What are NFT, SFT, ERC-721, ERC-1155, dGoods, etc.?


We start without any entry!

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What is FT?

FT (Fungible Token) is an interchangeable token

An excellent example of such tokens is the ERC-20 standard in the ethereum blockchain, proposed in 2015 in the year. Their interchangeability is great for acting as a currency (but not only). Many of you probably participated in various ICOs or bought such tokens on the exchange (BAT, OMG, ZRX). 1 token 0x (ZRX) = another token 0x (ZRX), as well as $ 1 = $ 1 or 1 ruble is equal to another 1 ruble. In addition to FT currency, tokens can be used, for example, for consumables in games (cartridges, arrows, in general, everything that does not require uniqueness and what can be divided). And on the word uniqueness, we smoothly turn to NFT.

What is NFT?

NFT (Non-Fungible Tokens) are non-interchangeable tokens

They are often called unique tokens or indivisible. The most popular standard for such tokens is ERC-721proposed at the end of 2017 By William Entriken. One of the uses of such tokens are game characters (but not only).

The two seals on top are CK (CryptoKitties) tokens of the ERC-721 standard. These 2 tokens have differences written in the metadata. This data cannot be changed. They have different coat color, different eyes, etc.

These 2 cars are tokens WR (War Riders)having their unique ID. Token_ID can be viewed in the block explorer. For example, in Etherscan.io or Enjinx.io. On eos it bloks.io. Also for these cars, you can buy tools that will also be NFT and displayed in the game for cars and at the same time lie in your wallet as a WR token with the corresponding ID. It is a pity that etherscan does not show images of these tokens. By the way, many wallets for taking metadata take the Asset API Opensea.io decentralized exchange platforms for NFT.

In addition, in such smart contracts the function of fixing their movement is implemented, and the token can accumulate value in itself. This is great for digitizing unique assets. Even for example, objects of art, paintings, legal documents, you can label each bottle of wine separately, in general, for which there is only enough imagination. Imagine for a second that someone decided to re-release Diablo on the blockchain, so your character could be an ERC-721 token and accumulate a certain value as the game progresses, therefore, this token can be sold to another player already, because the pumped character has more experience, strength and more. This has great potential for the development of various stores such unique digital goods.

Another example of using NFT. Suppose you are a famous musician and recorded a new album. You can sell it for $ 10 per copy. OR! create a shortage of 1mln pieces and sell as a unique thing using an auction. As soon as instances will end - the price will rise. Register the download link in the metadata (something like that). A lot of decisions, and this can really change the world.

ERC-721 has flaws. For example, the fact that each element is in one contract. And at this point we turn to ERC-1155.

What is ERC-1155?

ERC-1155 is a new token standard.that was created by 17.06.2018 by the Enjin Coin team. Thanks to ERC-1155, you can send any number of items to one or several recipients IN ONE TRANSACTION!

As you know, games have consumables, such as cartridges, nails or game currency (ERC-20), and there is also a machine gun, hammer, sword, armor (ERC-721), and now all this can be sent to different users in one transaction, thanks to New standard tokens.

Another example: Imagine that you are in a store, and ERC-1155 has not yet been invented, then you would have to buy each product separately. You take the goods from the shelf and carry it through the entire store, then pay for the goods at the checkout, then return for the next product, and so on with each. Hell! Yes, it's inconvenient, expensive and long. But according to this principle, so far a lot of work in the blockchain is exactly like this.

In short, ERC-1155 combines all the best from ERC-20 and ERC-721. Items are now stored in ONE! contract with the minimum possible amount of data necessary to distinguish the token from others - it is cheaper to develop and more convenient for users.

An example for an ERC-1155 is the Enjin multiverse. One of these chips Multiverse Items - this is what they are playable in different Enjin multiverse games, and it can be both FT and NFT. Interoperability is a new trend in cryptogaming, but few follow it. Enjin in this plan ahead of everyone. One item in different games will be displayed in different ways.

If you have ever watched a movie or can read the book “To the First Player to Prepare”, then this concept will become clear to you. The multiverse can also be FT.

