CapsuleNFT Makes It Easy to Package NFTs and Cryptocurrencies into a Single NFT, Unlocking Powerful Possibilities for Artists, Developers, Gamers, Traders, and More
NEW YORK–(BUSINESS WIRE)–June 17, 2022–
Digital artists want to focus their energy on creativity, not code. Crypto traders want a simple way to package, move, and trade entire portfolios efficiently. Developers want to easily expand the current and future capabilities of their NFT projects. And they all want to do this reliably and at reduced cost.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220616005923/en/
CapsuleNFT makes NFTs more composable and useful for artists, gamers, collectors, crypto industry participants, and more. The CapsuleNFT protocol allows for the simple, elegant packaging of digital assets – NFTs, cryptocurrency tokens, etc. – for ease of transferability and maximum creative freedom. (Photo: Business Wire)
At the NFT.NYC Conference taking place next week, CapsuleNFT will launch its web app and protocol in beta, aimed at helping all participants in the NFT ecosystem achieve the above in the most efficient way possible. Conference attendees will have the opportunity to get merchandise, NFTs, and more at the conference while interacting with the CapsuleNFT project. (Details below.) The CapsuleNFT beta is available as a preview on the project’s website.
The team encourages developers and artists to participate in the advancement of CapsuleNFT by following the project on Twitter and Discord, reviewing the documentation, and watching the brief how-to videos on YouTube.
CapsuleNFT Dramatically Extends the Capabilities of “Composable NFTs”
The term “composability” refers to the ability of a digital asset or piece of software to behave like a building block, simplifying the process of creating wholly new works. However, current standards for composability in the NFT arena are difficult to use, poorly maintained, and not well-optimized for the NFT use case.
CapsuleNFT addresses the composability challenge by providing a protocol and simple interface that allows users package digital assets such as NFTs and tokens into a single NFT. From there, the NFT can be transferred with its contained assets in a single transaction.
The CapsuleNFT code has been independently audited by Quantstamp. It has been optimized to reduce Ethereum transaction costs (e.g., “gas”) as well as developer time and resources.
CapsuleNFT Offers Simple Composability Solution for NFT Industry Participants
“Any toy is worth more in its original box, whether that ‘toy’ is a set of video game assets, a piece of digital art, a portfolio of tokens, or anything else,” said Daniel Peter, co-founder of CapsuleNFT. “One of the many advantages of the Capsule protocol is that it makes NFT collections – broadly defined to include art, cryptoassets, and more – both provable and easy-to-build.”
For digital artists, the applications can include:
- Provable collections – Once a Capsule NFT is minted to a collection it can be provably traced to that collection, even if it is removed from it.
- NFTs with built-in floor price – An art piece can be packaged with any amount of cryptocurrency, setting its floor price. The holder of the Capsule can redeem the art or the cryptocurrency, depending on which item they believe is worth more.
- Music packaging and distribution – A Capsule NFT can contain an entire album of songs, an entire collection, or even individual tracks for the owner to mix.
For games and the metaverse:
- Digital gear collections – A portfolio of in-world assets can be packaged in a Capsule NFT and transferred or sold.
- In-world vending machines – A Capsule NFT can contain a number of assets in-world and be represented as a vending machine, which can dispense, be refilled, and more.
For DeFi and crypto-finance:
- Initial NFT Offering (INO) – Projects can release their new token inside of a series of NFTs in a marketplace, requiring no upfront liquidity.
- Portfolio-as-NFT – An entire portfolio can be packaged as a Capsule NFT and transferred or traded as a single collection.
What to Expect at NFT.NYC
At NFT.NYC, Capsule will have a branded vending machine located at the Marriott Marquis, Third Floor, next to the escalator. In exchange for following the @CapsuleNFT Twitter account, attendees could receive CapsuleNFT merchandise or even an NFT. To claim the prize, attendees can visit Booth #203 on the Marriott Marquis, Fourth Floor.
CapsuleNFT makes NFTs more composable and useful for artists, gamers, collectors, crypto industry participants, and more. The CapsuleNFT protocol allows for the simple, elegant packaging of digital assets – NFTs, cryptocurrency tokens, etc. – enabling easier transferability and maximum creative freedom. Follow the project on Twitter, participate in the discussions on Discord, review the documentation, or learn more about how to use CapsuleNFT on YouTube.
CapsuleNFT Media Relations
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.