iNFT Protocol
A layer of smart contracts on a blockchain that allows anyone to create an intelligent Non-Fungible Token (iNFT).
The iNFT Protocol refers to a set of smart contracts based on the Ethereum Blockchain that allow anyone to create an intelligent Non-Fungible Token (iNFT) in a permissionless manner. A detailed and technical documentation of the iNFT Protocol can be found in this Github Repository.
The Tech Stack of the iNFT Protocol
Any NFT can be turned into an iNFT via the iNFT Protocol. This is achieved by fusing the NFT with another ERC-721 asset called the Personality Pod. Once the NFT is fused with a Personality Pod, it acquires its own unique intelligence and personality. This is because the Personality Pod comprises of various on-chain Personality Traits that shape the overall personality of the iNFT and in doing so, dictate the iNFT's intelligence.
The iNFT Protocol, in effect, has an immutable registry of the fusions between NFTs and Personality Pods. As long as a NFT remains fused with a Personality Pod, it is considered an iNFT. On a technical level, the act of fusion involves locking of the Personality Pod within the smart contracts of the iNFT Protocol, while leaving the user's NFT unchanged.
How the iNFT Protocol enables the creation of iNFTs
This means that the iNFT Protocol is designed with a non-custodial framework. Such an architecture enables users to turn their NFTs into iNFTs without the Protocol requiring custody (locking, staking, wrapping, swapping) or applying other changes to the underlying NFT. Therefore, users can utilize their NFTs outside the iNFT Protocol and reduce the risks of losing their valuable NFTs by an error, or an attack on the smart contracts of the iNFT Protocol.
The iNFT protocol is initially being designed to be compatible with the major NFT standards of Ethereum: ERC-721, ERC-1155 NFT, and is elastic enough to adapt to any other standard that will emerge. The current version of the protocol only works with ERC-721, and is set to be upgraded and become ERC-1155 compatible as we move forward. On the longer term, the iNFT Protocol will be blockchain-agnostic and it will be up to the Protocol participants to govern which smart contract blockchains should it incorporate as it evolves.
Last modified 1yr ago