More on NFTs & Art
Scott Duke Kominers
3 years ago
NFT Creators Go Creative Commons Zero (cc0)
On January 1, "Public Domain Day," thousands of creative works immediately join the public domain. The original creator or copyright holder loses exclusive rights to reproduce, adapt, or publish the work, and anybody can use it. It happens with movies, poems, music, artworks, books (where creative rights endure 70 years beyond the author's death), and sometimes source code.
Public domain creative works open the door to new uses. 400,000 sound recordings from before 1923, including Winnie-the-Pooh, were released this year. With most of A.A. Milne's 1926 Winnie-the-Pooh characters now available, we're seeing innovative interpretations Milne likely never planned. The ancient hyphenated version of the honey-loving bear is being adapted for a horror movie: "Winnie-the-Pooh: Blood and Honey"... with Pooh and Piglet as the baddies.
Counterintuitively, experimenting and recombination can occasionally increase IP value. Open source movements allow the public to build on (or fork and duplicate) existing technologies. Permissionless innovation helps Android, Linux, and other open source software projects compete. Crypto's success at attracting public development is also due to its support of open source and "remix culture," notably in NFT forums.
Production memes
NFT projects use several IP strategies to establish brands, communities, and content. Some preserve regular IP protections; others offer NFT owners the opportunity to innovate on connected IP; yet others have removed copyright and other IP safeguards.
By using the "Creative Commons Zero" (cc0) license, artists can intentionally select for "no rights reserved." This option permits anyone to benefit from derivative works without legal repercussions. There's still a lot of confusion between copyrights and NFTs, so nothing here should be considered legal, financial, tax, or investment advice. Check out this post for an overview of copyright vulnerabilities with NFTs and how authors can protect owners' rights. This article focuses on cc0.
Nouns, a 2021 project, popularized cc0 for NFTs. Others followed, including: A Common Place, Anonymice, Blitmap, Chain Runners, Cryptoadz, CryptoTeddies, Goblintown, Gradis, Loot, mfers, Mirakai, Shields, and Terrarium Club are cc0 projects.
Popular crypto artist XCOPY licensed their 1-of-1 NFT artwork "Right-click and Save As Guy" under cc0 in January, exactly one month after selling it. cc0 has spawned many derivatives.
"Right-click Save As Guy" by XCOPY (1)/derivative works (2)
XCOPY said Monday he would apply cc0 to "all his existing art." "We haven't seen a cc0 summer yet, but I think it's approaching," said the artist. - predicting a "DeFi summer" in 2020, when decentralized finance gained popularity.
Why do so many NFT authors choose "no rights"?
Promoting expansions of the original project to create a more lively and active community is one rationale. This makes sense in crypto, where many value open sharing and establishing community.
Creativity depends on cultural significance. NFTs may allow verifiable ownership of any digital asset, regardless of license, but cc0 jumpstarts "meme-ability" by actively, not passively, inviting derivative works. As new derivatives are made and shared, attention might flow back to the original, boosting its reputation. This may inspire new interpretations, leading in a flywheel effect where each derivative adds to the original's worth - similar to platform network effects, where platforms become more valuable as more users join them.
cc0 licence allows creators "seize production memes."
Physical items are also using cc0 NFT assets, thus it's not just a digital phenomenon. The Nouns Vision initiative turned the square-framed spectacles shown on each new NounsDAO NFT ("one per day, forever") into luxury sunglasses. Blitmap's pixel-art has been used on shoes, apparel, and caps. In traditional IP regimes, a single owner controls creation, licensing, and production.
The physical "blitcap" (3rd level) is a descendant of the trait in the cc0 Chain Runners collection (2nd), which uses the "logo" from cc0 Blitmap (1st)! The Logo is Blitmap token #84 and has been used as a trait in various collections. The "Dom Rose" is another popular token. These homages reference Blitmap's influence as a cc0 leader, as one of the earliest NFT projects to proclaim public domain intents. A new collection, Citizens of Tajigen, emerged last week with a Blitcap characteristic.
These derivatives can be a win-win for everyone, not just the original inventors, especially when using NFT assets to establish unique brands. As people learn about the derivative, they may become interested in the original. If you see someone wearing Nouns glasses on the street (or in a Super Bowl ad), you may desire a pair, but you may also be interested in buying an original NounsDAO NFT or related derivative.
