Solana Foundation invites aspiring digital artists to a competition called 'NFT Showdown' to raise the standard of new non-fungible token (NFT) projects.
As part of the NFT Showdown, creators must present their business plans and designs for NFT collections that offer 'true value' to the fashion, entertainment and video game industries.
Austin Federer, Head of Strategy at Solana Foundation, commented:
"We created this competition to promote a different way of developing a business plan before launching an NFT collection. Participants need to think about what it takes to triumph in the long term as an NFT brand."
Applications will be accepted from 10 June, after which ten winners will be chosen who will receive advice from Solana.
Leading experts in NFT promotion will advise first-class projects on how to achieve "long-term prosperity".
Solana developers have recently demonstrated their state compression technology, which markedly reduces the cost of on-chain transactions, including NFT generation.
Recall that the Helium wireless network switched to Solana blockchain in April, and has since created almost 1 million NFTs.
