Cortex Labs unveiled the fourth Cortex Request for Comment (CRC-4) that offers a standard interface for Non-Fungible Tokens (NFT)

The goal of the CRC-4 proposal is to create a non-fungible token (NFT) on the Cortex Blockchain. A standard interface allows developers to tokenize ownership of any arbitrary data, drastically increasing the design space of what can be represented as a token on the Cortex Blockchain.

In comparison to fungible tokens, the biggest differentiator of NFT is that each one is tied to a different identifier, making each token unique to its owner. This standard makes it easy to create marketplaces for multiple non-fungible token types. This standard provides basic functionality to track and transfer NFTs.

There are many proposed uses of Cortex smart contracts that depend on tracking distinguishable assets. Uses include tracking real-world assets, virtual assets, tokenized luxury goods, digital arts, and collectibles. It is critical in each of these cases that these items are uniquely identified and atomically tracked.

For more information, refer to our GitHub for a sample CRC-4 smart contract to get it started.