Blitmap Logo Hat (1), Chain Runners #780 ft. Hat (2), and Blitmap Original "Logo #87" (3)
Co-creating open source
NFTs' power comes from smart contract technology's intrinsic composability. Many smart contracts can be integrated or stacked to generate richer applications.
"Money Legos" describes how decentralized finance ("DeFi") smart contracts interconnect to generate new financial use cases. Yearn communicates with MakerDAO's stablecoin $DAI and exchange liquidity provider Curve by calling public smart contract methods. NFTs and their underlying smart contracts can operate as the base-layer framework for recombining and interconnecting culture and creativity.
cc0 gives an NFT's enthusiast community authority to develop new value layers whenever, wherever, and however they wish.
Multiple cc0 projects are playable characters in HyperLoot, a Loot Project knockoff.
Open source and Linux's rise are parallels. When the internet was young, Microsoft dominated the OS market with Windows. Linux (and its developer Linus Torvalds) championed a community-first mentality, freely available the source code without restrictions. This led to developers worldwide producing new software for Linux, from web servers to databases. As people (and organizations) created world-class open source software, Linux's value proposition grew, leading to explosive development and industry innovation. According to Truelist, Linux powers 96.3% of the top 1 million web servers and 85% of smartphones.
With cc0 licensing empowering NFT community builders, one might hope for long-term innovation. Combining cc0 with NFTs "turns an antagonistic game into a co-operative one," says NounsDAO cofounder punk4156. It's important on several levels. First, decentralized systems from open source to crypto are about trust and coordination, therefore facilitating cooperation is crucial. Second, the dynamics of this cooperation work well in the context of NFTs because giving people ownership over their digital assets allows them to internalize the results of co-creation through the value that accrues to their assets and contributions, which incentivizes them to participate in co-creation in the first place.
Licensed to create
If cc0 projects are open source "applications" or "platforms," then NFT artwork, metadata, and smart contracts provide the "user interface" and the underlying blockchain (e.g., Ethereum) is the "operating system." For these apps to attain Linux-like potential, more infrastructure services must be established and made available so people may take advantage of cc0's remixing capabilities.
These services are developing. Zora protocol and OpenSea's open source Seaport protocol enable open, permissionless NFT marketplaces. A pixel-art-rendering engine was just published on-chain to the Ethereum blockchain and integrated into OKPC and ICE64. Each application improves blockchain's "out-of-the-box" capabilities, leading to new apps created from the improved building blocks.
Web3 developer growth is at an all-time high, yet it's still a small fraction of active software developers globally. As additional developers enter the field, prospective NFT projects may find more creative and infrastructure Legos for cc0 and beyond.
Electric Capital Developer Report (2021), p. 122
Growth requires composability. Users can easily integrate digital assets developed on public standards and compatible infrastructure into other platforms. The Loot Project is one of the first to illustrate decentralized co-creation, worldbuilding, and more in NFTs. This example was low-fi or "incomplete" aesthetically, providing room for imagination and community co-creation.
Loot began with a series of Loot bag NFTs, each listing eight "adventure things" in white writing on a black backdrop (such as Loot Bag #5726's "Katana, Divine Robe, Great Helm, Wool Sash, Divine Slippers, Chain Gloves, Amulet, Gold Ring"). Dom Hofmann's free Loot bags served as a foundation for the community.
Several projects have begun metaphorical (lore) and practical (game development) world-building in a short time, with artists contributing many variations to the collective "Lootverse." They've produced games (Realms & The Crypt), characters (Genesis Project, Hyperloot, Loot Explorers), storytelling initiatives (Banners, OpenQuill), and even infrastructure (The Rift).
Why cc0 and composability? Because consumers own and control Loot bags, they may use them wherever they choose by connecting their crypto wallets. This allows users to participate in multiple derivative projects, such as Genesis Adventurers, whose characters appear in many others — creating a decentralized franchise not owned by any one corporation.
Genesis Project's Genesis Adventurer (1) with HyperLoot (2) and Loot Explorer (3) versions
When to go cc0
There are several IP development strategies NFT projects can use. When it comes to cc0, it’s important to be realistic. The public domain won't make a project a runaway success just by implementing the license. cc0 works well for NFT initiatives that can develop a rich, enlarged ecosystem.
