Yesterday we had the opportunity to showcase Koii’s creator-friendly features at Sanctor’s Demo Day – a virtual event geared towards rising stars within the crypto space.
As you may know, Koii was created to empower anyone to create and share new forms of content on their own terms – and be rewarded for their efforts. Koii’s scalable consensus protocol tracks attention across the open internet while ensuring that content creators can mint and distribute new digital assets such as NFTs in a way that is substantially more cost-effective and self-sovereign than what the Ethereum network currently allows.
All these features are brought to life via “Narcissus”, a limited-edition series of atomic NFTs the Koii team unveiled during Sanctor’s Demo Day. Like other Atomic NFTs, Narcissus Flowers grow, morph, degrade, and regenerate based on external stimuli which is captured using Koii’s Proof of Real Traffic (PoRT) consensus mechanism. The Koii Tasks enabled via Koii’s PoRT protocol enables these Narcissus Flowers to evolve in response to how much attention they receive – although the specific parameters that dictate Atomic NFTs are essentially limitless. And while these Narcissus Flowers may seem a lot like other “evolving NFTs” currently on the market, Koii’s atomic NFTs have several game-changing characteristics that benefit our growing community of content creators. Most notably:
Unlike other dynamic NFTs, Atomic NFTs are completely decentralized and self-contained.
As a result, Koii doesn’t need to manage a library of Narcissus NFTs, and once someone has created an atomic NFT they are essentially autonomous, “living” creations. In other words, the features embedded within Atomic NFTs directly align with blockchain’s ideals of decentralization and individual self-sovereignty. This is a significant improvement over other dynamic NFTs, which often rely on external intervention to manually upgrade or evolve, and, as such, do not enable the same level of creative autonomy and flexibility as Atomic NFTs. The Atomic NFTs that creators bring to life via the Koii network will be increasingly cross-compatible with multiple blockchain networks via Koii’s exchange bridges, adding more flexibility and depth to our rapidly growing creator community.
Koii makes it easy for anyone to create, share, and profit from their content creations.
Creators can design and mint their own Atomic NFTs simply, cheaply, and quickly using the Finnie Wallet in Koii’s Web3 browser extension. Additionally, since every Atomic NFT is essentially a single file that is digitally imprinted on Arweave’s ledger, they can be freely shared. Currently, users are able to share their Atomic NFTs by embedding them on their websites or by sharing a link to Koi.rocks. From there, Koii automatically rewards creators with newly minted Koii every day based on the attention their work receives. Koii is actively developing more portals and expanding the ways in which you can share and profit from your digital creations, and the Koii ecosystem is only beginning to bloom.
On the other hand, it is very difficult for non-technical users to design, deploy, and distribute NFTs on networks like Ethereum. Building on Ethereum requires a deep understanding of the Web3 programming language Solidity, and Ethereum-based content creators also need to rely on multiple platforms beyond Ethereum in order to bring their creations to life. For instance, their media files will need to be uploaded to a decentralized storage network such as Filecoin and publicly hosted on something like Unstoppable Domains. Additionally, you’ll need third-party software that allows your Github to interact with those networks before you can begin building and testing a new Ethereum-based application.
Atomic NFTs are 1000x more resource-efficient than Ethereum-based NFTs.
While Koii is making it easier to create and share new digital assets, the ecosystem also dramatically lowers the financial costs associated with on-chain processes. All the aforementioned steps needed to build something on Ethereum would likely cost you hundreds of ETH to execute, whereas it costs only a tenth of a penny ($0.001USD) to mint an Atomic NFT and store it forever on Arweave’s blockchain using the Koii Network.
Koii’s resource-efficient design is enabled by its proprietary PoRT protocol. Every time someone views an Atomic NFT, they automatically submit a PoRT transaction to the network, which is essentially a tiny PoW request. These transactions are then aggregated into a single batch file along with other recent Koii Tasks, i.e. modular executables that every node can participate in to power Koii’s decentralized network. While Koii’s nodes validate this batch file of Koii Tasks using a form of PoW, the computational lift involved is extremely low since only the file’s hash is being processed. All of these protocols operate quietly under the hood, thereby ensuring a smooth user experience and powering a new type of NFT unlike anything seen before.
This streamlined model substantially lowers the costs involved with expressing yourself through blockchain-enabled projects compared to a network like Ethereum, which requires that every on-chain action be validated independently and in full via PoW.
Narcissus introduces new possibilities, but not the limits to what’s possible
Every flower you’ve ever given or received represents a specific feeling or hope. We gifted every Demo Day participant with their own Narcissus Flower because we believe it embodies an entirely new way of creating, sharing, and capitalizing online content – and because we hope this Atomic NFT encourages you to take your creative pursuits to the next level.
In other words, these Narcissus Flowers demonstrate the proprietary technologies that set Atomic NFTs apart from other nonfungible assets, but they don’t even begin to scratch the surface of what’s possible with Koii. We’ve made it easier than ever for anyone to design their own self-contained Atomic NFTs and define how they will evolve. This is crucial because every individual or community building on Koii has their own definition of what attention means and how their creations should respond to viewers, and Koii lets you bring these ideas to life.
And while the creation of dynamic, self-evolving forms of content has the potential to revolutionize the attention economy, this doesn’t even begin to scratch the surface of Koii’s potential. Koii makes it possible for any kind of artist, entrepreneur, or inventor to create NFTs that embody a wide range of dynamically responding software powered by chain-agnostic nodes. Narcissus is based on content viewership parameters, which was the first Koii Task we set up for the community, but that is just one of the many ways to use this technology. NFTs are meant to be so much more than digital collectibles, and the dynamic, self-contained and easily shared Atomic NFTs Koii is offering can enable a near-infinite array of chain-agnostic GameFi elements, Artificial Intelligence products, and other decentralized products and services.
Let’s Grow Something Together.
Sanctor Demo Day was attended by hundreds of people – many of whom received their own Narcissus Flower. If you didn’t get a chance to participate, we’d like to extend the party to you via our upcoming Garden Party, which will take place on Monday, September 27 (1PM EST).
Attendees with the Finnie Wallet installed will have a second chance to receive a Narcissus Flower of their own, and the event will feature an exciting roster of panelists who will share their thoughts on the future attention economy!
Every day, more people are gravitating towards smaller, more relatable creators – or coming up with their own niche content – and Koii is providing an exciting new way to do both. There’s something slightly mystical about receiving a dynamic NFT, because you don’t know what it will become over time or what affects its evolution unless you’re told. These open-ended, interactive forms of creative expression will form the heart of tomorrow’s attention economy and beyond, and we’re excited to see you play an active role in it!