Potluck Labs

Potluck Labs is an incubator that provides support and technical expertise to budding NFT projects and artists on the Fantom blockchain. They build projects in a way that is better for everyone in the NFT space: artists, collectors and marketplaces. They help new NFT projects overcome the strenuous issues of setting up minting systems and creating an active community, thus making it easier for new projects to quickly establish themselves.

Difficulties of creating NFTs:

The usage of NFTs is still a novel idea, and the industry itself is highly evolving, depending on the demands of the market and the rising popularity of NFTs. We often see drastic shifts in the valuations of cryptocurrencies, which are essentially the primary form of transactions on blockchain platforms. These shifts affect the NFT markets too. While more extensive adoption of cryptocurrencies would eventually result in a more stable valuation, NFTs are rapidly rising as one of the most prominent applications of blockchain technology. Therefore, now is the perfect time for budding NFT projects to grow and gain a wider following.

Many innovative NFT projects fail due to a lack of a viable business model or proper marketing and growth strategies. Projects need to set themselves apart from the crowd and present the unique aspects that persuade people. A strong community following is necessary because NFTs gain great popularity due to high secondary sales, that is, sales made by the people who minted the NFTs first. Therefore, many projects also organise community activities and giveaways.
The complex technical aspects of minting NFTs make it a daunting proposition for new artists who wish to utilise NFTs to sell their artwork. There are various minting platforms and marketplaces available and several different blockchains, each with advantages and disadvantages. Ethereum is among the most popular but has recently faced problems with high transactions costs and slow processing speeds. Some projects also choose to design and use their own minter. This complexity increased the difficulty of setting up a new NFT project.

What is Potluck Labs?

Potluck Labs is an NFT incubator. They aim to help set up NFT projects and grow them, primarily on the Fantom Opera blockchain. They are a division of Potluck Protocol, a very successful NFT project on the Fantom blockchain. Potluck Labs has collaborated with various NFT projects, like Potluck Pigs, Psychedelic Revolution and Creatures of the Cave, and helped these projects grow. You can check out their site here.

Why Fantom?

There are a few reasons why Fantom blockchain is so popular. Fantom is a new and highly scalable blockchain platform. Unlike older blockchains like Ethereum, Fantom is designed to be a high-performance platform for complex dApps, which often slow down on first-generation platforms.

Fantom uses a high-speed consensus mechanism, known as Lachesis, to tackle the problem of low speeds on blockchain networks. Therefore, Fantom is very beneficial, especially for setting up a new NFT project.

Potluck Labs projects:

1. Potluck Pigs: A collection of 1080 NFT artworks, on the Fantom network.

1. Creatures of the Cave: 6000 dangerous serums, each costing 20 FTM.

1. Engraved Spirits: 550 meticulously detailed artworks based on concepts of spirituality

The Team:

Potluck Labs is a division of Potluck Protocol, a project that provides gamification services designed for DeFi(Decentralised Finance) applications, specifically ones that are operating on the Fantom blockchain. Besides running Potluck Labs and the projects that form a part of its expanding environment, Tinfoil Realist and True Voodoo, the duo behind the Potluck Protocol, also run a YouTube channel, which you can check out here. Here, they regularly give out news and updates about the latest in the NFT space, including new and emerging projects, and potential investment opportunities.

Contact:

Check the Official Potluck Labs Medium page, where they talk about the various NFT projects they’ve partnered with, and also helpful articles on building successful NFT projects, especially for budding new artists. They also give out updates on the Twitter page, and the official Potluck Labs Discord server.



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