Wow the last few weeks have been a wild ride!
We’ve had (and survived) our first DDoS attack, had two successful $DOKI halving, Launched four new $AZUKI Pools and some of our community had mild heart attacks when Infura went down a few days ago.
But our biggest (and most controversial) change was to pivot and focus on NFT’s (or Non-Fungible Tokens).
Some of our community were confused with this move, so we want to put your minds at ease and tell you why we’re so excited about NFT’s and then introduce how you too can have your art immortalized on the blockchain and be rewarded for it…but first..
What are NFT’s and and why should you care?
Let’s start with that name — NON FUNGIBLE TOKEN — it sounds like nonsense but its actually pretty simple.
‘FUNGIBLE’ simply means that something is easily replaceable by something identical ie. euros, yen & dollars can be replaced by other euros, yen & dollars. They may have different serial numbers, but they’re essentially the same thing.
Same goes for Bitcoin, Ethereum and DOKI. While the blocks they’re minted on may be different, they’re still Bitcoin, Ethereum & DOKI at the end of the day.
‘NON-FUNGIBLE’ is the opposite. If a collector loans a Michelangelo painting to a museum, and they receive back a counterfeit, they’re gonna be pretty annoyed. The two artworks may look identical, but one of the artists who drew them makes that particular artwork unique, scarce and valuable. In a nutshell, this explains the concept of NFT’s.
Ethereum NFT tokens can be used to represent pretty much anything ranging from unique digital artwork, collectibles, in game assets, to physical real-estate and complex financial derivatives. Its creation is baked into the blockchain, unchangeable, permanent, and easily transferrable. Importantly, this permanence acts as a verifiable source of authenticity, just like a rare museum painting. But unlike the rare Michelangelo painting that will require Fort Knox type security to keep safe, NFT’s can be easily and securely bought and sold online.
The digital collectibles market is currently valued at $5–10bn USD* (Source: Hackernoon). That’s each of those numbers followed by nine zeros. We believe that a significant portion of that will want its integrity and value protected, which NFT’s are perfectly catered to provide.
Can you see why we’re so excited to introduce Retro Japan style NFT’s to the world now?
In the last few weeks, we’ve seen some outstanding homegrown Doki Doki artwork. Now its your turn to produce some and be rewarded for it!
All submissions will be audited and rule breakers will be disqualified.
FINALLY …one last carrot from our developers — we’re currently designing some extra perks for NFT holders on the upcoming Doki Doki NFT Platform…stay tuned!