One Million NFTs- Let’s review this project
1MillionNFTs.com is a smart-contract based web3 platform on the Ethereum blockchain with 1000x1000 grid. Each pixel is an ERC-721 token with its location. These pixels are fully customisable. Users will have an opportunity to buy, sell, rent and paint them to create any picture with any link inside.
Here is the interesting part- But to paint pixels you need another ERC-20 token.
Let us dive in and see if this is worth the hype.
Is it worth the hype?
Decentralisation is the future. The power has to move back to the audience. The users will decide what the way ahead would be. If you agree to this? You are already in the OneMillionNFT bus.
Why so?
Because one million NFTs is of the users, by the users and for the users. Truly democratic. Interesting? Read more.
Two token Model. What is that?
One Million NFTs will be using a two token model.
First, The token that are going to prove ownership on the blockchain of one pixel on the grid. Precisely, your ERC-721 NFT Tokens.
Second, the ERC-20 tokens, the one million tickers, these tokens are needed to buy NFT pixels and paint them to make some pictures on the grid.
So, if you want to participate then you will have to go to the open market and purchase 1 million NFT tokens. These tokens will be used to customise the pixels on the grid. This will cause a lot of buying pressure for the tokens.
What is the platform like?
All-in-all this is going to be a three-in-one platform.
First, there is a public view and this is going to be a zoomable and scrollable mobile friendly 1000 by 1000 pixel grid with all of the painted NFTs and users links available and easy to use on your smartphone.
Second, there will also be the Web3 area where you’re going to connect your self custody wallet such as Metamask and this will have a suitable dashboard asset management
Lastly, there will be a market place and this is going to be an easy to use smart contract based marketplace to buy, sell or rent the NFTS and ERC-20 tokens inside of the community.
Final call: Let me summarise it for you
To sum it up, One Million NFTs is a community driven NFT project. It has a lot of interest from a lot of big investors like Sky Venture and Hacking club. This project has the potential to do very well. Users are going to have the full ability to buy, sell, rent, paint and put in any link that they want inside of their pixels. This makes it truly decentralised and it is completely up to an individual to create it how they want. This is amazing for self expression and it will be really interesting to see how things unfold in this project in the future.
Final word
My recommendation: Buy it and hold it strong. With all the buzz around the NFT space, this can give you good rewards in the coming future. Mind you the total supply is only 10 Million tokens and the circulating supply for the general public is only 1,20,000.
(This is not financial advice. Do your own research and give me a thumbs up if you like this.)