As we continue to unveil the features of the ORIGYN NFT, we’ve been dropping facts about our NFTs in a series of short videos on our Twitter and Instagram. Now that we’ve shared the first batch, let’s take a look at the first five features of our NFTs.
Addressability is a key component of what the ORIGYN NFT offers to improve user experience. The media inside the NFT can be queried by using an https:// URL from web or mobile.
Because current NFT standards store media off-chain (more on this later), if a server goes down, what’s contained in the NFT can no longer be accessed. ORIGYN NFTs can always be accessed easily via a URL, so they are not beholden to any centralized gateways.
Traditional NFTs require “middlemen” who connect buyers and sellers. This leads to additional fees for one party, if not both. ORIGYN NFTs are marketable NFTs that can do away with the middlemen, putting the object itself in the role of market maker. The costs reduced from the “rent” that has been saved is rewarded to the owner instead.
Nothing’s worse than buying a new gaming console and realizing it can’t play any of your old media. We don’t want to do that. The ORIGYN NFT will support current NFT standards to facilitate companies that want to transition, as well as allow future iterations of NFTs to use the same standard.
We mentioned previously that today’s NFTs store data off-chain. If AWS goes down for a day, effectively so does your NFT if the data is stored on an Amazon server. This creates issues with accessibility; moreover, it creates real problems with the preservation of data.
Our NFTs will store data on the blockchain itself (the storage and cost of this is made attainable via the Internet Computer) with native redundancy and global distribution. Since data security and permanence are key to enterprise-level usage, this feature is paramount to the next generation of NFTs. Now, even if the organization that issued the NFT goes out of business, the NFT itself will still be fully functional.
Furthermore, due to the nature of storage for today’s NFTs, 3rd parties can block access to your NFT through various methods. In fact, all hosting providers on an IPFS (InterPlanetary File System) can “unpin” an NFT’s media to disallow access even to the owner.
To solve this, ORIGYN NFTs will be self-contained addressable objects that can be accessed from any internet-connected app. This makes each NFT on this new standard more accessible without worry of 3rd-party interference.
Those are the first five features of the upcoming ORIGYN NFT standard. More tidbits are continuing to drop on our social media channels, so stay tuned to Twitter and Instagram for the latest information on this exciting new paradigm of NFTs and Web3 solutions.