How does the NFT identify or link to the underlying digital asset?
The NFT has an IPFS hash of the NFT metadata, which contains an IPFS hash for the digital asset. Our product roadmap includes adding the ability for end-users to access this directly from an NFT’s details page on the platform via a call-to-action button.
Can users move purchased NFTs to other platforms?
Yes, the user can request a transfer of their NFT assets to an Ethereum compatible crypto wallet address (off-platform) which can be approved and executed by the admin.
Please provide a detailed explanation of your NFT platform’s environmental impact and gas emissions. Is your platform proof of work or proof of stake?
Rare Goods utilizes the Polygon blockchain. Polygon uses proof of stake, which has a much lower environmental impact than proof of work blockchains. Polygon’s validators approximately consume 0.00079TWh of electricity yearly with an approximate continuous draw of 0.00009GW, orders of magnitude below the e
How does the platform track secondary sales?
The platform tracks secondary sales (including royalties) off-chain and builds an internal ledger. We maintain a robust record of every transaction that will be available to your team for tracking, bookkeeping, and reporting. flexibility in accountability Introducing Dynamic NFT Royalties The collegiate s
Is it possible to import/transfer assets from other platforms into your platform?
This is not currently supported, but is included in our product roadmap and could be implemented if such support is desired. Our initial focus is to give brands ultimate control over asset offerings on a branded platform.
What blockchain technology is your platform built on and why was this technology selected?
What blockchain technology is your platform built on? Why was this technology selected and how will it shape your company’s long-term vision? The platform is built primarily on Polygon. We wanted to use an EVM-compatible blockchain and capitalize on the benefits of the advanced tooling, community, and sta
How is the integrity of the blockchain maintained? Is there any relationship between the platform and the entity that developed the blockchain?
The integrity of the blockchain has a Proof of Stake consensus algorithm, the network relies on a set of validators, who are their operators, to secure the network. With polygon, our projects have a dedicated blockchain network that combines the best features of stand-alone blockchains (sovereignty, scalabi
Do you support wrapping of NFTs? If yes, please describe the method you support.
Wrapped NFTs are in our product roadmap for Q1 2022. We have developed traditional and non-traditional methods for enhancing the fan experience by bundling NFTs in digital packs with bonus ties through our loyalty engine to unlock e-commerce promo codes, loyalty points, and other unlockable content that may
How is a creative asset assigned to a token?
All media assets are submitted to the IFPS network and then its hash is assigned to the token property “tokenURI”, which includes all metadata from the NFT. We utilize industry-standard JSON metadata minted onto each token to ensure maximum current and future compatibility. We currently utilize
If you are using a custom blockchain, what is the contingency/recovery plan for your smart contracts/tokens in the event of catastrophic failure?
We don’t use a custom blockchain. The Rare Goods platform is built on Polygon, a secondary scaling solution for the Ethereum blockchain.
