DamoTalks Issue 26: Will the NFT public chain Flow, which targets 1 billion users, burst out of unlimited potential?
DamoTalks Issue 26
Guest: Ms. Amie, Head of FLOW China Community
Moderator: Lu Fei-Co-founder of TokenDamo
Live Assistant: Lin Lin
Live time: 15:30, September 9, 2021
The NFT sector burns enthusiastically in the summer of the encryption circle, and Flow is the top public chain in the NFT field. The Dapp NBT Top shot with 200W users links the encryption circle and the sports circle with a large number of fans. In the future, it will expand to film and television, games, etc. Many traffic areas are worthy of attention.
Q1: Welcome Amie to our interview, please introduce yourself? What are your working experience and what sectors are you currently responsible for?
Amie: Hello everyone, my name is Amie. I have been involved in blockchain since 17 years and have been engaged in operations-related work. I am honored to be able to join the Flow team in July this year, responsible for the operation of the Flow Chinese community, including online community operations, event operations, and offline event planning and organization, to help more users understand Flow and participate in Flow. Ecological construction is coming.
Q2: What was the original intention of Flow? Why do you want to do such a public chain project?
Amie: Flow was developed by Dapper Labs. Dapper Labs is a Canadian company and the team that created CryptoKitties. In 2017, when the number of collectible game users running on Ethereum exceeded 10,000, the Ethereum network collapsed. At this time, we feel that we need a high-performance public chain to carry more users. Then Dapper Labs’ vision is to attract up to 1 billion people to use our DApp, but at that time no blockchain platform had such expansion capabilities. Therefore, the Flow Chain was born.
A faster decentralized network can empower the entire decentralized application ecosystem, especially games and digital collectibles. Flow’s core architecture ensures that network performance is improved without sacrificing decentralization to meet the needs of mainstream applications. With Flow, developers can easily build applications that can handle hundreds of millions of users.
Q3: What problems does Flow solve or what kind of needs in the market? Compared with other public chains, what are the advantages of Flow in the NFT field?
Solved problems and advantages:
- The scalability problem of the public chain**, developers who have tried to use Ethereum to develop Dapps all know that Ethereum has scalability problems: the throughput of the Ethereum network is only about 13–15 transactions per second. Make it difficult to cope with large-scale usage scenarios. Ethereum sees sharding as a way to scale the blockchain horizontally, while Flow uses its multi-node architecture to achieve vertical expansion. Responsibilities are divided among nodes according to their work to ensure overall concurrency efficiency.
2. User 0 threshold to participate. **So far, the high Ethereum handling fee has been criticized by users. Sometimes the cost of transaction fees is much higher than the transaction itself, and Flow developers/users only need to pay transaction fees that cost almost zero. Since the design of Flow’s own transaction mechanism allows developers and service providers to pay fees on their behalf, developers who are mainstream-oriented eco-products can achieve considerable convenience. Users can also enter the world of blockchain without having to prepare Gas Fee first.
3. Smart contracts that can be continuously upgraded. Let’s take Ethereum as an example. After the smart contract of Ethereum is executed, the network status cannot be changed. And Flow allows developers to publish smart contracts in **”test state”** on their mainnet, so that the original author of the contract can update the code step by step. Users can choose to use the code at a certain point in time, or wait for the code to complete before establishing true trust in it. Once the author of the smart contract is convinced that the code is safe, they no longer need to control the code, and from that moment on, the smart contract becomes immutable. By checking and fixing the code, developers have the opportunity to greatly improve the security of smart contracts for end users.
