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OpenGalaxy

ERC721P2P which enables peer-to-peer trust-less transactions, and uploading full on-chain SVG mechanism.

OpenGalaxy

Created At

ETHGlobal Tokyo

Winner of

πŸŠβ€β™‚οΈ Polygon β€” Pool Prize

Project Description

We have developed the OpenGalaxy, it is a website that is valuable to many creators.

https://nft.fullyonchain.xyz/

The advantages of this product are twofold.

a. Highly compressed image data (SVG) storing on the blockchain.

Because storing images on the blockchain is so expensive, many creators struggle to compress the data.

With our product, creators simply upload the images they have created, and we automate the process of compressing them and storing them on the blockchain.

b. ERC721-based NFT that enables peer-to-peer and trustless transactions.

ERC721 has a few fundamental issues.

  • Royalties are not enforceable.
  • Many NFTs are stolen.
  • It is not decentralized.

In order to solve this problem, we need to create "ERC721P2P", which performs transactions without trusted third parties (P2P transactions), and makes it possible to enforce royalties.

How it's Made

These two mechanisms (SVG compressing and peer-to-peer,trustless transactions) are independent of each other and have been developed by us as open source projects. The result of this hackathon was the fusion of these two mechanisms and their release as a website.

  • We have built a web-based UI to make our SVG compression mechanism easily accessible to many creators.
  • To address situations where our SVG compression mechanism may not be able to fully convert an image, we have enabled a side-by-side comparison of the original image and the compressed image.
  • Set a link URL for each work so that creators can easily spread their work.

(*) The registered Github URL is mainstream. The deliverables of the hackathon is in the following branch. https://github.com/Cryptocoders-wtf/generative/tree/feat/ETHGlobal2023

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