Scarcity, Ownership and Interoperability

Why use blockchain?

The token itself is incredibly powerful and we want to explore what we can do without needing to jump into the very immature space of distributed storage. The ERC-721 standard gives us three aspects that the traditional internet does not really provide: Scarcity, interoperability, and ownership.

Scarcity

Scarcity is the mother of all innovations. If there was too much of everything, there would be no value to anything. We understand this in the precious metals arena as gold is a scarce resources, but only until blockchain have we begun to toy with digital scarcity (the reason why Bitcoin is worth so much today). Mintbase does not right now have a scarcity limit (we will soon), but the number of items available can be verified on an open ledger or by any company like OpenSea without needing to trust the minter (artist) or us (Mintbase).

Interoperability

We are just scratching the surface of interoperability with our cryptovoxels advent calendar where each of the 24 days of December, companies give away a special NFT a day. We love the idea that companies can come together, create and sell items, and redeem on another exchanges which they might use as an in-game asset. The creativity is endless and up to the creators.

Ownership

Logging into a website is not ownership. For example if I “owned” a Netflix subscription and I don't want it anymore, I would have to deal with them directly. True ownership would allow us to sell it on an exchange market like OpenSea. This would allow me to also pass on my membership for an amount of time if I wanted to lend it to a friend.