Many of the most successful cc0 projects have introduced flexible intellectual property. The Nouns brand is as obvious for a beer ad as for real glasses; Loot bags are simple primitives that make sense in all adventure settings; and the Goblintown visual style looks good on dwarfs, zombies, and cranky owls as it does on Val Kilmer.
The ideal cc0 NFT project gives builders the opportunity to add value:
vertically, by stacking new content and features directly on top of the original cc0 assets (for instance, as with games built on the Loot ecosystem, among others), and
horizontally, by introducing distinct but related intellectual property that helps propagate the original cc0 project’s brand (as with various Goblintown derivatives, among others).
These actions can assist cc0 NFT business models. Because cc0 NFT projects receive royalties from secondary sales, third-party extensions and derivatives can boost demand for the original assets.
Using cc0 license lowers friction that could hinder brand-reinforcing extensions or lead to them bypassing the original. Robbie Broome recently argued (in the context of his cc0 project A Common Place) that giving away his IP to cc0 avoids bad rehashes down the line. If UrbanOutfitters wanted to put my design on a tee, they could use the actual work instead of hiring a designer. CC0 can turn competition into cooperation.
Community agreement about core assets' value and contribution can help cc0 projects. Cohesion and engagement are key. Using the above examples: Developers can design adventure games around whatever themes and item concepts they desire, but many choose Loot bags because of the Lootverse's community togetherness. Flipmap shared half of its money with the original Blitmap artists in acknowledgment of that project's core role in the community. This can build a healthy culture within a cc0 project ecosystem. Commentator NiftyPins said it was smart to acknowledge the people that constructed their universe. Many OG Blitmap artists have popped into the Flipmap discord to share information.
cc0 isn't a one-size-fits-all answer; NFTs formed around well-established brands may prefer more restrictive licenses to preserve their intellectual property and reinforce exclusivity. cc0 has some superficial similarities to permitting NFT owners to market the IP connected with their NFTs (à la Bored Ape Yacht Club), but there is a significant difference: cc0 holders can't exclude others from utilizing the same IP. This can make it tougher for holders to develop commercial brands on cc0 assets or offer specific rights to partners. Holders can still introduce enlarged intellectual property (such as backstories or derivatives) that they control.
Blockchain technologies and the crypto ethos are decentralized and open-source. This makes it logical for crypto initiatives to build around cc0 content models, which build on the work of the Creative Commons foundation and numerous open source pioneers.
NFT creators that choose cc0 must select how involved they want to be in building the ecosystem. Some cc0 project leaders, like Chain Runners' developers, have kept building on top of the initial cc0 assets, creating an environment derivative projects can plug into. Dom Hofmann stood back from Loot, letting the community lead. (Dom is also working on additional cc0 NFT projects for the company he formed to build Blitmap.) Other authors have chosen out totally, like sartoshi, who announced his exit from the cc0 project he founded, mfers, and from the NFT area by publishing a final edition suitably named "end of sartoshi" and then deactivating his Twitter account. A multi-signature wallet of seven mfers controls the project's smart contract.
cc0 licensing allows a robust community to co-create in ways that benefit all members, regardless of original creators' continuous commitment. We foresee more organized infrastructure and design patterns as NFT matures. Like open source software, value capture frameworks may see innovation. (We could imagine a variant of the "Sleepycat license," which requires commercial software to pay licensing fees when embedding open source components.) As creators progress the space, we expect them to build unique rights and licensing strategies. cc0 allows NFT producers to bootstrap ideas that may take off.

shivsak
3 years ago
A visual exploration of the REAL use cases for NFTs in the Future
In this essay, I studied REAL NFT use examples and their potential uses.
Knowledge of the Hype Cycle
Gartner's Hype Cycle.
It proposes 5 phases for disruptive technology.
1. Technology Trigger: the emergence of potentially disruptive technology.
2. Peak of Inflated Expectations: Early publicity creates hype. (Ex: 2021 Bubble)
3. Trough of Disillusionment: Early projects fail to deliver on promises and the public loses interest. I suspect NFTs are somewhere around this trough of disillusionment now.
4. Enlightenment slope: The tech shows successful use cases.
5. Plateau of Productivity: Mainstream adoption has arrived and broader market applications have proven themselves. Here’s a more detailed visual of the Gartner Hype Cycle from Wikipedia.
