Technical Standards

rNFT – ERC6551

NFTs have traditionally played a significant role in redefining digital ownership across various domains, including art, collectibles, and even tangible assets, by providing a transparent and immutable record of ownership and provenance through blockchain. This has not only democratized access to art and collectibles, but also introduced a new asset class for investors.

However, the utility of NFTs has largely been confined to the realms of buying & selling, lending & borrowing, with limited scope for interaction or dynamic engagement. ERC6551 introduces the concept of Token Bound Accounts (TBAs), transforming NFTs from static collectibles into dynamic, functional smart contract accounts. This shift not only broadens the potential applications of NFTs but also aligns with the growing demand for more interactive and functional forms of digital ownership.

cNFT – ERC721

Through ERC721, rNFTs encapsulate and indirectly grant ownership of cNFTs to a user, streamlining asset transfer within the blockchain. When an rNFT is transferred, it also includes all associated cNFTs, ensuring a comprehensive ownership transfer of the entire collection. This mechanism enhances the functionality and utility of NFTs, aligning with the evolving landscape of digital asset management and ownership.

Adopting ERC-721 for component NFTs (cNFTs) within an rNFT enhances uniqueness, ownership history, and asset integrity. This standard guarantees secure management of digital assets and enhances interoperability across Ethereum's ecosystem, allowing seamless interaction with marketplaces, wallets, and dApps. It also supports metadata addition, providing detailed asset descriptions and maintaining the information depth of each cNFT component–much needed for provenance.

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