The Solana Foundation has launched a competition for emerging digital artists, the NFT Showdown, in an effort to upgrade the quality of new NFT projects.
Entrants must submit business ideas and developments for collections of non-fungible tokens that create “real value” within the fashion, entertainment and gaming industries.
Austin Federa, head of strategy at the Solana Foundation, commented that the competition is “designed to encourage a change in approach to business planning before launching a collection.”
Applications will open on June 10th, and the company will select ten winners to receive recommendations from Solana and be consulted by experts in the promotion of non-fungible tokens.
This comes after the introduction of state compression technology by Solana, which significantly reduced the costs of on-chain operations, including the creation of NFTs.