Non-fungible tokens (NFTs) are unique digital assets that are stored on the blockchain. The process of turning a digital file into an NFT is called minting, which can cost upwards of $100 on many NFT marketplaces. This can pose a financial challenge for emerging artists with limited resources. The minting process also requires a significant amount of energy, leaving many to explore alternative systems. In this week’s #WebsiteWednesday, we’ll introduce you to a community-driven NFT platform designed without prohibitive expenses on a system requiring less energy consumption: HicEtNunc.xyz.
HicEtNunc.xyz is a Brazil-based platform for transforming art of various kinds into NFTs and monetizing that work. Creatives can use the platform to mint, swap, sell, or give away NFTs. Collectors can use the platform to discover new NFTs for their collections. HicEtNunc.xyz was coined from the Latin expression “hic et nunc,” which translates to “here and now.” It is home to artwork made by thousands of creatives from across Latin America, Southeast Asia, the United States, and Europe.
Since launching in March 2021, HicEtNunc.xyz has gained a lot of attention from NFT enthusiasts, including those concerned about their carbon footprint. The HicEtNunc.xyz platform is built on the Tezos blockchain, which expends fewer energy resources than other blockchain systems. For example, Bitcoin’s electricity consumption reached an all-time high in June 2021, now believed to be higher than the power consumption of some entire countries. Artist and climate researcher Mike Tyka chose HicEtNunc.xyz to mint and promote his “Portraits of Imaginary People” collection in an effort to support what he sees as “the only practical and ethical future of NFTs.”
HicEtNunc.xyz is also presented as a more economical NFT-marketplace than other platforms. The median sale price of an NFT on HicEtNunc.xyz is only about $16, while NFTs on other platforms can cost over $1,000. The cost of minting artwork on HicEtNunc.xyz is also less prohibitive. It costs about 0.08 Tezos to mint an NFT. As of September 2, 2021 that amounts to approximately 42 cents. Compared to the over $100 cost on other platforms, minting on HicEtNunc.xyz is a highly economical option. HicEtNunc.xyz helps make participation in the NFT space as an emerging artist or a beginning collector easier to consider.
A Twitter search for #hicetnunc2000 (matching their handle @hicetnunc2000) will yield the tweets of many creatives who post links to promote their artwork, such as this one from fellow AI-focused artist Mark Lee, sharing information about a piece he titled “flow state 3.” You’ll also find retweets from enthusiastic supporters of artists they’ve discovered on the HicEtNunc.xyz platform. This retweet from Twitter user and artist @Thisisarobot2, who is based in Amsterdam, promotes Brazilian artist and HicEtNunc.xyz user Marissa Noana. This demonstrates the reach of the HicEtNunc.xyz platform and its ability to attract eager collectors from all over the world.
We are excited to have this innovative, environmentally conscious, and economical global platform making their home among the many forward-thinking projects that make up the .xyz community. You can learn more by following them on Twitter or visiting HicEtNunc.xyz.