Rich NFTs (Metaverse readyO
Introduction
Currently (late 2021) most NFTs are objects of art. As somebody has put it in an Ethereum stackexchange question, is there any utility in NFTs beyond selling it or admiring it?
Yes, there is utility beyond that, for example:
- using NFT as a collateral in some DeFi transactions
- using NFT for game items
- extended NFTs connected to real-world property, places or objects (akin to security tokens)
Other options are also possible. Ethora engine has been used in a couple of projects pioneering extended NFTs that include additional rich content such as 3D models,
Features of Rich NFTs
Rich NFTs normally would have one or more of the following features:
- Metadata entries pointing to 3D models and textures or a ready bundle compatible with Unity, Unreal Engine, Decentraland, Spatial etc
- May also include or support: full-poly and low-poly (lightweight) 3D models, video and sounds, AR/VR features, file for 3D printing at home etc
- Mutable parameters impacted by object's exploitation in the Metaverse (for a digital car, for example, that would be mileage, how much fuel left etc)
- Additional/Custom parameters improving the compatibility with certain applications and metaverse platforms
- Rich NFTs would often be based on advanced NFT standards allowing more flexibility and combinations of fungible + non-fungible tokens. ERC-1155 offers greater flexibility in creating such composable tokens corresponding to real needs of metaverse objects. E.g. limited edition car (1 / 1,000), unique aerography created by an artist (1/1), fungible token for fuel tank etc. See example diagram below.
Simple example of Rich NFT metadata (including full 3D model and a lightweight one):
Examples of Rich NFTs applications
CyberCrack NFT - exhibited by Hermitage State Museum in November-December 2021.
Web page - NFT exhibition
3D app & modding of your Metaverse NFT
Demonstrated below is an iOS app (Unity-based) that allows the owner to interact with their Rich NFT token in a 3D space (3D Garage in this case), apply modifications and use it in a PvP race.
Viewing an NFT exhibit in a 3D "Metaverse" space
Vimeo video (including demonstration of "Metaverse" capabilities):
First part of this video (garage and race in Monaco) is rendered from CyberCars 3D application.
This shows the Garage capability where the owner of NFT car can look at their car in 3D, even open the doors and start the engine, change colours and mods etc.
The second part (drag race in Monaco) demonstrates how the owner of NFT car can use it to travel / race in a Metaverse. It could be a drag race versus AI or other players as shown in the demo, or it could be simply a travel exploring the metaverse spaces.