24 Mar 2023
Gamma.io on Stacks: Excellence in Action
Gamma is the largest NFT/Ordinal marketplace on Stacks, and for good reason. Gamma sets the bar high for the Stacks ecosystem, read on to learn how they manage to drive adoption in this quickly moving space.
After being immersed in the crypto space for a while, you begin to learn a bit. One of the first things that you notice is how fast things move around here. Even the market cycles in crypto take place at blinding speed relative to the traditional markets. To be successful in crypto means rapidly adjusting to new technological breakthroughs, while delivering the best product to your customers. In order to do this you need a well rounded team, a team replete with visionaries, highly skilled front end and back end coders, and solid community managers. This is the winning formula.
There are many teams in the Stacks ecosystem that operate at this high level, and today I am going to tell you about one particular team that personifies excellence in this space.
Today, I am going to tell you about Gamma.
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Jamil, the founder of Gamma, was an early adopter of the STX, this is because he understood Bitcoin, and understood Ethereum (which is to say smart contracts). Upon learning about STX, and the ability to add smart contract functionality to Bitcoin, his entrance to this space was inevitable. Not long after he started learning about NFTs, Jamil ran into a frustration born out of not being able to easily view the NFTs in his burgeoning collection. His solution to this frustration evolved into what is now the largest, most successful NFT marketplace on Stacks.
One of the pains of being early to anything in crypto is that if you aren’t technically proficient, you can find yourself missing out on the best opportunities. The faster that a team can solve this problem for retail, the faster that sector grows, and more opportunities are born. Few teams are able to keep up with Gamma in this regard, and it is obvious to the observer that Gamma is still driven by the desire to solve such problems.
The first time that I noticed this was the speed at which Gamma.io was able to launch a BNS marketplace. This occurred late last year after an influx of new people into the Stacks ecosystem discovered BNS (the .btc handle), and started trading them OTC. Within days Gamma had added a trustless way for people to trade BNS names via their marketplace. Not only did this become a massive win for Gamma, but a massive win for the entire Stacks ecosystem.
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Just this last week Gamma.io became the first exchange to launch a Bitcoin ordinals marketplace capable of making trustless swaps in a retail friendly way. Just before that, Gamma was able to provide the community and creators with a user-friendly way to inscribe their own ordinals. This is fast, even for crypto.
According to Nick Sainato, Gamma’s co-founder, the Gamma team started running test before the first 1,000 inscriptions (at the time of this writing there are over 500k inscriptions, and growing fast). One week later Gamma launched its inscription service, all the while working on their user friendly, trustless marketplace.
What started as a convoluted process to make or even buy an inscription, has been simplified to the point that anyone who has used a Metamask or Hiro wallet can create and trade inscriptions.
This is the answer that I received from both Nick and Brett aka Eliherf, the head of Community Growth at Gamma. The Gamma team is lean, scrappy, highly skilled, passionate, and united in their common goal of building the best marketplace. In addition to this, Gamma is known for its massive support for NFT artists. While other marketplaces are figuring out how to cut out artist royalties, and otherwise maximize profits. Gamma supports royalties for artist, and even went so far as to eliminate any service fees for those who wish to create their own inscriptions. At Gamma the user only pays for the Bitcoin network fee. This will become massively important later, as Bitcoin fees become more pricey due to demand for block space.
It is clear to the observer that Gamma’s commitment to problem solving, and user adoption is the key to their massive successs. The lesson is clear: Success is defined by execution and passion. Thankfully Gamma is not the only project in the ecosystem that embraces this ethos, but they definitely set a high bar for everyone else. This, dear reader, is one of the primary reasons why you should stay informed about the projects, teams, and visions that are to be found in the Stacks ecosystem.
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It is easy to feel like the majority of the opportunities in crypto have passed you buy if you are new here. The reality is that this could not be further from the truth. The fact of the matter is that if you are here now, you are still quite early. The vast majority of humanity has no idea what an inscription is, much less what being able to place information on the immutable Bitcoin blockchain means for humanity. You are in the right place.
Thank you so much for reading, be on the lookout for the next article. Until then, this is your Captain signing off.
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