NFT NEVER SLEEP

Utility NFT will be a blast in the future!

NFT Never Sleep is a community lead project. We build a NFT derivation protocol on near, to incentive community co-build its NFT ecosystem. NFTs can represent so many vastly different types of assets. Ownership of bonds and real estate can be represented as NFTs, as can art, in-game items, and music.

But we also see few challenges inn NFT ecosystem.

To the newbies: Trendy NFTs are expensive to own. But NFT as digital utility assets, its utility can be separated from its ownership, which means buyers do not need to buy and own the NFT at all. They can easily pay a certain fee and experience the NFT to play around. To the owners: NFT liquidity is always a challenge, and there’s even limited adoption cases. While NFT as an open IP protocol, NFT can be used to produce derivative assets on its design and concept, generating profits along with its original NFT.

To the creators: more users, more derivative assets, more income.

NFT Never Sleep is an NFT derivation protocol on NEAR, to accelerate massive NFT adoption into multi-metaverse. For example, a Misfit NFT Owner can mint a one-month derivative NFT to others who want to have fun within Near Hub, Youminter, Twitter Blue, etc.

With our dual token design, we aim to bring various NFT communities to participate and co-build NEAR metaverse ecosystem.

Firstly, search the NFT information, and connect with your Near wallet. There are two different roles, one is the NFT owner, and the other is the renter. The renter will be required to deposit one NEAR to prevent from invalid offering. The owner can choose to reject or accept its offering. The renter is able to check the latest NFT information, which will include the bidding price, expiration date, etc. After all, the renter can deploy the new NFT into different Web 3 application. Once the NFT owner wants to sell it, they can easily use the notification function to enable that. The team plan to have its integration with Near wallet in the future.

Smart contract part: On designing the smart contract, we focused on 2 things: Create a trustless channel for bid between producer and consumer. Make the NFT reification process trustless Our procedure is simple. 1.Offer bid. 2.Taker offer. 3.Claim NFT We have a expire mechanism, so producer don’t need to reject unreasonable offer by himself. There’s also a deposit mechanism, every bidder need to deposit 1 near in case of flood bid attack. We use NEP 171/177 and cross contract call design, so the owner of the NFT can be verified on chain. Atomic reification process. When a bid is accepted by the producer, consumer can call a contract to finish all the process including mint NFT, pay the bill and get the deposit back. When producer take offer of the bid, contract will verify if the producer is the owner of the NFT by cross contract call.

The new minted utility NFT is related to the origin NFT by sharing unique ID in its metadata. And NFT Never Sleep will show in the title of the new NFT, so other people will know it is minted by our protocol.

There are two tokens in NFT Never Sleep A token is a Proof of behavior token of the protocol, which to incentivize more users to build and develop the NFT utilization

B token is the governance token, to allow the token holders to determine the development of the protocol.

The team is composed with a group of NEAR early backers and community members, with different background and function from product/smart contract/ token economics, etc.

Thanks everyone for having ue for near Hackathon. We are looking forward to having a more development and achievement in the future.

TRY IT OUT :

ACCOUNT: nft_owner.testnet PASSPHRASE: trend lend orchard real title beef dad chaos future chest bicycle badge

ACCOUNT: nft_newbie.testnet PASSPHRASE: burger position hurry symbol allow market divide clean welcome okay excuse essay

Built With

• near
• near-api-js
• rust
• vue
• vue-near