What is Hic Et Nunc?

What is Hic Et Nunc?

Hic Et Nunc (HEN) is a decentralized NFT platform based on the Tezos blockchain, aiming to provide a space for artists and collectors to create, trade, and showcase digital artworks. The platform is known for its low cost, environmentally friendly, and efficient trading experience, attracting a large number of creators and investors.

The development process of Hic Et Nunc

Hic Et Nunc was founded in March 2021 by Brazilian developer Rafael Lima, aiming to provide a low-cost, decentralized NFT trading market for artists and digital content creators. Compared to NFT platforms on Ethereum (such as OpenSea), Hic Et Nunc uses the Tezos blockchain to reduce transaction fees and minimize environmental impact. Although Hic Et Nunc temporarily closed in November 2021 due to technical and management issues, the community quickly took over and developed derivative platforms like Teia, continuing the spirit of Hic Et Nunc.

How Hic Et Nunc works

1. Register and Connect Wallet

To use Hic Et Nunc, you first need to have a Tezos wallet (such as Temple Wallet or Kukai Wallet).

• Download and install the Tezos wallet

• Buy and deposit some XTZ (Tezos coins) to pay for transaction fees

• Connect your wallet to the Hic Et Nunc platform

2. Forge NFT

The process of issuing NFTs on Hic Et Nunc is called Minting, and the steps are as follows:

• Upload digital art works (JPG, MP4, HTML, etc.)

• Set the price, description, and tags of NFT

• Confirm the transaction and pay the XTZ fee to complete the minting process

3. Buy and sell NFT

• Buyers can purchase NFTs on Hic Et Nunc through Tezos (XTZ)

• Sellers can set the price of NFTs, and when the NFT is sold, the proceeds are directly deposited into the wallet.

• Some NFTs support secondary market trading, allowing creators to set royalties to ensure a certain percentage of profit from each resale.

The Impact of Hic Et Nunc on the NFT Market

Although Hic Et Nunc does not have the huge trading volume like platforms such as OpenSea and Blur, it brings diversity to the NFT market, especially for independent artists and environmental advocates. Hic Et Nunc provides an ideal NFT ecosystem, with many well-known artists and creators choosing to release their works on Hic Et Nunc, such as Mario Klingemann (AI artist) and Joanie Lemercier (digital artist), further enhancing the platform's reputation.

(The portrait of the dictator "DECENTRALIZED" drawn by Zaibatsu and the artist community Hic Et Ubique; Source:@mashbean)

Summary

Although Hic Et Nunc is not the highest market share NFT platform, its advantages in low cost, environmental friendliness, and decentralization make it a favorite platform for many artists and collectors. Although the original platform has been closed, its concept has permeated the development of the NFT market, and it is promoting a more fair and open NFT ecosystem through community involvement.