NFTitle

Establishing a standard for dynamic NFT property title deeds, leveraging Chainlink and eConveyencing APIs to create a digital ownership record, maintaining backwards compatibility with legacy systems.

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Inspiration

This project is inspired by the need to onboard legacy paper or airgapped title deed systems to the blockchain, as well as providing a title deed infrastructure and standard for developing areas of the world.

Each NFTitle ties together information from multiple APIs, providing a SSoT audit trail that both mirrors (and contains) its legacy paper title deed, and ties together property information that usually needs to be found across multiple government departments and metadata APIs.

eg

Local council/shire/municipality: School Zoning: Estimated Property Value in ETH: Caveats: Easements: Boundaries & Building Envelope: Floorplans: Building Permits: Registered Service Providers: Geography & Topology: Leasing and Mining Rights: Environment & Native Title:

What it does

Seeing real estate tokenised and interfacing with legacy systems through modernisation efforts such as eConveyancing APIs and infrastructure is encouraging, however the decentralised nature of property and property portfolios now lacks an over-arching record of ownership like a title deed, with the ability to perform IFTTT actions based on real world data inputs, and allow eventual frictionless title deed transactions via the controlling NFT.

How we built it

Using the power of our minds to imagine what could exist, we then began to replicate that in a real world environment.

IPFS is used to upload scans of original documents, plans, and digital images of the property. Some of these fields can later be updated by the NFT owner, while some remain static. A subgraph will be maintained using The Graph to confirm that new minting are not duplicate addresses. Chainlink will be leveraged in most dynamic fields to interact with local council, government, planning, and service providers to create a comprehensive "at a glance" view of amenities, property value, and other useful items to see in one place

Challenges we ran into

Finding public open APIs that don't require a signup or delay to test and use. Lilian:

  • figuring out how to add lots of variables when Solidity does not allow so many

Accomplishments that we're proud of

Whittling a v1 MVP down from many possible scenarios and product paths.

What we learned

That there are a range of unknown unknowns. Lilian:

  • Lots about the quirks of Solidity.
  • integrating with Chainlink + pricefeeds + VRF is not as hard as I thought it'd be

What's next for NFTitle

-Frictionless transactions via NFT marketplace while performing IFTTT actions across eConveyancing APIs -An NFT art-like royalty structure for property developers and speculators -Full tokenisation of properties and decentralised property portfolios controlled by the NFTitle via compatibility/composability with industry-leading real estate tokenisation projects -DeFi lego block composability/compatibility

Built With

  • chainlink
  • econveyancing
  • erc-998
  • ipfs
  • oracles
  • thegraph
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