DNFT: Exploration of Cross-chain NFT Protocol
The Rampage of NFTsThe Rampage of NFTs》。
Regarding the upsurge of NFT, Blue Fox Notes has also talked about it before, especially the high price auction of Beeple's NFT, the rise of NBA Top Shot and CryptoPunks, so that the transaction volume of NFT has soared. In addition, some NFT platforms, such as OpenSea, Rarible, Nifty Gateway, Superare, etc. are also rising rapidly. This space is showing the momentum of early DeFi development.
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(Over 95,000 transactions in the last 30 days as of writing, Nonfungible data)
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(There are 12 platforms with a sales volume of more than $1 million in the last 30 days, Cryptoslam)
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(Crypto Art Sales Volume, Cryptoart)
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(Auction of NFT data, Bloomberg)
There are even some musicians who have begun to sell their new works in the form of NFT, and buyers can get the future sales royalties of the music NFT. This model will have a very profound impact on the future cultural industries such as music and movies. These These are all new attempts, just beginning.
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The demand for cross-chain NFT in the multi-chain era is gradually revealed
With the development of DeFi and NFT, according to the current capacity of Ethereum, it is still unable to carry a large-scale NFT ecosystem. In this case, one is to use the Layer 2 method for expansion, and the other is to develop through the multi-chain mode. With the development of multiple chains such as Polkadot, Solana, Heco, and BSC, the NFT assets on different public chains have also begun to grow.
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DNFT is a cross-chain NFT protocol based on Polkadot ecology
DNFT is a cross-chain decentralized NFT protocol based on Polkadot Substrate. It tries to become the infrastructure of NFT in the multi-chain era, providing NFT asset generation, trading, maintenance, recycling, data processing, governance and other basic services. Developers can build NFT asset-related creation, trading, analysis, derivatives, data and other products based on the DNFT protocol. According to its official information, it has obtained Web3 Foundation Grant, Heco Grant and BSC Grant.
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(Architectural layering of DNFT protocol, DNFT protocol)
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(main components of DNFT, DNFT protocol)
It can be seen that DNFT has five main components: DataNFT, DataStorageWithTax, DataSwap, DAO governance, and AI-kit. That is, it provides infrastructure services such as NFT generation, storage, transaction, transfer, and protocol governance. In addition, its AI toolkit also provides some unique services. Through data ETL and data labeling, it tries to create a common data framework for personal data and AI models. It may be related to NFT data, but the white paper does not have more descriptions. Subsequent disclosure is pending.
DNFT plans to integrate ERC721 and ERC1155 standards to achieve more powerful NFT descriptions. In the DNFT agreement, storing NFT data requires payment of taxes, and it is not a one-time payment, but a long-term payment to support storage costs, so as to achieve long-term sustainability of NFT. If NFT holders do not pay taxes in time, their NFT will be recycled and auctioned.
In addition to regular market transactions, the decentralized NFT transactions of the DNFT protocol also plan to provide a variety of auction modes, such as British auctions and Dutch auctions.
DNFT's homogeneous and heterogeneous cross-chain interoperability
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(DNFT cross-chain layer, DNFT protocol)
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DNFT protocol tokens serve the ecosystem
The DNFT protocol has two types of tokens, one is a stable currency and the other is a protocol native token. The stable currency of the DNFT protocol adopts a model similar to that of MakerDAO, but it pledges DOT tokens, and the stable currency dUSD is generated by over-pledging DOT tokens. With dUSD, stable value payments can be made within the DNFT protocol. For example, purchases of NFTs could be denominated in dUSD instead of tokens such as DOT or ETH.
DNF is the protocol token of DNFT, which is used for DNFT's governance, ecological startup and growth incentives. When the DNFT mainnet is launched, it plans to provide Grant's incentive plan for NFT and game projects, and DNF will become an important tool for incentives. Through the incentives of DNF, more projects will be introduced into the DNFT protocol to build a protocol ecology.
DNFT’s white paper mentions that the DNFT protocol will use 30% of DNF tokens to motivate users who support it to win Polkadot slot leases. In addition, DNFT also plans to run on Kusama, and its token KNF will also be airdropped to DNF holders.
So, what value can DNF tokens capture?
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DNFT protocol also adopts DAO governance
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Development path design of DNFT cross-chain NFT protocol
From the perspective of DNFT's planning, there are four stages. The first is the TNFT stage, which is mainly the testing stage of the core module of the protocol. The second is the KNFT stage, which is the pre-operation stage. It will participate in the Kusama ecology and participate in the Kusama parachain slot auction.
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Products in the DNFT test
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(nftsore's data NFT marketplace, DNFT)
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At present, Ethereum is the one with the strongest network effect among smart contract platforms, but due to its scalability, other chains have also seized some opportunities in this time window when DeFi and NFT exploded. In addition, with the arrival of Polkadot and smart chains, the multi-chain era will become a reality to a certain extent.
Under such circumstances, the demand for cross-chain NFT is gradually showing. People issue their NFTs on different chains, and there is also a need to interact with NFT assets on different chains. DNFT is a Substrate-based cross-chain decentralized NFT network, which attempts to provide infrastructure services for NFT cross-chain, including NFT generation, transaction, maintenance, DAO governance, etc. Among them, from the perspective of its products, in addition to NFT collectibles and NFT artworks, it will also extend its tentacles to NFT games, NFT big data and other aspects.
From the perspective of the development trend of NFT, cross-chain NFT is an inevitable path for its horizontal expansion. It has just begun, and we look forward to more explorations of NFT landing.
