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As blockchain technology continues to dominate headlines, cryptocurrencies—especially their valuations, and potential to disrupt the financial industry—are of increasing interest. However, the average consumer doesn’t understand what a cryptocurrency is or why it matters, let alone how the technology behind it works.
As a result, the public perception of blockchain application is increasingly narrow-minded and short-sighted. Likewise, the technology’s potential and long-term implications remain esoteric and largely ignored. This is not limited to blockchain as a whole but is true for its applications like NFT as well.
The “best” part of the NFT market craze is that it appeals to non-technical people who don’t understand what they are buying but desperately want it to work. The best part of this scam is that the NFT does deliver a certificate of ownership but it is about as valuable as those included with the beanie babies.
Parametrise will make NFTs accessible to the average consumer through two main tactics:
On a more technical level, we plan to innovate within the blockchain space through practical experimentation and application of digital scarcity, digital collectibles, and non-fungible tokens. By normalizing the practical application of smart contracts and cryptocurrency transactions, we will empower everyday consumers with a basic fluency in distributed ledger technology. Likewise, by showcasing a practical use for blockchain technology outside of the financial industry, we hope to broaden the public’s understanding of the technology and its potential application. Note that this whitepaper is provided for informational purposes only, and does not and will not create any legally binding obligation on the authors or on any third party.
In general, tokens on the blockchain are fungible. The value of every token is the same and, similar to cash, it doesn’t matter what token you receive. Because of this, blockchains track counts of tokens instead of the specific tokens themselves. This works well for things like stocks or currencies, but because Parametrise NFTs are genetically unique, we needed to create a non-fungible token environment (our upcoming exclusive marketplace). Using this platform, users will be provided by both an interface to browse unique items and robust smart contracts to conduct transactions.
In developing Parametrise, we were motivated by blockchain’s public perception and how the following issues are potentially detrimental to the technology’s potential:
tied to the headline-grabbing cryptocurrency valuations
These two issues contribute to a larger issue: a shortage of meaningful innovation with blockchain technology. To that end, our product aims to not only address these broad issues, but it aims to innovate within the space by practically exploring:
Instead of pursuing an ICO or IDO, Parametrise operates on a sustainable revenue model. We will auction our creations with a truly fair starting price that is affordable for the majority of our community members. However, Our NFT sales are capped according to each collection’s definition. Like any other NFT artists, we also receive the revenue from secondary sales and it varies depending on each collection.
Our team believes in the potential of blockchain technology and especially NFT applications, but we’re frustrated by the state and direction of its public perception especially in the NFT field.
We genuinely believe that education, an accessible user experience, and practical application are the missing factors for broader adoption. We still see numerous opportunities to innovate with blockchain technology specially in the NFT space. With Parametrise, we’re exploring digital scarcity, an exciting but underexplored concept that blockchain empowers.
We can’t be sure that Parametrise will be a runaway success, a flash in the pan, or a blip on blockchain’s biography. Like all things related to blockchain, the future is in flux.
But we do believe in a few things:
The Parametrise Team