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From Crypto Enthusiast to NFT Pioneer: The Story of Spooks

Spooks’s journey started back in 2013, when founder Django first became interested in cryptocurrencies. Fascinated by the technology and philosophy behind digital assets, he was drawn to the unique qualities and utility of NFTs on Ethereum and Solana.

He started buying and minting NFTs and was excited to see what the future held for these digital assets. Of course, like many in the NFT space, he also had some setbacks, such as purchasing a rug on Ethereum that didn't quite turn out as expected.

Despite these challenges, he remained passionate about the potential for NFTs to change the way we think about ownership and value. He saw an opportunity to use NFTs for anonymity and the sale of services and decided to pursue this idea with the creation of Spooks. He considered starting a project on the Solana chain, but ultimately decided against it due to the market being saturated at the time.

Instead, he turned his attention to Aptos and decided to bring Spooks to life on this novel blockchain, sensing its potential as a fresh platform for NFT projects.

NFTs as Access Tokens: A New Way to Pay for Online Services

NFTs can digitally represent ownership of a specific item, whether it's a piece of art, a collectible, or even a virtual real estate property. But beyond simple possession, NFTs could revolutionize the way we access and pay for online services, operating like tickets or licenses that provide access to services.

Imagine using an NFT like a  license key to use software or access a subscription. These services could be hosted on decentralized servers, making them accessible to anyone with an internet connection and the corresponding  NFT. The payment rails for these services would be limitless, as anyone could pay for access using cryptocurrency or other digital assets.

In addition to software services, NFTs can also be used to unlock features within digital products. This opens up a  world of possibilities for content creators and developers. For example, you could use an NFT to unlock a premium feature within a mobile app or to access a special area of a video game. The possibilities are endless.

The Coachella-FTX Incident and the Importance of Reliable Digital Asset Management

As the use of digital assets continues to grow, the need for secure and reliable ways to manage these assets becomes increasingly important. The recent incident with Coachella hosting their NFTs on FTX highlights the potential risks and consequences of relying on centralized parties for the storage and management of digital assets.

This raises the question of how we can ensure that connections between digital assets and real-world service remain intact. One potential solution is decentralization, which distributes data and power across a network, rather than relying on a single centralized authority.

While decentralization has the potential to offer greater security and reliability, it may not be fully achievable in the near future due to the presence of brokers and exchanges as middlemen in many transactions. Additionally, to achieve widespread adoption, it may be necessary to have middlemen or custodial services that act as a sort of "bank" for digital assets. These custodial services would provide a degree of security and reliability, while still making digital asset transactions convenient.

The Gradual Shift Toward Decentralization: Opportunities and Challenges

The decentralized revolution is upon us; individuals are no longer at the mercy of centralized intermediaries for the ownership and control of their assets. The private key is the new bank account, and people are empowered to be their own bank with full control and custody over their digital assets.

The decentralization of protocols is crucial to their long-term success. When a protocol or technology is dependent on a small group of individuals or entities, it becomes vulnerable to their actions and decisions.

The true test of decentralization is whether a protocol can continue to exist and thrive without its original creators. Bitcoin is a prime example of a protocol that has passed this test. The identity of its creator, Satoshi, is still unknown, and the protocol has been able to survive and thrive without them.

On the other hand, Ethereum has gained significant traction and adoption without meaningful decentralization. The central role of Vitalik Buterin as a co-founder of the protocol, and the Ethereum Foundation around him, are potential points of failure. While Ethereum might be heading toward true decentralization, it is not there yet.

Influencing the Direction of Decentralized Protocols

One way in which the direction of a protocol can be influenced is through voting. However, this method is not without its drawbacks. While the majority may choose what they believe to be the best course of action, it may not always align with the long-term health and success of the protocol. In some cases, the decision may be driven by self-interest rather than the good of the project.

Ethereum is a prime example of a protocol that has undergone significant changes and upgrades since its inception. From its original proof-of-work consensus algorithm to the current proof-of-stake model, Ethereum has evolved to meet the needs of its growing user base and the evolving landscape of the cryptocurrency industry.

On the other hand, Bitcoin has a different approach to protocol development. Rather than continuously upgrading and evolving, Bitcoin aims to reach a steady state where it is a simple and basic protocol for moving value with a finite supply.

The upgradability of a protocol can play a role in its competitiveness against other protocols. For example, a protocol like Aptos that is built to be able to continuously adapt and evolve has an advantage over one that does not upgrade. However, this upgradability must be balanced with the potential risks and consequences of making changes, and the inherent vulnerability of being able to modify the protocol after launch.

Spooks: Enhancing NFT Trading with a Comprehensive Suite of Tools and Features

Spooks is building a suite of tools to track and analyze NFTs on Aptos. These tools include lists of upcoming and launched NFT projects with data on supply, floor price, volume, and market capitalization.

Spooks plans to implement their own indexer to track activity on the Aptos chain in order to provide deeper analysis of NFT projects. This analysis will include full price charts, trading charts, and real-time sales data.

In addition to these on-chain tools, Spooks is building off-chain tools, such as Twitter connectors and engagement tracking tools for individuals and projects. They are also planning to create a calendar for NFT minting events and a game that utilizes dynamic NFTs.

These tools are intended to support the Spooks community and the broader Aptos ecosystem, enabling NFT traders to make more informed decisions and trade more effectively.

Spooks plans to ensure that its analyses  reflect genuine engagement, rather than artificially inflated numbers. Users will be notified of projects with excessive giveaways and bot presence. The goal is to make projects accountable for bot usage and to provide transparency to users.

Future possibilities

Spooks intends to revolutionize governance in the DeFi and NFT space by allowing users to use their NFTs as voting tools. Spooks also aims to create a decentralized autonomous organization (DAO) where users can make investment decisions and share in the revenue generated by voting on proposals related to DeFi and NFT projects.

By allowing NFT holders to act as venture capitalists and vote on which projects and protocols they would like to see funded, Spooks is helping to create a more decentralized and transparent ecosystem.

ABOUT SPOOKS

Spooks is a brand focused on providing tools and resources for the Aptos ecosystem. These tools include a curated list of projects and people building on Aptos, tracking tools with detailed statistics, a drops calendar for keeping track of new NFT projects coming to Aptos, and a Spook Mixer tool for creating and sharing custom Spooks with the community.

One of the standout features of Spooks is its chain metrics tool, which provides real-time data on wallet activity, trades, and listed assets. This gives users an in-depth look at the inner workings of the DeFi and NFT ecosystems, and allows them to make informed decisions about which projects to support.

ABOUT PONTEM

Pontem is a product development platform that enables global financial inclusion through blockchain technology. Pontem is developing infrastructure and decentralized tools for  the fastest and most scalable Layer 1 blockchain – Aptos

The Pontem Wallet is the gateway to the Aptos ecosystem available for Chrome,  Firefox, and iOS. Pontem Wallet users can send and receive tokens, connect to decentralized applications, and explore the Aptos ecosystem.

As a result of its partnership with Aptos, Pontem has developed foundational dApps like the Move Playground IDE, Liquidswap AMM, and ByteBabel code translator.