Intro to BLASTR | Bankless

Blast is currently the only Layer 2 (L2) that offers native yield via ETH staking and real world assets (RWAs).

The idea? Holders of ETH and stablecoins on Blast automatically earn interest simply for holding their assets on the network. 

One project that’s built an interesting creator monetization avenue around this model is BLASTR, a platform that makes it easy to create and collect “unruggable” NFTs.

That’s because BLASTR integrates with Blast’s yield system to offer a secure and profitable environment for NFTs. Here’s how it works:

1. Collection Setup: Creators can set up their NFT collections by defining mint prices, supply, and time lock durations. Each collection launches its own ERC721 smart contract, ensuring DIY control over funds and decisions.
2. Minting Process: When an NFT is minted, the ETH used is locked in the smart contract for the specified duration. This ETH generates yield through Blast’s native yield system.
3. Refundable NFTs: Post-lock period, NFTs can be refunded. If a holder opts for a refund, the NFT is burned, and the ETH is returned.
4. Revenue Generation: Creators earn BLAST native yield from the ETH locked in their contracts, not to mention Blast Points and Blast Gold. For example, BLASTR’s calculator estimates ~22.22 ETH in yearly revenues for a 5,555 collection minted at 0.1 ETH a pop.

That said, collectors can also earn Points and Gold rewards by collecting NFTs on BLASTR. Simply browse the existing collections, find one whose price and benefits suit you, and then mint your desired amount.

As mentioned before, the ETH you use for minting will be locked, accruing yield over time for the NFT creator. Once the lock-up period ends, you can keep your NFT or get a refund, ensuring a risk-free collecting experience.

On the flip side, creating an NFT collection on BLASTR is also straightforward. It just takes a handful of steps:

1. Initiate Your Collection: Connect your wallet on blastr.xyz/create and start a new collection by filling out the main details such as name, description, mint price, and supply.
2. Customize: Stylize your collection with images, banners, and social media links as you see fit.  
3. Prep Your Contract: Define your smart contract details and prepare your artwork. BLASTR has created a helpful guide on uploading art to IPFS if you need help here. 
4. Finalize: Customize your public and private minting phase settings and then press the “Deploy” button. 
5. Launch: Once deployed, your collection page will be live. Here you can edit your collection as needed or press “Launch public mint” to kick off your drop. Note, the first 5 minutes will be reserved for BLASTR Keys holders. 

Looking ahead, if BLASTR has continued success, it could inspire more platforms to adopt similar models, i.e. integrating native Blast yield into their apps.

In the meantime, BLASTR’s use cases are wide open, from DAO memberships to onchain subscription services, so keep an eye on it as a novel onchain way for creators to monetize their work.