The Baking Sheet - Issue #32

January 22, 2021

EDO, NFTs, and DAOS. All good things come in three characters this week for Tezos.

Welcome to this week’s issue of the baking sheet!

As mentioned in our previous issue, the Baking Sheet is now a weekly newsletter focused on covering all the latest news and insights across the Tezos ecosystem. In this week’s issue, we will take a closer look at NFT’s (Non-Fungible Tokens) and how EDO will begin to accelerate further development of NFT’s on Tezos. Also don't forget--EDO is in the last phase in the governance mechanism for Tezos, get your baker to vote!

NFTs are coming

Before we dive into some of the recent developments around NFT’s, I think it’s important to understand just what exactly an NFT is. With that said, by nature an NFT is not divisible. You can think of things such as fine art, or Yu-Gi-Oh and Pokemon cards as examples.

These examples represent something that cannot be directly replaced or be able to be swapped for like items, as none are alike. One can think of it like sending half of a Yu-Gi-Oh card - that would not generally be accepted by someone as not only would it not be redeemable, it would be rendered worthless.

Cryptocurrencies such as Bitcoin, Ethereum, Tezos and others are divisible on the other hand. One could send another party 0.5 tez and that could be sent back and so forth. The time in which the exchange occurred could alter the value but it remains alike.

That said, NFT’s have been gaining popularity around the way in which they represent unique digital assets.

NFTs on Tezos

A little over a week ago, we witnessed the introduction of an exciting NFT proposal called CricTez. In case you’re unfamiliar with Cricket as many of us in the western world might be, it’s actually the second most popular sport in the world with over 2.5 billion fans worldwide.

Cricket is a bat and ball game that involves two teams with eleven players on each side with the goal of scoring more runs than the opposition. With the CricTez proposal, they are wishing to turn players into cards for usage in a fantasy sports DApp. These players cards will be realistically assessed through the usage of metadata containing key attributes unique to each player to calculate that cards score.

Oracles will also provide a means to bring information off-chain about the players such as real-time statistics to contribute to each players unique card.

To learn more about CricTez, be sure to check out the proposal on Tezos Agora.

Of equal interest however, native to the current proposed protocol upgrade is a feature known as ‘Tickets’. This feature, which Eli Guenzburger did a deep dive into - will make not only creating NFT’s on Tezos easier but also allow for auctioning them off under a single NFT auction contract through the usage of tickets.

As we begin to see more development around NFT infrastructure within Tezos and more exciting projects like CricTez and Emergents come along, it remains worth watching what future NFT’s will be built on Tezos.

Cryptokitties, arguably the most popular crypto NFT that was born during 2017 caused severe network congestion on the Ethereum network. As Tezos has continued to grow and evolve, so has the environment for a robust platform to create NFT’s and auction them off on.

Tezos Community Rewards Program

There is only one week to get your nominations in for the the Tezos Community Rewards Program. There will be up 5000 tez distributed monthly for community members, nominate yourself or someone you think that deserves tez for their contributions in January!

Trending Tezos Agora Posts

This proposal describes a simplified, version of Checker in the special case of tez collateralized by tez.

Concurrency Introduction Concurrency is a notoriously hard problem in Computer Science.

Foreword There’s no official Tezos Academy body that can set prescriptive rules for how words are to be used.

This Week in Tezos Ecosystem News

As the number of decentralized applications and community initiatives in the Tezos ecosystem grows, so does the need for community governance and, of course, decentralized autonomous organization.

The partnership aims to continue promoting travel and cryptocurrency adoption with over 3 million travel products now available to book with Tezos (XTZ) through Travala.com.

imToken integrates Tezos and offering Baking for its 11 million users across 200 countries around the Globe. imToken is the largest Ethereum wallet in the world, accounting for ~10% of all Ethereum transactions, Tezos is only the 12th digital asset added to its wallet.

Just over a two weeks ago we announced Kolibri, a new algorithmic stable coin for Tezos. Since our testnet launch, we’ve seen over 140 ovens created and over 700,000 (testnet) XTZ locked in them.

Welcome to Tezos Spotlight! Each week, we’ll highlight a team or project in the Tezos ecosystem. To kick off Tezos Spotlight, we decided to talk to two of our own team members, TQ Tezos President and…

Tezos Development Updates

Everstake is here to share some news on our plans and contributions to the Tezos ecosystem — the ecosystem we strongly believe in as one of the industry leaders.

The first video lesson in the free online course Smart Contract Development on the Tezos Blockchain Platform: programming language Michelson and smart contracts on the Tezos blockchain.

Tezex Bridge is looking for participants to get on a call with us to talk about their experiences using its inter-chain swap protocol

Tezos Explainer this Week

Upcoming Tezos Events

TQuorum: Digital Series is back!