Our inspiration for NEP 819 is Mintbase's utility NFTs! We have been inspired by their utility NFTs for a long time and thought about the possibilities beyond their initial use case. For NEARCON 2022, Mintbase sold NEARCON tickets on their marketplace. The Marma J Foundation purchased one of these tickets, but when we arrived at NEARCON, we decided not to burn it as we would lose the memorabilia of the ticket.
When you purchase a ticket for a concert, the ticket is typically scanned and then you are granted entry. In this scenario, you get to keep your ticket and hold onto the memory of the concert! With utility NFTs, upon the burn event, the NFT is destroyed and you no longer have access to the memory.
What it does
NEP 819 is a standard for burning NFTs. It acts as an extension to NEP 171 and requires NEP 177 & 297. With this standard, when a user chooses to burn their NFT, they will have the option to complete a "utility_burn" which would create an NFT receipt. This receipt contains metadata from the original NFT, including an image of the NFT as well as data about the burn event.
NEP 819 is especially useful for utility NFTs; for users who wish to have a keepsake and/or receipt of their purchase.
How we built it
Our team explored the existing standard and NEPs for NFTs on NEAR Protocol and developed the concept and process flow for burning beyond these standards. Our team consists of the project leader, marketer, and developers. After setting up the relevant standard, we then implemented the standard (extension) into an on-chain NEP 171 contract.
Challenges we ran into
So far, we have not run into any major challenges. The 48-hour time limit to complete the hack has been a barrier, but this has also forced us to be efficient with our time and focus on a simplified hack.
Accomplishments that we're proud of
Our team is proud of finding a need and use case for NEP 819 from the moment we arrived at NEARCON. We are proud of successfully forming a team and creating the first iteration of a helper function for NFTs. Also, as we have been discussing this new standard (extension) with various members of the Near ecosystem live at NEARCON, we have had a lot of positive feedback!
What we learned
As we have participated in the NEARCON IRL Hackathon, we have learned that the possibilities for NFT events are practically endless. NEP 819 addresses a need for options upon burning and offers a dichotomy for users who wish to have a receipt. However, we have learned that allowing for this function is the beginning of endless possibilities for burn events and NFTs.
What's next for NEP 819: THE BURN STANDARD FOR NFTs
We believe that NEP 819 is the beginning of offering numerous on-chain flows upon burning. In the future, we would hope to extend the standard and build upon it to allow for more possibilities, such as:
- NFT evolution (wrap NFT in contract with counter. As counter > evolution value, utility_burn)
- NFT receipts (ticketing, coupons, memberships)
- More efficient on-chain gaming with the ability for collaborative action
We are already working with various NEAR ecosystem projects to start getting ready for the upcoming MetaBuidl hackathon coming up soon.
Click here to view our presentation for NEP 819!