- Feature Name: nft_standard
- Start Date: 2021-08-02
- RFC PR: #32
- Hathor Issue: (leave this empty)
- Author: Pedro Ferreira [email protected], Sharaddition
- Revision: 2
- Last updated date: 2022-05-06
This document presents a standard to be followed when creating an NFT transaction and its metadata. The idea behind having a standard is to be able to identify NFT tokens and to be easy for any plataform that would like to integrate Hathor NFTs.
Creating an NFT standard is important mainly for 3 reasons:
- There are some requirements that an NFT token must fulfill in order to have its digital asset shown in our explorer, so it's important that they are described here.
- Having a similar structure in most NFTs (also for its metadatas) facilitates the integration with any platform to list and show information about NFTs created on Hathor.
- Identifying an NFT is important to show specific information in the explorer and wallets.
Non-fungible tokens (NFTs) are unique, indivisible digital assets created on blockchains. HTR token, for instance, is a fungible token and 1 HTR of mine can be exchanged with 1 HTR of anyone without difference because all tokens are equal. Each NFT’s uniqueness can be proven by a unique identifier.
In Hathor Network an NFT is a new custom token created and its unique identifier is the transaction hash.
A transaction can be identified as an NFT creation if it has the following structure:
- Transaction version is 2 (TOKEN_CREATION_TRANSACTION).
- All inputs are HTR inputs.
- First output has HTR value and the script is a pushdata with the NFT data followed by a OP_CHECKSIG.
- It can optionally have a melt authority output (but never more than one).
- It can optionally have a mint authority output (but never more than one).
- It has one or more outputs with the created token (any value is valid).
- It can optionally have an output for the HTR change.
Any transaction that has this structure will be identified as an NFT and the explorer/wallet screens will show specific NFT information for them. The media associated with the NFT will not be shown unless the NFT goes through Hathor Labs' review process.
The output script data is the most important piece of an NFT transaction because it represents the data that is being uniquely identified in the blockchain.
The data can be any string, e.g. '#A123' as a serial number, or 'https://mywebsite.com/', or even 'ipfs://ipfs//filename'.
The most common use case is to represent a digital asset, then the NFT data usually redirects to an image/video/audio file. In that case, in order for us to add the digital asset in our explorer, it's required that this URL uses a immutable protocol, e.g. IPFS. Important to notice that your IPFS URL to be considered immutable must be like ipfs://ipfs//filename and not https://ipfs.io/ipfs//filename because ipfs.io DNS may change anytime.
Most NFTs also need extra data besides just the digital asset URL. The metadata standard is important to be followed in order to help future platform integrations with Hathor NFTs. This standard was inspired by OpenSea metadata standard and Metaplex Token Metadata Standard.
If the NFT requires a metadata, the output script data saved on blockchain MUST be the metadata URL in an immutable protocol (e.g. ipfs as explained in the last section), e.g. ipfs://ipfs//metadata.json.
The metadata should have the following JSON structure:
{
"name": {
"type": "string",
"description": "Identifies the asset to which this token represents"
},
"description": {
"type": "string",
"description": "Describes the asset to which this token represents"
},
"file": {
"type": "string",
"description": "A URL pointing to an immutable resource with a digital asset to which this token represents"
},
"collection": {
"type": "Object<CollectionObject>",
"description": "Additional details are recommended for NFT collections with multiple unique assets under one single family and symbol."
},
"attributes": {
"type": "Array<AttributeObject>",
"description": "These are the extra attributes for the digital asset. It's an array of AttributeObject to make it as flexible as possible."
},
"royalty": {
"type": "Object<RoyaltyObject>",
"description": "Object with fields that would be utilised to pay royalties to original creators in secondary sales conducted by marketplaces that adheres to Hathor Metadata standards, after minting (primary sale)."
},
"external_url": {
"type": "string",
"description": "This is the URL that will appear with the asset in the marketplaces and will direct users to view the NFT on the creator's (or some other) website."
},
"animation_url": {
"type": "string",
"description": "URL to a file that will be used as a preview of the NFT in the marketplaces or wallet. If not set, the file field may be used."
