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NFT applications on the NEAR blockchain 

NEAR is a proof-of-stake blockchain with high scalability and low development cost. It uses its own scalability solution, known as Nightshade, which is a unique form of sharding that splits the transaction load into four shards, thereby increasing the network throughput significantly. The sharding works with another technology peculiar to NEAR, Doomslug, a block generation scheme that helps recover the network from unreliable validators. 

NEAR is built on a carbon-neutral protocol. It’s certified with a Climate Neutral Product Label from the South Pole, a carbon offset solution initiative

Deploying DApps and protocols on the NEAR blockchain can be easier for many developers than other alternatives. For instance, they can write secure smart contracts using the Rust programming language. 

The onboarding feature, known as Near Drops, allows the creation of human-readable names, and users can send NEAR to their friends, even if they don’t have a NEAR account. 

Building on this user-friendly, robust, scalable, and energy-efficient blockchain has many advantages for NFT applications. As a result, we witness various NEAR-powered NFT projects. 

Splitting royalties

An important topic for artists and musicians is how they earn royalties from their work. Different contexts may call for embedding customized solutions into the NFTs. NEAR allows total royalties to be split between multiple contributors, which helps automate the payout process. 

DAORecords, a record label company built on NEAR, improve the distributions of music sales by reimagining the artist royalties thanks to royalty splitting. Deploying this feature, up to 40 different wallets can be set at different earnings percentages. There are also benefits gained via NEAR’s Legal Guild; when complex smart contract-related issues arise, DAORecords can consult the lawyers. 

Rewarding NFT fans and creators simultaneously. 

Continuing from the advantages powerful blockchain ecosystems like NEAR can provide to artists and musicians, we can also mention Paras. It’s a curated NFT marketplace that…

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