Interestingly, our advanced Smart NFT technology is one of the features that has attracted the most interest from other project teams, and has given birth to multiple current partnerships as well several that are still under wraps while we establish the scopes of our collaborations. To sum it up, 2020 was a year where we not only launched triple chain interoperability, but we significantly upgraded our NFT standard and implemented vast amounts of additional NFT functionality. Some of the features of a Phantasma Smart NFT:
A Phantasma Smart NFT can be composed of an unlimited number of NFTs. This feature is already in use by our gaming partner GOATi in their real-time strategy racer 22 Racing Series, where every single hypercar that you car race at upwards of 1000 kmph in-game is composed of 20-30 different individual NFT car parts. Inside the game the cars can be broken down into their individual parts, mixed and reassembled into a hypercar NFT again. This is groundbreaking and basically unheard of in the NFT space.
During the gaming convention PAX Australia last autumn our partner GOATi premiered a world first with their time-limited game licenses – an NFT distributed to the gamer’s wallet which gave full access to their game for the duration of the gaming convention, but no longer. This opens up the possibility to “try before you buy” without limitations, providing access to music, movies or other content for a set amount of time. Rent a movie for the weekend? Get a 7 day unlimited Netflix access pass? Timed software licenses? It’s all possible with Phantasma Timed Smart NFTs.
On expensive and slow blockchain platforms it’s common for the NFT minting process to take up to a couple of days, and if there’s congestion you’ve got the choice between paying exorbitant fees to get something quickly or wait it out until the chain is calm again. On Phantasma, developers and artists don’t have to wait, and nobody has to pay insane fees in advance without knowing whether they will even sell their goods. Instead, the moment a purchase is made by the customer, the NFT is minted instantly at the cost of a fraction of a cent to the developer, and delivered straight to the customer’s wallet. This provides a smooth user experience and avoids fleecing developers who just want to create cool stuff
Nesting and multi infusion of assets
On Phantasma, you can infuse assets inside your NFTs to give them a baseline value, or to create a bundle of things you want to sell for example. You can infuse 100 SOUL, 50 KCAL, 1 ETH and for fun 2 NEO too into the same NFT if you want, there are no limitations. Not only that, but you can infuse an NFT into an NFT, providing opportunities for treasure chests and tons of other use cases. Already, we have artists who infuse related artwork NFTs into a single NFT and put them up for sale as a bundle at a discount. But being Phantasma, we don’t stop there. That NFT you infused with another NFT? You can infuse that into yet another NFT. Think NFTs infused into NFTs infused into NFTs infused into… you get the concept. NFTception – no limits.