KodaDot - An overview of Dotsama's Carbonless NFT Marketplace

Primer: The first public good of the Dotsama (Kusama/Polkadot) ecosystem, Kodadot is a Kusama native carbon-neutral NFT platform that enables users to mint, transfer, and burn NFTs.

The surge in popularity of Non-fungible tokens (NFTs) can be ascertained from a market evaluation of $15 billion in 2021 with nearly 2 million active wallets. However, while NFTs have gained traction and revenue, their definition is still unclear to many.

NFTs stand for Non-Fungible Tokens.

But what are fungible and non-fungible items?

Let's understand the same with the help of examples.

Fungible items are eligible for replacement/substitution (e.g., dollar bills, bitcoin), whereas non-fungible items (e.g., airline tickets, trading cards, and real estate) are unique and not interchangeable. In short, a non-fungible item cannot be exactly equal to another item.

Now that we understand the term non-fungible let's get back to NFTs.
NFTs are unique digital assets representing ownership of real-world items like art, video clips, music, collectibles, in-game items, etc. The ownership is built-in as a certificate of authenticity. NFTs are powered by blockchain technology, similar to cryptocurrencies. However, unlike cryptocurrency, NFTs are unique cryptographic tokens that cannot be replicated (non-fungible). Think of it as the digital equivalent of the physical evaluation of authenticity. Blockchain technology enables anyone to issue a certificate of authenticity for their original work.

Kodadot

Kodadot is one of many marketplaces where users can display, trade, and even create and store NFTs. An NFT marketplace denotes a digital asset platform that serves as an ideal vehicle for the purchase and sale of NFTs.

Some marketplaces offer specialized services such as creating and storing NFTs. However, NFT trades through marketplaces are often associated with high fees. In addition, some platforms tend to limit artists' creativity, and navigating on them isn't as simple and high-quality as it should be.

While NFTs give artists immense control over their work and the ability to go mainstream sans intermediaries, the minting of NFTs has a significant downside in the form of massive carbon emissions. Most of the art in crypto runs on the Ethereum blockchain that utilizes the PoW consensus model. While the shift to PoS is around the corner, one can't negate the damage that is already done.

What makes Kodadot different is what we shall discuss in the following section of the article.

Kodadot is a universal NFT explorer and marketplace built on top of Kusama that uses the RMRK protocol to manage and create NFTs.

We are trying to set a movement where artists can offset their mints.

Kodadot is designed for creators and collectors who want to experiment with blockchain and NFTs while maintaining carbon neutrality. More importantly, Kodadot has a responsive web-based NFT explorer that provides an intuitive user interface.

A glance into the KodaDot Platform

Intuitive User Interface (UI)

The UI is simple yet intuitive, easy to use, features a dark theme, and compliments the content. The search option at the top lets you search for NFTs based on artwork, collection, and listing assuring hassle-free trading of NFTs. It is a robust feature that ensures users can search from available NFTs per their preferences.

On Kodadot, the New Listings and Popular Collections auto-populate in the search bar. This is especially useful for noobies who don’t know their way around but are interested in exploring the NFT space, as it enables them to view the hottest NFTs on the Kusama network.

Moreover, hovering over a collection piece showcases all critical information in the most optimized manner, including the name of the NFT, price, number of items, floor price, and more. For detailed information, you can view the collection’s single page.

Advanced Search

Here is a sneak peek into Kodadot’s advanced search feature that is expected to roll out soon. Kodadot is using Subsquid to supercharge search on their natively multi-chain NFT platform.

Supports Multiple Languages

KodaDot supports multiple languages in its endeavor to become multilingual and native-first. It recognizes language as a barrier to accessing Web3 tools and thus offers said support.

Create NFTs

KodaDot offers three options - Classic, Simple & Creative to create NFTs. Classic allows creating a collection and adding NFTs to it. Users can create NFTs in a single step through the Simple option, while Creative uses an AI-powered process to create NFTs.

Filters

Filters not only make the search convenient but also enhance user experience. All available filters, such as categories, availability, listing date, and collections, provide easy and flexible navigation through the listed NFTs, ensuring a smooth experience. Users can filter out the NFTs based on the chain they’re built on (RMRK, Statemine, Basilisk, and Moonsama).

Stats

The statistics or Stats page for Kodadot provides users with added functionalities to ensure a seamless trade. Stats has four sections (for RMRK). The first one is Spotlight. Users can opt for Spotlight to view the top collectors and artists on RMRK. The display comprises the most popular NFTs on the Kodadot platform, hence the term spotlight. The second section, Series, displays the top NFT collections on RMRK, ranked by overall volume, floor price, and other statistics. Next is the Sales section that shows the most recent NFT sold on RMRK, along with additional information, such as the price at which it was sold, buyer, date, etc. Finally, the last section is titled Hot and displays the sales conducted in the week prior. It includes items like the last sale, time since the last sale, etc.

Kodadot collection features

When collectors view the collection's page, they're presented with several features to ensure a seamless experience.

Items - enable navigation based on a range of factors highlighted below (insert pic).

Charts - provide a visual representation of the NFT price evolution and a chance to analyze it by tracking the collection's floor price, sale price, and trailing average.

History - lets users view the NFT history based on the listing, mint, buy, burn and gift. It includes the date of the

Holders - lists users who bought the NFTs, including their name, the amount purchased, the price at which it was bought/sold, and the date of the activity.

Flippers - display the list of all former holders who bought and sold NFTs in the collection. It includes the name, the price at which the NFT was bought/sold, the date, etc.

Closing thoughts

Addressing the climate controversy swirling over NFTs, Kodatdot is DotSama's first carbon-neutral, accessible and user-friendly NFT creation and trading platform.

With a commitment to sustainability, Kodadot redefines how creators and collectors interact with NFTs and blockchains providing an entry point for those who have refrained from entering the space owing to the profound physical impact of NFTs on the environment.

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.