Building NFTs on HIVE

in HiveDevs15 days ago

NFT Research and Development

We've spent the last several weeks hashing out the best ways to bring NFTs to HIVE. As many already know I've built a decentralized smart contract platform for HIVE that's been running the DLUX sidechain/layer 2 for nearly 3 years. Several of the innovations that are availible on Hive via DLUX can lend themselves very well to solving some of the problems with NFTs on other chains.

Following are some of the features that we find necessary to implement, I hope this post starts a conversation and all HBD proceeds and HBD donations to @disregardfiat in the next week will be used for buying a $200/day proposal on the DHF

Needed Features

  • Scaling - NFTs must not hinder the environment they are on
  • External Assembly - Minimize the data and processing in consensus
  • Cross Chain - The ability to move NFTs not just between chains, but between layer 2s
  • Transferability - Ability to Transfer and Escrow Transfer NFTs
  • Auction - Get the best price for your NFT
  • Trust - Decentralized with no back doors

Definition Based NFTs

NFTs are expensive. By their very nature they need to be individually tracked between accounts. Having a decentralized system keep track of these NFTs presents a scaling headache to any who seek to tackle this challenge. Care should be taken in generating the contracts and the non-fungible aspects of the token. By having definition based NFTs you can have the definition in several places and move NFTs between accounts and chains.

  • Move NFT from one layer 2 on Hive to another layer 2
  • Move NFT from one chain to another
    This fulfills many of the base requirements for Vitaliks proposal on ETH below.

Vitalik on NFTs

Some ETH NFT Musings

Scaling Issues

Having one Layer2 to run all future NFTs is kind of a fools errand, part of the initial package here is to be able to transfer NFTs between chains. By utilizing the definition based protocol and the off chain reconstruction techniques a simple layer 2 to layer 2 handshake is all that's needed to take an NFT from any number of interoperable layer 2's thus making scaling a non issue right out of the gate.

Part of the definition will include an IPFS hash to code that will assemble a finished NFT from the data on chain. Be this a fill in the blank real estate contract, pixel art, or layer based pictures. This way computing can be minimized on chain and by node processors but censorship resistance remains strong.

Transferability

Sending an NFT via an off chain sale is of course possible, but having standard contracts like: Only transfer the NFT after x HIVE is sent with this memo to this account protects both buyers and sellers(whom ever goes first in a swap).

Auctions

A built in way to track and keep bids on chain ensures price discovery and fair open markets. The UI for the aucion can easily be a portable dApp such as available on DLUX.

DHF Payback

Having developed the longest running decentralized layer 2 on Hive has some advantages in it's abilities. In addition to supporting dApps, layer 2 tokens, DEXes, trustless NFT transfers, Proof of Brain, auctions, and smart contracts in general; one of them of course will be to track funds received and autonomously payback the DHF with a portion of funds received to buy layer 2 tokens from fresh distribution. Normally these funds are used to buy orders off of the DEX and increase the value of the coin to be shared buy all owners of the coin. However, while the ecosystem has an outstanding balances with the DHF it will pay back the DHF with a portion of new funds received.

Discussion

All discussion is welcome below. I am hoping to make the best possible product with any and all help. Please share your ideas and criticisms below.

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@bobinson are doing a NFT that has cross-chain swaps and I believe layer 2 to layer 2 communication just needs to point "SONs" at each chain or nonchain to connect "pipes."

I'm super excited about the SON tech and how this will change the game for cross-chain communication for Hive.

SPK network tech overview, at the bottom you'll see the NFT section to read more. https://hackmd.io/@9j-5X3PkSkmpUakLiRPFgw/HJIcRkcgK

I'm super interested in everything that both makes development easier, and standards wider. Awesome reference!

just use https://wax.atomichub.io ask for the atomichub people to make for us https://hive.atomichub.io just add ATOMICASSETS to HIVE

https://github.com/pinknetworkx/atomicassets-contract

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I think,

And i could be wrong,

Hive and SPK can be super unique with video Nfts. Nobody offers it. Nobody has the infrastructure for it.

Hive with SPK could offer it. I could imagine this could be boom :D

I can imagine a video NFT has some contract machinery associated with it so you can just pay a fee to license/reuse and other copyright actions. Would be really cool indeed.

I think it could be have a soft use case, Influencer can sell moments or funny videos ( like nft pictures)

And the real use case for music and movie licenses that can be used for other videos if you pay a fee.

Could add value to end-users and the industry behind them.

The soft use case would be cool to start because the other needs in some way the first big boys use it :) Could be made a lot of money out of it.

IMO the infrastructure first would be the key to long-term success.

Most funny point is, there is no other player in town that could deliver that :D

I was actually thinking about trying to capture some of my best longboard moments into gif, or video NFT’s.

Alternatively, I also had the idea of creating trading cards for a fantasy football style game, accept with longboard racers. Then each time someone trades them, a small portion or royalties would go to the artist, and the athlete. This way the fans can help their favourite athletes attend race events, since many cannot afford to make it to all the required events without a large sponsor behind them.

I also really like the idea of NFT profile pictures on Hive, and badges. Probably the rarest NFT’s out there, will be ones you can only earn through participating in Hive.

P.s if any of you programming skilled people have some spare time, the @SkateHive team could really use some help planning our front end.

HIVERR!D

For threcord! I always WAS an NFT!
Ask @nyone

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Nice move by vitalik

Thanks for the information friend, I would like to participate in the project creating 3D images I have to catch up with the information, although I have not had time, it is on my agenda ...

Keep up the great work

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