Smart Contract Deployment Leads to NFT Claiming
Over one million addresses have successfully deployed a smart contract on the Scroll second layer. This achievement has unlocked the opportunity for these addresses to claim a complimentary Non-Fungible Token (NFT).
Claiming is now open for more than 1,100,000 addresses who are eligible to mint a unique piece of Scroll’s history and culture,” the project announced.
The response has been swift and significant. Within hours of the claim opening, 110,000 addresses had already claimed their NFTs. These NFTs are categorised into three distinct classes: Quintic, Quartic, and Cubic. The Quintic class, reserved for smart contracts deployed before November 9, is notably rare, while the others are more common.
Eligibility for this NFT claim hinges on whether a smart contract was deployed on the Scroll second layer prior to December 9th.
An interesting approach was observed with Zombo, a smart contract as a service. This service allowed users to ‘mint’ without the need to write or publish code, merely by clicking a button. However, this method saw limited use, with only 2,000 addresses opting for it. This suggests that a majority of participants chose to manually publish their smart contracts, reaching an impressive count of one million in just two months.
Address Does Not Equal Individual
It’s important to note that an address in this context does not necessarily equate to an individual. Even if we consider a conservative ratio of one address representing ten individuals, this still signifies that around 100,000 people engaged in this activity.
Scroll’s platform, despite its novelty and small scale, with just 14,000 Ethereum (eth) locked in, has shown compatibility with the ethereum EVM, byte for byte. Launched in October, its growth and adoption are subjects of interest.
The Uncertain Purpose of Scroll NFTs
The intended use of these NFTs remains ambiguous. The Quintic NFTs currently hold a value of approximately 0.05 eth ($120), but there is speculation they might be used as criteria for future token airdrops.
Comparisons with other Layer 2 (L2) networks, such as Starknet and zkSync, are inevitable. Both have indicated plans for token launches, leading to expectations that Scroll might follow a similar path.
Minting these NFTs incurs a modest cost of about 30 cents, but additional charges for Layer 1 (L1) data bring the total to around $2. This cost is significantly lower than the $50 typically required on the mainnet.
Slow Adoption but Potential Unleashed
The adoption of this second layer has been gradual, as indicated by the amount of eth deposited. However, its affordability and ease of use, exemplified by its direct compatibility with mainnet, showcase its potential.
The competitive landscape of L2 networks is notable, with various platforms like zkSync and Linea engaging in intense farming activities. Others, like Arbitrum, are developing their ecosystems, each contributing uniquely to the evolving space.
The phenomenon of one million contracts being deployed in just two months, predominantly for the acquisition of a jpeg, underscores the influential nature of the token model in the blockchain domain.
While the Scroll project’s initiative marks a significant milestone, the actual impact and long-term viability of such endeavors in the rapidly evolving blockchain landscape remain to be seen, warranting cautious optimism.