Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

RMRK implements new features such as multiple resources, priority switching, and redundant storage, allowing for a richer complexity of information and forms of interaction that NFT can carry.

On December 25, 1990, Tim Berners-Lee, a British scientist then a researcher at CERN, used Hypertext Markup Language, better known as HTML, to make the first communication with a server, marking the birth of the World Wide Web. Since then, we have been branching out from the already lit technological tree of the World Wide Web, and then we have experienced more than 20 years of rapid development of the Information Internet, which has dramatically changed the way we live.

In 2009, the release of Bitcoin marked the first ground-breaking application of blockchain technology, which finally made us feel the excitement of the Great Naval Era again.

If the World Wide Web is the Internet of information, then blockchain is the Internet of value. Currently, digital currency based on the technology of Fungible Token has become the main carrier of value, and digital currency and its derivative applications were once considered to be the application boundary of blockchain technology until the hot concept of NFT (Non-Fungible Token). It is as if people have discovered a new land!

NFT: The HTML of the Internet of Value
HTML is a standard markup language used to create web pages, which is essentially a kind of structured information carried by web pages, and NFT is not a kind of structured information describing the target object? The difference is that NFT is unique and carries value along with the information. We can think of NFT as “information that carries value” or “value that carries information”.

HTML has been evolving since its inception, with major iterations up to HTML5 and countless refinements and optimizations, and the NFT standard has also been evolving since its inception.

ERC721 – the first standard to represent NFT assets, created by Dapper labs Dieter Shirley and brought to market by CryptoKitties, ERC721 provides a mapping of a unique identifier representing a single asset to an address, which represents the owner of that identifier. Subsequently, the Enjin team created ERC1155, which maps assets and an integer number to addresses, meaning that ERC1155 allows for a “multi-version limit” of NFT.

ERC721 is currently the most widely used NFT standard, followed by ERC1155. In addition to this, there is ERC-1523 (insurance policy NFT), ERC-998 (nestable NFT), EIP-1948 (variable information NFT), EIP-2981 (NFT royalty), and others. Each of these NFT standards has been improved in specific directions to suit specific business needs, however, they are not flexible enough to meet more complex scenarios such as gaming, social, and Metaverse.

HTML has evolved over decades and has so far become very sophisticated, enabling rich functionality such as responsive design, animation, and even page-based games. NFT, by contrast, seems to be too simple in its description structure and functionality.

Games and social (including the Metaverse), are the two scenarios in which NFT captures value. Without these two, many NFTs just lie rusting in the wallet and are not useful at all. In order to make NFT more useful, we need more flexible and feature-rich NFT standards.

RMRK may be just what we’re looking for.

RMRK founder Bruno said in his blog, “RMRK is the most advanced NFT standard available, and if you’ve experienced RMRK, then you’ll think that all other NFT protocols are from the Stone Age.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

Bruno is a very active contributor of proposals to the Poca community, and RMRK is based on Poca’s canary network Kusama. Bruno is also a rebellious programmer who always adds the words “stupid” and “boring” when talking about words like “rules” and “restrictions”. The goal is to build a more robust NFT standard for the Poca ecosystem.

Let’s take a look at some of the powerful new features that will be available in RMRK (mainly RMRK2.0).

Multi-resource NFT (Muti-resource NFT)
A muti-resource NFT is an NFT that has multiple resources that correspond equally to it. often, we need to make the NFT correspond to multiple resources. for example, if an NFT represents a video, then when Opeasea loads, the NFT needs to render a video cover. Then both the video file itself and the video cover need to be resources for that NFT.

RMRK supports adding multiple resources to an NFT. Based on a multi-resource NFT, along with some code commands, multiple use cases for the NFT can be implemented. For example

Priority Switch (Priority Switch)
The Dragon Blade NFT can have beautiful stylized drawings (left) and realistic renderings (right), both of which are resources of this NFT. The user can switch the priority of the display by issuing a SET command against the priority field. If the left image is 0 and the right image is 1, the left image is displayed by default when the priority value is [0,1] and the right image is displayed by default when the priority value is [1,0].

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

Redundant Storage (Redundant Storage)
Multi-resource NFT enables backup of NFT assets on a variety of platforms. Today, many NFT projects choose a central server to host your artwork, and when the server fails, they can make your artwork disappear. It may happen that.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

However, if NFT assets are stored on multiple storage platforms at the same time via 4 resources, such as Arweave, Crust, Filecoin and IPFS, then your artwork will be backed up and better protected.

Resource Adding
For multi-resource NFTs, sometimes you run into situations where you need to add resources after a period of time after the native NFT is cast, such as a different rendering style.

If the resources field of the NFT collection is set to variable, the collection issuer can create alternative resources for the NFT in the collection and then recommend it to the owner of the chain (RESADD), the owner can choose whether to accept this new resource ( RESACCEPT), if accepted, the resource will be updated or added on. In this way, the NFT becomes updatable, rather than static.

Conditional Rendering & Reactive NFTs
RMRK 2.0 NFTs use jsonlogic to add conditions to the NFTs.

