Dec 12, 2022
bloXmove NFTicket: versatile, dynamic NFTs for business
NFT: Non-Fungible Tokens are on almost everyone’s lips. We see bored apes, crypto punks and other artwork, airdrops by brands like Nike, we get to see Christiano Ronaldo offering himself up for worship on Binance and even traditional brands such as adidas, Douglas and Mercedes are entering the arena. The art scene in general and with them luxury goods, fashion and entertainment industries are salivating over this new token utility providing them with new revenue streams.
Power to the artist — automatic revenue distribution — disintermediation; NFTs seem to offer a complete rearranging of how digital content — and most of all the associated rights and revenues — is delivered to the consumer.
Well, that’s all beautiful — but there is so much more to having uniquely identifiable tokens, having undisputed ownership and being able to hold data and links to external data.
We believe in action as the best form of traction, let’s show you what we mean by diving deeper into our recently launched bloXmove NFTicket solution.
NFTicket: Five Core Functions
We, bloXlab — the Token Engineering Team of bloXmove, designed the NFTicket protocol and its APIs to provide the following functionalities out of the box: (for more details, please scroll down)
- Voucher
- Coupon
- Tickets
- Collectibles for collection-based membership
- Certificates of ownership, e.g., Renewable Energy Certificates or certifications e.g., Academic Proof
NFTicket launch on Polygon — airdrop included
Our live demonstration is the first of five roadmap steps through which we will release the NFTicket protocol and suite of APIs.
The demo showcases a fully programable NFTicket voucher. The voucher is issued by an Issuer — in the demonstration that’s the airline whose flight got delayed. This voucher can now be accepted (redeemed) by any service provider who fits the service description the airplane set. It offers a fully digital and instant possibility to that the airline can sweeten the wait for its customers
In our case, those service partners are the restaurants in that airport who will provide services for that voucher — and will be instantaneously reimbursed by the NFTicket protocol, which handles all service billing and accounting through smart contracts. There are no intermediaries, such as payment providers or voucher companies involved.
In addition, the NFTicket is also programmed to act as a virtual debit card which can be topped up with ERC20 tokens.
Just like a debit card, the ERC20 tokens are not sent to or visible in the user’s wallet. Rather, they are managed within the account module of the NFTicket smart contract.
They can be claimed or utilised by the owner at any point. In the pilot we demonstrate that by providing a Claim button which transfers the ERC20 token out of the NFTicket into the user’s wallet.
We showcase this function by using it to airdrop 37 BLXFT tokens to the first 650 users — which we will redeem 1:1 for BLXM tokens on BSC.
Test-drive our NFTicket demonstrator — WHAT’S IN IT FOR ME?
- Learn about a fully NFT-based service process, our ‘how-to-guide’ supports you.
- Own a cool NFT — viewable and tradable in your wallet of on OpenSea
- The voucher for participating in the airdrop: be one of the first 650 users to get 37 BLXFT — which we will redeem 1:1 for BLXM tokens on BSC
- Be 1 one of the first 10 users — and win a whitelisting place for the upcoming bloXmove NFTicket Collection in Q1 2023
NFTicket — the web3 container for Tickets, Credentials and Ownership
We needed a decentralised solution to manage and bill mobility services
We developed ‘NFTicket’ when we were trying to find a way to manage mobility rentals and charging process in a completely decentralized way.
By this we mean that service providers, customers and optional resellers can interact without the need for onboarding, verification or custodial services by 3rd party intermediaries.
This is truly Decentralized Mobility (#DeMo) — which is why we called the company through which we will launch such a “Decentralized UBER” exactly that:
Decentralized Mobility Ltd., registered in Nigeria, is where we will launch our services in Q1/2023.
The result is NFTicket, which handles all the ticketing, access control and revenue distribution logic for Decentralized Mobility Ltd.
Ask yourself “what is an NFT?”
Our answer was surprisingly simple and tremendously powerful: it’s
a unique, identifiable token with the ability to reference internal and external data.
The external data — also known as metadata — is what most of you see when you buy or think of buying NFT art.
This external data plus any number of internal state variables can also be used for a vast range of business services.
The NFT token layer (the ERC721) always manages and secures ownership and uniqueness.
Ask yourself “what’s an ERC721 smart contract?”
ERC721 is the Ethereum standard which defines the programming model for NFTs. So, an ERC721 smart contract is the chain code which realises the logic and functions of an NFT.
This smart contract acts as a registry which mints tokens - the NFT — and identifies them with a serial number, thus ensuring uniqueness.
The ERC721 contract then applies software logic to the conditions of the transfer and proceeds to transfer this token to its new owner. An owner can always be irrevocably determined by the wallet to which it has last been transferred.
For traditional businesspeople it can therefore be best described as being as:
- An ERC721 smart contract is a decentralised, secure registry.
- It manages ownership and exchange of ownership for unique and identifiable virtual assets.
- Assets are tied to NFTs by anchoring (1:1) their unique identifier to the identifier of the NFT.
NFTicket — NFTs with integrated workflow and settlement
We combine the security and versatility of NFT-based tokenised ownership with the well-established flexibility and ease of programming of API-as-a-Service (APIaaS)
NFTickets can be programmed to act as vouchers, coupons, tickets, membership passes or certificates of ownership (e.g., Renewable Certificates, membership or academic credentials).
bloXmove has encapsulated this through simple APIs and webhooks (aka callbacks) which make it easy for non-crypto experts to utilise the protocol and integrate it into their own business applications.
In addition, we extended the standard NFT protocol to be interoperable with Verifiable Credentials (VC). VCs are based on Decentralised Identifiers, the digital ID standard by the World-Wide Web Consortium (W3C), which is gaining rapid traction in the EU as the framework for digital identities and credentials.
Summary: three magic ingredients
- We connect and embed tickets into web3 wallets and express them as NFTs on a blockchain.
- We also created a protocol to convert tickets into DID-based Verifiable Credentials for cross-chain and network-independent exchange and interoperability. Because an NFTicket is also a dynamic NFT, Credentials can be updated over the lifecycle of the NFT. This generates new opportunities for utilities you can offer to your customers.
- Last but not least: through our collaboration with companies such as NRverse, we can embed Renewable Energy Certificates and carbon offsets into an NFTicket. This allows event organisers to decarbonise their events services. We performed this on August 31st to create the first zero-emission Metaverse event on Decentraland!
For all the tech-interested people, click here to join bloXmove’s latest academy class about the NFTicket solution — powered by paid network
Next steps and Roadmap
Celebrate with us a new momentum for non-fungible-tokens and serious web3 development. We are proud to be a solid anchor in the dynamic market and say a special thank you to our loyal BLXM community.
Have fun minting your own #NFTicket!
ABOUT bloXmove
bloXmove is a web3 solution provider working to create a worldwide decentralised and collaborative mobility alliance alongside an efficient green energy reality. By using blockchain components, bloXmove bridges innovative technology with industry solutions to increase security, automation, and efficiency in cross-company transactions as well as contracts. Incubated with Mercedes, accelerated by 3 co-founders in the Outlier Ventures bootcamp 2021 (Jan — Apr) and supported by a diverse team from around the world, bloXmove continues to develop identification and settlement solutions as well as new protocol standards to improve the currently siloed operating systems of the sectors: Power and Mobility.
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