We're seeing some new interesting onchain experiments again, as NFTs x ETH mainnet heat-up
$uPEG is a twist on ERC-404s on Uniswap V4 hooks. It's fundamentally the same concept, with some diffs
- Everytime you buy a whole $uPEG, you get minted a new onchain unicorn art
- Like ERC404, when you sell it beneath a whole number, you lose that NFT
- Unlike ERC404, only new IDs are minted. And they don't follow the traditional ERC721 interface, they have their own custom one. In ERC404, the same pooled NFTs are cycled over and over again, while infinitely new uPEG arts are generated as people keep buying
Honestly nothing that groundbreaking? Unless I'm missing something. It's very very similar to ERC404. Maybe Uniswap V4 hooks add some extra dimension that I'm missing? I to this day am not well familiarized with UniV4.
But still a more interesting and unique concept than plain memes