๐Ÿช™Venus Reinventing NFT

Most of the crypto assets such as BTC and ETH that have been traded for a long time are homogenized tokens. Simply put, homogenized items or tokens are, for all intents and purposes, interchangeable with BTC, ETH, and other long-traded crypto assets mostly homogenized tokens. Simply put, a homogenized item or token is, for all intents and purposes, interchangeable with another unit of the same thing. For example, a bitcoin is equal to another bitcoin, just like a dollar is equal to another dollar. Dollars can be simply exchanged, even if the serial numbers are different, without affecting the substitution, and if the value is the same, the denomination size of the bill makes no difference to the holder.

The same is true for homogenized tokens; there is no difference between one bitcoin of the same type and another, with the same specifications and uniformity. In a transaction, it is sufficient to focus on the number of tokens handed over, and their value may change depending on the time interval between exchanges, but their essence does not change. A homogenized token is a token that can be replaced, has uniformity, and can be split near infinity.

Homogenized tokens are easy to use, but things that have real value in real life are irreplaceable, such as a contract, home ownership, artwork, birth certificate, etc. Therefore, non-homogenized tokens were created.

Unlike homogenized items, non-homogenized items or tokens are not interchangeable with each other; they have unique properties and are fundamentally different from each other even though they look similar.

As the popularity of NFTs has surged, the drawbacks of traditional NFT issuance have become increasingly apparent, such as the uncertainty caused by the unavailability of tokens after an upfront sky-high sale; the fact that some NFTs are set up in a way that makes it difficult for users to take true ownership. Theft of NFT assets triggered by the use of inefficient or outdated protocols is a frequent occurrence, and it is time for a standard sale making framework to regulate the healthy development of the industry. Therefore, Venus has set the standards that need to be followed to issue NFTs within the platform to protect the core rights of every user.

Venus NFT platform is the first ecological application platform of Venus DAO, and every DAO member is the owner of Venus NFT platform, which is a one-stop comprehensive service platform integrating NFT creation, bulk creation, trading, auction, collection, blind box, NFT finance and other functions.

The following criteria need to be followed to issue NFT on the Venus platform.

  • Ownership

Users have full ownership of NFT assets and can operate the NFTs they own at their own discretion, such as auctioning, trading, transferring, collecting, etc.

  • Multifunction

NFT distribution fully follows the ERC-721 and other standards, all applications supporting Solidit technology framework can be called, the standardized functions of NFT, to achieve cross-ecological reuse of NFT, multi-functional applications.

  • Mobility

Based on years of blockchain technology research, it not only empowers NFT with high value, but also empowers the ecological liquidity to NFT, allowing NFT to have a more massive liquidity and activating the potential value of NFT.

  • Uniqueness

NFTs are written into the blockchain with smart contracts, and no one can make changes to edit other users' NFTs, except the NFT holders themselves.

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