}
}
- The CollectionObject has the following JSON structure:
{
"name": {
"type": "string",
"description": "Name of the collection, e.g. Hippos"
},
"symbol": {
"type": "string",
"description": "Symbol of the NFT collection within 2-5 characters, e.g. HIPPO"
},
"family": {
"type": "string",
"description": "Represents the family of the NFT collection, e.g. HathorLand DAO"
}
}
- The AttributeObject has the following JSON structure:
{
"type": {
"type": "string",
"description": "Type of the attribute, e.g. rarity, stamina, eyes"
},
"value": {
"type": "string | decimal",
"description": "Value of the attribute, e.g. rare, 1.4, blue"
}
}
The AttributeObject may have more attributes than the ones described above but those are the required ones.
- The RoyaltyObject has the following JSON structure:
{
"fee_basis_points": {
"type": "integer",
"description": "Royalties percentage awarded to creators (basis points), e.g. 500, which means 5%."
},
"creators": {
"type": "Array<CreatorObject>",
"description": "Array of all creators involved in the project & their royalty bps."
}
}
500 Basis Points mean 5% royalty, One basis point is equal to 1/100th of 1%. More info on BPS at Investopedia.
- The CreatorObject has the following JSON structure:
{
"address": {
"type": "string",
"description": "Address of the wallet in which royalty fees will be sent for secondary sales."
},
"share": {
"type": "integer",
"description": "Amount of royalty for each creator, in bps."
}
}
The sum of the shares should always total 10000 bps, which corresponds to 100%.
For an NFT with royalties of 10% (fee_basis_points = 1000 bps) and two creators, one receiving 40% of the royalties and the other 60%, the shares are 4000 and 6000. If there were 3 creators, each receiving 30%, 20% and 50%, the shares would be 3000, 2000 and 5000.
{
"name": "Gandalf",
"description": "A wizard, one of the Istari order, and the leader and mentor of the Fellowship of the Ring",
"file": "ipfs://ipfs/QmbuthvFV2EjvfmWXxt2L83PwPPwbjjggBhVsrEB7AXW123/gandalf.png",
"collection": {
"name": "Wizards",
"symbol": "WZD",
"family": "HathorLand DAO"
},
"attributes": [
{
"type": "rarity",
"value": "super rare"
},
{
"type": "hp",
"value": 32
},
{
"type": "intelligence",
"value": 99
},
{
"type": "ring",
"value": 0
}
],
"royalty": {
"fee_basis_points": 500,
"creators": [
{
"address": "H7t2eNhFNeH3hrUAJj4AAu9amtWmPT4fLB",
"share": 9500
},
{
"address": "HNBuYEsJYznh5zZGx4eDn2NXYuiPpgKBgH",
"share": 500
},
{
"address": "RaNd0MsJYznh5zYOyoDn2NXYuiPAdDre5s",
"share": 0
}
]
},
"animation_url": "https://www.arweave.net/efgh1234?ext=mp4",
"external_url": "https://hathor.land/dao"
}
In the example above we have one creator with 0 royalty shares. The idea is just to identify this address as a creator of the NFT but it won't receive any royalties.
The deposit will be the same as in the normal token creation, i.e. 1% of the amount created deposited in HTR.
For example, if you'd like to create 100 units of a NFT, you must deposit 0.01 HTR. 1% of 100 units is 1 unit and given that we never handle decimals, only integers, 1 unit of HTR is 0.01 HTR.
- 500 NFT units: deposit of 0.05 HTR.
- 100 NFT units: deposit of 0.01 HTR.
- 10 NFT units: deposit of 0.01 HTR.
- 1 NFT unit: deposit of 0.01 HTR.
This deposit may be returned in case of a melt of the created NFTs. Important to notice that you have the deposit back only if you melt an amount bigger than or equal to 100 units, just like the normal custom token.
The first output of a NFT transaction will contain the script with the data string. This output must have some value and we use 0.01 HTR for that. It's an output that can never be returned.
There are some special cases where the NFT token won't follow the proposed standard, e.g. if it needs more than one data output. In that case, our wallets and explorer won't automatically identify this token as NFT.
Given that this situation is expected to be rare, we will handle them manually. The NFT creator will need to get in touch with Hathor team, in order to have the token identified as an NFT on the official Hathor explorer. Besides that, as long as the digital asset's URL is immutable, it should be approved in the review and should be shown in Hathor's Public Explorer like any other standard NFT.
It's possible to create a token unit especially to be used in the first output (the one with the data script), however the total supply of the NFT would be increased by 1 in the blockchain, which is not good given the idea behind non fungible tokens. That's why we've decided to create the standard with the fee as HTR.