The user draws a digital painting of the moon. This drawing has two resources: an image of just a moon [0] and an image of a lunar base on the moon [1].

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

NFT has a logic block like this.

… “logic”: [ { “>”: [“emotes.????” , 50], “priority”: [1, 0] // change prio based on condition == true },…
If people collectively EMOTE more than 50 ???? to this picture, switch the priority from [0,1] to [1, 0]. This means that if the rocket emoji exceeds 50, NFT will show the moon base by default.

The conditional parameters can be various, e.g. when the block height reaches as much or an integer multiple of 100, the NFT default display of resources changes. If combined with a prophecy machine (Oracle), it is also possible to introduce off-chain information as a conditional parameter, enabling more interesting variations.

NFT custom fields (Custom Fields)
The most powerful feature of RMRK is the ability to customize metadata fields. RMRK supports creating an NFT collection (Collection), defining the metadata structure, and then creating NFTs that are subordinate to that collection. each NFT within a collection uses the same metadata structure, and different collections have different metadata.

The German mathematician Leibniz once said, “There are no two leaves in the world that are the same”, and the same is true for NFTs. But we can define a set called “leaves” and build a variety of leaves based on the same metadata.

The NFT in RMRK follows the Opensea metadata property standard, but the RMRK NFT has variable fields that can be set by the publisher of the collection. As can be expected, this is done through the SET command.

When casting a collection, the creator can define its set of variable fields as follows.

…” mutable”: [“priority”, “resources”, “upside_down”, “mycustomkey”]…
Or leave it fully open at.

…” mutable”: [“*”]…
Or leave it completely immutable: …

…” mutable”: []…
This allows NFT collection issuers to fully customize their NFT metadata; NFTs within a collection will inherit their collection’s mutable fields, but each NFT instance can override them individually.

The ability to customize fields makes RMRK an extremely flexible NFT standard, and makes RMRK a superset of all previous NFT standards.

Nested NFT (Nested NFT)
Similar to ERC998, in RMRK the owner ID of an NFT can be either an Account in the chain or the ID of another NFT. the nestable feature, combined with multiple resources and custom fields, allows for some interesting use cases.

Bundle Transfer
A combination of NFTs with a nested relationship can be transferred along with its child NFTs as soon as the parent NFT is transferred. For example, if you have a game account, the game account is in the form of NFT, and there are various game props (inventories) under the game account, as a child NFT of the game account NFT, then you can sell your account and the props under the account all at once, instead of transferring them one by one.

Composed NFT: Parts & Slots
We can combine multiple elements such as vector graphics (SVG) or PNG images to create a composed NFT. Parts can be divided into Fixed parts and Non-fixed parts, which we also call Slots. Each part has a specific parameter, namely the number of layers, the higher the number of layers, the more forward the display, the background layer is 0. Those who have experience with P-charts should be able to understand this logic more quickly.

Slots can be used to equip (equip) items (items), equipable items are also NFT. of course, most of the time we do not want any NFT can be equipped as items, we can predefine the equipable NFT collection (Collection), only the collection of NFT can be equipped as items on. Also, equipped items can be unloaded (unequip) at any time, and some items cannot be unloaded after they are equipped (determined by slot properties), and can only be burned (burn) if they are not wanted.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

The RMRK renderer will combine fixed part elements and elements already equipped into slots according to the layer order to form a layered image of what this NFT looks like at this moment in time.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

The Kanaria Bird Collection is a conceptual NFT product from the RMRK team that allows birds with different appearance characteristics (trait) to be hatched by buying eggs, which is equivalent to buying a blind box. The product is the first use case for RMRK’s implementation of combinatorial NFT, and is also part of the RMRK team’s INO (Initail NFT Offering, or Initail Collection offering) crowdfunding campaign. the RMRK team has said that they would like to help more projects adopt The RMRK team has expressed their willingness to help more projects use RMRK to implement their INO.

Crowd Creation & Social Interaction
If we open up access to changes to one or more parts of the NFT to everyone or a specific person, then we have an NFT that is open for creation.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

In addition to this, we can also enable interaction between the artist and the collector. For example, collectors Inscription rights: NFT artworks can have the painting itself as a background layer, while opening a slot layer to the owner, and the collector can place their own inscription (or other elements) as a layer in the painting to show others the ownership of the piece.

The RMRK team has also developed an interesting interaction in Kanaria called “EMOTE”, which is the act of a user putting an emoticon on an NFT. When someone shares his NFT, other users can post emoticons on it (consuming trace amounts of KSM), just like liking or commenting on a piece of content on a social networking site, except that the comments are limited to emoticons.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model
Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

Kanaria held an art drawing contest for the first 40 eggs with the most emojis to paint the future hatchlings of Kanaria birds based on the emojis, and the competition was fierce, with as many as seven entries for the same egg.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

Since 3 specific expressions must be collected in order for the egg to hatch a bird, Kanaria also gains a certain characteristic of fission propagation. I don’t know if EMOTE is implemented using a sub-NFT slot, but there is no doubt that such a feature can be achieved using a special slot, simply by making that slot support the addition of an unlimited number of sub-NFTs, and that they can be added by anyone.

