Solana launches NFT Showdown contest for NFT artists

In an effort to ‘raise the quality’ of new NFT-projects, the Solana Foundation инициировал конкурс for aspiring digital artists.

As part of NFT Showdown, entrants must submit their business ideas and work for non-fungible token collections that create “real utility” for the fashion, entertainment and gaming industries.

“NFT Showdown was created to encourage changes in the approach to developing a business plan before launching a collection. Projects must consider what will be required to achieve long-term success as an NFT brand”, — said Austin Feder, head of strategy at the Solana Foundation.

The foundation will open applications on June 10. The foundation will select ten winners who will receive guidance from Solana.

Leading experts in promoting non-fungible tokens will conduct consultations with the best projects on how to achieve long-term success.

Earlier, Solana introduced state compression technology, which significantly reduces costs for on-chain operations, including NFT creation.

In April, the Helium wireless network completed its transition to the Solana blockchain, under which it created nearly 1 million non-fungible tokens.