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When we started working on ChainLocker, the framework that powers Sequel, the term Non Fungible Token didn’t exist. When the term became mainstream, it came as a surprise that every data record we store in ChainLocker qualified as an NFT, due to its infungibility and explicit and publically verifiable ownership. The scarcity component was, however, optional. Because most data is meant to be shared. In fact, the more the data is shared, the more valuable it becomes.
Hence, users' data in Sequel universe has all the properties of NFTs (and more) by design, and there is no need for explicit conversion.
However, with the recent explosion in the digital asset and NFT platform space, Sequel is aiming to use third-party digital art and assets, as well as enable Sequel residents to share their content with the outside world (is it too early or too late to call it Metaverse?) We identified NFTs as the most promising technology to achieve these goals.
Sequel has selected Flow as the primary public blockchain to consume and mint NFTs.
We were very cautious about choosing a platform with the right combination of environmental, societal and economic characteristics such as:
Integration with Flow is in active development. Our current focus is on the following features:
More exciting features to come!
As any new, innovative, unregulated space, NFTs are open to abuse and deception. Sequel doesn’t endorse such practices. We formulated the following principles of responsible co-creation for making third-party NFT content available in Sequel: