Blockchain network Blast is on the cusp of a transformative moment with its total value (TVL) rising to $2.1 billion, heralding the impending launch of its mainnet. This pivotal moment is not just a financial milestone, but a beacon for artists and creators in the digital space, highlighting the enormous possibilities and inherent challenges of navigating the Web3 ecosystem.
The promise of explosion: unleashing creative possibilities
Blast stands out as a promising platform for artists and makers, offering a unique mix of capabilities that could redefine the art world. With its strategic focus on rewarding both whales and DApp developers via a $Blast token airdrop, Blast is poised to attract significant attention and investment. This influx of resources and interest could in turn foster a vibrant ecosystem in which artists can thrive, enabled by low entry costs and the potential for substantial rewards from the airdrop.
Additionally, the discussion around allocating airdrop funds, including a contest that awarded 4% to the winners, has spotlighted the potential for generative art platforms on Blast. This focus not only highlights the network’s commitment to innovation, but also positions it as a fertile ground for artists exploring new frontiers in digital creation.
The double-edged sword: navigating the DeFi-dominated waters
However, Blast’s journey on the blockchain is not without dangers. The prevailing ethos in the Blast ecosystem, heavily influenced by the DeFi (Decentralized Finance) sector, presents a dichotomy for purists committed to the ideals of digital ownership and artistic integrity. This DeFi dominance raises concerns about the overshadowing of art-focused initiatives by “degen” projects, potentially diluting the essence of what many artists are looking for in the blockchain space: a platform that values and prioritizes their work and principles .
The inevitable migration: to layer 2 solutions
Despite these challenges, the migration of most art to Layer 2 solutions (L2s) seems inevitable, offering a pragmatic path forward. L2s promise to alleviate some of the liquidity issues faced by art NFTs by offering faster, cheaper transactions while maintaining security and decentralization. This shift could democratize access to blockchain technologies for artists, especially those not yet established, by leveling the playing field and making it more affordable to mint and trade NFTs.
Conclusion: navigate the future with cautious optimism
As the launch of Blast’s mainnet approaches, the art community is at a crossroads. The platform’s potential to revolutionize the way art is created, shared and appreciated is enormous, but requires careful navigation through the DeFi-dominated landscape. It will be critical for artists and creators to leverage Blast’s innovative features while staying true to its core values of digital ownership and artistic expression.
The Blast Mainnet Points API is designed to enable smart contracts to earn and distribute two types of points, ‘Blast Points’ and ‘Blast Gold’, to users as an incentive for dapp growth. Initially, only external accounts (EOAs) can earn points for bridging assets to Blast, but with the launch of the mainnet, smart contracts will also be eligible based on their total value locked (TVL).
Most important features:
- Blast points: Aimed at encouraging the use of dapps by allowing smart contracts to distribute points earned from bridge assets (ETH/USD) to users. This feature addresses the barrier for users to deposit funds into smart contracts, by allowing those contracts to send bridged asset points back to users.
- Blast Gold (developer points): Post-mainnet, these points will be manually distributed to smart contracts to drive dapp growth and create long-term value. Dapps are expected to redistribute 100% of these points to users. Distribution will be based on both objective and subjective criteria, including dapp traction and alignment with Blast’s features.
Integration details:
- Smart contract operators can integrate with the Blast Points API by configuring their contracts to be compatible with the API’s authentication mechanism and managing point distribution via an off-chain script.
- The API supports various actions, including obtaining an authentication challenge, submitting and canceling batches of point transfers, and checking the balance and status of these transfers.
- A test environment is available for testing using the API base URL provided in the document.
Security and compliance:
- The document highlights that attempts to create liquid proxies for Blast Points and Blast Gold will result in rewards being wiped out, underscoring the focus on real dapp growth and user engagement.
TL; DR
Blast blockchain offers a promising but complex landscape for artists, combining opportunities with challenges arising from its DeFi-focused ethos. Nevertheless, the migration to L2s could democratize art creation and distribution, marking an inevitable shift towards a more inclusive and equitable digital art world.