Uniswap for NFTs Will MOON SOON! Don’t Miss This COIN!!

Eggyolk what is sizzling with the viewer of
the tube & Chico Army. Why don’t we continue from yesterday & end
this week off with N-F-Tees? The non fungi type of things. If you understand the gravity of them, it’s
most likely the reason you’re watching this channel. So let’s Begin..because it’s time for
Chico Crypto! Please oh please, understand the world of
NFTs. It’s the next evolution of DeFi that could
change every aspect of our lives through tokenization. And we need to dive right back into this NFT
project I see charging hard.. NFT20 & it’s governance token MUSE. I dropped the first information on it yesterday…which
showed that the cross asset NFT swapper being built for NFTX, will be using their liquidity
pools for some of the swapping. Pretty big news…but I really want to explain
more about this project, as they have shipped the products, the markets just don’t fully
understand it yet…kind of like Uniswap in its early days.

Which would make sense…Uniswap is an NFT
storefront hiding in plain sight. It just needed a little reworking & that is
exactly what NFT20 did…. Now, everyone should know Uniswap is for fungible
tokens aka cryptocurrencies that it doesn’t matter which crypto you have, this ethereum
is worth the same as that ethereum. They are interchangeable. Non-Fungibles do not work on Uniswap, because
of limited numbers, and editions. This NFT is rarer & more valuable than that
NFT. NFT20 has solved this. They are decentralized exchange and protocol
for tokenizing NFT projects as ERC20 tokens to make them tradable on DEXs such as UniSwap
or Sushiswap. . By creating a secondary market of ERC20
derivatives of NFTs, NFT20 hopes to address the liquidity problem in the NFT space. At first, low value NFTs will be deposited
into these pools, thus creating an average price per NFT per project due to NFT markets
like Opensea & Uniswap arbitrage. And the beginning stages are happening right
now.

Liquidity is starting to build, which some
would call lows…but the reason? The NFT space is new, it's just barely grabbing
it’s footing. This is exactly how Uniswap was just over
a year ago. We know today, Uniswap is dominant processing
over 1 billion 24 hour volume. What about in January of 2020? Well I should know I was covering it, what
it is, how to use it…before it was popular. Let’s see what it’s volume was like pre-hype
throughout 2019 and into the beginning of 2020. It twas low, it was in the low millions. But things changed as people caught on. And a similar story is going to happen in
my opinion to NFT20…why?? Well at first, lower value NFTs will be deposited
to these pools, as people will just want to get some monetary value for some of the more
“worthless NFTs” they hodl. Initially this will create an average price
per NFT per project due to arbitrage between NFT markets like Opensea & Uniswap. It creates the NFT liquidity and average market
prices everyone has been waiting for…and these prices are being discovered for 28 different
NFT projects through 28 different asset pools, and new project pools can be added at anytime,
as adding an NFT pool is as simple as clicking add new asset, pasting the NFT contract address….clicking
create exchange & paying the transactions fee
Why I think NFT20 is going to be important fundamentally.

But others within the space do too. Important figures within the NFT space. If you know NFTs, you should know the largest
marketplace OpenSea as everything is available for sale through their portal. Well Devin Finzer is the co-founder and CEO
of Opensea & he just tweeted about NFT20 saying “Been waiting for someone to build a generic
ERC721-to-ERC20 wrapper contract to let you trade NFTs on Uniswap, and @NiftyMuseum who
is NFT20 built it! Hey now! But let's get back to my content from yesterday,
when I first brought up this project…the developer working on the cross asset swapper
for NFTX said NFT20 would be used in some form for it.

This was just 3 days ago February 3rd…well
2 days before this he also said he was talking to big developer names in the space, connected
to aave both tstark and theo as seen from their profiles, but also NFTX & NFT20. What were they discussing? 2 different approaches to come up with capital
efficient and composible instant cross asset loans. Alpha leak: The project could be plugged into
any existing lending platform aka like AAVE. So NFT index fund protocol NFTX & the exchange
for generalized NFTs & beyond. Bullish especially if there are connections
with some of the big lending names. So, the financial ecosystem and tools being
built around NFTs, nice Chico how about you dive into some of the actual NFTs?? Ok ok…I finally did & minted my first NFT. Because this one is freaking cool, unique
& very limited for genesis. What am I talking about? Proof of Beatuy, POB.studio..so what type
of NFTs are these? Well they are art, but art based on Ethereum
transactions hashes where everything about the piece is generated from the transaction. The colors, the design, and artistic choices.

And once a tx hash is claimed, it can never
be re-claimed. It captures ethereum economic history. Per example…this is the first ever contract
creation on Ethereum, tokenized into an randomly generated art piece. They are going through the genesis set right
now, and yesterday they had 900 of 2555 left. This will be a good comparison of how popular,
how many are left when my editor edits this today….but the last one, 2555 of 2555 genesis
might be pretty valuable.

So what’s important about this genesis round
of proof of beauty? It’s the only season where every ethereum
transaction is up for grabs. Later seasons will be more restricted. From their blog post on seasons they say “Each
season will offer creative new ways to experience the tokenizing of our history. Expect different pricing mechanisms, different
amounts of mintable supply, changes to which txns you can mint, and new visual experiences.

There is one thing that is constant for every
season. ONCE A TX HASH is minted in a season, IT CAN
NOT BE minted in a subsequent season. Earlier seasons will have a larger domain
of transactions to mint, later seasons will see some transactions already minted in earlier
seasons. So, what did Chico mint?? Well I really freaking wanted the transactions
hash of the contract for the chainlink token creation…but that was smartly taken. Nice one whoever owns it… So, since Unibright had a big ole day yesterday. The release of the baseledger whitepaper! Histrotic day for them, and from the website…it
heavily involves the UBT token. It is obviously from the flow chart. The token for baselining….. SoI thought why not tokenize the creation
of the UBT token on Ethereum, another historic day for them 1142 days ago which the receipt
is on etherescan…but now that receipt can be turned into NFT art… Yes that is my beautiful, enterprise Defi…NFT,
clicking in it tells you the block number, transaction hash, pallets used and why…artwork
features nonsense & what that all is & finally you can interact with it….

Pretty trippy.. So, I will tell you this. Soon Proof of Beauties will have a pool created
on NFT20. These art pieces from the genesis set, will
find a base value. Shoot I might create it myself with a random
transaction & possibly use their ductch auction feature for my valuable UBT mint. And then If the NFTX DAO isn’t thinking
about adding a proof of beauty index fund, based on ethereum erc20 token creations, think
chainlinks, think the graphs, think uniswaps, i could even add in my UBT..they better soon! And then keep your eyes peeled and ready for
Chico’s own personal NFT, which is coming with the release of my media website, blockchain
leaks.

It mixes the physical & digital world. Kind of like Unisocks. Cheers I’ll see you next time.

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