We’re at the beginning of a revolution. NFTs will completely transform the way we create and share online. But we are still very early, both in terms of adoption and technology. Existing NFTs are very basic. In order to fully unleash the power of NFTs, the underlying standards they are built on must evolve to be able to handle more complexity and functionality.
We scanned the EOSIO eco-system for existing NFT standards. While we didn’t find one that we felt ready to build around, we did find an amazing engineering team, CryptoLions, who built the first NFT standard on EOSIO: Simple Assets.
CryptoLions have been in blockchain since before the launch of the EOS Mainnet, launching and managing the popular Jungle Testnet. They created Simple Assets, which went live in February, 2019. We entered into an exclusive partnership with CryptoLions to work closely with Voice to further develop their Simple Assets NFT standard into a more robust, next generation standard. Integrating this talented team into Voice allowed us to build an NFT foundation based on deep expertise in the space.
Today, we are proud to introduce Simple Asset Plus (SA+). SA+ combines rich structure with powerful market capability in a surprisingly simple package. It is comprised of two primary interfaces:
- Simple Assets Plus is our NFT “standard”. It defines NFT structure, attribution, and ownership to enable features such as:
- Multiple co-creators, each with different privileges and a specified % entitlement to proceeds
- Editions, limited edition versions of the same media file e.g., 1/100
- Collections, groupings of non-identical NFTs
- Containerized NFTs, where users can effectively put NFTs inside of others
- Lending and borrowing NFTs amongst users
- Airdropping NFTs based on combinations of NFTs owned
- Custom IP ownership and proceeds declarations, including variable levels of ownership and proceeds distribution
- Multiple media content
- NFT data categories updatable or appendable by specified third parties
- Modular non-custody marketplace(s)
- Innovative RAM management
- Simple Market defines a rich set of actions for exchanging NFT ownership, making it simple to list and sell NFTs with confidence that proceeds will be distributed correctly and dynamically, regardless of whether a first sale or on any number of resales.
These interfaces work in concert to provide a simple yet powerful platform for managing the entire lifecycle of NFTs and NFT exchange, while minimizing off-chain dependencies. Additionally, SA+ provides innovative capabilities for managing blockchain resources (e.g., RAM on EOS) when deployed in a general purpose decentralized blockchain.
A solid foundation and an exciting future
Voice has built upon the already-capable Simple Assets standard to define an NFT that supports rich features today and will spawn innovation far into the future. We look forward to bringing those innovations to life as we introduce an entirely new audience to the power of NFTs via the Voice platform.