Tendermint Ventures is thrilled to announce that we are incubating Pylons as our flagship NFT chain for the Cosmos ecosys...
Despite the hype around Web3—the technology for digital item ownership with non-fungible tokens (NFTs)—its potential is limited by its hostility to users. It’s confusing, requires obscure crypto tokens to use, and a degree in Computer Science to understand.
Mass adoption of Web3 tech can be facilitated with a truly user-friendly interface, but NFT blockchains so far cater to crypto enthusiasts—to the exclusion of everyone else. They fail at the three core values that inspired us to create Pylons: Performance, User Experience, and Cultural Integration.
It’s time to build a system with real usage by regular people. Pylons is an NFT blockchain that focuses on user and developer experiences first, and the internal crypto enthusiast market second. As the connective tissue of Web3, we’re making digital creation and ownership easy with our comprehensive tech stack—built to deliver long-term value.
Our mobile app integrates easily with Google and Apple Pay’s in-app purchasing, and our blockchain is exceptionally fast. Through them, we bring Web3 to users where they are: on their phones, with their credit cards.
The Wallet App
A beautiful, seamless experience for the art buyer and digital native. Buyers purchase directly from the app, using fiat (traditional currency) or crypto.
The Software Developer Kit (SDK)
A tool for building apps that interact with and connect to Pylons, supporting a range of developer needs. Simply put, almost anything that can be built on Web2 can be built on Pylons.
Flutter app for artists to create NFTs, compatible with the upload of dozens of file formats from users’ mobile devices. Pricing in USD and compatibility with in-app purchasing enables the largest possible reach for digital art.
Pylons Wallet has several thousand users, and our user base of developers, artists, and art buyers is rapidly growing. Feedback from the creative community in particular has been excellent, with enthusiastic requests for additional tools.
Based on this feedback, we’re designing a set of tools to push content to community members, including ads, a home page feed, and push notifications.
The Pylons community has something for everyone. Art on Pylons means everything from visual and audio to 3D models and books. Users can get involved with as many experiences as they like, sell the property they acquire, and mediate the whole experience through a delightful mobile app.
By protecting the user from the machinery of finance that permeates DeFi (decentralized finance), we can create a truly mass-market blockchain experience—and reach the next billion blockchain users.
Traditional blockchains charge so-called gas fees (transaction fees) for every transaction. Pylons goes beyond this model to natively collect fees from commissions, instead of by transaction. Our chain also has patent-pending native support for using 3rd-party attestations to authorize transactions, allowing users to buy digital items directly with fiat.
We’ve implemented native payment rails with Stripe, and Apple and Google’s in-app purchasing. And by using the attestation system for gating of transactions and cash withdrawals, we’ve dramatically reduced risk by shifting it onto trusted Web2 partners.
As a uniquely innovative Web3 venture, the vision and function of Pylons overlaps with several billion dollar markets, including free-to-play mobile games ($78B), online ticketing ($28B), and fine art ($65B).
Comparable platforms in the digital item market saw massive 2021 revenues, including $1.3B for Axie Infinity, $365M for OpenSea, and $1.9B for Roblox.
Our freemium business model (commissions instead of gas fees), has better scaling efficiency and cheaper transactions than other blockchains due to a faster and computationally less expensive transaction model.
Many other chains now advertise themselves as gas-free, and fake it with rebates. Our response? To leverage our head start with our patent-pending technology and beyond-gas-free model.
Pylons’s vision is to combine the power of art and technology as a force for positive progress. It’s why we’ve built the next generation layer 1 blockchain for all: Pylons is the infrastructure that could power the future of Web3.
We are seizing our moment. We already have the technology, now we’re ready to aggressively expand our marketing and business teams while continuing to polish the user experience.
Pylons has raised over $3.4M to date. With these funds, we’ve built the signature technology stack needed to make freemium blockchain a reality: our truly gas-free chain, highly user-friendly mobile wallet, set of native fiat onramps to allow transactions in fiat currencies, and mobile NFT minter that can price in fiat or crypto.
Our tech has served real artists and buyers. It’s validated and ready to scale.
Michael Sofaer, CEO
As Former Chief Architect of Tradehill—the first compliant Bitcoin exchange in the US—Michael personally designed the Postgres-based trading engine, the JSON API, and the integrations with Bloomberg and IAFCU. He was CTO of BKCM and led the initial investment into Ignite and Cosmos. He is committed to building blockchain products to onboard the whole planet.
Josh Kershner, General Counsel
Josh Kershner worked for the Social Security Administration and Department of Justice for a decade until joining Pylons in March 2022. He believes the future of Web3 depends on providing a mass market audience with safety as they join the blockchain ecosystem. He works with the engineering team to ensure Pylons is regulatorily compliant.
As Web2 businesses begin to slow down and Web3 ventures begin to accelerate, Pylons has the potential to emerge as a leader in the space.
Pylons has several key tech innovations separating us from the rest of Web3—plus broad appeal and mitigated risk. Our first-mover advantages include using a commission model instead of gas fees, natively accepting fiat payments instead of crypto, and doing so on mobile devices instead of a web browser.
Someone is going to make a lot of money in Web3 without resorting to rug pulls, hacking, or DeFi—and Pylons is well positioned to be that someone.