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Introduction

The purpose of this document is to describe how FIO Protocol could be used to enhance the Non-Fungible Token (NFT) experience.

Digital Signature

It is very easy to copy digital art and it’s very easy to create an NFT. How does one know that a particular NFT is in fact created by the artist they think created it? FIO Protocol may offer a solution:

  • An Artist would register a FIO Address, e.g. leonardo@vinci, on the FIO Chain and publicize it to their followers.

  • They would then map their NFTs to their FIO Address. They may also choose to insert the FIO Address into the NFT itself.

  • Anyone could fetch NFTs mapped to a FIO Address.

  • Anyone could fetch a FIO Address which maps to a particular NFT.

    • Since it would be possible for anyone to claim they authored the Mona Lisa NFT. Verified FIO Addresses concept could be applied to allow an expert, e.g. expert@christies, to attest that Mona Lisa NFT was authored by leonardo@vinci

Transferring NFT Ownership

Send

Today, FIO Addresses are mapped to unique public addresses on different chains. This means that using existing FIO Protocol functionality NFTs can be transferred to a FIO Address, e.g. curator@gallery, instead of complex public addresses.

Request

Transferring large amount of crypto can be scary. Imagine how scary it is to attempt to transfer a $69M NFT.

Today, FIO Request is a mechanism to allow one person to securely request funds from another. It could be extended to allow for requests of NFTs. Instead of amount, chain code, token code, it can contain chain code, smart contract address, token ID.

Metadata

FIO Data has been designed to allow decentralized and secure transmission of metadata about a transaction occurring on any blockchain. It can also be used to transmit metadata about the transfer of an NFT.

NFT Collection FIO Address

FIO Address could be used to create a collection of NFTs. For example:

  • A collector could map all NFTs they own to collector@iamrich

  • A gallery could map all NFTs in its exhibit to works@gallery

The FIO Address could then be typed into a digital frame to easily instruct it what to display.

Interacting with NFTs using FIO Protocol

What if you could interact with an NFT using a human-readable name?

  • Send 1000 USDC to monalisa@louvre and she will blink

  • Send a message to monalisa@louvre asking what is her name and receive a response

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