Non Fungible Tokens (NFTs) are a class of crypto assets that, though working on the same principle as any blockchain token, have created an entirely new economy. Unlike other crypto-assets that have equal value among themselves (no matter how many Bitcoin there are, for example, each coin will have the same value as the other), NFTs differ by being unique from other tokens on the network and therefore have a separate value or demand.
The ability to link any asset to an NFT has meant that these tokens are capable of representing a unique item or an asset, allowing anyone to create a digital representation of physical or intellectual property and have gained immense interest recently. PRüF is a blockchain platform that makes it easy for anyone to create their own NFTs or even an entire token ecosystem.
How PRüF Helps
PRüF is a blockchain platform that presents a holistic NFT creation and deployment experience. It has been created from scratch to address the largest issues that are being ignored in the current NFT environment.
By establishing their brand by minting an ACNode in PRüF, developers and teams can go directly to launching their NFT using the easy-to-use NFT launchpad. The ecosystem has been stress tested and the smart contract has been thoroughly audited. This means that NFT project teams can save hundreds of man-hours they would otherwise spend in developing their contracts and having them audited to eliminate any faults or weaknesses. Along with this, the teams can use white-label services of PRüF, using the readymade libraries and integrating these into their systems. Developers have the complete freedom to define the available features, how the tokens would look, and their characteristics, customizing them according to their desires and specifications.
The tokens are further customizable with the developers defining any required details, such as the requirements for modification or transfer, any media, such as the business model including how the tokens will be transferred, document or real-life assets that the NFT will represent. Since these features are integrated into a very intuitive interface, NFT creators don’t need any coding knowledge and can launch their NFTs using the PRüF console in minutes. Even if a firm or an individual already has an NFT launched, they can add different PRüF features to their tokens. Though this does not give them the full features of PRüF launched NFTs, the ability to paint or decorate their tokens means they do gain some valuable aspects.
NFTs, like their traditional token counterparts, are limited to the blockchain network they are launched on. PRüF’s approach towards this issue is multifaceted. First, all PRüF NFTs are interoperable. This means that they can be used on a diverse range of markets, platforms, and other websites that support the PRüF NFT protocol or legacy NFT tokens. Secondly, the creation of a wrapped NFT in the PRüF ecosystem means that even if the original NFT is not compatible, they can create a synthetic PRüF enabled NFT that represents the original token within the ecosystem.
The ACNode holder, which creates the NFT, can claim a unique name for a brand or issuing authority, meaning that other parties will not be able to replicate their name, effectively allowing a sort of IP rights for the name and helping in branding. The PRüF community also plays a part in this, with it protecting your brand from imposters. Each creator mints tokens under their brand or identity and every NFT launched by it is openly traceable, giving it a level of authenticity that other platforms fail to deliver.
In addition to creating verifiable issuing identities for NFT tokens, PRüF community governance means that image-sensitive brands are protected from imposters and bad actors, ensuring that their brand is represented with the prestige and confidence it deserves.
One of the issues facing most NFTs is data permanence. With few exceptions, NFTs representing digital artifacts are storing those artifacts in the cloud. This makes the artwork, collectible media, or contextual framework of the token vulnerable to being lost unless someone continues to pay a server bill to keep it online. This would make the token into just another dead internet link – not a good look for a product that may cost thousands of dollars or more. PRüF addresses this widespread problem in the NFT space by offering NFT content creators a simple and affordable option to put their digital artifacts on-chain. Storing the token and the artifact on-chain ensures that the token will continue to be relevant in the future.
PRüF is a game-changing platform that has predicted issues in the NFT sphere that will ultimately need to be addressed. PRüF helps NFT developers and creators to save the time and effort they would spend down the road to protect their property. Safe, secure, permanent, and authenticated, PRüF enabled NFTs are the way of the future.