Koi.rocks is a decentralized web application (DApp) powered by Koi, a protocol for information retrieval and publishing on the new web. Koi.rocks exhibits technologies made possible by the Koi Protocol.
The era of NFTs is upon us. Koi.rocks takes advantage of key Koi Protocol capabilities in order to provide novel functionalities for content creators in a web 3.0 environment.
Atomic NFTs & Permanent Storage
Thanks to the Arweave permaweb, koi.rocks makes use of permanent storage in order to facilitate the creation of Atomic NFTs— an NFT where the asset and its content exist within the same on-chain location. Minting or transferring digital creations to koi.rocks ensures that the NFT is a complete asset. This means that NFTs hosted on koi.rocks are not subject to the fragility inherent to prevailing platforms (marketplaces). The metadata associated with any koi.rocks-hosted NFT is not at risk of getting disconnected from the ownership contract on the blockchain. This innovation creates a concrete solution for hosting and storing NFTs.
Data and content published from and archived to the Koi protocol are always permanent and immutable. Koi.rocks is the application within the Koi ecosystem that demonstrates these qualities. Web 3.0 applications must take advantage of permanent storage to solve predominant issues in the current web 2.0 internet. NFTs purport true ownership of creations in a way that allows owners to capture more value from their work. Koi.rocks helps solve issues in hosting these creations so that the qualities which make NFTs valuable remain true over time.
Attention rewards are based on how much traffic (“attention”) any image or data receives, as measured by the Koi protocol’s gateway tracking function. By monitoring the amount of traffic moving into host gateways, koi.rocks displays the real time amount of “attention” given to any digital creation displayed on the site. By displaying the amount of attention given to the creations on the network, koi.rocks creates a leaderboard that contextualizes the success of projects based on how often they are viewed. This is a stark contrast to the commoditization of creation based on active bidding prices.
Beyond the leaderboard, koi.rocks helps cultivate attention by monetizing each NFT through the Koi protocol’s daily mint of 1,000 KOI tokens. The koi.rocks application is an early example of token distribution to content creators within the Koi ecosystem. The Koi protocol rewards anything archived to the Koi network with a proportion of KOI equivalent to the amount of attention it received in a 24 hour period. Koi.rocks is the first service to make use of the attention reward distribution.
Allowing NFT creators to earn on the amount of attention given to their projects further cements the asset qualities of koi.rocks hosted NFTs. Attention rewards via KOI are a new income stream on top of infinite and customizable transaction emissions made possible by ERC-721.
This experiment furthers the value capture innovations within the new web. Imagine your favorite artist receiving revenue every time you viewed his or her work within a free gallery.
Proofs of Real Traffic
Koi.rocks is the first Koi ecosystem application which makes use of PoRT, or Proofs of Real Traffic. Proofs of Real Traffic ensure that gateway tracking and subsequent attention tracking enabled by the Koi protocol are not taken advantage of by bad actors. NFTs hosted on koi.rocks are given “attention” when clicked. Gateway tracking via traffic log verification allows for the correct recording of attention given to hosted content. PoRT ensures that this system is not disrupted through spamming the network, or collusion of protocol participants in pursuit of disproportionate rewards. The intention is to gauge real traffic flowing into the gateways based on genuine interest in information hosted via the Koi protocol.
Koi.rocks leverages PoRT to maintain the integrity of attention rewards and leaderboard standing. In order to reflect actual public interest in these NFTs, the PoRT generates a hash which represents important metadata associated with any IP address that accesses a koi.rocks gateway. The generated hash forces network participants to expend work that is more expensive to falsify than the attention reward would be worth. This disincentivizes subversive entities from gaming the system.
Early implementation of the Koi protocol has generated open-source tools which help to build a more trustworthy store of human knowledge. Koi.rocks is the first public deployment of various technologies made available through this process.
Koi.rocks takes advantage of the Permaweb, Attention Rewards, and Proofs of Real Traffic, in order to incentivize the creation of Atomic NFTs and the use of the Koi protocol by digital creators. It establishes an experiment in the monetization of NFTs with new income streams provided by attention rewards, and secures the integrity of the system with PoRT.