The Next Generation of NFTs is Here

Aug 06, 2021 · 2 mins read
The Next Generation of NFTs is Here
Share this

Welcome to the future

It might not sound sexy, but the future of data ownership might be the key to fixing everything that’s wrong with the internet. In just over three decades, the web has become the main source and repository of all human knowledge. As usual, our legislation has a long ways to go to keep up.

We in the crypto-community have already begun to make rules of our own, and we believe that Atomic NFTs are the next step in that journey.

This standard is the product of a huge amount of brainstorming and is only possible thanks to the amazing work by the Arweave team on the Smartweave standards, and the pioneering work on projects like Arweave and Kyve who’ve led the way.

What’s an NFT?

Non-fungible tokens are any crypto-asset that is unique or has limited interchangeability. Generally, these are expected to become the new standard for not only media and art, but also things like land titles and business contracts.

What does it mean for an NFT to be Atomic?

An Atomic NFT combines Smart Contracts and Decentralized Storage to register a single payload with a single ID that includes both the contract data and the stored content or media asset.

Why use Atomic NFTs?

  • Storage Networks like Arweave have much lower gas fees
  • Much less energy is used, and utilities can be added with Gradual Consensus
  • Media files can never be separated from the contracts that control their ownership
  • All content receives KOII tokens any time it is viewed (Learn More)

Introducing the Standard

The Atomic NFT Standard provides a single common standard along with source code for deploying and creating custom NFTs. The rules are quite broad, and really only intended to ensure interoperability. As the standard evolves, more features can be added to the open-source github docs. Initially, the standard includes the following supported features.

General Trading and Ownership

In order to support use with wallets like Finnie and ArConnect, the standard defines balance and transfer methods which define how the NFT can be managed by it’s owner(s). you can now trade Atomic NFTs on the Verto Exchange.

Dynamic Content

Because Atomic NFTs can include any content as long as it loads into an HTML element, it is possible to embed dynamic JavaScript functionality based on outside information, as well as images and content in the form of text-based SVGs. The Narcissus Flower is one-such example, which blossoms when it receives more attention.

Bridging and Cross-Chain Support

Because the Finnie Wallet now support cross-chain NFT transfers and multi-chain wallets, we’ve now also published a standard-set for building NFTs that interact with bridges, which can be found here.

We’re cooking up a whole bunch more unique NFT tools, but in the meantime, you’ll want to get a wallet and start earning attention rewards while there’s only a few thousand users, because it’s about to get quite crowded.

If you want to start making NFTs right away, you’ll want to install the Finnie Wallet

Join Newsletter
Get the latest news right in your inbox. We never spam!