New NEP standard? Trinity Foundation showing new things in Korea!

At the final stop of NEO APAC tour in South Korea, David Li, the founder of Trinity, talked about the on-going process of Trinity. At the same time, he also announced that the Trinity Foundation will release new NEP standards supporting NFT.

Trinity launched a beta version of Trinity on NEO testnet on Feb. 28, allowing users to set up nodes and implement basic functions such as instant transfer based on state channels. Trinity’s Community Contribution Incentive Program (TCCIP) has also allowed the Trinity community members to continue growing.

After release of the open beta version, members of the community who have successfully built nodes have also published tutorials on Medium.

At the seminar, David Li mentioned that, with the development of the Neo ecosystem, especially the development of blockchain-based games and applications in the supply chain industry, there is an urgent need for an NEP standard that supports NFT for Neo.

NFT stands for Non Fungible Token. It is generally held that the existing ERC20 and NEP5 tokes are fungible tokens. NFT assets belong to the same contract. They are created and circulated under the minting mechanism of the contract. Each NFT asset is unique, so the sum is no more than or less than 1 (which means they cannot be divided).

Though they have partially or entirely traceable history record, they share they same property. The best examples of NFTs are the kitties in Cryptokitties that have totally different properties from one another.

Trinity foundation believe NFT is the foundation of future blockchain applications, for example, putting in-game core assets and supply chain data or even assets on-chain. In the future, NFT asset transfer will be used in more cases with higher frequency. Therefore, the Trinity network will be increasingly needed. That’s an inevitable choice as we develop the Neo ecosystem and land our projects according to our roadmap.

Meanwhile, Singapore-based Rai Stone Technology is also discussing cooperation with development teams of blockchain-based games, and incubating products to demonstrate our technology. Therefore, it is required that an NFT standard be established on Neo.

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