Exploring Crypto & Web3 | Researcher | Threads
Abuja, Nigeria
Joined October 2011
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OC Crypto retweeted
Most NFT collections eventually reveal everything. The artwork, traits, rarity, and other details become visible to everyone.
@FungoLabs is taking a different approach with its Genesis NFTs, where some information can remain private even after minting.
Each Genesis NFT has two layers called The Look and The Essence.
The Look represents the NFT's artwork and visual traits. When someone mints a Genesis NFT, its artwork stays encrypted, but the owner can privately view it whenever they want.
They can choose to publish the artwork for everyone to see or keep it sealed. There's no requirement to reveal it, and a sealed NFT can still be transferred or sold.
Once the artwork is publicly revealed, that decision is permanent.
The Essence works differently.
It contains the NFT's hidden class, four stats, and element. These attributes remain encrypted on-chain, even if the owner decides to reveal the artwork.
Only the current holder has permission to access this information privately.
Fungo uses Zama's Fully Homomorphic Encryption (FHE) technology to make this possible. It allows smart contracts to perform calculations on encrypted information without exposing the underlying values.
This could become particularly useful for NFT gaming.
Imagine two characters competing using hidden stats. A smart contract could calculate the outcome without publicly either character's attributes.
Fungo has already included a game built around Genesis NFTs in its roadmap, although that part is still planned.
I like the distinction between owning an NFT and deciding how much of it the public gets to see.
The artwork can become public, while the underlying attributes stay private.
It's a different way of thinking about NFT ownership, and I'm interested in seeing how Fungo develops these features beyond the Genesis collection.
OC Crypto retweeted
Most NFTs have a funny problem
Everything is public
The image, the traits, the rarity. Anyone can look at it on-chain.
@FungoLabs is trying something different. Encrypted NFTs on Ethereum.
Imagine owning a collectible where the art and traits stay private on-chain, and only you can see them.
Funny enough, that's possible because of FHE (fully homomorphic encryption), tech from Zama. In simple words, it lets a network work with data without ever seeing what's inside it.
Why does that matter?
Because privacy stops being an afterthought. It becomes a feature of the NFT itself.
And Fungo isn't stopping at a collection. A launchpad and a game are on the roadmap too.
I'm not saying it's guaranteed to work, but It's early.
But it's one of the few NFT ideas lately that made me stop and think "wait, that's actually new"
Would you own an NFT nobody else can see?
OC Crypto retweeted
About the $FUNGO NFT Mint
@FungoLabs is planning to hold an encrypted bidding auction by @zama FHE on November 5🔥
✅Mint Supply
• 500 free NFT for WL holders
• 2,500 NFT for general auction
✅Betting currency: cZAMA
✅ How can you acquire NFT? 👀
① Select the number of NFT you want
② Submit your bid price in cZAMA
③ Bids remain encrypted until the auction ends
④ Rank the bids from the highest to the lowest
⑤ The minimum winning bid amount determines the final price.
And everyone who wins pays the same final price
✅ What about bidding?
• If above the clearance price:
Receive the full amount requested
• In the case of the settlement price:
There is a possibility that the allocation will be proportionally distributed
• If below the clearance price:
Unable to purchase NFT, cZAMA is being refunded
⚠️ Important Notes
• Once a bid is placed, it cannot be retracted
• A small non-refundable bid fee applies
• Any unused cZAMA will be refunded
• NFT are minted with a sticker, allowing the owner to control their display
Zama's FHE technology: an intriguing real-world use case that goes beyond the usual crypto story
Due to encrypted bidding, participants cannot view each other's bids before the auction ends.
I can't wait for tomorrow, November 5 😌
How the Genesis sealed-bid auction works, explained with an example 👇
Imagine only 3 NFTs for sale. Minimum price: 500 cZAMA (example only).
4 people bid 1 NFT each:
→ A: 3,000
→ B: 1,500
→ C: 1,000
→ D: 500 (the minimum)
The top 3 bids win: A, B and C.
All winners pay the same final price, the lowest winning bid: 1,000.
→ A pays 1,000, gets 2,000 back.
→ B pays 1,000, gets 500 back.
→ C pays 1,000.
→ D bid the minimum, gets no NFT, gets 500 back.
Lesson: bidding the minimum doesn't mean you buy at the minimum. Bid what it's worth to you, you'll only pay the final price.
OC Crypto retweeted
@FungoLabs A sealed auction paid in public money would leak the very thing it tries to hide.
That is why the Genesis public sale runs in cZAMA, Zama's confidential token, rather than plain ZAMA or ETH. Bids stay encrypted, and the currency carrying them does not expose the bidder's hand before the result.
The mechanics are already known: highest bids win, all winners pay the lowest winning bid, excess bids are refunded, and a bidder at the minimum who does not win is also refunded. What cZAMA adds is the missing half, a payment layer that matches the auction's privacy.
To get there, a buyer buys ZAMA, withdraws it to an Ethereum wallet, converts it to cZAMA through the Zama App Shield feature, and keeps ETH aside for gas. It is an extra step, and that friction is the point. Privacy that is free usually turns out to be fake.
An encrypted NFT sold with transparent money would be a sealed box with a price tag on the outside. Fungo chose to seal the money too.
OC Crypto retweeted
🦇 Day 3/3: One last hidden CMC logo, where is it?
How to enter:
🔹 Follow @CoinMarketCap and RT.
🔹 Submit this form → bit.ly/47EpUBS
Final 5 winners. Last chance to enter!
OC Crypto retweeted
👻 Day 2/3: We're back, find the CMC logo!
How to enter:
🔹 Follow @CoinMarketCap and RT.
🔹 Submit this form → bit.ly/47EpUBS
5 more winners today. Look closely 🔍
OC Crypto retweeted
🎃 Day 1/3: The CMC logo is hiding somewhere in this scene. Can you find it? 👀
How to enter:
🔹 Follow @CoinMarketCap and RT.
🔹 Submit this form → bit.ly/47EpUBS
5 winners today. Happy hunting 🔦
OC Crypto retweeted
signups increased quickly!
90 people are already in and crazily testing every day the product we have been building in silence for 2 years.
We can’t let everyone through at once, so… we built a door.
Joinwaitlist [.] xyz
➡️ Grab your position. You’ll get a referral link; every person who uses it moves you up.
➡️ Reply with your position card. I’ll take three of you and put you on spots 1, 2 and 3.
➡️ If you’ve got a promo code, use it. Some codes bump you harder than others.
We’ll open the thing we have been sitting on in cohorts.
Soon™️!
OC Crypto retweeted
this is blowin up our db
90 people are already in and crazily testing every day the product we have been building in silence for 2 years.
We can’t let everyone through at once, so… we built a door.
Joinwaitlist [.] xyz
➡️ Grab your position. You’ll get a referral link; every person who uses it moves you up.
➡️ Reply with your position card. I’ll take three of you and put you on spots 1, 2 and 3.
➡️ If you’ve got a promo code, use it. Some codes bump you harder than others.
We’ll open the thing we have been sitting on in cohorts.
Soon™️!
OC Crypto retweeted
90 people are already in and crazily testing every day the product we have been building in silence for 2 years.
We can’t let everyone through at once, so… we built a door.
Joinwaitlist [.] xyz
➡️ Grab your position. You’ll get a referral link; every person who uses it moves you up.
➡️ Reply with your position card. I’ll take three of you and put you on spots 1, 2 and 3.
➡️ If you’ve got a promo code, use it. Some codes bump you harder than others.
We’ll open the thing we have been sitting on in cohorts.
Soon™️!
OC Crypto retweeted
Tokenized stocks moved $28.7B last month, up 421%.
No other consumer asset comes close.
Equities got there first because the rails already existed.
Cards, watches, and property are next in line, waiting on a venue.
Which one should be brought on-chain next?
50%Trading cards (TCG)
15%Luxury goods
26%GPU compute
10%Music royalties
448 votes • Final results OC Crypto retweeted
Ink Ape Whitelist is OPEN
Apply : ink-ape.xyz/
You have 24H to apply
Drop your wallet 👇
OC Crypto retweeted
Sight is going live in beta.
We’re opening access to early users.
Active users will earn WL spots for the Genesis NFT.
Join the quest: quest.sighthood.com
OC Crypto retweeted
what's the future we should build towards for prediction markets? it’s def not increasing the number of humans trading.
it’s when ai agents become the dominant liquidity and information providers.
imagine humans becoming the residual edge or the noise. markets stopping to be human coordination tools and starting to be computational consensus engines running 24/7.
evolution
OC Crypto retweeted
prediction market traders - which kind of content do you like consuming?
53%deep/architectural pieces
47%current happenings
51 votes • Final results OC Crypto retweeted
prediction market dreamers are dreaming this, but it wont come true:
the dream being: the information stack inverting - markets stopping to react to news. news starting to react to markets.
why this dream wont come true: because, when money is involved, hedging is inevitable and the signals are polluted.
this is why a points-based prediction market, game theoretically designed to incentivize truth can make this true.
basically take the money out of the equation to get truth back in the equation.
OC Crypto retweeted
this boggled my mind last month and I have been thinking about this ever since.
so, in the last seconds of a short duration polymarket bitcoin bet, if the bet is still close, some traders suddenly buy or sell a lot of bitcoin. trading jumps & it becomes easier to buy and sell bitcoin right then.
but right after the bet ends, the bitcoin price often moves back.
one of the clearest patterns in polymarket’s short-term btc markets shows up off-platform.
across ~11.8k polymarket btc up/down cycles, binance spot volume jumped into the close when the polymarket contract was still trading like either side could win.
when the contract was already priced away from 50/50, the burst mostly vanished.
1/8
OC Crypto retweeted
Prediction markets are not the future of betting.
A points-based, (and hence truth-incentivized and not hedge-polluted) prediction market is the first successful attempt to make the entire civilization keep a running, weighted score of how well it understands itself.
News media will become downstream of that score.
OC Crypto retweeted
I have been tweeting more these days and my follower count is increasing at the slowest pace.
what on earth.