RMRK, an advanced non-fungible token (NFT) project, has released their Kanaria bird NFT project, ushering in the first wave of next generation NFTs.
“The long anticipated release of Kanaria and trading has been well met by the community and Bruno, with vision beyond his time, has been able to achieve with the RMRK standard on Kusama what many on Ethereum are still trying to accomplish” says Mahalleinir from D1 Ventures, an early backer.
Kanaria, the NFT project by RMRK
In March 2021, RMRK launched a gamified “initial collectible offering” called Kanaria, pioneering an NFT-crowdfunding approach that netted them a total of 6 million USD in limited edition egg-NFT sales. Over 8,500 out of a total of 9999 eggs were claimed by participants.
With an innovative feature of on-chain emotes, owners and observers could drop reactions on these NFTs, influencing the look, feel, functionality, and inventory of birds that would “hatch” from the eggs. Starting with September 2021, the eggs have hatched into advanced NFTs on the Kusama blockchain (Polkadot’s value-bearing canary network).
“RMRK NFTs are natively connected to every chain that connects to the [Kusama] relay chain. They are multi-chain by default.”, says Bruno Škvorc, project founder, in an explainer and announcement thread.
With this release, Kanaria is now a full-fledged NFT ecosystem, complete with a secondary market where items (wearables, backgrounds, etc.) are traded between bird owners. There are plans to release more collections of compatible NFTs far into the future.
NFTs on Polkadot
The RMRK team is looking to build on its success with Kanaria and make the full RMRK 2.0 standards available for adoption across all substrate-based ecosystems and later into EVM chains like Polygon and Moonriver.
With powerful partnerships with some of the biggest parachains and candidates in the Polkadot and Kusama ecosystem already sealed, the RMRK standards for NFTs 2.0 are poised to become the first unofficial shared-runtime environment in the Polkadot ecosystem, allowing for seamless teleportation of non fungible assets to and from any supported chain, natively, and at almost zero cost, while the multi-chain evolvable nature of these NFTs opens new, unprecedented doors:
“[…] imagine […] coming up with a game in the future and simply reusing the NFTs that already exist by adding a new resource to them – giving them eternal liquidity and long lasting forward compatibility without planning in advance […] imagine if you could put a branded hoodie onto a cryptopunk. How much exposure is that?” – says Škvorc.
You can learn more about RMRK at rmrk.app, take Kanaria for a spin at kanaria.rmrk.app, and play around with their official minting and trading UI for 1.0 NFTs called Singular on singular.rmrk.app. You can also watch a live demo of Kanaria’s functionality in this replayable crowdcast.