In the speculative NFT bubble of 2021, @beeple sold Everydays: the First 5000 Days for $69 MILLION in 2021's NFT bubble.
@nbatopshot sold millions in video collectibles.
This is when expectations peaked.
Let's examine NFTs' real-world applications.
Watch this video if you're unfamiliar with NFTs.
Online Art
Most people think NFTs are rich people buying worthless JPEGs and MP4s.
Digital artwork and collectibles are revolutionary for creators and enthusiasts.
NFT Profile Pictures
You might also have seen NFT profile pictures on Twitter.
My profile picture is an NFT I coined with @skogards factoria app, which helps me avoid bogus accounts.
Profile pictures are a good beginning point because they're unique and clearly yours.
NFTs are a way to represent proof-of-ownership. It’s easier to prove ownership of digital assets than physical assets, which is why artwork and pfps are the first use cases.
They can do much more.
NFTs can represent anything with a unique owner and digital ownership certificate. Domains and usernames.
Usernames & Domains
@unstoppableweb, @ensdomains, @rarible sell NFT domains.
NFT domains are transferable, which is a benefit.
Godaddy and other web2 providers have difficult-to-transfer domains. Domains are often leased instead of purchased.
Tickets
NFTs can also represent concert tickets and event passes.
There's a limited number, and entry requires proof.
NFTs can eliminate the problem of forgery and make it easy to verify authenticity and ownership.
NFT tickets can be traded on the secondary market, which allows for:
marketplaces that are uniform and offer the seller and buyer security (currently, tickets are traded on inefficient markets like FB & craigslist)
unbiased pricing
Payment of royalties to the creator
4. Historical ticket ownership data implies performers can airdrop future passes, discounts, etc.
5. NFT passes can be a fandom badge.
The $30B+ online tickets business is increasing fast.
NFT-based ticketing projects:
Gaming Assets
NFTs also help in-game assets.
Imagine someone spending five years collecting a rare in-game blade, then outgrowing or quitting the game. Gamers value that collectible.
The gaming industry is expected to make $200 BILLION in revenue this year, a significant portion of which comes from in-game purchases.
Royalties on secondary market trading of gaming assets encourage gaming businesses to develop NFT-based ecosystems.
Digital assets are the start. On-chain NFTs can represent real-world assets effectively.
Real estate has a unique owner and requires ownership confirmation.
Real Estate
Tokenizing property has many benefits.
1. Can be fractionalized to increase access, liquidity
2. Can be collateralized to increase capital efficiency and access to loans backed by an on-chain asset
3. Allows investors to diversify or make bets on specific neighborhoods, towns or cities +++
I've written about this thought exercise before.
I made an animated video explaining this.
We've just explored NFTs for transferable assets. But what about non-transferrable NFTs?
SBTs are Soul-Bound Tokens. Vitalik Buterin (Ethereum co-founder) blogged about this.
NFTs are basically verifiable digital certificates.
Diplomas & Degrees
That fits Degrees & Diplomas. These shouldn't be marketable, thus they can be non-transferable SBTs.
Anyone can verify the legitimacy of on-chain credentials, degrees, abilities, and achievements.
The same goes for other awards.
For example, LinkedIn could give you a verified checkmark for your degree or skills.
Authenticity Protection
NFTs can also safeguard against counterfeiting.
Counterfeiting is the largest criminal enterprise in the world, estimated to be $2 TRILLION a year and growing.
Anti-counterfeit tech is valuable.
This is one of @ORIGYNTech's projects.
Identity
Identity theft/verification is another real-world problem NFTs can handle.
In the US, 15 million+ citizens face identity theft every year, suffering damages of over $50 billion a year.
This isn't surprising considering all you need for US identity theft is a 9-digit number handed around in emails, documents, on the phone, etc.
Identity NFTs can fix this.
NFTs are one-of-a-kind and unforgeable.
NFTs offer a universal standard.
NFTs are simple to verify.
SBTs, or non-transferrable NFTs, are tied to a particular wallet.
In the event of wallet loss or theft, NFTs may be revoked.
This could be one of the biggest use cases for NFTs.
Imagine a global identity standard that is standardized across countries, cannot be forged or stolen, is digital, easy to verify, and protects your private details.
Since your identity is more than your government ID, you may have many NFTs.
@0xPolygon and @civickey are developing on-chain identity.
Memberships
NFTs can authenticate digital and physical memberships.
