You On the Blockchain: Minted.One Will Create Personalized Tokens and Collectibles on Ethereum

You On the Blockchain: Minted.One Will Create Personalized Tokens and Collectibles on Ethereum

Minted.one, a new mobile app, will provide users with a one-click interface that allows them to create their own personalized crypto tokens.

According to the project’s blog:

“Minted.one is an attempt, a social experiment, to see if we can capture the power of you, and express it into your very own cryptocurrency in this new Internet era.”

The project currently runs on Ethereum and will allow the creation of ERC-20 and ERC-721 tokens — coins and cryptocollectibles, respectively.

Who Wants Tokens?

It is difficult for most people to create a token—not just technically, but also competitively. Altcoins and minor tokens are arguably an unviable market. A vast amount of tokens are doomed to fail, and some have declared the ICO boom officially over.

But Minted.one is taking quite a novel approach, and members of the Ethereum subreddit are showing enthusiasm for the project. According to one Redditor, knight2017:

“Currently the misconception is that tokens need to be project/ICO related. This is really not [true]. I think daily/one time use of throw away tokens is really the killer app…ie. If some one wants to host an event with exlusive guests you can just issue a token to distribute to the guests. Or bands with showcases or memberships of any kinds [or] clubs.”

It may be refreshing to see crypto tokens that are immediately useful and don’t involve raising funds for a long-term business plan. After all, one of the tenets of crypto is the idea that it can be circulated freely and easily. Minted.one may encourage token circulation between people who aren’t serious crypto investors.

However, it’s not clear how Minted.one will mesh with existing regulations around ICOs and securities. In theory, a limited-use token that is essentially a coupon or festival pass wouldn’t fall under current regulations, but Minted.one could potentially be used to create a full-fledged ICO.

Not Without Competition

Ethereum itself allows the creation of tokens, and Minted.one simply streamlines the process. As such, other developers have had similar ideas: Fondu likewise allows users to create Ethereum tokens and smart contracts. Etherparty Rocket also enables users to create crowdsales. However, Fondu is a hobbyist project (simply a web form that generates a shell script) and Rocket is aimed at businesses rather than individual users.

Minted.one is a more polished mobile app and is quite actively seeking adoption, which could enable it to go mainstream. The project is accepting applications for early access, and the app will be available on Google Play and the Apple Store.

The post You On the Blockchain: Minted.One Will Create Personalized Tokens and Collectibles on Ethereum appeared first on UNHASHED.

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