The Phantasma Blockchain Could Revolutionize NFTs and NFT Gaming

The Phantasma Blockchain Could Revolutionize NFTs and NFT Gaming As a Crypto Enthusiast and Software Engineer, I often enjoy learning abo...

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The Phantasma Blockchain Could Revolutionize NFTs and NFT Gaming

As a Crypto Enthusiast and Software Engineer, I often enjoy learning about new and novel technologies in the Web 3 space. Researching new Dapps, Chains, Tokens, and Protocols has become a hobby of mine and I thought it may be useful to some to create posts about my findings. Today I will touch on a blockchain that I believe is full of potential and has been built from the ground up to resolve some of the biggest issues with NFTs…

Having assisted in multiple NFT launches, from art/metadata generation, to Smart Contract Development, to front-end minting Dapp work, I have seen first-hand the power, and the problems, of NFTs.

Immutability is what makes an NFT an NFT. The guarantee that the token you hold is unique and unchangeable is how NFTs derive their value - you are the sole owner, operator, and purveyor of your fine monkey painting. However, it is due to this immutability that developers, especially in the NFT Gaming space, have to create complex and often arduous work-arounds to allow NFTs to evolve and grow within their game or service. NFTs have been hamstrung by their immutable nature to either be burned and destroyed, or remain static and boring.

Wouldn’t it be cool if our NFTs could keep their unique, immutable value but also evolve over time? Wouldn’t NFTs be more exciting if they could be created out of multiple sub-NFTs? Or even if tokens could be hidden within an NFT, locking them inside the NFT until they are opened like a mystery box or a special event is triggered? What if all of this was possible while keeping the uniqueness and on-chain verifiability that makes NFT’s novel and valuable in the first place?

This potential is what the Phantasma blockchain is unlocking

Phantasma has been built from the ground up with what they call “Smart NFTs”. A system that unlocks a vast amount of additional functionality compared to the standard NFT implementation. All NFTs on the Phantasma Chain have their metadata split into two sections, ROM and RAM.

Per Phantasmas Documentation:

The Smart NFT’s ROM data is immutable, and cannot be changed by anyone after its creation. Here developers and artists can store the core characteristics of their creation, never worrying that someone may be able to tamper with it or alter it in any way. The Smart NFT’s RAM offers a revolutionary new layer of trustless programmability for developers, and enables NFTs to evolve over time without compromising trust between creators and users.

Thanks to this dual system, Phantasma is the perfect chain for NFT game developers and artists looking to create more interactive, dynamic NFTs. Take for example an RPG: character attributes like level, experience, gear, title, reputation, age, etc, can be programmatically stored inside of the NFT in a totally decentralized and trustless way without ever needing a centralized database.

Multi-Layer NFTs

Multi-layer NFTs

Phantasma Smart NFTs can also be made up of any number of sub-NFTs. From a gaming perspective, this allows developers to create complex, multi-part characters, vehicles, or objects within a game that can easily be traded, upgraded, and customized. A perfect example of this technology is GOATi’s strategy racing game “22 Racing Series” where your vehicle is a single Smart NFT composed of parts (wheels, engine, body, etc) that are all individual NFTs themselves!

In addition to NFTs becoming dynamic, the Phantasma Chain also features super low minting costs (at the time of this writing it is a fraction of a penny) as well as a carbon neutral footprint. Through their Proof of Stake consensus mechanism, the entire Phantasma blockchain consumes a mere ~52,500 kWh per year. When compared to the Ethereum blockchain, Phantasma uses 660,000 times less power!

When you combine Phantasma’s Smart NFT technology, its super low mint costs, and its carbon neutral design, Phantasma becomes a compelling choice for any developer or artist looking to create unique, dynamic, and revolutionary NFTs! I believe this chain has huge potential and will be starting my own development Phantasma this week!

What are your thoughts on Phantasma and other alternative blockchains? Do you think there is value in Smart NFTs? Let me know!

Feel free to follow me on Twitter, I am always happy to answer any questions, developer specific or otherwise!