Voting
NFT IDs can verify votes.
If you remember 2020, you'll know why this is an issue.
Online voting's ease can boost turnout.
Informational property
NFTs can protect IP.
This can earn creators royalties.
NFTs have 2 important properties:
Verifiability IP ownership is unambiguously stated and publicly verified.
Platforms that enable authors to receive royalties on their IP can enter the market thanks to standardization.
Content Rights
Monetization without copyrighting = more opportunities for everyone.
This works well with the music.
Spotify and Apple Music pay creators very little.
Crowdfunding
Creators can crowdfund with NFTs.
NFTs can represent future royalties for investors.
This is particularly useful for fields where people who are not in the top 1% can’t make money. (Example: Professional sports players)
Mirror.xyz allows blog-based crowdfunding.
Financial NFTs
This introduces Financial NFTs (fNFTs). Unique financial contracts abound.
Examples:
a person's collection of assets (unique portfolio)
A loan contract that has been partially repaid with a lender
temporal tokens (ex: veCRV)
Legal Agreements
Not just financial contracts.
NFT can represent any legal contract or document.
Messages & Emails
What about other agreements? Verbal agreements through emails and messages are likewise unique, but they're easily lost and fabricated.
Health Records
Medical records or prescriptions are another types of documentation that has to be verified but isn't.
Medical NFT examples:
Immunization records
Covid test outcomes
Prescriptions
health issues that may affect one's identity
Observations made via health sensors
Existing systems of proof by paper / PDF have photoshop-risk.
I tried to include most use scenarios, but this is just the beginning.
NFTs have many innovative uses.
For example: @ShaanVP minted an NFT called “5 Minutes of Fame” 👇
Here are 2 Twitter threads about NFTs:
This piece of gold by @chriscantino
2. This conversation between @punk6529 and @RaoulGMI on @RealVision“The World According to @punk6529”
If you're wondering why NFTs are better than web2 databases for these use scenarios, see this Twitter thread I wrote:
If you liked this, please share it.

xuanling11
3 years ago
Reddit NFT Achievement
Reddit's NFT market is alive and well.
NFT owners outnumber OpenSea on Reddit.
Reddit NFTs flip in OpenSea in days:
Fast-selling.
NFT sales will make Reddit's current communities more engaged.
I don't think NFTs will affect existing groups, but they will build hype for people to acquire them.
The first season of Collectibles is unique, but many missed the first season.
Second-season NFTs are less likely to be sold for a higher price than first-season ones.
If you use Reddit, it's fun to own NFTs.
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Will Lockett
3 years ago
Thanks to a recent development, solar energy may prove to be the best energy source.
Perovskite solar cells will revolutionize everything.
Humanity is in a climatic Armageddon. Our widespread ecological crimes of the previous century are catching up with us, and planet-scale karma threatens everyone. We must adjust to new technologies and lifestyles to avoid this fate. Even solar power, a renewable energy source, has climate problems. A recent discovery could boost solar power's eco-friendliness and affordability. Perovskite solar cells are amazing.
Perovskite is a silicon-like semiconductor. Semiconductors are used to make computer chips, LEDs, camera sensors, and solar cells. Silicon makes sturdy and long-lasting solar cells, thus it's used in most modern solar panels.
Perovskite solar cells are far better. First, they're easy to make at room temperature, unlike silicon cells, which require long, intricate baking processes. This makes perovskite cells cheaper to make and reduces their carbon footprint. Perovskite cells are efficient. Most silicon panel solar farms are 18% efficient, meaning 18% of solar radiation energy is transformed into electricity. Perovskite cells are 25% efficient, making them 38% more efficient than silicon.
However, perovskite cells are nowhere near as durable. A normal silicon panel will lose efficiency after 20 years. The first perovskite cells were ineffective since they lasted barely minutes.
Recent research from Princeton shows that perovskite cells can endure 30 years. The cells kept their efficiency, therefore no sacrifices were made.
No electrical or chemical engineer here, thus I can't explain how they did it. But strangely, the team said longevity isn't the big deal. In the next years, perovskite panels will become longer-lasting. How do you test a panel if you only have a month or two? This breakthrough technique needs a uniform method to estimate perovskite life expectancy fast. The study's key milestone was establishing a standard procedure.
