Fantom Chief: “Don’t be distracted by NFTs”
Fantom outlines its plans for the nearest future, thinking beyond “distractions” like defi, nfts, gamefi, and exchanges
Despite the crypto market’s volatility, many companies are looking ahead.
Among them is Fantom, which describes itself as a fast, high-throughput open-source smart contract platform for digital assets and apps.
In a Medium post, Director at Fantom Foundation Andre Cronje emphasized that the last few years were volatile. Yet, he has an optimistic mindset since “bull markets are when we are rewarded for the work we put in during the bear market. Those that hunker down, keep building, keep growing, keep improving – they are the ones that reap the rewards of the bull.”
Giving further comments, he said that Fantom was born in a bear market, and the company is suited for this environment and is planning to improve tooling, integration, ease of use, developer UX, etc.
“We should not get distracted by the new narratives; defi / nft / gamefi / exchanges / etc,” Cronje said. “Our overarching objective over the next 12 months will be toward creating an environment for dapp developers to build out sustainable businesses, while differentiating ourselves from other layer 1 solutions.”
He added that the company is planning to work on gas monetization, gas subsidies, account abstraction, economic abstraction for gas fees, new Middleware (Fantom Virtual Machine, new storage mechanism), performance engineering, documentation, and training.
Explaining the gas monetization concept, Cronje says that it allows for revenue share for dapps based on gas used similarly to YouTube with twitch creator revenue allowing for long-term sustainable income for strong dapp teams.
Launched in 2018, Fantom (FTM) is a cryptocurrency that has a current supply of 3,175,000,000 with 2,767,661,433.537101 in circulation. It is trading at $0.2015 press-time.
Previously, Gagarin News reported about an easy way that the hackers use to steal NFTs like magic.
