Interview - Cardano NFTs #052: JamOnBread

Original Placement:

Today’s Cardano NFT project is an NFT marketplace that can be perceived a bit like a CNFT aggregator that wants to elevate Cardano above other blockchains: JAM ON BREAD.

The previous guest was a file sharing service that leverages web3 components like wallets, and crypto assets to be used as keys to access confidential data.

This initiative is a point of reference for NFTs on Cardano and every week or two we will invite someone to answer some questions and give us an update directly from within the Cardano community.

Hey, glad to have you here. Please introduce your team, where are you from, what are your backgrounds?

We’re blockchain enthusiasts from the Czech Republic. We all joined the industry first as investors in 2017 or earlier and some of us have been building in the bear market in 2018–19. We are closely tied to Cardanians and only last year we acquired JamOnBread after it was initially developed by Vacuum Labs.

Our backgrounds differ a lot. Some came from TradFi, some from IT and some of us even from the Education industry. On board we even have a head coach of the national sport team, former police officer and an artist with a major role in media. I’m looking forward to seeing how diverse our team is going to be by the end of this year.

What is JAM ON BREAD? How do you differ from other NFT marketplaces on Cardano?

First of all we are building for the future of Cardano where the third-generation blockchain is the preferred priority for DeFi and NFTs thanks to its technical advantages and in order to succeed we need to prove to other blockchains that Cardano has the community to take it there.

With such a goal in mind we are launching a series of our Smart Contracts which are going to incentivize multiple entities to participate and share the NFT liquidity. You can have marketplace A which has listed one asset and the same asset can be displayed and sold on platform B while both A and B share the revenues.

We also have the first Smart Contract built-in on-chain affiliate program. So now you have also person C and D who play their part in making the space more liquid. Most importantly, as a user you don’t need to think where to list or trade your NFTs. You just list it on one platform which you like the most and you instantly get the liquidity from the whole CNFT space (provided that both platforms use JamOnBread’s Smart Contract).

You can perceive us a bit like a CNFT aggregator although we are going one step further by sticking this Smart Contract logic into it so it can become CNFT industry standard. We believe that’s what is going to elevate Cardano above other blockchains despite its current low volume. We want to see projects on other blockchains to look at Cardano as the fair space that has the technological advantage to make the DeFi and NFT space truly decentralised.

The user interface of JAM ON BREAD

There are many critiques about development on Cardano. How was your experience? What are eUTxO and formal methods? What advantages do they bring?

First of all, it must be said that development on any SC platform is challenging in the context of reliability and security. Developers need to learn how to work with the eUTXO model and it might be a bit more difficult in comparison with the account-based model. Each platform has its own specifics and for experienced developers, this is not an obstacle.

The advantage of Cardano is that a smart contract is not required for token minting. All tokens are native and basic operations are performed by a protocol that treats tokens the same as ADA coins.

Cardano has the advantage that fees are predictable and local verification is possible. If a transaction passes locally, it is almost certain to go to the block after submission**. The UTXO model has huge potential in terms of parallel processing** since Cardano does not have a shared (global) mutable state but developers have to deal with concurrency.

As for formal methods, I would say that their use is an option, not a necessity. You can create a highly reliable and secure application on Cardano by following standard software development processes. If the team decides to apply formal methods in development, using the Plutus platform has an advantage over EVM platforms.

Currently, it is possible to write smart contracts for Cardano using Aiken, and it is anticipated that in the near future, languages such as Marlowe, Eopsin, and Helios, among others, may also become available as alternative options for developers who wish to avoid Plutus/Haskell.

JAM ON BREAD wrote a guide to the Cardano NFT ecosystem

What does the future hold? Where do you see JAM ON BREAD in 1, 2, 5 years respectively?

This year we just want to make sure Cardano folks can understand what our mission is and that sharing the liquidity is going to take us all further. A rising tide lifts all boats so as long as the community understands that and gets on board with this long-term philosophy we can all see Cardano at the forefront of the NFT industry in 2–3 years already.

In 2–3 years we are expecting a large number of new projects adopting the Cardano way and we will be ready for that. Seamless minting experience for both creators and investors and marketplaces that are fast and compete with its features while still decentralised. In those few years we also want to see simple pool delegations, NFT backed p2p loans and generally more DeFi implemented into the NFT space.

The technical possibilities are amazingly potent and there is so much to gain when the interface is simple and users can do everything with one click of a button. I’m speaking in plural because it is not a one man job. Only tens or hundreds or entities cooperating together can take us there.

JamOnBread has the ambition to lead those efforts and within 5 years we have the ambition to be the leader in the space but only if the space will desire us to do so. We’re more than happy to see Cardano Foundation and IOG helping us in those efforts “wink wink”

Thank you kindly for your contribution. Any closing words? Where can people find you?

JamOnBread is now primarily a marketplace but in the long run we plan on being an ecosystem of services where you can use the full potential of DeFi and NFT technology. Although it is challenging to launch a new project in this environment we believe that the community is going to support our efforts and there will be a growing number of assets listed on our platform (and in turn displayed and traded on other platforms).

With that in mind I would like to encourage all Cardano projects to get in touch with us and discuss how we help each other, connect our services and improve the Cardano space.

Disclaimer: The opinions and views of the people interviewed are their own and do not necessarily reflect those of the Cardano Foundation or IOG. Moreover, this content is for educational purposes, it doesn’t constitute financial advice.