Slash, a Singaporean Web3 platform, was founded in 2021 with the goal of bridging the gap between Web2 and Web3. It has now developed an NFT platform on which anyone may design and trade NFTs. Slash is democratising the realm of NFTs by breaking down all technological barriers, according to founder Alvin Li.
Users can also mint NFTs on existing NFT marketplaces like OpenSea. Users of these services, however, must have a rudimentary understanding of cryptocurrency wallets and transaction costs. “In this day and age, Web2 users are still the majority, and most do not have their own crypto wallet,” Li explains. “Most people find it difficult to even take the initial step in minting NFTs.”
While Slash encourages users to explore the space on their own, it is also available to assist those who require assistance. “Slash is here to help with anything from crypto wallets to crypto-to-fiat money exchanges to consultation services,” Li explains. After all, a good launch entails more than just technical considerations. There’s a lot to learn about the marketing methods used by Web3 projects, as well as the necessity to defend their own community from scammers, for new users.
Slash is assisting Web2 users with their transition to Web3. Li added that the company believes that every content producer should be credited or rewarded for their efforts. “Slash aspires to provide everyone the opportunity to participate in Web3, even if they know absolutely nothing about it,” Li explains. “If you’re a content creator, NFTs allow you more control over your earnings and content rights. They can also assist you in expanding, engaging, and rewarding your audience.”
Users will be able to employ Slash’s NFT minting and marketing consulting services during the first phase of its development. The minting service will charge a one-time cost of S$999 plus a 5% commission on secondary market sales. By default, NFTs will be issued on the Ethereum blockchain. “Our tech support team will be able to handle users’ unique demands if they wish to mint on another blockchain,” Li explains. Technical difficulties, according to Slash, are one of the main roadblocks to Web3 adoption. It intends to make the place more accessible to everybody through its offerings.
Slash will debut its own NFT collection in the following round of development. This will be done with the help of other content developers. Finally, the platform will issue its own crypto currency and provide more support to producers wishing to monetize their metaverse offerings.
When starting their own collection, designers must select what purpose their NFTs will fulfil. After all, these virtual assets can provide a wide range of benefits. The value of any NFT, according to Li, may be divided into three categories: collection, investment, and membership value. He defines “collection value” as “the depiction of an art item to satisfy one’s vanity.” It’s collecting just for the sake of owning an NFT.
The term “investment value” refers to the practise of purchasing NFTs with the goal of reselling them for a profit. Finally, membership value refers to NFTs that provide access to events hosted in the metaverse or in the actual world. “The NFT space has evolved in this order as well,” Li says. “We’ve noticed a shift from the desire to possess profile image NFTs to the desire to own membership NFTs.”
The novelty of collector’s items has been surpassed by collections that can provide added value. “We recently assisted a fitness company with the introduction of their NFT Pass,” explains Li. “Their NFT holders can participate in a range of brand-sponsored activities.” NFTs, Li argues, can be a perfect bridge between the real world and the metaverse because of their adaptability. “While not everyone will embark on the Web3 adventure right immediately, we believe that as time passes, more individuals will comprehend and participate in Web3.”