As FLOW tokens become more widely distributed, we compiled a list of amazing experiences across the ecosystem that you can use FLOW as a payment option today, as well as what the future looks like as the hundreds of dapps in development continue launching, with some drops happening as early as next week.
In addition to the below, NBA Top Shot and other Dapper Labs-created NFTs will also be purchasable for $FLOW soon as well: Dapper wallet is enabling withdrawals into self custody / non-custodial wallets in the next several days, allowing Top Shot users to trade their NFTs on third party marketplaces that leverage FLOW directly.
This is all part of an ongoing process to decentralize all aspects of the Flow blockchain and community. Over the previous weeks and months, Dapper Labs has reduced its operation of consensus nodes on Flow below 33%. Permissionless access nodes are also now in operation, giving any developer the ability to spin up a Flow node. In addition, security review from Dapper Labs is no longer required for deployment to mainnet: instead, a number of firms including Quantstamp will provide reviews to the community in collaboration with the Flow foundation.
Experiences currently live where you can spend FLOW tokens
The following platforms are ready to accept FLOW as payment right now!
VIV3: VIV3 is the first open marketplace launched on Flow. Home to projects like Ben Mauro’s Evolution, and the secondary marketplace for projects like Canes Vault, Dark Country, MotoGP Ignition by Animoca Brands, and more.
Versus: Versus is the premier auction house on the Flow Blockchain. Since its launch, Versus has hosted many extremely talented artists such as Ben Mauro, Bryan Brinkman, Ekaitza, Alotta Money, and many more.
Eternal: Eternal partners with top streamers and esports players to turn their most epic gaming highlights into collectible "moments" for fans to collect and trade.
Chainmonsters (FUSD, FLOW via BloctoSwap): Chainmonsters is a massive multiplayer monster tamer RPG that enforces scarcity and encourages the player-driven economy through resource-based gameplay elements.
Platforms launching with FLOW payment options in the near future
Have you been keeping up with Flow Fest, the first-ever NFT festival #onFlow? Here’s a sample of hot drops over the next month. Sports memorabilia, gaming experiences, fashion, music, and everything in-between.
RacingTime (drop date:10/21): RacingTime is the next-gen AAA racing game built on Flow. In addition to the instant action feedback of drifting and nitro acceleration, RacingTime also offers a unique gaming experience that involves accessory collecting, car customizing, and NFT trading.
The Fabricant (drop date: 10/25): The Fabricant launched its digital fashion co-creation experience The Fabricant Studio, which allows anyone, anywhere, to create, mint, and trade super exclusive, couture-level digital garments as NFTs.
Matrix World (drop date: 10/26): Matrix World is the first-ever Metaverse bridging Ethereum and Flow ecosystems. Super scarce land plots will be dropped on this date.
Jambb (drop date: 11/3): Jambb is launching the world’s first comedy collectible platform, empowering fans to acquire and share epic content in the form of their favorite jokes, sets, specials, and memorabilia.
Melos (VIV3) (drop date: 11/4): A destination for co-creating, discovering, and collecting original music on Web3.0.
Ballerz (NFT Genius) (drop date: 11/5): Ballerz is a basketball-inspired generative pfp set launching on Flow. Collect your favorite teams and jersey numbers, and show everyone you're a true baller.
TuneGO (VIV3) (drop date: 11/18): TuneGO aims to provide musicians a unified platform to secure their content, protect their creative rights, mint NFTs, and distribute to streaming platforms. There will be an exclusive 1/1 Method Man unreleased single.
Voxel Knight (drop date: 11/28): Voxel Knight is a universe with expandable parallel worlds, filled with astonishing scapes and structures, containing thousands of vivid characters who have their own stories.
KLKTN (drop date: 11/30): KLKTN exists at the intersection of creativity and technology, enriching connections between artist and fan, and bringing the best of music’s experiential culture into the digital world.
How does FLOW work?
FLOW is the native token that drives everything on the Flow blockchain. Even though we recommend apps to provide FUSD or credit card payment options for users, $FLOW is necessary for every network operation from transaction fees to opening new user accounts.
Staking & transaction fees: FLOW starts inflationary, becomes fixed supply over time
If you have FLOW tokens, you can stake them via Flow Port to help secure the network and earn rewards. Today, most staking rewards come from the Flow protocol minting new tokens (“inflation”). Transaction fees change this: fees are paid directly to nodes and reduce the inflation the protocol has to create by the same amount. At a sufficient scale, inflation can be reduced to 0% and FLOW can become a fixed supply cryptocurrency.
Storage deposit: more FLOW will be locked as new accounts are opened
Paying for on-chain storage is an untested problem at scale. Most legacy networks talk about the idea of “state rent”, Flow has a more elegant solution: minimum account balances, or storage deposits. In short: every user account on Flow will require a minimum balance of $FLOW to keep open –– this balance corresponds to the storage space the account can take for tokens, NFTs, and other user data. More users = more locked FLOW.
Medium of payment and building block for DeFi-on-Flow
In addition, we see clearly that as new users get more familiar with the platform, their preferences change and they begin preferring $FLOW as a medium of payment and value storage. As a result, more advanced applications on the Flow network tend to use $FLOW exclusively, a choice that we expect to become more popular as the $FLOW token becomes more widely distributed and different kinds of “decentralized finance” products begin launching on Flow.
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