Hi! We are here to — Introduce ASUR and the underlying concept “Next-gen NFTs” on which the ASUR NFTs are based. Continuing, we will answer two key questions: “why do we need ASUR?” and “why now?”.
A brief about ASUR
Asur is a digital collectible of 666 hand-drawn NFTs created on the concept of Next-gen NFTs. However, Asur in itself is an end-to-end autonomous ecosystem on the Tezos blockchain offering a unique opportunity for all existing projects to come together in one cohesive ecosystem- as a one-stop solution for everything you want from and can do with your NFTs using our infrastructure.
The NFT market and it’s conditions
Eight years ago, the first NFT was minted and sold for $4. And five years ago, “CryptoKitties” was the first widely-recognized implementation of NFTs. Since then, we have seen thousands of successful NFT projects. From Beeple’s $69 million piece to Bored Ape Yacht Club, the NFT space has evolved many times.
With this evolution, NFTs were supposed to offer more than digital art.
We are entering a digital space like we would enter a physical space, when digital space can leverage and align with the physical space so much more intricately. However, existing NFT projects do not have means to unlock the true potential that NFTs have.
Currently, most NFT platforms release their NFTs as singular entities in the market. This ideology limits any potential to upgrade these NFTs. As a result, the creators continue making more NFTs for a steady cash inflow, resulting in dilution of value and a crowded NFT market. The continuous injection of NFTs in the market with similar NFTs has adversely affected the core of these NFTs. Some facts to back these up:
- Majority of the NFT projects have started to die-off, with less than 1% trade in their secondary market.
- The average price of an NFT has dropped over 48% since its peak in November 2021.
- Opensea’s sales volume has dropped by 72% over the past month alone, reaching USD 260m. In comparison, the marketplace generated USD 4.86bn in total trading volume in January 2022.
- Liverpool’s NFT launch flopped in April 2022, with only 5% of the collection NFTs sold in a week.
Why now? — The Problem
- The current NFT model is limiting in nature.
- It lacks immersiveness and henceforth failing to drive value. NFTs do not have any intrinsic value.
- Project are creating utilities but those utilities don’t have an anchor to dictate intrinsic value of an NFT.
- Projects started creating NFTs on artificial scarcity, but this model is not functional anymore.
Projects need an innovative approach to create and transfer value with NFTs. The space has immense potential but it currently lacks the means.
The ideal solution to address the above concerns would be a value-adding mechanism that would not only erase the need to flip to derive value but also allow the creators to generate steady revenue from this mechanism.
If you ask what the NFT space currently needs, it is something that solves this problem from the root itself.
A new model to advance the concept of NFTs, perhaps?
At Asur, we have created Next-gen NFTs, pioneering the idea of revolutionizing how people see and experience NFTs. Next-gen NFTs are an on-chain smart-contract infrastructure that allows NFTs to unlock and exploit their interactive capabilities. Next-gen NFTs are immersive NFTs. They-
- Introduce bilateral transfer of value through NFTs.
- Convert the single-point interaction model of NFTs to a multi-point interaction model.
- Allow NFTs to leverage the existing solutions and tools from ecosystem.
With the concept of Next-Gen NFTs, Asur will be leveraging the existing tools, applications, and services in the Tezos ecosystem.
Asur NFTs work on a task-reward system. The NFT holders will use existing ecosystem projects to complete the assigned tasks and unlock the corresponding reward. For example, a task could be to provide liquidity in the Tezos DEX, and the corresponding reward could be that the user has gained access to NFT staking privileges.
This model will open ecosystem usage for NFT holders and creators like never before. We will continue to share information on our infrastructure and how it works in coming blogs. So, stay tuned!
Sounds exciting, doesn’t it?! Well, we are! For any queries or discussions, email us at- email@example.com or DM us on Twitter.