People are obsessed with owning NFTs (Digital Non-Fungible Tokens) stored on the blockchain, which represent digital assets stored on the chain.
They record proof of ownership, transactions, collectibles, or collateral for loans. The NFT market exploded in 2021 and spent more than $ 2 billion on NFTs in the first quarter of this year.
Currently, the Kusama Relay Chain Network is introducing complexity into NFTs by introducing what is called “Art Lego” into the RMRK (pronounced remark) NFT system.
Due to the simple structure of the data on the relay chain, the RMRK network does not use complex smart contracts. Instead, use a concept called “art lego” to write a note representing each NFT on a block on the chain.
Like colored bricks, these Art Legos act as building blocks for NFTs to interconnect, nest, and increase the complexity of early primitive NFTs. These new Art Legos are programmable and may be more valuable to the owner.
RMRK is also available in an expanded version of smart contracts only. This is suitable for immutable blockchains such as EVM (Ethereum Virtual Machine). This is a base chain that works only with smart contracts and does not work with complexity such as runtime upgrades.
The concept of “money lego” is already well known throughout the Ethereum network. There, various alt-finance primitive items connect to create a larger and more complex structure with a “Decentralized Finance” or DeFi movement.
The Kusama relay chain connects other blockchains such as Ethereum (ETH) and Bitcoin (BTC). This relay adds the functionality of each connected chain to its feature set, similar to the central chain used in polka dot networks.
This means that enterprises can use private data to develop application-specific blockchains and use relay chains to share them with other chains. This allows businesses to maintain data sovereignty and logical separation.
Gamers can own a card that lists their avatar traits as NFTs. Properties may differ in desirability and rarity.
Their avatars can also carry equipment-another NFT. Therefore, NFT avatars can “own” other NFTs. Basically nest parent / child NFTs and use the ability to render or perform actions to make them more complicated.
Games such as Kanaria, recently launched as the first collectible on the Kusama network, show how nested NFTs work. The Kanaria Offering is a set of limited edition NFTs aimed at funding the RMRK team and their projects.
In-game characters (NFTs themselves) can own a backpack (NFT) that contains an item (NFT), because NFTs can own other NFTs. Each bit of digital ownership can be linked to each other.
Conditional rendering is available and can be emmoted on-chain, depending on the value of the hosted platform or NFT.
This seems to be an advantage for gamification, but it can also be used by businesses to test the price of an item. Companies can use pictograms to measure their response to NFTs and discover their potential value before they bring them to market.
Bruno Skvorc, founder of RMRK, said: “The era of useful, reactionary, customizable, nested NFTs has arrived, and only the creativity of NFT makers is the limit.”
RMRK NFTs are compatible with Ethereum or other EVM chains when used over a bridge that limits functionality and transforms them into static assets such as those that occur in Ethereum. RMRK recommends using the blockchain provided by the Substrate framework in the Polkadot and Kusama ecosystems.
NFTs are not only disposable tokens, they certainly have the ability to be useful in a wide range of use cases. Nested and complex NFTs will definitely transform gamification as more and more complexity is added to the feature set.
Rather than NFTs being expensive dust collection digital images, there can be much more programmable NFTs.