- November 14, 2021
- Posted by: CryptoMode Staff
- Category: NFT, NuGenesis
NuGenesis has 4 patents pending for its gasless NFT multi-cross chain system. It sees NFTs as a seismic shift in the crypto universe. In this new dimension, Ethereum and its NFT marketplaces, risk obsolescence. NuGenesis “interactive NFTs” will not only attract newbies to the cryptoverse, by-passing the traditional rites of entry, such as the ordeal of metamask and other such like, but focus the world on the best tech.
“imagine all the people, using the best tech – untainted by the million in marketing dollars of the over-hyped projects”, says NuGenesis CEO Hussein Faraj.
Checky, but he may be right. To a crypto-newb, Ethereum means little, and Cardano, even less. NuGenesis NFT creation is quick, easy, and free. Payment, if you want to add features and set up your own marketplace, is paid through Paypal with local fiat. It is the only project that PayPal has supported. The NuGenesis NFT platform could well be the greatest gateway on-ramp for the mainstream adoption of the crypto world we have ever seen.
Your own sovereign blockchain
Artists – from the traditional to the virtual interactive – completely unfamiliar with crypto can simply create their NFT, and create their own marketplace for their art series without needing to know anything about crypto. As their gallery collection grows, they can ultimately have their parallel processing blockchain, totally sovereign and never needing to drain resources or have its resources drained, by demands on the system.
The NuGenesis NFT platform is designed to perfectly adapt for wholesale use by artists collectives, agencies, and galleries who represent them. Talent agencies, influencer marketing agencies, Esports and Gaming representative agencies, and sports leagues in their entirety are perfectly suited to be set up with their NuGenesis parallel processing multichain.
With multisig treasury wallets, corporates and institutions can operate with security. NFTs can create multiple layers of royalty rights back to the original institution. They can be designed to incentivise loyalty to and retention of that institution. Great news for the Sports Club or Talent Agent. For the talent, fragmentation is possible to maximise its commercial exploitation. Conditions can be imposed in the NFT structure for its future vesting in cases of wills, trusts, and other estates. The NFT can become an interactive smart contract that is its self-function perpetual entity; paying the beneficiaries through the governance created within the NFT.
The Ethereum Divorce
Interactive NFTs are claimed to be the point of ultimate bifurcation with Ethereum. The “Ethereum divorce” as it has been coined. Gas fees limit what NFTs can be. Currently, NFTs are a relatively static expression. But they will not be. NuGenesis has designed its platform for interactive NFTs. An NFT character can be ‘leveled up’ with accessories and be part of a collection where each NFT adds to the others. An NFT may for example compete with another NFT and this ‘gamification’ will change the metadata between them. NuGenesis CTO, Luay Monshen says:
“the boundaries between what is an NFT and what is game will blur and disappear as NFTs become instruments of multiple uses, including serious commercial uses”
These layers of gamification are prohibitively expensive on Ethereum because they involve huge transactional and extrinsic traffic all demanding gas fees. Neither are they scalable on current blockchains, says Mr. Monshen.
By contrast, the NuGenesis system improves with more traffic. Their patent pending blockchain load balancers work with the ‘consensus before packing’ validation protocol to maximise the 5G block size with instant finality. The more complex the NFT, the more extrinsic, and the more users the system has, the faster the transactional speed.
The great Ethereum migration
We have already started to see “the great Eth migration”. NuGenesis uses an interoperable cross-chain multi-blockchain system, one of which is a dedicated Ethereum Chain. That is, Ethereum crypto assets, such as the NFT’s built upon them, and smart contracts that incorporate them, are directly and seamlessly communicable with NuGenesis. Any of the over 3,000 dApps built on Ethereum can work on NuGenesis and settle on its Ledger X, decentralised fiat-crypto-fiat exchange.
NFTs in token less virtual reality worlds
NuGenesis is the next evolution. The platform is geared towards token less exchange in virtual reality. According to NuGenesis CEO Hussein Faraj:
“we don’t see people sitting at keyboards or using attachments in the near future. NuGenesis is introducing the virtual reality/augmented reality evolution called “parallel worlds”. In VR, you will be interacting live, socialising and doing business without needing tokens. Your interactive NFT’s will your games, they will be your drivers’ licence, medical records where you cross between the virtual and real worlds”
NuGenesis is predicting the ‘leapfrog effect’ as crypto newbs herald mainstream adoption. There are countless innovations in the NuGenesis system designed to remove the resistance points for adoption. Losing your mnemonic phrase, or even being hacked, aren’t concerns on the NuGenesis system. Crypto assets are serialised and your Coins, interactive smart contract DNC, and NFTs can be restored. A hack will yield nothing: as the fruits of the hack will be burned and simply restored to the rightful owner.
The great Tech leapfrog
NuGenesis position themselves as the new technology (Technology 2) in the following diagram, that will quickly outstrip the inflexibility and unsalability of Ethereum.
Yet for reasons that no one in the space can understand, NuGenesis refuses to sell “NuCoin”, its native currency in the NuGenesis ecosystem. It has become a “thing” of cartoon comedic reference.
NuGenesis is welcoming miners with a range of business packages and indeed even financing the appropriate candidates. It is even welcoming what it calls “Adoption Facilitators”, with the titles of “Senator”, “Ambassador”, “Diplomat”, “Envoy” who are expected to take active roles shaping the ecosystem. But NuGenesis does not want the public buying NuCoin as an investment. The issue is a legal one.
“very shortly, the miners will be releasing coins for the ecosystem to flourish on our own Exchange, Ledger X and all major exchanges”
says Mr Faraj, NuGenesis CEO”
“but we do not believe in people investing in promises. We have self-funded a fully operational blockchain network system so that when people buy NuCoin in the next month or so.
If people want to pre-register and be white listed for priority release, that is acceptable. Our focus now is those who want to make a career, a profession and a business in the New crypto economy so we want miners and those who can grow the ecosystem with their efforts”
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