Similar to NFT Ticketing, which was already developed on outwave, another similar implementation could be creating a Digital Twin for an NFT.
An NFT Digital Twin is the digital representation of a physical asset certifying its ownership.
Why could this functionality be important in our context? Because it would allow you to sell or transfer properties, which can then be redeemed on-site.
Let’s think about the organization of an event. It would be possible to sell NFTs representing ancillary assets, such as parking lots, cocktails, and T-shirts, that can be redeemed once in person. Similar to Ticket NFT, but intended for more general use.
NFTs minted on outwave will also be able to attribute metadata that better identify the asset, such as the color and size of a shirt.
I’m trying to push some of my friends that own a business toward this emerging models. I think that one in particular, a Japanese style tattoo artist, could benefit from the concept of Digital Twin
Once I first heard of Outwave it occurred to me the possibility to presell unique tattoos as NFTs. These can be traded, but once an owner redeems the possibility to get the real artwork on his skin, the asset will loose this benefit
IMO this can fit very well in the Outwave ecosystem
I have never thought about this usage… but It would work.
Outwave allows users to burn their NFTs in exchange of a qrcode. The qrcode can then be used by the collection owner to verify it and mark it as “used”.
A process similar to Ticket NFTs but with a wider scope.
Hi, I agrre with you when you talk of Digital Twins in relation to merchandise, a poster, a tshirt can be associated with an nft in the merch collection, and live the life of the merch object it is bound to: poster 0001 is bound to nft 0001 that in its metadata have the image and other properties of the poster. The other situations are not related to a digital twin. The forth is the number 1 but related to products of the artist execution. The number 2 and 3 are events, many times one of a kind, so the token is a ticket and once punched it’s over. The fifth is the after party of point 3? An after partyu ticket, once the private session the ama, the party and/or the after party is over, the token have no reason to “live” but as memorabilia ( so it is a digital twin of a ticket).
From our point of view, an NFT Digital Twin should be categorized into 2 groups:
Redeemable NFT Digital Twin actually behaves like an NFT Ticket: you need to burn it to claim something, which can be a physical asset or an event. From the UX perspective of someone using outwave, the slight difference is that a Redeemable NFT Digital Twin should provide an interface to define custom metadata, which will better track physical goods.
Non-redeemable NFT Digital Twins are NFTs attached to physical items that cannot be burned with outwave’s smart contracts.
Yes, you could still get rid of it by sending it to an empty address, but in this case, you are claiming nothing.
We said that the digital twin is a digital copy of a physical asset, this means that we could attached data to thee NFT.
Now I had some chat with few organizers and I received a lot of questions from them about the possibilities of NFT and digital twin, I report these below.
How many data can I attached, meaning how big can be in terms of bite memory?
How this effects the transaction data to create it, and how affect the speed of all the entire process in creating the NFT, sell it, and redeem it ?
I think there is some confusion here.
NFT Digital Twins represents a physical asset, and it does not make sense for the specified use case.
You describe an NFT Token Gate, which will be supported in the NFT Membership development.
Users with an NFT with these characteristics will be able to access digital content, such as a web page, external link, video on youtube, etc…
The organizer will be able to protect access to digital assets by specifying what NFTs are required.
My idea is to start as simply as possible by not hosing any user’s assets on outwave. Organizers should be able to host it anywhere and protect the content with an outwave’s public URL.
When a user accesses the provided public URL, he will be required to connect his wallet, the required NFTs property will be checked, and eventually, the digital content will be loaded.
More discussions on this topic should be discussed in the specific topic: