Reef, a layer 1 Substrate-based blockchain for DeFi, NFTs, and gaming, announced today the establishment of a new NFT division aimed at interacting with graffiti and electronic artists while also scaling up its blockchain to make it more NFT-friendly.
Reef has been quietly working behind the scenes for the past two months to get its contribution to the NFT landscape off the ground. They’ve brought on Philip Galaviz, a well-known personality in Denver’s music and art scene, as Head of NFT.
Philip has collaborated with Digitally Imported Radio, Global Dance, and a number of electronic music artists, and is currently developing an IRL cultural arts and music program.
Philip will lead Reef’s business development and expand the company’s capabilities to a wide range of artists, starting with electronic and graffiti artists and record cover designers, as Head of NFT.
With a packed beginners workshop, metawall, NFT contest, and introductions to graffiti artists like TukeOne, Mike Graves, and Emit One DF, Philip and the Reef team pushed the first stage of their NFT wave at ETHDenver.
Furthermore, Reef recently announced its first round of grant recipients, with three NFT development projects receiving a portion of the $210,500 in funding. Kanaloa, Dimension 11 Studios, and Oyster are among the companies that will be developing marketplaces and other NFT dApps on Reef.
Reef’s CEO, Denko Mancheski, stated,
“I firmly believe we have identified one of the most impactful engagements we could make this year that will help cement Reef’s future as a blockchain for DeFi, NFTs, and gaming. Phillip is a well-known industry veteran with deep connections in the music and art world, and we’re working with new NFT projects to make Reef NFT-friendly and accessible to everyone.”
Reef has made significant progress in updating their blockchain in the previous two weeks. ReefScan V2 was released, as well as a $REEF Community Staking Bond. Members of the Denko and Reef teams will also be in Dubai at the end of the month for Binance Blockchain Week.
Reef’s Substrate-based layer 1 blockchain with smart contract functionality offers an intuitive user experience, high scalability, and low fees, helping the ecosystem to be a go-to platform for NFT projects. Reef is the most advanced EVM-compatible blockchain with smart contract functionality. Based on a Nominated Proof-of-Stake (NPoS) consensus mechanism, the network offers low fees and scalability, as well as a myriad of features, including native token bridges, on-chain governance, recurring payments, and much more. Eventually, the platform will also support an additional virtual machine that will allow developers to write code in several different programming languages.