Doc Navigation Links
    Add a header to begin generating the table of contents

    Non-Fungible Assets and Tokens (NFAs and NFTs)

    Catenis supports the issuance and transfer of both, Fungible and Non-Fungible Assets. Here, we will cover Catenis’ Non-Fungible Asset (NFA) concepts and general functionality. 

    Catenis’ NFAs are a special type of Catenis Smart Assets. These assets are unique and have enhanced functionality beyond traditional NFTs (Non-Fungible Tokens).

    What are Non-Fungible Tokens (NFTs)?

    NFTs are digital assets created on a blockchain that can be identified through their unique qualities held within its metadata. Due to how they are designed and issued on an immutable blockchain, NFTs cannot be replaced, altered, or changed in any way. Once created, they will be permanently etched on the blockchain’s public ledger for all to see.

    Note: The term fungible means that another identical item can replace an item or good with the same value. An example of this would be the US Dollar. A $1 bill is worth just the same as any other $1 bill. You won't gain or lose anything if someone asks you to trade one dollar bill for another.

    Non-fungible is the opposite of this concept and cannot be exchanged as they are unique (only one of its kind exists), and it carries its own unique sets of attributes.

    If you purchase an NFT, you will be the only person in the entire world to hold that asset – and you can prove it via its cryptographic reference stored on the blockchain. This ability lends itself exceptionally well to many industries and can easily map to unique real-world goods, from art to retail products and more.

    What are Non-Fungible Tokens (NFTs)?

    A Catenis Non-Fungible Asset is a category of Non-Fungible Tokens. When creating a Non-Fungible Asset, you can mint one or more units of unique Non-Fungible Tokens. Understanding this relationship and the difference between Catenis’ NFAs and Catenis’ NFTs is key to understanding how Catenis handles NFTs generated in our system.

    Note: By way of an example, using the Bored Ape NFTs. The general idea of the Bored Ape would be the NFA, as that is a category of the NFT. The unique variations/personalities of these Bored Apes map to specific NFTs.

    Non-Fungible Asset Structure

    When minting a Non-Fungible Asset (NFA), you will have the ability to set many properties in the metadata for both the NFA and the NFT. These include Name, Description, content type, etc. Our Non-Fungible Assets take it a step further, and you have the option in the properties section to state whether you can Re-issue more Non-Fungible Tokens or not. There’s also parameters that allow you to control the ability to encrypt your token’s data and custom metadata. These metadata properties get set for each NFT issued when creating a Non-Fungible Asset and minting its corresponding Non-Fungible Token units.

    For example, when minting NFTs, you define if you want your Non-Fungible Token’s content (gif, movie, document) to be encrypted when creating the Non-Fungible Assets.

    Association:

    • Non-Fungible Asset
      • Non-Fungible Token 1
      • Non-Fungible Token 2
      • and so on

    Note: To see a full list of the functionalities of Catenis’ Non-Fungible Assets and Tokens, please visit our developer API documentation here

    Each minted NFT is uniquely identified by a token ID and can have custom properties. The metadata properties of each token can be extended via custom properties to uniquely describe each NFT further. Additionally, the protocol supports sensitive properties.

    Sensitive properties are custom properties that can be added in which their values are sensitive and thus encrypted before storing.

    The Catenis NFT protocol can support content of any type or size, including movies, songs, large documents, etc. Because of this, it also supports the asynchronous processing of large amounts of data. Asynchronous processing means you can include large amounts of data as an NFT and wait for a response when the processing finishes.

    Related Articles

    CompanyElement_SM_LightBackgrounds
    How can we make things Better for you?
    • Accepted file types: jpg, gif, png, pdf.
    • This field is for validation purposes and should be left unchanged.