4. Strong IP operation capabilities and support for the ecology. Flow is a strongly supported ecosystem. We hope to help the project succeed and provide various technical, financial, and market support to the project. Dapper labs will contact top IP resources around the world. For example, it has cooperated with the NBA to create a benchmark case of NBA Top shot, and it is also the first blockchain application that is truly recognized by the mainstream world. It has been online for less than a year and has more than 200 users. Million, with a transaction volume of 1 billion U.S. dollars. Flow also cooperated with Canadian e-commerce giant Shopify to launch an online NFT store. Mainstream IP/brands can operate directly on Shopify to open their own NFT stores. Flow also launched nWayplay in cooperation with the International Olympic Committee and Genies Marketplace with Warner Music. This series of high-quality ecological projects have laid the foundation for the growth of Flow’s meta-universe ecology in the future. At the same time, Flow is also one of the only two public chains officially recognized by VISA and was named in the research report of VISA NFT.
Of course, there are many advantages that I won’t repeat here. Flow has always adhered to the concept of serving 1 billion mainstream users, and constantly improves its own public chain infrastructure. Up to now, developers have continued to build tools and services to make Flow the best consumer application platform with improved scalability, composability, and user experience. At present, more than 2 million accounts have been registered on the Flow mainnet, and more than 500 ecological applications are being built in the ecosystem.
Q4: NBA top shot is the most well-known Dapp on Flow. What do you think of the concept of “ip+NFT”?
NFT is essentially a carrier. Just like the past slate carvings, paper books, and electronic files, NFT is an advancement in the carrier. Compared with the previous generation carrier, it has lower production costs and more convenient storage methods. , Freer dissemination methods, more efficient distribution capabilities, and richer content forms.
IP+NFT is actually not a particularly advanced concept. Before there was no NFT as a carrier, there were many star cards on the market. If it must be in the form of IP+, you can call it a combination of IP+hard cardboard; Fire’s Bubble Mart, you can call it the combination of IP + PVC (PVC is the material for making Pop Mart), and so on… So NFT is not a sophisticated concept, it is an evolution of a carrier.
The traditionally sold star card-he is just a piece of cardboard that has been given an NBA ball-shaped photo or a highlight moment of a goal or a signature, and he is static. But now, with the existence of NFT, it can be cast on the blockchain and displayed to users in the form of rich media such as videos and pictures. And it is not easy to be destroyed, and it can be better spread to all parts of the world. Therefore, what we need to do is how to diversify the presentation of IP+NFT so that more mainstream users can understand, rather than overly myth the concept of IP+NFT.
Before we were in the process of merging the decentralized world and the centralized world, it was difficult to find non-financial-driven growth points. For example, in traditional cognition, one would think that big brands have a lot of audiences, great influence and monetization ability, so why should they embrace the blockchain? In fact, big brands also have long-term pain points. For example, if you want to establish contact with your customer base, you often need to rely on a large Internet technology platform as an intermediary. In this process, a large part of the profits will be taken away by the platform. However, after the emergence of NFT, big companies, brands and artists like NBA realized that NFT can allow them to have a more direct and natural interaction with fans, and has a long tail effect. For their audiences, NFT can not only collect more diversified content with a more equal opportunity, but also can unlock some social attributes by purchasing NFT, so that collection is no longer a lonely experience and opens a window for new dimensions and increments. In this process, Flow helps them embrace the blockchain by connecting and co-innovating with big brands. And in this process, more and more connections will produce more and more network effects, making Flow truly a bridge between the centralized and decentralized world.
Q5: How is the development of other Dapps on Flow? Are there any projects worthy of our attention?
Amie: Thanks to the construction of Flowchain by developers all over the world, it has become the home of countless communities in the fields of art, music, games, technology, and sports. In the past year, the application and activity of blockchain has grown exponentially. The rise of NBA Top Shot marks a significant increase in mainstream society’s interest in NFT and the entire cryptocurrency field-the partners of the Flow ecosystem have seized the opportunity smoothly. There are more than 2 million accounts on the Flow mainnet, and the momentum is unprecedentedly strong. More than 500 projects are under construction on the Flow ecosystem.
Every user can find their interests on Flow. If you like games, or just like to hang out on live streaming platforms such as Twitch, you can check out Dapps like Dark Country, Enemy Metal, MotoGP Ignition and Chainmonsters, or collect moments through Eternal and support your favorite Twitch anchors.