Lab-based advanced aging tests are their solution. Perovskite cells decay faster at higher temperatures, so scientists can extrapolate from that. The test heated the panel to 110 degrees and waited for its output to reduce by 20%. Their panel lasted 2,100 hours (87.5 days) before a 20% decline.
They did some math to extrapolate this data and figure out how long the panel would have lasted in different climates, and were shocked to find it would last 30 years in Princeton. This made perovskite panels as durable as silicon panels. This panel could theoretically be sold today.
This technology will soon allow these brilliant panels to be released into the wild. This technology could be commercially viable in ten, maybe five years.
Solar power will be the best once it does. Solar power is cheap and low-carbon. Perovskite is the cheapest renewable energy source if we switch to it. Solar panel manufacturing's carbon footprint will also drop.
Perovskites' impact goes beyond cost and carbon. Silicon panels require harmful mining and contain toxic elements (cadmium). Perovskite panels don't require intense mining or horrible materials, making their production and expiration more eco-friendly.
Solar power destroys habitat. Massive solar farms could reduce biodiversity and disrupt local ecology by destroying vital habitats. Perovskite cells are more efficient, so they can shrink a solar farm while maintaining energy output. This reduces land requirements, making perovskite solar power cheaper, and could reduce solar's environmental impact.
Perovskite solar power is scalable and environmentally friendly. Princeton scientists will speed up the development and rollout of this energy.
Why bother with fusion, fast reactors, SMRs, or traditional nuclear power? We're close to developing a nearly perfect environmentally friendly power source, and we have the tools and systems to do so quickly. It's also affordable, so we can adopt it quickly and let the developing world use it to grow. Even I struggle to justify spending billions on fusion when a great, cheap technology outperforms it. Perovskite's eco-credentials and cost advantages could save the world and power humanity's future.

Will Lockett
3 years ago
The World Will Change With MIT's New Battery
It's cheaper, faster charging, longer lasting, safer, and better for the environment.
Batteries are the future. Next-gen and planet-saving technology, including solar power and EVs, require batteries. As these smart technologies become more popular, we find that our batteries can't keep up. Lithium-ion batteries are expensive, slow to charge, big, fast to decay, flammable, and not environmentally friendly. MIT just created a new battery that eliminates all of these problems. So, is this the battery of the future? Or is there a catch?
When I say entirely new, I mean it. This battery employs no currently available materials. Its electrodes are constructed of aluminium and pure sulfur instead of lithium-complicated ion's metals and graphite. Its electrolyte is formed of molten chloro-aluminate salts, not an organic solution with lithium salts like lithium-ion batteries.
How does this change in materials help?
Aluminum, sulfur, and chloro-aluminate salts are abundant, easy to acquire, and cheap. This battery might be six times cheaper than a lithium-ion battery and use less hazardous mining. The world and our wallets will benefit.
But don’t go thinking this means it lacks performance.
This battery charged in under a minute in tests. At 25 degrees Celsius, the battery will charge 25 times slower than at 110 degrees Celsius. This is because the salt, which has a very low melting point, is in an ideal state at 110 degrees and can carry a charge incredibly quickly. Unlike lithium-ion, this battery self-heats when charging and discharging, therefore no external heating is needed.
Anyone who's seen a lithium-ion battery burst might be surprised. Unlike lithium-ion batteries, none of the components in this new battery can catch fire. Thus, high-temperature charging and discharging speeds pose no concern.
These batteries are long-lasting. Lithium-ion batteries don't last long, as any iPhone owner can attest. During charging, metal forms a dendrite on the electrode. This metal spike will keep growing until it reaches the other end of the battery, short-circuiting it. This is why phone batteries only last a few years and why electric car range decreases over time. This new battery's molten salt slows deposition, extending its life. This helps the environment and our wallets.
These batteries are also energy dense. Some lithium-ion batteries have 270 Wh/kg energy density (volume and mass). Aluminum-sulfur batteries could have 1392 Wh/kg, according to calculations. They'd be 5x more energy dense. Tesla's Model 3 battery would weigh 96 kg instead of 480 kg if this battery were used. This would improve the car's efficiency and handling.
These calculations were for batteries without molten salt electrolyte. Because they don't reflect the exact battery chemistry, they aren't a surefire prediction.
This battery seems great. It will take years, maybe decades, before it reaches the market and makes a difference. Right?
Nope. The project's scientists founded Avanti to develop and market this technology.
