Benk Board Bozo 🏦

History and Evolution of NFT The history of NFTs, or Non-Fungible Tokens, is a fascinating tale, but where it is heading moving forward ? Let's have a look how did it started: The first NFT in history is shrouded in a bit of mystery and debate. However, the consensus points to "Quantum," created in 2014 by Kevin McCoy and Anil Dash, as the pioneer. "Quantum" was a groundbreaking piece, far ahead of its time. The term "NFT" gained significant traction in 2017 with the launch of #CryptoPunks, a collection of 10,000 unique characters on the Ethereum blockchain. These pixelated characters became highly sought after, with some selling for millions of dollars. CryptoPunks are widely considered to be the original #NFT project, marking a significant milestone in the history of NFTs. Another notable project that contributed to the mainstream adoption of NFTs is CryptoKitties. Launched in late 2017, CryptoKitties allowed users to buy, breed, and trade unique digital cats on the Ethereum blockchain. The project became so popular that it congested the Ethereum network, demonstrating the potential impact of NFTs on blockchain technology. The Bored Ape Yacht Club (#BAYC) is a more recent addition to the NFT world, but it has quickly gained massive critical acclaim. Created in 2021 by product studio Yuga Labs, BAYC features 10,000 unique NFTs. The collection has become a status symbol in the NFT community, with celebrities and influencers showcasing their apes on social media. As exciting they were they are quiet limited in just being jpeg's with rarities on the blockchain. With the birth of BRC-20 Protocol on 08 March, 2023, the magic continued to unfold with the introduction of the #Bitcoin NFT Marketplace. Later in year 2023 inspired by BRC20 the SPL20 standard was introduced as a significant advancement in token standards on the #Solana blockchain. It allowed for seamless communication between fungible and non-fungible tokens, laying the groundwork for a thriving DeFi ecosystem. Now that is where things starting to get exciting and evolution of NFT begins... SOLS is first token issued under SPL20, but it has not drawn wide attention. In December 2023 came project called @bozoHYBRID that introduced Hybrid DeFi, NFTxToken (can learn more from them reading this thread: nitter.cf/bozoHYBRID/status/1758… ) model and brought attention to the space by becoming the most expensive NFT sold on Solana blockchain. Let's dig a bit deeper and discover what they brought to this NFT or Hybrid DeFi(NFTxToken) evolution. Their NFT's are backed by tokens (NFTxToken - one NFT = 800k tokens, with total supply of 1000 NFTs or 800 million tokens) which to me sounds like the obvious next level and natural evolution to the previous generation of Non Fungible Tokens like CryptoPunks and BAYC due to the concepts like: - NFT deflation via token distribution - NFT exposure via fractionalization - Two-way liquidity portals - Built in trustless, permissionless and decentralized OTC (which is multi billion dollar industry) - NFT hedging via synthetic USD - Cross market arbitrage liquidity injections Then they went a step further introducing Solana Hybrid Standart @GoHybridApp introducing bozoHYBRID Gold nugget's PFP's (profle picture collection). Which requires 80k tokens that are locked in to an escrow and you get Gold Nugget profile picture (they look fabulous if you ask me). So, SHS(Solana Hybrid Standard) allows any NFT (or memecoin to create a PFP and back it by their tokens) to be backed by their own token making it more accessible for wider public meaning if NFT is worth millions of dollars you are still able get $100 exposure through tokens. And that's not it bozoHYBRID hinting to us that they are ready to change the game one more time (see here nitter.cf/bozoHYBRID/status/1785… ). Let's wait and see what bozos got for us this time. Now lets explore a bit of a game theory that this evolution brings. Imagine memecoin like $wif that has over 130k holders going Hybrid and introducing 10k PFP collection backed by let's say 1 wif token each. Now there are 130k holders but only 10k PFP's what would the price be of this PFP on the secondary market ? I will leave that for you to decide... Potentially this technology could be used in RWA (real world assets) by putting it on blockchain and fractionalising it. You just have to get creative here I'm pretty sure there are many more ways to utilise this tech... Thanks for reading

new @FrakshaProtocol update just dropped you can now pick up to 6 characters of your token address finally your coin's address can say something instead of looking like a cat walked across the keyboard it's still the same launchpad underneath: live on solana, fixed or scheduled shrinking supply, and creators keep 80% of the 1% trading fee and a shrinking balance with a rising unit price

crypto really launched the same dog 40,000 times and called it innovation at least @FrakshaProtocol is trying a different mechanic fixed supply or scheduled shrinking balances. live on solana. creators get 80% of the 1% trading fee before someone posts a calculator: fewer tokens + higher unit price ≠ free money. check what your whole bag is worth still experimental. fraksha-only trading different mechanics don’t guarantee a good project but they give us something to argue about besides which dog has the best hat

Fraksha offers something different to explore, not just another ticker to watch. Live on Solana, it makes supply part of the experiment. Token balances shrink on a published schedule, changing the relationship between the number you hold and the price you see. The interesting question isn’t whether the chart rises mechanically, but whether a community can build lasting demand around that design. For creators, there’s another reason to explore: configurable supply mechanics and 80% of the platform’s 1% trading fee. That income belongs to creators, not FRAKSHA holders. Explore Fraksha