ForeverRealm wants to “empower the cultural industry” with its new digital products trading platform. Launched this week, the BSV blockchain-based exchange is offering NFT creation for no charge, 3D viewing of items, curation and 24/7 customer support, and uses the upgraded Badge token protocol.
ForeverRealm comes from China’s Boquan Hash, makers of DotWallet and DotWallet Pro, as well as its “BaaS” (Bitcoin as a Service) platform and DotWallet for developers. Its focus is on high-quality original content and interface design, with content uploads moderated before being approved for the platform.
NFTs built on #BSV blockchain.
Artworks from well-known Chinese artists with a competing price. It is a great moment to collect some nice items for later use. What use it is? Let's keep it for a secret at this moment😉
To learn more: https://t.co/ENWs7zXsmr#nftart #digitalart pic.twitter.com/Pt4DBx7wjN
— ForeverRealm (@forever_realm) January 14, 2022
Testing out the app on Android, we found the UI to be pretty smooth and good-looking, with a more tasteful, borderless “dark mode” default interface. Items can be rotated 360 degrees to view from multiple angles. There are categories for browsing different types of art (it even supports tokenized ownership of physical products) to choose the genre most suitable to your tastes. It also has a recommendations engine based on users’ interests.
An on-screen “certificate” for each item shows all relevant information, including its number in a series or collection, the creator, hash, and trading history to see how much it was last sold for and when.
For creators, ForeverRealm supports multiple formats including visual art and music. Creators must first be verified before being allowed to list items on the exchange, and there is customer support standing by to help people get started.
The interface is available both in English and Chinese. DotWallet users can use their existing login credentials to access the app. To get verified, a function in the settings encourages you to either verify an “achievement” (such as an art-related accreditation from a learning institution) or by uploading some past creative works.
Boquan Hash recently upgraded its Badge protocol for tokenized assets on the BSV blockchain to support the new features. Badge also includes “atomic swap” technology that the company says better protects the rights and interests of both creators and buyers.
Advantages of the BSV blockchain for NFT creations
Bitcoin (BSV) has proved to be the most reliable blockchain for creating, buying and selling NFT creative works. Other blockchains, such as Ethereum, have run into problems with network congestion, excessive transaction fees, and content ownership—items on popular trading markets do not store their token data on-chain, meaning “owners” actually own nothing but a link to a creative work stored elsewhere on the internet. Several disgruntled buyers have found themselves disconnected from expensive purchases after that link was removed or malfunctioned somehow.
The BSV blockchain also allows lightning-fast confirmation times and transaction fees at a fraction of a U.S. cent, all verified by secure proof-of-work technology.
Although the NFT art market on the BSV blockchain is currently small compared to other marketplaces, more are being drawn to BSV by these interface and technical/security advantages. ForeverRealm also offers creators in other countries access to buyers and creators in a different market—China—serving up new opportunities.
Popular markets on all chains have also seen a rush of quickly made and often low-quality creative works, designed more to sell thousands of items quickly than to produce works of high standard. ForeverRealm is taking steps to improve this situation and, if the works available currently on the platform are any indication, it’s made a good start.
Watch: CoinGeek New York panel, The New World of NFTs
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