The launch of Ternoa Phase 4 Part I — Secret NFT
In November, we announced the launch of Phase 3, introducing Rental NFTs, Auction NFTs, and SoulBound Tokens. Now we are ready to unveil how Phase 4 will impact and revolutionize the Ternoa ecosystem. The creation of Ternoa originated with an idea from our CEO Mickaël Canu, “how can you make sure that your memories and private data are transmitted securely to the future?” With this idea came the creation of Ternoa as you know it today. As we approach Phase 4, our features and initial vision for Ternoa will come into orbit.
Phase 4 is so massive and innovative to the NFT ecosystem that we are announcing it in 3 parts. We’ve left the Ternoa community in anticipation and excitement for long enough with these features. Phase 4 will bring Secret, Capsule NFTs, and Transfer Protocols to the Ternoa network! Now is the time to join the Ternoa ecosystem and begin discovering our SDK to launch your marketplace to shake up the ecosystem with Secret and Capsule NFTs. But first, let’s break down Phase 4 Part I launch.
The drive behind Secret NFTs
One of the key motivations behind web3 and blockchain technology is creating a more transparent and secure way of sharing information. While blockchain, as a public ledger of transactions, provides irrefutable proof of ownership of NFTs, it does not meet the privacy of data needed for many NFT use cases. What if you could unlock the potential of NFTs with customizable privacy features? With this in mind, the concept of Secret NFTs originated. Secret NFTs are non-fungible tokens allowing creators the ability to add private data in their NFTs, including images, videos, audio, or documents. Secret NFTs can be transferred peer-to-peer or traded in marketplaces. There are infinite ways in which secret NFTs can be utilized and transform how we store our private data.
How are Secret NFTs unlocking privacy potential?
Now let’s go into more technical detail on how we ensure privacy with Secret NFTs. Secret NFTs are an addition to the Basic NFTs; the secret data is stored in a decentralized manner using IPFS protocol. The secret consists of a media that is encrypted using generated PGP keys. After encrypting the media, the PGP private key is split into shares using Shamir’s Secret Sharing algorithm. Each share is securely stored in an enclave using the TEE technology, where individuals or centralized entities other than the current owner of the Secret NFT cannot access them.
To view a secret, the NFT owner will request the shares for each enclave. The request consists of the NFT id and a signed message. Once the NFT ownership is verified, the TEE enclaves will return the shares. The PGP Private Key can be reconstructed with the shares, and the secret media is decrypted.
You can review our Secret TIP here to dive deeper into the technical side of Secret NFTs.
What will be utilized with Secret NFTs?
Secret NFTs are set to revolutionize several industries, from real estate and healthcare to music, gaming, and the arts. Imagine, as a musician, you want to sell exclusive tracks and keep the music audio private, and only the owner of the music NFT can view and listen to the audio. Secret NFTs would give musicians an extra layer of privacy to protect their work and music collectors a heightened exclusivity and access to secret tracks. Secret NFTs can be used to store and transfer exclusive content such as backstage photos, videos, or interviews with celebrities or musicians. Creators can add private data to ensure the content is only accessible to verified fans or collectors. This can create a new revenue stream for creators and provide a more personalized experience for fans.
Secret NFTs will also influence a new concept in the development of games. Secret NFTs can keep a player’s assets private from opponents, creates the possibility of unlocking hidden skills, and could conceal users’ actions throughout the game to secure a win against their opponents. Secret NFTs can store and transfer rare or unique gaming items between players. Creators can add private data, such as the backstory or history of the item, to add more value and depth to the item. Secret NFTs can be used to store and transfer rare or unique gaming items between players. Secret NFTs can also be used to verify ownership of the item and ensure that it is not duplicated or hacked.
Secret NFTs enable creators to hide their NFT content, so only the owner has full access to view its content. For example, an artist could create a Secret NFT, which makes their full-resolution piece of the art private, ensuring their artwork is protected and cannot easily be saved or downloaded without purchasing their NFT. This is a game changer to protect artists’ work and artist collectors’ investment.
To address the hundreds of use cases where industries and innovators want additional layers of privacy on their data and creations, Ternoa has developed Secret NFTs. The foundation of Secret NFTs is to bring privacy to NFTs. Secret NFTs will launch a new wave of innovative dApps and NFT use cases and give control back to the owner and creator of NFTs.
What’s next for Ternoa?
Stay tuned for Phase 4 Part II announcement as we’ll take a glimpse into the feature that motivated the creation of Ternoa and unpack the future potential of launching Capsule NFTs in the ecosystem.
Follow us on Twitter to join our future AMAs, where we’ll delve into Phase 4 in real-time. To join the Ternoa ecosystem, start using our SDK today: https://docs.ternoa.network/for-developers/
