Do we need centralized NFTs in the decentralised world?

BIG NFTs

For more than 3 years already Intercoin’s team is working on solutions to resolve a problem for communities with Centralized projects that have ultimate control over all transactions and accounts of buyers and sellers. We all know that when all data about buyers and sellers is collected in one place, the information might be used for influence or can be hacked/leaked in bulk.

I was really impressed when initially heard from my colleagues about NFTs 2 years ago that artists might be able to interact directly with a blockchain in order to sell their works and each computer in the network will retain a complete record of files.

I also liked a post about decentralized networks that @Greg posted recently here:

However, I was disappointed to read CoinDesk Insight’s article that " The NFT Market Is Already Centralized" with some news that the two major centralized crypto exchanges, Coinbase and FTX, announced their own NFT marketplaces last week, which will no doubt bring more moderation to the market.

You can read more about it here

I’m interested to hear what our community thinks about all this.
Do you have any ideas?

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Short answer decentralize everything.

But… unfortunately it will take time. First step in the right direction is all these new artist coming into the NFT space. The amount of artist I personally have spoke with that have experienced nothing but growth and greater success since entering the NFT spaces is mind blowing. :clap:

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Interesting article.
I agree with @cryptostaceyb here, even though it’s obvious the world is shifting towards decentralization, unfortunately, mass adoption will take time. It is up to us to keep at it and continue to bring more people on board.

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Agreed! That’s the way it’s going but it’s going to take time and be a bit of a battle as there are a lot of rich and powerful people with a vested interest in keeping things centralised.

This is why I think Governments/banks are threatening bans and spreading FUD. They know it cant be stopped, they’re just trying to cause friction and slow progress to position themselves so they can profit. .

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There needs to be a uniswap competitor to Opensea/Coinbase/FTX. Centralized platforms are antithetical to the spirit of NFTs. Biggest contender recently seems to be looksrare; they drop all their platform fees to LOOKS holders. Meanwhile Opensea has no token still!

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:thinking: boss I think ur onto something!

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We’re only in the fledgling stages of where NFT Marketplaces can go. Unfortunately the resources required to create such large scale systems require a lot of financial backing, and often those involved do not wish to see what they’ve invested in simply disseminated to the collective benefit of humanity withotu remuneration. It makes for a difficult landscape, allowing users to simultaneously mint digital assets without the high costs assosciated - I’m looking at you, OpenSea - with providing that platform.

As a nascent industry, the NFT space is still finding it’s footing and navigating the pitfalls of those first to plant their flag on uneven ground. There’s literally one truly scalable NFT powered game at this time - God’s Unchained - pioneered by the company Immutable X. Now, they’re making their API based minting, sharing and trading software available to those who want to develop on their platform. The software development kits are being more comprehensive by the day, with an increasing number of mediums for creating and using NFT’s in a gaming sense; They’ve got a mobile game launching relatively soon.

All this is to say, it’s coming. The skillset isn’t quite there amongst broader developers yet. Once these centralised bodies have aided in the spread of a larger market for the ability to create such platforms? It’ll quickly find it’s way back home to a more decentralized world.

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I’ve heard God’s unchained mentioned a few times over the last month or so. I looked up some youtube videos on it, cooperpitch i think it was. Looks really interesting and i’ve been planning on giving it a shot. I’ll get on it this weekend

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Let us know how you go!

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Yes, im sure that @Matthew would be happy to give us here more information a bit later today as we are at a very important event in London today.

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I’ll be sure to report back! Hopefully it’s not too good otherwise I may go missing :joy:

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