Consumables, for example, this key from above, can also be used in different games, jumping from one universe to another. This, of course, makes these digital items more liquid, and making the decision to purchase such an item is easier. If the game is not fully onchain and your item is used only in one game, then there is a risk that the server will shut down, and it doesn't matter if your item is in the blockchain or centrally. You still hardly sell it.

In addition, for minting these items are blocked Enjin Coin. And if you look at Forgehammer (picture above), you will see that Reserve: is 25ENJ or $ 3,87. You can “bold” or “melt” it in your wallet and get this cost price by destroying the item. It is like a guaranteed reward.

What is dGoods?

dGoods is an open source and free standard for handling all types of virtual elements in the EOS blockchain

The response of eosovtsy to efirovtsam 🙂 if we talk about really mass adopshne, then flexibility is a very important characteristic. The dGoods developers are guided by this very principle.

Initiators of creation dGoods EOS-oriented game development studio Mythical Games, which develops the game Blankos and contributing to the development of the ecosystem and specifically cryptogeaming on the EU. Then top-level development teams on eos joined the initiative:

Scatter, EOS Lynx, Token Pocket, Cypherglass, PixEOS, Bloks.io, Mathwallet, infiniverse, ITAM Games, Greymass, Meet.one, Nova Wallet.

Key features:

  • metadata templates for 3D and 2D objects can be used for display in wallets;
  • certificate of authenticity (the ability to have immutable fields describing the attributes of an object that make up the certificate of authenticity, as well as a graphical representation for displaying evidence of the object's attributes to consumers, including its brand, originator or rarity);
  • combining tokens from different categories in one token contract (the dGoods standard has one token character per contract, but allows you to create multiple sub-tokens. You can assign a category, a token name and tags to these sub-tokens so that wallets and applications can organize and filter tokens) ;
  • replaceable and non-replaceable tokens in one contract;
  • open source;
  • types of tokens. (tickets, jewelry, art object);
  • Semi-Fungible Tokens (technically, this is the same NFT);
  • and this is not the final list.

Here we come to the SFT (semi-interchangeable token)

NFT and FT do not provide enough flexibility to implement many business ideas.

A few examples:

  • You sell 200 concert tickets. All tickets are the same, but they have different places.
  • Your game has a limited set of 1000 digital swords that look and function the same, except that they all have a serial number from 1 to 1000. Most players may not like the serial number. The sword is a sword, however some hardcore players may indicate a different value depending on the serial number assigned to the asset. For example, 1 from 1000 can cost someone more than 200 from 1000.

Your digital goods in your mobile!

What is Simple Assets?

This is another initiative to standardize NFT digital assets from the Cryptolions Producer Unit. In this video dGoods v0.1 (now v0.2) and Simple Assets are compared:

One of the Simple Assets chips I liked is delegate, but most likely it will be in dGoods too. And most likely the dGoods initiative will be more widely distributed. I have already seen a demo version of the marketplace, where you can borrow NFT. Can you imagine it? Rental of gaming items without risk of no return 🙂

Delegate

This simple table keeps track of borrowed and borrowed assets. Lending an asset through action delegate will actually change the asset owner field, but it will also create an entry in the delegates table, and some functions, such as transferring or burning the asset, will be blocked until the asset is returned to the owner who borrowed it.

delegates {  uid64_t assetID, // asset id offered for claim  name owner, // asset owner  name delegatedto, // who can claim this asset  uint64_t cdate // offer create date  }

Both of these initiatives, dGoods and Simple Assets are in the alpha stage.

What is Blockchain Bean Asset?

BBA is the new NFT standard on ethereum from the Blockchain Game Alliance, which includes (Ubisoft, Enjin, Ultra, B2Expand, etc.)

The latter are at a very early stage ... This month, the first technical group gathered to discuss, and in this regard they are behind the above. Under the link below .pdf first specification.

Conclusion

The NFT market is finally beginning to standardize, which will give a big breakthrough in the development of trade in digital goods. Imagine stores and sites (like eBay, Amazon or Aliexpress) where you can sell and rent digital items. And you yourself can create such unique items and make them scarce.

Useful link to the NFT decentralized exchange guide: https://cryptogamingpool.com/swapmarket-guide.

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