NFTs are a new medium of exchange and ownership. From their ability to reduce reliance on gallerists and middle-people, empowering creator-first royalty structures, to creating true digital scarcity, this new asset class introduces huge potential to disrupt creation and ownership online as we know it.
At their core, NFTs offer an accessibility to ownership and discovery that is rare for creators, especially those in the emerging space. The way in which NFTs leverage technology is truly revolutionary for the art world and beyond; however, as with any new tech, there are a lot of unsolved problems and huge opportunities yet to be discovered.
Current problems with NFTs
Gas fees are one of the biggest barriers for many creators. This is a fee a creator has to pay just to create (mint) an NFT — regardless of whether that NFT sells or not. These can be upwards of hundreds of dollars. Because of this, the price at which a creator has to sell their NFT is artificially driven up from these gas fees.
Crypto is complicated
The infamous gas fees are only the tip of the iceberg. In addition to these outrageous upfront fees, most current NFT platforms also require users to be quite crypto savvy, understanding language and concepts native to the crypto space, not the art world.
In addition to understanding the jargon, NFT creators today also must learn how to set up and manage keys, create a wallet, purchase crypto to use in the first place, and have an appetite for volatility. Minting NFTs is very confusing and onerous.
The same holds true for people purchasing NFTs. Generally speaking, you will need to understand how to buy and sell with crypto currency to gain entry into this world, which is complicated and comes with volatility.
Bad actors abound
Authenticity issues are not uncommon in the current NFT space. Blockchain accounts are anonymous, and it’s quite easy for someone to claim to be someone they are not, or create and promote NFTs that they do not have rights to.
Last but not least, most NFTs currently reside on the Ethereum blockchain, which is environmentally destructive from an energy consumption perspective. This creates a moral dilemma for many creators that rules this medium out for them before they get started.
Voice turns problems into opportunities
Voice is excited to jump into the space and make NFTs easy for everyone, solving some of the current problems with a focus on creators. One of the main ways we’re doing this is breaking down barriers to entry, including upfront fees and accessibility to crypto.
No gas fees
Anyone will be able to mint NFTs for free on Voice. This is because we are using a proprietary blockchain technology called EOSIO that is inconceivably more efficient than blockchains like Ethereum due to its use of Proof of Stake, versus Ethereum’s Proof of Work model. What little cost there is, Voice covers as a cost of doing business — just as any company would cover the cost of hosting and running their products in a more traditional online marketplace setting.
No crypto knowledge needed
One of the things we are most excited about is eliminating the requirement that people buy and sell with crypto. You will be able to purchase NFTs with credit cards, and soon bank accounts if that’s more your style. If you do want to get your feet wet with crypto, we have a friendlier crypto option perfect for people without much prior knowledge of crypto.
Easy for everyone
We are putting a massive focus on the experience on our platform, making sure it’s the simplest and most intuitive place to create, buy, and sell NFTs in the world.
Voice verifies the identity of creators before they are able to sell NFTs, which is a large step forward in improving the authenticity of the assets. We will continue to focus on authenticity across the board.
Similar to our focus on experience, we have put an enormous focus on being environmentally friendly. We are launching as a carbon negative platform. What little energy we use to run our platform and our company, we more than cover with carbon offsets.
Where do we go from here?
Voice will be relentlessly focused on making NFTs easy and accessible for everyone. We believe that this technology will truly upend the world, but that’s not possible until the world can access its power.
The benefits of NFTs are huge for both creators and collectors, as well as the countless practical future applications we will uncover together as we learn and build. We will do our best to meet you where you are so you can hop on the NFT rocketship with us.
Make sure you’re keeping up with our updates and get notified for launch access.