1. Oracle Blockchain Platform Digital Assets Edition
  2. Generic Token Frameworks
  3. Non-Fungible Token Framework

Non-Fungible Token Framework

The non-fungible token framework uses the extended ERC-721 standard that is supported by Blockchain App Builder.

Non-fungible tokens (NFTs) are unique digital assets that represent ownership of a specific item or piece of content. Unlike fungible tokens, each NFT has distinct properties. Blockchain App Builder extends the ERC-721 standard to support the creation and management of NFTs, enabling developers to tokenize unique real-world assets (RWAs) and native digital assets efficiently.

Example use cases:
Digital Art
Tokenizing artworks to provide artists with a platform to sell and track ownership of their creations.
Collectibles
Creating digital collectibles such as trading cards, gaming items, and music, with verifiable ownership.
Property Records
Representing records as NFTs to simplify the ownership, transfer, and management of property.
Letters of Credit
Representing a letters of credit as NFTs to securely transfer trade finance documents, ensuring authenticity, transparency, and automated completeion of global transactions.
Intellectual Property
Assigning ownership of patents or trademarks to NFTs, facilitating easier licensing and transfer.

The enhanced version of Blockchain App Builder that is included with Oracle Blockchain Platform Digital Assets Edition supports the following functions.

  • Unique identifiers: Each NFT is assigned a distinct identifier, ensuring its uniqueness and traceability. Only whole NFT creation is supported, which means each NFT represents a unique, indivisible asset without fractional ownership. For information about fractional NFT support, see Combined Token Framework.
  • Metadata association: Attach metadata to tokens to provide detailed information about the asset such as descriptions, images, or external links. Metadata properties are fixed once the NFT is created.
  • Custom attributes: Specify additional properties that can be updated by the NFT owner.
  • Minting and burning: Manage the life cycle of the tokenized assets by creating (minting) and removing (burning) NFTs.
  • Ownership transfer: Transfer ownership of NFTs between parties with secure methods that ensure authenticity and provenance.
  • Locking: Lock an NFT in a vault so that it cannot be transferred to or burned by any user.
  • Role operations: Assign and enforce roles such as minter, burner to provide specific privileges to any user account.

Oracle Blockchain Platform Digital Assets Edition includes a chaincode package and a wrapper API package for the non-fungible token scenario. The chaincode package includes the NFT Art Collection Marketplace sample, which illustrates use of the framework. The wrapper API package extends the REST API to support operations specific to the NFT Art Collection Marketplace scenario.