun examples from his collection.

Image
Image
Image

Perhaps one of the coolest things @DegenSmokers has been doing is creating voxel NFTs from his previously created 2D pixel DegenSmoker collection.

That’s all for now. Hope you enjoyed reading this article as much as I enjoyed writing it. Cheers and happy creating!

Which Is The Best Tokenization Crypto?

JC Keen
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Which Is The Best Tokenization Crypto?

The best tokenization crypto will eventually enjoy massive adoption and could very well become a top 5 crypto, by market cap. For this reason, investors are beginning to pay more and more attention to tokenization cryptos. The question is which crypto will stand above all the others in the quest for asset tokenization? Which is the best tokenization crypto?

What is Asset Tokenization?

Asset tokenization is the process of creating digital tokens that represent real world assets. These tokens are created on the blockchain and can be transferred peer to peer, similarly to how cryptocurrency transactions take place.

What is the purpose of asset tokenization?

Once an asset has been tokenized it can be transferred peer to peer and/or it can be traded at a marketplace. In addition, asset tokenization can be utilized to provide fractional ownership of an asset.

For example, an investor may chose to tokenize an apartment complex and sell tokens representing fractional ownership of said asset. The investor may or may not issue dividends to distribute income from the apartment complex to token holders.

This provides liquidity to the investor tokenizing the asset and to token holders.

How Big Will The Asset Tokenization Market Be?

The asset tokenization market will be huge! First, let’s re-state the fact that nearly all assets will eventually be tokenized. We are talking about trillions, possibly over a quadrillion dollars! The size of this market is beyond human comprehension. This market includes things like art, real estate, stocks and derivatives.

Total wealth by country in 2019, visualized
https://www.visualcapitalist.com/all-of-the-worlds-wealth-in-one-visualization/

Which Is The Best Crypto for Tokenization

Some of of the possible cryptocurrency contenders include Algorand, Cardano, Etherum, Polygon, Ravencoin, Tezos, etc. However, the best crypto for tokenization is likely to be a truly decentralized (POW) protocol that can handle assets in the simplest possible manner. Having researched this, I believe that the best crypto for tokenization is Ravencoin.

It is very likely users will rely on various blockchains. Some of these may be private, public, decentralized, centralized, etc. Some will rely on POS, others on POW. Some will utilize smart contracts, some won’t need smart contracts.

This begs the question, what key features will users seek when tokenizing assets? Here are three characteristics I believe are necessary for a blockchain protocol to become the best tokenization crypto:

  1. POW & Decentralized over POS & Centralized
  2. Simple over Complex (smart contracts)
  3. Fairly Launched over ICO

Decentralized Vs Centralized Protocols

If I am tokenizing anything of value, I’d want the assurance that no central entity can change the rules and mess with my asset. The only way to ensure this is with a truly decentralized blockchain. And the only way to attain this is with POW mining.

Therefore, the best tokenization crypto must be a crypto that utilizes POW mining. Proof of Stake (POS) cryptos are very popular these days, but the reality is these cryptos are centralized rather than decentralized and therefore they are not as secure. Most importantly, I believe POS cryptos won’t survive in the long run.

Base Layer Vs Smart Contracts

The KISS (Keep It Simple Stupid) concept comes to mind.

Allow me to illustrate this with an analogy; If you want to perform simple arithmetic computations, do you use a calculator or do you create a program every time you need to perform such computations? Indeed, everybody uses a calculator, because a calculator was designed for the specific purpose of performing simple arithmetic computations.

Likewise, if you want to tokenize assets, you could either use a blockchain protocol that was already designed to handle asset tokenization at the base layer, or you could write a smart contract, which requires writing code. The former is a simple solution, the latter is a complex solution.

Crypto enthusiasts are excited about the endless uses for smart contracts. Indeed, smart contracts can provide excellent solutions in a number of ways. Unfortunately, smart contracts are complex and therefore introduce significant vulnerabilities.

See 9 Most Common Smart Contract Vulnerabilities, which include:

  1. Indirect execution of unknown code
  2. Reentrancy
  3. Incorrect calculation of the output token amount
  4. Interface / naming issues
  5. Dependency on the order of execution
  6. Time component
  7. Using the blockhash function
  8. Incorrectly handled exceptions
  9. Incorrect work with ERC20 token

Fairly Launched Vs ICOs

We all know the SEC has signaled its intent to closely regulate the crypto industry. It is evident that cryptos that had ICOs are at risk of being deemed illegal securities.

Imagine that a company like eBay decides to enter the asset tokenization space. Would eBay want to take a chance of utilizing a cryptocurrency that is at risk of being deemed an illegal security?

Also consider that crypto exchanges, such as Binance, Coinbase, Craken, and Gemini, are not allowed to trade securities. These exchanges would be forced to delist many cryptos when the SEC hammers cryptos that had ICOs.

Which Cryptocurrencies Meet These Top 3 Characteristics?

I’ve been researching this for a while and can only find one cryptocurrency that provides the three features discussed above. That is Ravencoin, which by the way has an amazingly engaged community. See ‘Why Ravencoin Will Flourish for Years to Come‘ by Samuel J. Saches from STM.

See also The Battle of The Ages:

In conclusion, I believe the best tokenization crypto is Ravencoin. If you know of other cryptos that meet the criteria discussed above, or if you’d like to share your thoughts on the best crypto for asset tokenization, please comment below.

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