NFT Simplified Series: Micro-NFT’ & its Use-Cases Simplified
NFT SS: MICRO NFT’ & its Use-Cases Simplified
In the world of blockchain technology, it is now possible to represent any unique and identifiable physical resource, whether tangible or intangible, in a digital format through non-fungible tokens (NFTs). These NFTs come with powerful features, including embedded rights, provenance, and verifiability.
What are interchain NFT’ & how can it affect the implementation of Micro NFT’ aka Fractionalization of NFT’
Interchain NFTs developed by the Interchain Foundation and AssetMantle refer to non-fungible tokens (NFTs) that are designed to be interoperable and transferable across different blockchain networks. AssetMantle is built as a layer-1 on the Cosmos ecosystem, which enables the creation of an inter-operable NFT marketplace that can scale and span multiple chains- unlike chain gnostic standards such as ICS-721 or ERC-721, creating a larger shared market economy.
To ensure seamless interaction and exchange of tokenized digital resources across blockchain networks and the web, it is essential to establish an interoperable NFT and metadata standard. Such a standard allows for virtual addressing, description, authentication, control, and exchange of these digital resources. This means that NFTs developed using these standards can be utilized and traded on various blockchain networks, providing more flexibility and accessibility for both creators and collectors.
In addition to the AssetMantle ecosystem, there is an extended ecosystem called MantleLabs (&MantleGrants) that is committed to community-driven development (dApps on mantleChain) in the field of interchain NFTs using the AssetMantle’ NFT Economy utilizing the MantleModules’
Micro-interNFT’; How does it work?
Micro interNFTs, refers to fractionalized non-fungible tokens that are designed to be interoperable and transferable across different blockchain networks. The term “micro” indicates that these fractionalized NFTs represent smaller portions of the original asset, allowing for greater accessibility and affordability for investors and collectors. By leveraging interchain capabilities, these micro NFTs can be utilized and traded across multiple blockchain networks, providing flexibility and enabling diversification in ownership.
These Micro NFTs represent fractional ownership or shares of a particular asset, opens up new opportunities for individuals to invest in high-value assets without needing to purchase the entire asset. They enable fractional ownership, allowing investors to gain exposure to the potential benefits and value appreciation of the underlying asset, while minimizing barriers to entry and diversifying investment portfolios across different blockchain networks. This innovation enhances the inherent attributes of NFT-based assets, such as ownership, provenance, and verifiability.
The use cases for Micro-NFTs are widespread and can apply to various fields. These include collectible tokens, financing tokens, impact tokens, access tokens, art tokens, physical property tokens, data tokens, and commodity tokens. In the following sections, we will explore user stories within these spheres to illustrate the immense benefits of shared ownership of non-fungible assets, particularly within a decentralized interchain NFT standard framework.
InterchainNFT x Micro NFT’ Implementation — Use Cases:
Collectible Tokens:
As a passionate collector, I can now own a piece of a rare and valuable artwork through interchain NFTs. These tokens are designed to be chain agnostic, allowing me to invest in fractional ownership of the artwork across different blockchain networks. With interchain NFTs, I can diversify my collection and participate in the art market in a more affordable and inclusive way, regardless of the specific blockchain network used.
Finance Tokens:
As a small business owner, I can leverage interchain NFTs to raise funds for my expansion project. By fractionalizing my company’s assets into chain agnostic NFTs, I can offer financing tokens to investors across multiple blockchain networks. This enables them to own a share of the company’s assets and benefit from its success, irrespective of the blockchain network used. Fractionalized interchain NFTs provide new avenues for fundraising while democratizing access to investment opportunities across chains.
Impact Tokens:
As an environmentally conscious individual, I can contribute to renewable energy projects through interchain NFTs. By investing in impact tokens that represent ownership in a solar farm or wind power plant, I can support the green energy transition. These interchain NFTs allow me to earn returns based on the project’s performance, regardless of the blockchain network they are built upon. Fractionalized interchain NFTs empower individuals to make a positive impact and align their investments with their values across different chains.
Art Tokens:
As an art enthusiast, I can now invest in high-value artwork using interchain NFTs. Through the fractionalization of art assets into chain agnostic tokens, I can own a fraction of renowned art pieces without being limited to a specific blockchain network. Interchain NFTs provide me with the opportunity to diversify my art portfolio while potentially benefiting from the value appreciation of artworks across multiple chains.
Real World Asset Tokens:
As a real estate investor, I can diversify my property investments using interchain NFTs that are chain agnostic. By fractionalizing physical properties into NFTs that can be utilized across different blockchain networks, I can own fractional shares of multiple properties without committing to a single one. Holding these interchain property tokens provides exposure to potential returns and rental income across chains, enhancing flexibility and diversification in my investment strategy.
Data Tokens:
As a business owner, I can monetize my data assets securely through interchain NFTs that are not limited to a single blockchain network. By tokenizing my data and selling fractional ownership through chain agnostic NFTs, I can unlock its value while maintaining control over its usage. Interchain data tokens ensure that authorized individuals across various chains can access and utilize the data, providing a secure and efficient means to monetize data assets.
Commodity Tokens:
As a trader, I can invest in commodities like gold, oil, or agricultural products using interchain NFTs that are chain agnostic. Fractionalized interchain commodity tokens allow me to own fractions of these commodities and gain exposure to their price movements across different blockchain networks. Without the need for physical storage or large capital investments, interchain commodity tokens provide convenient and cost-effective access to the commodities market, facilitating portfolio diversification across chains.
Access Tokens:
As a music enthusiast, I can now access exclusive concerts and events through interchain NFTs. By purchasing access tokens based on fractionalized interchain NFTs, I can own a fraction of a ticket or membership pass that grants me access to premium experiences such as a day-pass of Tomorrowland instead of the entire 4-day cluster. These interchain access tokens democratize access to events, allowing fans to engage with their favorite artists and entertainment venues across different blockchain networks.
-Vismay Hegde (author)
About AssetMantle
AssetMantle is a multi-tenant NFT marketplace framework that enables creators and collectors to securely mint, own, and trade digital assets on its fast-finality blockchain. The AssetMantle no-code toolset allows creators to create customized assets and marketplaces permissionlessly. Likewise, collectors can own the assets minted across these marketplaces and compatible chains in a singular wallet with minimal gas and a lower carbon footprint. AssetMantle implements an end-to-end stack of open-source modular tools via iNFT standard that developers can modify to fit advanced use cases.
contribute to interchain NFT standards; currently being spearheaded by us & the interchain foundation: https://github.com/interNFT/nft-rfc/tree/main
AssetMantle has a plethora of iNFT products (MantleBuilder- in the brew, MantleWallet, MantlePlace, Explorer) with the crowing glory product with which we kicked off the NFT economy; iNFT & DiD-based MantlePlace MantlePlace; an NFT marketplace with features such as an interoperable NFT’, next-gen secondary marketplace, in platform messaging, trade-rooms, fractionalized NFTs, tiers & access controls, dutch & english auctions, whitelists & exclusive sales, batch minting, plethora of other state-of-the-art features released sequentially. Create your unique ID today!
Vision
Build an open-source, community-driven framework for inter-chain NFTs and metadata standardization by contributing to the ‘interNFT standard’.
Mission
Provide a platform that enables a diverse set of NFTs use cases that extend beyond arts and collectibles and can potentially change the representation of rights and ownership of real-world assets like real estate and other commodities.
AssetMantle is always on the lookout to connect with individuals or organizations who wish to take advantage of the opportunities present in the blockchain space and want to learn more about AssetMantle. If you wish to get in touch, please do not hesitate to reach out.
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