Non-Transferable Token (NTTs) on EOS
After having launched Simple Assets, CryptoLions recently added also Non-Transferable Tokens (NTTs) into their digital assets standard. Simple Assets is a standard for digital assets, both fungible and non-fungible tokens, for EOSIO blockchains. NTTs will be mainly used as give awards and trophies or official certificates and licenses.
By using a digital asset standard as such, developers won't need to build all asset logic from scratch, saving hundreds of hours of work. In addition, it will be easier for third-party projects (eg. explorers) to retrieve the same assets saved in the blockchain, allowing for greater utility.
"We think that making NFTs sometimes transferable and sometimes not, muddles the pure expression of ownership which we strive to achieve with Simple Asset NFTs. NTTs are a distinct form type of property, operating under different rules, and deserve their own vocabulary."
Source: https://medium.com/@cryptolions/introducing-non-transferable-tokens-ntts-2f1a532bf170
Suggested News
Colin Talks Crypto: is Cardano better than EOS?
In some of his latest videos on Youtube, Colin Talks Crypto has often shared his view about Cardano (ADA), and given th...
BOSCore announced BOS Oracle
BOSCore developers recently announced the BOS Oracle. This is a service that provides verified external data for DApp s...
