VideoCoin NFT Marketplace Beta Milestone: Mixed Media NFTs, On-chain DRM for NFTs, Auctions, and more
We are excited to announce the launch of VideoCoin’s NFT Marketplace Beta has gone live on October 7, 2021.
In this post, we will be sharing the latest development updates on this open-sourced platform built on the VideoCoin Network with integrated Filecoin technology. Our mission with the Marketplace App is to enable any brand, retailer, or content creator to build a branded NFT marketplace for buying and selling NFTs as a consumer product. In addition, VideoCoin addresses existing NFT shortcomings by creating NFTs that are expansive and resilient. During the past weeks, we have been working hard to deliver the latest version of the NFT Marketplace app which includes new features and functionality to the marketplace as well as key enhancements of NFTs.
In April, we announced our work with Filecoin to architect an open-source NFT platform allowing anybody to build marketplaces with resilient NFTs. Our previous Alpha release launched the capability to create and integrate marketplaces for minting, storing, and trading. The new release allows projects to access the end-to-end solution needed to launch better marketplaces, with stronger and versatile NFTs, faster than ever before.
New features:
- Mixed media NFTs: Support for non-video assets, primarily images, audio, and .zip files. Anything!
- Multi-asset NFTs
- Permissioned NFTs
- NFT Auctions
- Transfer of Proof of Ownership
- On-chain Digital Rights Management(DRM) for NFTs
Mixed Media NFTs
This release expands on the type of assets that can be minted as an NFT. At alpha, users had the limited ability to mint Video NFTs through the Marketplace App. Now users can also create NFTs with non-video assets like images, audio, and .zip files. NFT Marketplaces have more versatility for content creators and users looking to mint or trade NFTs with distinct assets adding to the appeal of these marketplaces.
Multi-Asset NFTs
VideoCoin NFT marketplaces will support a new and unique form of NFTs called Multi-asset NFTs. Normally an NFT will have one media file associated with it, but with multi-asset NFTs, multiple assets can be stored within one NFT. An example of a use for a Multi-Asset NFT could be a music album containing multiple audio tracks that can now be minted within one NFT.
Permissioned NFTs
NFTs minted through the VideoCoin NFT Platform app will have the ability to mint purchase-to-unlock NFTs. Individual or entire assets within an NFT can remain private until purchased.
Using the same example above, an NFT can include an entire music album with multiple audio tracks. Permissioned NFTs allow for the owner to sell access to individual ‘locked’ assets within music albums to their fans. These fans will have the ability to purchase the assets they’d like to have access to.
On-Chain Digital Rights Management, Auctions, and Transferable Proof of Ownership
We’ve added a number of upgraded features directly to NFTs
- For the first time ever VideoCoin DRM technology has been brought on-chain for Web3 content. On-chain DRM is entirely integrated into MetaMask. This is powered through a breakthrough in aes-str encryption speeds, powered by the VideoCoin Network.
- Proof of ownership now transfers with the change of NFT ownership.
- High-efficiency, asynchronous auctions are now available in the marketplace when selling NFTs.
VIDEO: Beta Demo
Next Steps
We have much more to announce to our community as we move forward to the official launch of the NFT Marketplace App, and we will share more details about the opportunities for early users of Beta. We’ll continue to keep the community updated through our socials, so be sure to follow us on Twitter and join our Telegram group.
