The Internet Computer Protocol from the Dfinity Foundation is releasing 10,000 Free NFTs in its Debut Drop. Eligible users can claim their free token on Wednesday, 8 pm UTC.
The launch of the Internet Computer Protocol is promising because it directly addresses the gaps of existing major players. It plans to take on cloud infrastructure giants like Amazon Web Services and Microsoft Azure. Moreover, it will directly compete with Ethereum, Polkadot and Binance Smart Chain.
The Internet Computer serves content from canisters, so the gas model is predictable. Since cycles have a fixed cost (unlike Eth), cost & revenue will always be predictable for developers. So no matter what the price of the ICP token, the operational cost will always be consistent. This is the unique feature of their technology. Moreover, developers can define a custom standard for their NFT Series.
As of press time, ICP Tokens are changing hands for $66.94.
Now let’s talk about the NFT Series launching on the protocol.
ICPunk NFT Collection: First NFTs on the Internet Computer
The NFT Collection was conceptualized by brothers Przemek and Tomasz Chojecki, alongside Adam Stępnik. According to the trio, they were inspired to create the avatars following acronym comparisons to the 1990s hip-hop duo Insane Clown Posse and OG Collectible CryptoPunks.
There are 10,000 randomly generated unique collectible clowns with proof of ownership stored on the Internet Computer. However, following a series of exclusive early releases, only 3,000 punks will be available to claim according to reports, one per user, at the time of release.
The ICPunk project has witnessed increased page visits with analytical data reporting over 89,000 users and visitors to the website since it went live. So it will really test and demonstrate the capacity of the Internet Computer Protocol.
Tomasz is confident that ICP can rise to the occasion. He said, “We have been following Dfinity’s work since 2017. We believe the Internet Computer is the best solution for NFTs. One of the benefits of the Internet Computer is that all information is stored on-chain. There is no need to use IPFS or dedicated web servers to host images. It’s truly a decentralized NFT solution.”
More about the Technology of ICP
The Internet Computer was developed to create a decentralized platform analogous to the classic Internet. Moreover, it is based on a protocol whose source code is now public. Among others, ICP masters the programming language Rust or DFINITY’s own programming language Motoko.
Dfinity’s “canisters” used in the ICP can contain all kinds of software or code. These can include websites, decentralized applications, security systems, or entire enterprise software. The size does not matter because the system provides a corresponding number of canisters depending on the size. In a way, canisters can be understood as a kind of operating system. An operating system can create, process, and output data but also communicate with devices.
You can check out the use case and tech specs of this new technology on Dfinity’s official website.
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