Bictory Pulse [May] — Are we there yet?
Are we there yet? Not exactly, but we are moving at lightning network speed towards the vision of making the DeFi and NFT space a whole lot safer. We did assure you back in our January episode of Bictory Pulse that if you stick with us long enough, you’d watch it all unfold. True to our words, the unfolding of Bictory’s multi-chain safe ecosystem has begun from the launch of Terrestria NFT collection to its curated NFT marketplace with talented artists across continents.
Outlined below are the events of the month of May unfolding for each product in Bictory’s ecosystem, before and behind the scenes.
On the 28th of April, the mint event of our 9,999 NFT collection named Terrestria went live. This exhibited on another level the usability of the Concordium blockchain, proved some intricate smart contract functionalities on this new chain, as well as fostered adoption. It was well welcomed by the burgeoning blockchain community as it is the most anticipated utility-backed NFT collection yet on the chain. A number of minters went on their socials to either flaunt their BICmal NFT in a post or as a PFP. This was truly humbling for the team as well as motivating to deliver on subsequent milestones to demonstrate all of the utilities of our genesis and one-off NFT collection.
Over 10% of the 6,500 NFTs made available for sale has already been minted and we consider this a major milestone, as it is our first revenue-generating product and the validation of our value propositions. Our community earned an even greater passion from the team as they exercised good patience in learning the flow of the process, which we can beat our chest and say it was quite seamless.
It does feel good, and now we are gearing up to scale things up armed with community feedback and behaviour, right after we bring to an end this first tranche of NFT mint this weekend, Friday, 3rd June by 8pm UTC.
Shortly after taking our NFT collection mint live, about a week after, our compliant, curated and creator-centric marketplace went live too in beta version, with some handpicked creators from our community across the globe. A number of creators have applied to mint art collections and sell them on the marketplace too. This is currently under review with some already hinted at as upcoming collections in the marketplace. The marketplace is also aimed at collector convenience and so we’ve made the UX as simple and seamless as possible in addition to creating onboarding materials to make the process of collecting NFTs on the marketplace even easier. If you’re still struggling with any of aspect of the onboarding process, see our videos about; how to setup a CryptoX wallet and how to buy an NFT.
Currently, the marketplace only support NFTs on the Concordium blockchain, not for long. The community and our creator partners have spoken and we have listened — Solana is coming to the BictoryNFT marketplace and we are already lining up a list of partner collections on Solana. We should stop here so we don’t spoil the surprises, right? Besides this integration, we have a number of features and updates in progress for the BictoryNFT marketplace including minting videos and GIFs, improved smart contracts to lower the energy limits hence market fees.
Our brave engineers are already experimenting with the Concordium Protocol Version 4 on testnet, Sirius, which further cuts down the fees charged in our marketplace. We’ll have no rest until we make NFT transactions almost free on all of the chains we integrate into the marketplace 😀. Some other upgrades in the pipeline includes Launchpad program for Creators, FIAT payment methods, NFT Marketplace rewards system, etcetera.
Without mincing words, big things are coming.
We’ve made incredible progress with our centralized exchange. Yes, we didn’t let the launch and management of other products affect the product development progress. We’ve advanced from internal testing of the exchange to the closed alpha testing stage with some selected community participants. Some of the statistics from the test are as follows;
- We have gone from 0 to about $100k in trade volumes, with more than 56 deposits and withdrawals and 723 trade orders across 30 users.
- We are currently expanding our asset offers by listing more assets and trade pairs to the exchange.
- Implementing a new referral feature that will go live with the beta launch. Announcement coming soon.
- Setting up support system to help with sneaky bugs that escape this round of intensive testing.
- With the help of the community testers, we have identified bugs and edge cases within the app and have resolved a number of them.
So with all of this what have we gotten with the technical side of the product development?
We have achieved a cleaner, easier UI flows within the app, upgraded our app skeleton to handle large number of updates per second as required by the app for a smooth experience, we’ve also updated the app to a system of micro-controlled set of component to maximize the performance. For mobile devices, we optimized the app for low memory consumption, we don’t want you deleting all of your other apps just to install and use ours. Finally, we updated the app architecture to be more scalable, bug proof and easier to find the source of any subsequent bug and fixed all early issues with downtime/speed.
If your brain hurts from all of the big words already we sympathize with you, we just wanted to make up for the long period we’ve left you out of the building party. Now you know what’s happening behind the curtains, doesn’t it just feel great?
And we have a date for launch, another surprise yea? It’s set for 15th of June!🎉
We are pretty sure this took you by surprise as it was mentioned in most of our documentations. Well, what can we say, we live to excite our community. Still on the quest to raise the usability of our sandbox chain, we spotted the necessity of this service and swung into action to deliver it. The Concordium Name Service as you may have guessed or learnt about through our articles or posts gives machine-level wallet addresses a human-readable face. Lengthy alphanumeric strings of characters are translated to domain names of the format, “yourname.ccd”.
These blockchain domain names are multi-functional, they can serve as a domain name, a payment address and even as dapp logins. To learn more about this service, visit the coming soon page or read our article that explains generally the blockchain name service and how it benefits NFTs. More announcements on this coming soon!
A number of strategies being mapped out, products under development, and announcements underway, we’re sure this gives you a glimpse of why we are always excited for the future. Our commitment to building a safe ecosystem for DeFi and NFT investors remains unwaivered. If anything has changed, with all of the exploitations incessantly happening in the industry lately, our commitment has waxed stronger and with you we will be bictorious.
Team Bictory Finance.