MURALL NFT
MURALL is an ERC-721 token which users get after contributing to the MurAll canvas. Minting the NFT is the way users can "lock in" their drawing to be forever on the blockchain.
Scarcity
Minting their artwork with MurAll gives users a piece of MurAll that they own, which they can hold onto or trade, and given the finite nature of the PAINT token, there will only be a finite amount of NFTs produced by MurAll, making them scarce and collectable.
Difference with other NFTs
Due to the technical and monetary limitations of the blockchain network, it is not possible to store large amounts of data on the blockchain. This means that most NFTs today use IPFS to store the media file and only the reference to the IPFS url is stored on the blockchain. This can cause problems when that uploaded file goes missing.
However, since the image data in MURALL is actually on-chain, it means that those images exist as long as the blockchain exists.
Even if the MurAll website is taken down, those images can always be regenerated.
Users are also able to track their contribution to the canvas (i.e. the transactions on the blockchain) to see their part in history in the life of the canvas. Given the finite life of the canvas, they have an incentive to draw on it so as to be included in its life. Also, the NFTs of the project will give MurAll something that can continue to live well past the life of the MurAll canvas.
Addresses
MURALL is deployed on both Ethereum and Polygon
- Ethereum mainnet contract address: 0x5bb3d01f32687f92f8636799687e55cba0627704
- Polygon mainnet contract address: 0xffbce889d62f6c73f005b836255ad69b0a01b222