A quick overview of The Open Network's NFT ecosystem
The Open Network has more interesting things than you thought...
The Original Piece was written by Jason from DareNFT / Xom NFT here.
The Open Network (TON) is a decentralized and open internet platform consisting of components such as TON Blockchain, TON NFT, TON Storage, and TON Sites. TON Blockchain serves as the core protocol connecting the infrastructure within the TON Ecosystem.
TON aims to achieve widespread cross-chain interoperability while operating in a highly scalable and secure framework. It is designed to handle millions of transactions per second (TPS) with the potential to accommodate hundreds of millions of users in the future.
TON Blockchain functions as a distributed supercomputer or "super-server" that offers various products and services to support the development of a decentralized vision for the new internet.
Initially designed and built by the Telegram team in 2018, TON was a fully centralized Layer 1 blockchain known for its scalable performance, fast transactions, low fees, and user-friendly applications. However, legal disputes in 2020 led to the Telegram team settling with the U.S. Securities and Exchange Commission (SEC), resulting in the discontinuation of TON's management. Subsequently, the project was taken over by community developers and renamed The Open Network.
The Open Network employs a Proof-of-Stake (POS) consensus mechanism, and the TON token primarily functions to pay transaction fees, settle payments, and verify transactions. The current annual inflation rate, based on TON's fundamental parameters, is approximately 0.6%.
In this article, we will delve into TON NFT to gain a thorough understanding.
(1) Wallets:
First question is always be ‘ how can I access to this blockchain network?’ Here’s we guide you with 3 most-used wallets on TON.
@Wallet bot: It is the TON wallet that you can access from your own Telegram account. Users can purchase tokens using bank cards, receive and trade tokens, and make transfers.
It’s probably easiest way for you to access to The Open Network and open a wallet account. Telegram is currently standing in the top #3 most-used messaging app, so we can expect the @wallet bot to be an important onboarding hook for crypto in the next cycle.
@wallet bot UI
Tonkeeper: It is an unmanaged wallet based on TON that allows users to have more control. It includes features such as trading, transfers, instant sending, and receiving of funds within seconds. Additionally, users can also buy, sell, and trade TON through other DeFi applications like Uniswap, along with price charts to track token value changes.
Tonhub: It is a non-custodial wallet with advanced security and user privacy as the focus. It enables easy and secure access to the wallet and sending or receiving TON via PIN or biometric login.
After being onboarded to The Open Network from @wallet bot, Tonkeeper, or Tonhub, you can start to experience what the blockchain has on its app layer. In this article, we focus on NFT-related things, including Social platforms, NFT marketplaces, and domain apps, that you can try out
(2) SocialFi (Social and Financial Network):
Ton.Place: It is a social network game that allows users to earn $TON by posting exclusive content and messaging followers. Players can access all content creation tools by logging into their Ton. Place your account through Telegram and activate registration. Players earn TON by posting content (posts with more likes earn more TON), sending messages (fees for private messages with up to 10 image or video attachments), and referring friends (invite friends and receive rewards for their purchases and profits).
(3) NFT Marketplace Platforms:
Disintar - TON Metaverse: It is one of the primary NFT trading platforms on the TON blockchain. In addition to providing basic NFT trading functionality, content creators can publish their works as NFTs on the Disintar trading platform without requiring technical support. Furthermore, each user can create an NFT Room for transfers, sales, and storage. Currently, Disintar is in the beta version.
TON Diamonds - NFT Marketplace on TON: It is one of the main NFT trading platforms on the TON blockchain. Regular users are charged a 5% marketplace fee for trading NFTs on TON Diamonds. However, users can reduce transaction fees by purchasing official diamond-level NFTs at different tiers (Small Diamond - 2% fee, Medium Diamond - 1% fee, Big Diamond - users have the opportunity for additional airdrops, priority purchases, participation in IDOs, etc.). Currently, TON Diamonds offers 6 types of NFT collections such as TON Diamonds and StickerFace Wearables for trading. In addition to direct purchases, users can also acquire NFTs through auctions.
Getgems - The Open Network Marketplace: It is a rich NFT marketplace for collectors on the current TON blockchain. Users can buy, sell, mint, and transfer NFTs on this platform. Users are charged a 5% fee for each transaction, but there are no fees for issuing or transferring NFTs.
(4) Domains app:
TON DNS: TON DNS is the domain name service provider on the TON blockchain. Think of it as an ENS domain service but with “.ton” and on The Open Network. Users must register ".ton" domains with a minimum of 4 characters and a maximum of 126 characters. ".ton" NFT domains function similarly to the popular ENS, where users can choose to store, gift, or sell their registered domains. For initially unregistered domains, they can be purchased through public auctions. NFT domain transactions on the TON DNS can be traded on NFT marketplaces like Getgems.
Fragment: It is a decentralized platform on TON where you can get your name on Telegram chat app that has 700+ million users. Fragment allows you to buy your name and assign it as a link for your personal account, channel or group. Unlike other mentioned NFT marketplace, Fragment has the closest integration with Telegram. It is a dedicated trading platform for Telegram usernames and virtual phone numbers, with transactions settled in TON. The original owners receive all income after deducting a 5% platform fee and conversion fees. Users can also auction attractive and secure Telegram usernames.
Conclusion
Overall, the TON NFT ecosystem has various dApps to cater to different user needs, but it is still in its early stages. While the initial Telegram team is no longer involved in the development process, TON developers and the community still maintain a relationship with Telegram, which has over 700 million users. This is a significant advantage in building the future ecosystem of The Open Network.