š° $8 is once again being turned into something new by Jack Butcher.
On September 21, he launched an on-chain experiment on X: users send $8 via X Money, leave their own ETH address in the memo, and the transaction ID becomes a random seed for generating the artwork. Thereās no Mint pageāno need to connect a wallet or prepare ETH in advance.
š„ The most interesting part this time is that eligibility happens at the fiat payment layer, while the NFT is delivered on-chain only afterward. For everyday users, the process shifts from ālearn to use MetaMask, pay Gasā to ātransfer a payment inside the X app.ā
Honestly, this also sidesteps the witch problem that NFT projects have always found hard to deal with. X Money currently requires U.S. Premium and Premium+ users to link a bank account, provide an SSN, and complete phone verificationācorresponding to a verified account. Compared with mass wallet creation, the cost of repeated registrations is indeed much higher.
š” This route can be summarized as: discover it on X, use X Money to pay and verify, and finally deliver the assets to an Ethereum address. In 2023, Butcher used $8 for Checks Editions; 16,031 people participated, and related secondary-market trading volume totaled more than $250 million. This time, heās more like testing a new issuance method.
However, X Money is currently only available to certain users in the U.S., and payment data and identity information are also held within Xās centralized systems. The scope of participation, the final minting quantity, and the specific delivery detailsāas of 8:00 p.m. on September 22āare still ongoing. Do you think this approach of ācomplete payment on a social platform first, then deliver on-chainā will become a new entry point for NFTs and on-chain projects?
#NFT #XMoney #仄å¤Ŗå #on-chain experiment
On September 21, he launched an on-chain experiment on X: users send $8 via X Money, leave their own ETH address in the memo, and the transaction ID becomes a random seed for generating the artwork. Thereās no Mint pageāno need to connect a wallet or prepare ETH in advance.
š„ The most interesting part this time is that eligibility happens at the fiat payment layer, while the NFT is delivered on-chain only afterward. For everyday users, the process shifts from ālearn to use MetaMask, pay Gasā to ātransfer a payment inside the X app.ā
Honestly, this also sidesteps the witch problem that NFT projects have always found hard to deal with. X Money currently requires U.S. Premium and Premium+ users to link a bank account, provide an SSN, and complete phone verificationācorresponding to a verified account. Compared with mass wallet creation, the cost of repeated registrations is indeed much higher.
š” This route can be summarized as: discover it on X, use X Money to pay and verify, and finally deliver the assets to an Ethereum address. In 2023, Butcher used $8 for Checks Editions; 16,031 people participated, and related secondary-market trading volume totaled more than $250 million. This time, heās more like testing a new issuance method.
However, X Money is currently only available to certain users in the U.S., and payment data and identity information are also held within Xās centralized systems. The scope of participation, the final minting quantity, and the specific delivery detailsāas of 8:00 p.m. on September 22āare still ongoing. Do you think this approach of ācomplete payment on a social platform first, then deliver on-chainā will become a new entry point for NFTs and on-chain projects?
#NFT #XMoney #仄å¤Ŗå #on-chain experiment
