It's been almost a full year since we introduced Pure NFT technology and the Foil Network ecosystem. Now we'd like to look back and take some interim stock of our work.
In May 2021, without warning, the core and test Foil Network went public. This was quite unexpected as the cryptocurrency industry has a long-established tradition of holding presales rounds first, telling how great everything will be in the future, and only then - releasing the product itself (and not always).
The Foil Network, on the other hand, decided to first release a gentleman's set of blockchain ecosystems and only then, when the technology and benefits are already clear, conduct sales rounds.
Almost immediately, a web wallet was released, followed by crosschain bridges for BTC, DOGE, DASH and LTC cryptocurrencies. This again came, as a surprise, as for many projects, the release of the mobile wallet is an important point of the roadmap, if not one of the fundraising goals... Along with the main network, the sandbox also came out, which was very critical for further development. Pure NFT technology itself was brand new and needed a platform where users could learn how to use it.
After the release of all of the above, the Seed round of sales was launched and immediately the first airdrop.
From June through August, the Foil Network was actively developing. For the first time, on-chain user verification technology was successfully applied. This was a important step, because in addition to supporting Pure NFT technology, it also allows any third-party projects to do without their own user verification system, which will certainly facilitate development in the Foil ecosystem.
Immediately after the first verified profiles were created, the first Pure NFTs on the core network were released. And - right away - "VIP”. Famous bloggers, cartoonists and even musicians marked themselves by creating NFTs! NFT was also released containing the know-how of the blockchain game, along with a set of assets and a built-in rights transfer agreement!
Incidentally, this was the next major step in the development of the entire field of NFT trading. The agreements attached to the tokens were able to set a precedent for the use of NFT within the legal field.
On July 15, a significant event for the cryptocurrency and NFT community took place in Moscow: Foil Network held the world's first offline NFT auction combined with a meetup. FOIL's proprietary technology, Pure NFT, aka "Pure, True NFT," which is a non-interchangeable token with the ability to store data directly in the blockchain and a host of other features, was presented at the event. In particular - with the attachment of a rights transfer agreement directly to the container with the content.
The Foil mobile app was also unveiled. Even the tickets themselves were pre-released NFTs, put up on the Foil Network marketplace built into the web wallet. The event itself was held in the usual for the crypto industry relaxed atmosphere with a buffet and speakers including famous artists, artists and crypto-enthusiasts.
It's worth noting separately the uniqueness of the NFTs for sale. Each either was a unique art object, or had interesting features, or both.
To take a few of the lots from the auction as an example:
Outkast Group's Golden Ticket.
A unique NFT created by the EraNFT team as part of the Labirinth collection based on the band's single "Outkast" and the work of Salavat Fidayi. Not only was the musical release (single) released for the first time as an NFT, but the Golden Ticket itself has some interesting features. So the following features are available to the buyer:
Free lifetime access to VIP seats at all Outkast concerts for 4 people;
name CD with a recording of the new single, exclusive cover by Salavat Fidai and autographs of all members of "Outkast" and Salavat Fidai;
The new single in digital format with a digital cover by Salavat Fidai;
unique recordings of Outkast rehearsals and soundchecks, as well as demos of the new single;
an animated gold card created by Salavat Fidai especially for this collection.
Combining offline and online opportunities predictably led to "Golden Ticket" becoming the most expensive lot at the auction, raising more than 1 million rubles.
The Russian folk costume from the charming Olimpia Ivleva is also a great example of combining the virtual and real worlds. Besides the NFT itself with the starry sky animation, the customer also received a material costume, which became the basis for the creation of the NFT.
Tokenizing meaningful things is a very personal act, maybe that's why this lot was one of the most popular at auction?
Russian folk costume of Olympia Ivleva
A lot that is unique, thanks to the collaboration of two hundred and fifty-six NFT authors. An incredible scale of work and an even more incredible result.
You can see every piece by every author on the final piece, and thanks to Pure NFT technology, it will be saved forever and will be available to users at all times as long as the blockchain exists.
The first film released on blockchain - and that says it all. But the uniqueness of this lot is also in the fact that it is, again, a huge work done by a lot of authors. Interestingly, all of the proceeds from the sale of the NFT and royalties will be donated to charity.
The buyer will get the opportunity to use the film for any non-commercial purposes. The transfer of rights was made thanks to the technology of the attached contract in the FOIL blockchain, and this is also a unique event, because classical NFTs do not involve any transfer of rights at all.
NFT - The Art off selling art
Could this precedent be a new beginning for the NFT market?
These are not all the lots demonstrated at the event, but the most significant in terms of the development of NFT technology. The ability to transfer rights, attach contracts, store data on a blockchain instead of just a hash and a link...
All of these are sure to have an impact on the development of the industry in the very near future, as demonstrated by the Foil Network.
August - December 2021
A huge number of events in which the Foil Network team was involved marked this time.
The first was the Benzinga Crypto Festival, where Foil Network founder Evgeniy Kuzin was a speaker. Almost immediately afterwards, Foil Network participated in the Doge Million Disco event, presenting their own collection of NFTs exhibited in the 3D gallery.
A short break followed, during which the mobile wallet was updated and new web and desktop app features were finalized. And on October 20, the Foil Network is holding a quiz with a prize pool of 4,000 FOIL as part of Synopsis Events. And already on October 27 the Blockchain Life forum opened its doors. Including for the Foil team. A separate booth was set up and as a side event; the CEO of Foil Network participated in the Startup Pitch!
Just two weeks later, in Barcelona, the Democracy4all conference welcomed Foil Network to its Startup Pitch. The entire time these events lasted, not for a minute did the work on the ecosystem stop. The NFT games Dogeplanets and Meme The Gathering took shape and got their own faces, the NFT Gallery was designed... Read about all the Foil ecosystem projects in the corresponding article.
The scale is impressive.
With all that said, the company has clearly demonstrated its style of behavior in the blockchain project market: first to provide the finished product, provide it with broad media coverage, and only then conduct sales. The absence of Foil Network on the major exchanges and the abandonment of a compulsive sales policy attest to this...
Now, the product is ready to be consumed. So what's in store for us in 2022?
January 2022 - February 2022
And the new year brings us a long-awaited, for many, listing on the DEX and CEX trading platforms.
Why now? The answer may be official registration of Foil Network as a company in Estonia, as well as the creation of DAO Foil Foundation. The company is already up and running and ready for serious work as a new blockchain ecosystem player.
Before listing, there will be a third round of private sales, and then, the FOIL token will go free floating on major cryptocurrency exchanges. And judging by the work done, this floating is expected to be calm and confident.