CIP-NFT Equity

Developers CIPs
1

Placeholder for CIP-NFT Equity

(Work in progress)

CIP: ?
Title: NFT Equity
Authors: Roar Holte roar.holte@youblob.com
Comments-URI: CIP-NFT Equity
Discord: Youblob
Ideascale proposal: Online Makerspace
Status: Draft
Type: Standards
Created: 2023-08-12
License: CC-BY-4.0
Requires: CIP25 & CIP86
Relation: This effort will be presented for the Cardano Summit Hackathon 2023 [https://cardano.hackerearth.com/]

Material

Whitepaper: Whitepaper
Videos: https://www.youtube.com/@youblobdotcom
Beta release: https://www.youblob.com [can test blueprint functionality]
Mock-ups: https://www.figma.com/file/AnrAqPskGEO8CtpVio1R6Z/Youblob
Dora BUIDL: https://dorahacks.io/buidl/6531
Cardano Source code: Bitbucket

Abstract

  • A NFT Equity is a stock/share option allowing for Multiple Owners of a NFT to earn incentive
  • When selling a Blueprint NFT, the seller has the option to split/sell pieces of it, instead of its full 100%

User Journey Pre-requisites

User Journey

  • Ex: User A [25%], B [25%] and AI [50%] owns a Blueprint together.

ref: As defined in CIP-NFT Ownership, we allow for multiple owners (Team) when CREATING a Blueprint and introducing an incentive model to Blueprint Owners.

  • User A decides to sell their share (100% of the 25%) and sets a sales price for it through the system UI.

  • User B decides to sell a fraction of their share 10% of the 25%) and sets a sales price for it through the system UI.

  • After they are sold we are left with a new ownership that looks like this
    User B - 22.5%
    User C - 25%
    User D - 2.5%
    User AI - 50%

  • The Blueprint NFT generates some product sales after that and incentivises Blueprint Owners based on their allocated ownership

  • User E is interested in buying in on the Blueprint, and puts in an offer for ex. 30% with x value.
    Notification is received by all current owners. (Notifications can be disabled through dashboard)
    User D decides to sell their 2.5% and completes their sale. Offer for purchase is now 27.5% and is shown through UI. None of the others wish to sell.

  • Ownership updated to
    User B - 22.5%
    User C - 25%
    User E - 2.5%
    User AI - 50%

  • Purchase order is still active until cancelled by User E

  • We can look at this as a new DeFi trading system for NFT’s

Terminology

Motivation

Sharing is caring, splitting ownership around ideas (Blueprint NFT’s) and opening up for several actors to participate in the income streams that they generate.

Specification

Metadata

Metadata JSON schema

Metadata example including the transaction metadata label

Rationale

The format of the content field is required to be an array of 64 bytes chunks, as this is the maximum size of a JSON field in the Cardano ledger.
Tools, such as wallets, are required to recompose the content of the message.

The current Cardano protocol parameter for maximum transaction size, that will hold the metadata, is around 16KB.

Backwards compatibility

No backwards compatibility breaking changes are introduced.

Reference implementation

We leave the decisions, such as what and how to display communication messages, up to downstream tools and wallets.

Copyright

This CIP is licensed under CC-BY-4.0