NFT DAO: Fragmented Ownership
Officially this feature will be available with RMRK 2.5. For many people, some expensive NFTs may be out of reach, but they may want to own some of them. NFTs in RMRK can be subdivided into FTs, so holders of these tokens can not only own a portion of the NFT, but can also organize and manage the NFT as a DAO.

To subdivide the NFT into FTs, the holder needs to pledge a certain amount of RMRK tokens. This is to prevent abuse of the function.

The technical solution of RMRK
RMRK is the NFT standard for the PoC ecosystem and is currently implemented by scribbling and marking in the extended fields of the Kusama relay chain, while RMRK itself can be understood as a set of rules for interpreting scribbles, which is where the RMRK name comes from (remark). This implementation is similar to Bitcoin’s colored coin and somewhat like USDT in onmi format, so RMRK does not require the support of a smart contract.

Although all the NFT state transitions are already contained in the Kusama chain’s graffiti, Kusama does not verify whether the current user owns the NFT when an NFT transaction is required. This would undoubtedly result in a huge amount of computation. Therefore, RMRK has developed a module that scans the Kusama relay chain, stores RMRK NFT events, and translates them into the latest state of RMRK NFTs, which verifies the legitimacy of transactions when operating on RMRK NFTs.

Any blockchain built by Substate, whether it is a parallel chain or not, and whether it supports smart contracts or not, can integrate this module to support the RMRK NFT standard. This is a very smart technical solution, even if it may not be the final solution, as it allows NFT business to run in the Poca ecosystem in the fastest and simplest way without waiting for the official development progress of Poca, without smart contracts, and without bidding for parallel chains.

Token economic model
The RMRK token is named RMRK, and to distinguish it, we write the RMRK Token as $RMRK. $RMRK has a total of 10 million pieces.

First, $RMRK will serve as the governance token for the RMRK standard, and holders will be able to modify the relevant parameters, such as the amount of $RMRK required to pledge to split NFT into FT, through a governance vote.

Second, $RMRK will serve as a governance token for the Singular platform (singular.rmrk.app – the NFT distribution and trading platform developed by the RMRK team). There is a review period to issue an NFT on Singular and make that NFT visible on the home page, favorites list, and other discovery pages. You will need to pledge some $RMRK. if the review period passes and no one reports your NFT for plagiarism, pornographic violence, or any other violation of the terms, you will get your $RMRK back. accordingly, if you want to report someone for posting an offending NFT, you must also pledge $RMRK. The winning party gets their token back and a small portion of their opponent’s token, with the rest being burned, thus reducing supply. RMRK holders will be able to vote to adjust governance parameters, such as the length of the review period and the number of tokens that need to be pledged during the review period.

Third, RMRK is an underlying NFT standard, and unlike independent NFT public chain projects such as Unique Network, Efinity, NFTMart, etc., RMRK is equivalent to layer0 of NFT, and there may be many NFT public chains that adopt the RMRK standard, when you need to cross-chain casting, cross-chain transfer when you need to cross-chain casting, cross-chain transfer, cross-chain pending NFT, will need to pay $RMRK.

Fourth, applications that adopt the RMRK standard, whether they are trading platforms, Metaverse, games or collectibles, or even non-NFT applications, will become its eco-applications. As an active contributor to the polka ecology, with extensive connections to many polka ecology projects and as a technical advisor to several polka projects, Bruno, the RMRK initiator, will provide strong support for the development of the RMRK ecology. With the development of the ecology, the usage scenarios of $RMRK will be very broad.

Token allocation.
FairDrop: RMRK will attempt to distribute 100% of its tokens to holders of Kanaria eggs, a crowdfunding campaign launched by RMRK that will raise funds by offering virtual eggs NFT. There are 4 levels of virtual eggs, Super Founder, Founder, Rare and Limited. Those who purchase the virtual eggs will each receive.

Super Founder : 32362.4595469 $RMRK

Patriarch : 21574.9730313 $RMRK

Rare : 4314.99460626 $RMRK

Limited : 431.499460626 $RMRK

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

Funding Status
On June 3, 2021, RMRK received $6 million in funding, including $2 million from Kanaria Virtual Egg crowdfunding and $4 million from direct institutional investment from D1 Ventures, YBB, PAKA, LD Capital, Signum Capital, Carbon Blue and others. Carbon Blue and others.

According to RMRK’s official Twitter post, these institutions also joined the investment on June 10, including DFG, Moonwhale, Fundamental Labs, and IOSG.

Five minutes to understand the Polka Eco NFT infrastructure RMRK features and economic model

Summary
Bruno’s statement that RMRK is currently the most advanced NFT standard is not a delusion; RMRK implements a series of innovative features that allow NFT to carry information of almost HTML-level complexity and interaction, bringing NFT’s descriptive and interactive capabilities to a new level. games, and the development of Metaverse, or the future of everything on the chain, all have important foundational significance.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/five-minutes-to-understand-the-polka-eco-nft-infrastructure-rmrk-features-and-economic-model/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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