If you like sports, you don’t need to bother anymore-NBA Top Shot, Fantastec Swap (football), nWayPlay (Olympics) and the upcoming UFC platform are just the tip of the iceberg of the future Flow ecology. There are also some unique experiences. For example, you can find rare and well-planned NFTs on platforms such as Vault by CNN to add interesting elements to your collection. Moreover, these magical contents have been brought together in open markets such as VIV3 and Mynft, and Rarible and OpenSea will also support works on the Flow chain in the future.
Q6: There are many sky-high NFT projects such as CryptoPunk and Bored Ape Yacht Club in the NFT market of Ethereum. What do you think of this phenomenon? How should ordinary players in the crypto circle participate in such a market?
Amie: Flow’s focus is actually different from other chains. Our focus is on a low or even no-threshold experience to let more mainstream users experience the charm of blockchain’s convenience, security and other features. We will not pay too much attention to short-term surges and falls, but pay more attention to long-term value. Our goal is one billion users, not how many price ceilings a single currency or NFT can reach in the bubble market, because this is unsustainable.
For users in the encryption circle, it is important to understand that, first of all, NFT is not an imaginary bubble concept, but a new carrier of culture and ideology. It is an inevitable product of the evolution of civilization, an iterative product after slate carving, paper books, and electronic files. NFT is still at a very early stage. The birth of new things will surely bring speculators and create bubbles, but the potential of NFT as a carrier of culture is huge.
On the whole, the risk of buying NFTs with an investment mentality is very high. Because first, the number of NFTs is just the beginning now, and it will explode afterwards, with tens of thousands of times of space. Originally, due to the imbalance between supply and demand, some NFTs will have a relatively high premium. However, as the number of NFTs continues to increase, the prices of these NFTs will gradually return to where they should be. In the case that everything can be NFT, the number of NFTs will increase explosively.
Secondly, NFTs generally have relatively low liquidity, and there are often situations where there is no market for prices. Therefore, the risk of buying NFT items with an investment mentality is very high. It is better to research and invest in NFT infrastructure and platforms (Flow), if it is out of interest or like to buy collections. From the perspective of collection value, items with historical representation, strong resonance, and universal aesthetics are often more valuable.
Q7: In addition to NFT, will Flow consider developing a DeFi ecosystem?
Amie: I have to admit that in the past two years, Defi has become a hot topic in major public chains. DeFi is the underlying infrastructure of the blockchain, and NFT is the atomic basis for non-standard things in the digital world. Looking back at the real world, financial scenes and non-standard commodities are inextricably linked. It is foreseeable that the combination of DeFi and NFT in the digital world has huge potential and space in the future. Flow’s current ecology is also actively developing Defi+NFT ecological projects, such as Blocto swap and other projects. And in the following Flow global hackathons, we also encourage more developers to develop and improve Defi infrastructure on the Flow chain.
Q8: What do you think of GameFi+NFT, what do you think the future blockchain game should look like? Does Flow have any game-related plans?
Amie: Gamefi is actually a combination of game and decentralization. A simple understanding is that financial realization is added to the game, making the process of making profits a fascinating and interesting experience, such as the most popular Axie Infinity game at the moment. Many of the current GameFi+NFT games mostly revolve around **“DeFi+NFT”, while ignoring the most important “Game”** itself.
In the ecological project that Flow chooses to do chain games, it pays more attention to the persistence and playability of the game. For example, Flow recently launched a new chain game blockchain version of Pokémon ChainMonsters. Its founder Max mentioned: “The most important thing about a game is its sense of experience and playability. No matter whether it has NFT or cryptocurrency, it cannot affect this. Because a good game can be in the blockchain It can also be released on Steam, Switch and other platforms. NFT is more like icing on the cake for a game, rather than being built around NFT.” We very much agree with this view, only the game itself has enough playable Sex can attract players to stay for a long time, and can develop for a longer time. Both Defi and NFT are to help the game icing on the cake, not a necessary factor.
