Wednesday, September 27, 2023
HomeUpcoming NFTpeaq unveils integration with Nexera Protocol by AllianceBlock bringing MetaNFTs to Polkadot...

peaq unveils integration with Nexera Protocol by AllianceBlock bringing MetaNFTs to Polkadot and Kusama ecosystems

This integration will give developers a versatile and powerful tool to build on top of peaq to handle KYC, identity verification, hierarchical asset ownership and more.

peaq, the Web3 network powering the economy of things, has announced integration with the Nexera Protocol, the next-generation standard for NFTs and interoperable metadata developed by AllianceBlock. As part of the integration, peaq will be the first Layer 1 blockchain in the broader Polkadot and Kusama ecosystems, supporting his MetaNFT (mNFT) standard, currently only available on Ethereum Virtual Machine compatible networks. This technology unlocks a variety of use cases, such as privacy-first user and machine identification.

Nexera’s MetaNFT protocol is built on the ERC-721 standard for non-fungible tokens. This greatly increases the level of programmability of NFTs, which can be considered data containers for any class of digital assets. This allows developers to add and remove properties and restrictions from tokens, thus making them mutable without compromising non-fungibility. MetaNFT is configurable and can support a vast array of options for storing token metadata. They can also have non-transferable properties, allowing for “soul-bound” token use cases. mNFT smart contracts also provide a scalable payment layer for projects leveraging mNFTs, offering smooth and easy interoperability with other protocols.

As part of its integration with peaq, Nexera is building its Layer 2 protocol in ink! – The smart contract language of the Polkadot ecosystem. peaq with both EVM and Ink! compatibility will be the first Layer 1 network in the Polkadot space to feature the MetaNFT protocol in Ink!

peaq co-founder Till Wendler said: “Nexera’s mNFT addresses the shortcomings of today’s most popular NFT standard and provides developers with flexible tools that can be leveraged as part of any business logic. We look forward to making this standard accessible to all.”

This integration will allow peaq community builders to leverage mNFTs to power various use cases. Through the Nexera Protocol SDK, builders can take advantage of the mutability, configurability, and extensibility of mNFTs to power new use cases that require dynamic updates of NFT metadata, and address these in an automated manner. We can handle it. By design, mNFTs build on the unique non-fungible properties of ERC-721 tokens while allowing builders to develop faster and at a lower cost, as well as support current and future NFT standards. .

mNFTs can represent user or machine identities with properties that can be dynamically updated based on on-chain or off-chain information, and can be attached or detached according to user parameters, or smart contacts can be incorporated into This makes it possible to use his mNFT in solutions for building complex hierarchical ownership structures where machines can manage (own or rent) other machines, or in markets where machines can be jointly owned or rented by multiple users. can also do.

mNFTs can be used to build self-sovereign identity and self-management solutions where user or machine information is protected with a zero-knowledge base and can be used as a privacy-first Know Your Customer (KYC) tool. User and Machine. This opens up more use cases for reputation-based applications and use cases, such as reputation checking for future machine lessors and secure crowdfunding.

AllianceBlock co-founder Rachid Ajaja said: “Serving as data storage, modifiable, extensible, and configurable, these NFTs will be the perfect building blocks for any business logic that runs on peer-to-peer and privacy-first principles. MetaNFT enables a huge amount of use cases that have never been possible before, such as verifying your identity on an EV charger or verifying a seller’s validity on a machine data marketplace without revealing your personal information. This ensures privacy and security without compromising the value of decentralization, which is something both peaq and AllianceBlock strongly believe in. This partnership will extend the MetaNFT standard so that it becomes We are excited to have access to the community.”

Nexera’s MetaNFT smart contracts are audited by Omniscia, a leading smart contract auditing service, to ensure high security and reliability. The integration with peaq is part of peaq’s expanding partnership with his end-to-end DeFi solution provider, AllianceBlock. AllianceBlock has also integrated peaq into its Fundrs peer-to-peer funding platform, allowing developers building peaq to raise funds across the blockchain space.

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