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NIFTY is a proposal for a project in Hyperledger labs. Hyperledger labs is an open source code community with light touch governancea low barrier to entry. Any and all are welcome to join the lab. NIFTY aims to create an easy way to issue and trade NFTs, in a protocol agnostic way. NIFTY will create code to manage links to registries for issuance, market place utilities for NFTs to create markets for trading (auction market places) and whatever shall arise in the course of our development.
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- Adopt a token standard (a combination of the TTF and ERC- inspired standards)
- Implement a marketplace (recode samples )
- Use Hyperledger Fabric as the underlying utility. See how ERC standards have been implemented in Fabric.
- Generalize (see below)
As Ethereum has been the main driver of NFTs, standards are most mature in EIPs (Ethereum Improvement Proposals). These standards have been implemented in Open Zeppelin and in other locations. Three standards are of note: ERC 721, ERC-1155 and ERC 998. Of this ERC-721 is most commonly used. The implementation of eThaler as ERC-1155 in Hyperledger labs and its subsequent reuse in the Climate Accounting project means that these standards are mappable to Hyperledger projects like Fabric.
Other workExtension, or even thoughts before current implementation:
- Can this infrastructure be flexible enough to define and issue different kinds of NFTs that conform to different standards?
- In Can a multi-protocol approach work (this is considerably more difficult as it involves creating smart contracts in different protocols)- What about WASM approaches (investigate Solang HL Lab)
- Interoperability of NFTs can NFT issued on one protocol move to another? Be paid for in another
- Oracles that underlie NFTs.
- Submarining- how will this work- can this be Is this relevant for non-IPFS storage mechanisms?
- Other damping mechanisms- A governor or clamping mechanism with a circuit breaker for extreme events
- Incorporate AI and XR in the stack
Handle Current limitations of Web3 implementations (Moxie M)
- "Design systems that can distribute trust without having to distribute infrastructure." . All data to be in distributed infrastructure (In Fabric this can be Private Data Collections)
- "Reduce the burden of building software." - No code platform....A smart contract generator, for Go implementations first.
- A generic issuer front end.
- A wallet front end for transfers (not tied to a particular access point)
- Platforms vs Protocols.
- Avoid the worst of both worlds: "centralize to control, decentralize to reduce speed of change".
- Wallets need to do complex things, beyond being only a view onto centralized data.