GoMint is a digital content and eventually real-world asset tokenization and monetization engine that runs on Hedera Hashgraph.

1,000+

non-fungible tokens (NFTs) minted on GoMint

$37k+

in tokenized value

$1 USD

fee paid in hbars to mint an NFT

“Almost every artist I speak to who wants to launch their portfolio on GoMint highlights the ecological credentials of Hedera vs the competition.”

Peter Uliano

Co-Founder & CMO, GoMint

Industry

Media

Use Case

Asset Tokenization

Overview

GoMint is a digital content and eventually real-world asset tokenization and monetization engine that runs on Hedera Hashgraph.

Challenge

Ethereum and alternative public blockchains prove to have expensive and unpredictable fees, slow transactions, unsustainable energy consumption, and complex smart contract configuration. GoMint required a public distributed ledger that offers native non-fungible tokenization for digital and physical assets with speed, low fees, and a reduced carbon footprint.

Solution

GoMint uses the Hedera Token Service (HTS) to improve the minting and settlement times of NFTs from minutes to seconds, reduce transaction fees by over 99% compared to Ethereum, and enhance the end-user experience to drive greater adoption and retention of the GoMint platform.

GoMint enables tokenization and monetization of any digital content using Hedera Hashgraph. GoMint makes it easy for creators to tokenize their digital content, including videos, drawings, photos, and more. Communities of fans are fostered, and exclusive access is provided for content, benefits, and discounts on merchandise. GoMint plans to eventually offer tokenization of real-world assets such as antiques, artwork, rare cars, and real estate.


Alternative public blockchains prove to have expensive and unpredictable fees, slow settlement times, and unsustainable energy consumption.

GoMint participated in the Hedera21 developer hackathon and won the Chopra Foundation's 'Social Good' challenge for their application built using the newly released Hedera Token Service (HTS). The GoMint team was attracted to Hedera for its ability to overcome the inefficiencies and costs associated with today's NFT marketplaces and minting providers using alternative proof-of-work public blockchains and distributed ledger technologies. In the same vein, these alternative public networks offer transaction execution based on who paid the highest fees, which creates unfair marketplaces for bids and asks. Lackluster scalability and long-term network instability (forking) could hinder longer-term plans of eventual real-world asset tokenization and mainstream adoption that GoMint envisions.

A fast, inexpensive, and fair marketplace for NFT minting and exchange

GoMint utilizes Hedera for tokenization of media using the Hedera Token Service (HTS), where native non-fungible tokens represent assets that are issued directly to accounts on the Hedera public network without the need for expensive and potentially faulty smart contracts.


By utilizing HTS, GoMint overcomes smart contract tokenization limitations through the efficiency of Hedera’s underlying hashgraph consensus algorithm; other obstacles found in Ethereum, such as network forks, are overcome by its global governance structure. HTS reduces the total cost of issuance and management, improves transaction settlement time from hours to seconds.


“Almost every artist I speak to who wants to launch their portfolio on GoMint highlights the ecological credentials of Hedera vs the competition.” said Peter Uliano, Co-Founder & CMO of GoMint “We believe this will be even more important when enterprises start to tokenize their digital assets and will demand a solution with a low carbon footprint."

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Hedera is not affiliated with, and does not sponsor or endorse this project.

Industry

Media

Use Case

Asset Tokenization

Overview

GoMint is a digital content and eventually real-world asset tokenization and monetization engine that runs on Hedera Hashgraph.

Challenge

Ethereum and alternative public blockchains prove to have expensive and unpredictable fees, slow transactions, unsustainable energy consumption, and complex smart contract configuration. GoMint required a public distributed ledger that offers native non-fungible tokenization for digital and physical assets with speed, low fees, and a reduced carbon footprint.

Solution

GoMint uses the Hedera Token Service (HTS) to improve the minting and settlement times of NFTs from minutes to seconds, reduce transaction fees by over 99% compared to Ethereum, and enhance the end-user experience to drive greater adoption and retention of the GoMint platform.

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