This platform was created as a direct competitor to OpenSea, the biggest marketplace for Ethereum and Polygon based NFTs. Just like OpenSea, Origin allows for anyone to create their own digital assets on both chains, dictate how many they will ever be and sell them.
The main difference is that while OpenSea is a marketplace where one can search and find all sorts of NFTs, it may be harder for someone starting out to stand out and get discovered. Origin allows for each user to create their own storefront (mine is artoftomas.story.xyz).
This is what first attracted me to the protocol, as I was looking to create a way to display my work and sell it on one platform. The second great thing about it is that if you agree to get a percentage of each sale in the OGN coin (15%) you actually get to keep 100% of the sale. Most platforms would take a cut from your sale to fund their operations, so far, this is the first platform I see that allows you to keep all the profits.
It is not that easy though, the OGN tokens earned have a six month locked period. So while it is true that you get 100% of the sale, not all of it will be able to be spent straight away. You can choose not to receive any OGN token, and then the platform would simply take a small percentage of your sale like all the others. It is up to everyone to choose what they would like to do.
Getting the token has its own privileges (which I’ll write more about in a seperate post), mainly governance and the ability to stake and earn.
The platform allows you to create different collections, all you need is to pay the transaction fee for it to be added in the blockchain. Then, every time you create an asset in that collection you pay no fee, the asset won’t actually be minted until someone buys it, a sort of “mint on demand” if you will.
The fee for each minting is automatically reduced from the payment the buyer makes. So for the artist, the only fee comes when creating the collection in the first place. This is perfect for those who are getting started and do not have large funds to begin with (like me).
Overall it is a great platform and I enjoy using it. The storefront is extremely easy to set up and the assets are quick to mint. You can have it ready and running in a matter of minutes. The only drawback to having your own store is that you won’t get any “Free traffic” and it is up to you to make people aware of it. However if you already have a social media presence or a website with regular traffic, it is a great way to add NFT to your platform without much hassle. Either if you are only getting started or looking for a more professional presentation, I recommend giving Story on the Origin protocol a look.
Thank you and I hope this was helpful to you :)