So we'll soon be driving cheap, durable, eco-friendly, lightweight, and ultra-safe EVs? Nope.
This battery must be kept hot to keep the salt molten; otherwise, it won't work and will expand and contract, causing damage. This issue could be solved by packs that can rapidly pre-heat, but that project is far off.
Rapid and constant charge-discharge cycles make these batteries ideal for solar farms, homes, and EV charging stations. The battery is constantly being charged or discharged, allowing it to self-heat and maintain an ideal temperature.
These batteries aren't as sexy as those making EVs faster, more efficient, and cheaper. Grid batteries are crucial to our net-zero transition because they allow us to use more low-carbon energy. As we move away from fossil fuels, we'll need millions of these batteries, so the fact that they're cheap, safe, long-lasting, and environmentally friendly will be huge. Who knows, maybe EVs will use this technology one day. MIT has created another world-changing technology.

CNET
4 years ago
How a $300K Bored Ape Yacht Club NFT was accidentally sold for $3K
The Bored Ape Yacht Club is one of the most prestigious NFT collections in the world. A collection of 10,000 NFTs, each depicting an ape with different traits and visual attributes, Jimmy Fallon, Steph Curry and Post Malone are among their star-studded owners. Right now the price of entry is 52 ether, or $210,000.
Which is why it's so painful to see that someone accidentally sold their Bored Ape NFT for $3,066.
Unusual trades are often a sign of funny business, as in the case of the person who spent $530 million to buy an NFT from themselves. In Saturday's case, the cause was a simple, devastating "fat-finger error." That's when people make a trade online for the wrong thing, or for the wrong amount. Here the owner, real name Max or username maxnaut, meant to list his Bored Ape for 75 ether, or around $300,000. Instead he accidentally listed it for 0.75. One hundredth the intended price.
It was bought instantaneously. The buyer paid an extra $34,000 to speed up the transaction, ensuring no one could snap it up before them. The Bored Ape was then promptly listed for $248,000. The transaction appears to have been done by a bot, which can be coded to immediately buy NFTs listed below a certain price on behalf of their owners in order to take advantage of these exact situations.
"How'd it happen? A lapse of concentration I guess," Max told me. "I list a lot of items every day and just wasn't paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 eth [$34,000] of gas fees so it was instantly sniped before I could click cancel, and just like that, $250k was gone."
"And here within the beauty of the Blockchain you can see that it is both honest and unforgiving," he added.
Fat finger trades happen sporadically in traditional finance -- like the Japanese trader who almost bought 57% of Toyota's stock in 2014 -- but most financial institutions will stop those transactions if alerted quickly enough. Since cryptocurrency and NFTs are designed to be decentralized, you essentially have to rely on the goodwill of the buyer to reverse the transaction.
Fat finger errors in cryptocurrency trades have made many a headline over the past few years. Back in 2019, the company behind Tether, a cryptocurrency pegged to the US dollar, nearly doubled its own coin supply when it accidentally created $5 billion-worth of new coins. In March, BlockFi meant to send 700 Gemini Dollars to a set of customers, worth roughly $1 each, but mistakenly sent out millions of dollars worth of bitcoin instead. Last month a company erroneously paid a $24 million fee on a $100,000 transaction.
Similar incidents are increasingly being seen in NFTs, now that many collections have accumulated in market value over the past year. Last month someone tried selling a CryptoPunk NFT for $19 million, but accidentally listed it for $19,000 instead. Back in August, someone fat finger listed their Bored Ape for $26,000, an error that someone else immediately capitalized on. The original owner offered $50,000 to the buyer to return the Bored Ape -- but instead the opportunistic buyer sold it for the then-market price of $150,000.
"The industry is so new, bad things are going to happen whether it's your fault or the tech," Max said. "Once you no longer have control of the outcome, forget and move on."
The Bored Ape Yacht Club launched back in April 2021, with 10,000 NFTs being sold for 0.08 ether each -- about $190 at the time. While NFTs are often associated with individual digital art pieces, collections like the Bored Ape Yacht Club, which allow owners to flaunt their NFTs by using them as profile pictures on social media, are becoming increasingly prevalent. The Bored Ape Yacht Club has since become the second biggest NFT collection in the world, second only to CryptoPunks, which launched in 2017 and is considered the "original" NFT collection.