Q9: What plans does Flow have in the near future?
Amie: The original intention of creating Flow is to build a high-performance, decentralized, and developer-friendly blockchain, so that mainstream users can enter the decentralized world without perception. In the past, the NBA Top Shot and NBA Top Shot that everyone knows is a way that allows these mainstream groups to own blockchain assets through credit card purchases. Then we call this method Non-custodial implementation, which is “unmanaged application”.
Then the next goal of Flow is to make this unmanaged application mechanism be used in more of Flow’s ecological projects. At present, the products launched on Flow ecology, Vault by CNN, MotoGP, ChainMonsters, etc., are all through the integration of FCL (Flow Client Library) + Blocto (Flow ecological decentralized wallet) to provide consumers with consumer-friendly fiat currency payments Options. So for some people who have not been exposed to cryptocurrency, they can choose to pay in fiat currency (credit card) to participate in the dApp; conversely, users in the cryptocurrency circle can choose a decentralized wallet to complete all transactions; therefore, regardless of the crypto circle Or mainstream users, their process of experiencing the dApp in the Flow ecology is very smooth.
In addition to the construction of Flow’s own infrastructure, we have also cooperated with platforms such as **GigLabs** and **Shopify** to help brands and IP operators build tool cabinets on Flow so that brand IP can be quickly customized NFT experience. Brands and IP operators may not even need to have technology to build NFT solutions on the Flow chain through Giglabs, Shopify, etc., to better interact with their fans, customers, and communities. Let more mainstream users enter the decentralized world without perception.
Roll a snowball: How does flow link to the meta universe?
Amie: Answer this question. Metaverse is currently a hot topic this year. In the future, NFT must be one of the core elements of the construction of the meta-universe. It is a new carrier revolution. It can not only represent all independent things, but also carry and retain our knowledge and cultural achievements, and be the most efficient in the meta-universe. Way to pass on. NFT can help us create a universe exactly like the real world in the “meta universe”, is a bridge that helps connect the real world and the digital world, and is also an important economic component of the “meta universe.” Therefore, it is essential to have a public chain that can carry a large number of users and is more suitable for NFT. Therefore, Flow has made a lot of efforts in this direction. For example, in the construction of infrastructure, Flow has high scalability. For users and project parties, it is possible to carry out ecological development and experience on Flow at a cost of 0 gas.
I don’t take the initiative: I want to ask questions. At present, many new public chains are developing very well. Among them, avax, matic, ksm, and sol all have many similar advantages, and they also have a very strong user base, and there are many nfts, so flow public chains How to stand out in such a fiercely competitive mainstream public chain? What are the specific measures?
Amie: The summary here is that Flow has opened up the “fiat currency entrance”. A user does not need to know what cryptocurrency is, and does not need to download any Metamask wallet, as long as they use traditional credit card payment methods, they can experience the ecological application on Flow. In addition, Flow has also created an NFT solution for the brand/Ip. For example, Flow and Shopify (Canada’s largest e-commerce platform, similar to Taobao) brand owners and IP parties only need to use MINT tools to cast NFTs on Flow as other merchants on Shopify, and then they can sell to mainstream users on Shopify. It is equivalent to selling your NFT products on Tmall.
Jaden: At present, many public chains seem to be built for specialized games or NFTs, such as wax and hive. What are the advantages of flow in this game ecological chain?
Amie: This question is actually similar to that asked by the host just now, which means you didn’t listen carefully! But I will answer again here. At present, many chain game problems ignore the importance of the game itself, but over-hype the financial and NFT attributes of the game. But for users of real games, the “playability” and “persistence” of the game are the foundation of a game. Both NFT and Defi attributes are the icing on the cake for a game. We will not pay too much attention to the price ceiling that a single game or NFT can reach in the bubble market, because this is unsustainable. It is also bad for ecological development.
Once traditional games (such as Pokémon, Glory of the King) enter the NFT market, the current chain game project is easy to…
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