NON-FUNGIBLE TOKEN CONFIGURATOR UPDATE
Geneva, Switzerland; New York, New York, USA; August 27, 2021- We are pleased to provide an update on the NFT configuration technology. As previously mentioned in the last press release on July 13th, 2021, SonoCoin is applying its technology to produce a new breed of fully customizable non-fungible tokens. On August 19th, the beta version of what has come to be known as the ‘NFT Configurator’ was soft launched on DROPmusic.io and has successfully undergone one week of rigorous testing.
This milestone represents a huge leap-forward in non-fungible token capabilities. It opens the door to unseen levels of gamification, personalization, and monetization. Currently, the industry standard ERC-721 smart contracts and other similar iterations leave creators and users virtually no flexibility in modifying an asset after minting (its creation). The craze for randomly generated NFTs such as CryptoPunks is evidence that the public is moving away from digital trading cards and static artwork. We believe the next generation of NFTs will be dynamic.
“NFTs are moving digital assets into the public imagination, but if they’re to become the onramp for more mainstream adoption of blockchain-based systems, they need to prove that they can earn users’ trust and evolve beyond the cute static collectibles they are today.” — Adelyn Zhou, CMO Chainlink Labs, Nasdaq
The SonoCoin NFT Configurator is made possible thanks to its ability to interface with external databases and systems. The smart contracts are a mechanism for minting/burning NFTs, trading peer-to-peer and checking the state. For example, a smart contract that mints a limited-edition blank record plaque will communicate with the NFT Configurator that X number of empty slots are available for customization.
Using the Configurator, artists can securely connect their NFTs to create dynamic assets that react to the personalization choices of their users. All these connections can be used to switch in and out individual components of a record plaque.
SonoCoin is a native proof-of-stake blockchain platform: the first to host audible friendly tokens. It combines smart contract technology with breakthrough data-over-sound capability.