In the process of exploring the various NFT communities floating around the Web3 space, you might have come across Tezos. While it may have not achieved the same level of dominance as Ethereum or Solana yet, it’s clear that a growing community of talented NFT artists have chosen it as their home.
We’ve had Tezos integrated for a while now, and it’s high time that we begin showing the larger Rarible community about the unique, art-focused blockchain.
Over the course of this series, we’ll be casting the spotlight on some of these innovative and boundary pushing individuals. But before we get to that, it’s important to first learn about the Tezos chain itself. Whether you’re a complete crypto beginner, or someone on the lookout for some new collections, get comfy and dive in with us in this quick introduction.
What is Tezos?
For those completely uninitiated to the crypto world, Tezos is one of many blockchains out there. Like its counterparts, it is used as a platform to create and distribute new digital assets, and to operate decentralized applications on.
The concept behind Tezos was first outlined in 2014, with the intention to create a self-updating blockchain. In essence, holders of its native token, XTZ, could vote on any future changes to the platform. Once a certain level of consensus amongst token holders was reached, the platform would automatically update itself to reflect these changes.
Its ultimate mission is to create a truly decentralized platform through a combination of such on-chain governance from token holders, community development, and support from the Tezos Foundation.
Without getting too technical, we’ll briefly talk about four key features that distinguish Tezos from other chains.
Firstly, it is incredibly energy efficient. Tezos runs on a Proof of Stake (PoS) consensus mechanism, which requires less computational energy to operate, in comparison to the mechanisms that other chains use. It is estimated that the Tezos network has a carbon footprint of 17 people. Ethereum, on the other hand, uses almost two million times more energy. If you happen to be someone who is particularly mindful about environmental concerns, Tezos is clearly a solid option for running your transactions.
Secondly, it encourages active community participation by design. Through its ‘baking’ mechanism, XTZ holders are rewarded when they use their tokens in various ways. They can either choose to help verify transactions on the network, or delegate to and combine this power with other ‘bakers’ if they only have a small amount of XTZ. These actions result in users being able to earn more XTZ tokens. The ultimate aim of these mechanics is to help incentivize and create a sense of ownership for Tezos holders.It comes as now surprise that Tezos has one of the most engaged communities around.
Thirdly, the chain is able to automatically update itself, once certain community voting thresholds are met. With such an infrastructure, Tezos ensures that on-chain activities and interactions are not unduly interrupted, allowing community members to focus on building instead.
Finally, and perhaps most importantly, the costs of minting an NFT with Tezos tends to be minimal. Whether you’re an artist or collector, this helps to lower your costs and barriers to entry.
If you need any more convincing about why these features make Tezos so great, the community that has established itself around the platform speaks for itself.
The low costs of use and high levels of engagement has helped provide a space where innovation and experimentation can grow, regardless of the project’s focus. Whether its to increase awareness about the intersection of NFTs and the environment (#CleanNFTs), or experiments like #TezTrash, there’s a project for everyone.
How to Use Tezos
Now to the fun part where you get to actually experience Tezos! Don’t worry, it is relatively straightforward to use.
Step #1: Create a Wallet.
Like most cryptocurrencies, you will first have to obtain a wallet that supports it, whether that be a hardware or software wallet. Some options you can choose from include Spire, Kukai, Temple, Umami or AirGap.
Most website interfaces should be easy to navigate and you should be able to finish creating your wallet by following the steps on these platforms.
Step #2: Purchase some XTZ.
Then, connect your wallet to an exchange that offers XTZ, and purchase or exchange some with a currency of your choice. You can consider using Binance, Crypto.com, Kraken, or any other exchange of your choice.
These exchanges will typically allow you to use your fiat bank account to purchase XTZ, in exchange for the currency of your choice.
Step #3: Use your XTZ!
From there, you can then proceed to use Tezos in the way you wish – you can bake it or delegate it to other users on the Tezos platform by connecting your wallet.
Otherwise, you can use it to cover your minting and transaction fees as you mint NFTs on the chain on marketplaces such Rarible.
Ultimately, if you’re someone who is environmentally conscious or wants to be engaged in community governance, this might just be the chain to explore for you.
Otherwise, if you simply just want a friendly, low-cost and smooth experience as you experiment with the NFT world, Tezos is a wonderful place to begin. Not to mention that some of the greatest NFT art lives there.
Ok, how do I get started with Tezos NFTs?
As the weeks go by, we’ll also be featuring some of the most dynamic projects on Tezos, so watch this space.
In the meantime, keep an eye on the #tezos channel on the Rarible Discord for updates and information on the latest drops!