NFT on Flow

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:

  • low environmental footprint
  • positive public image
  • a ‘good neighbours’ environment
  • low fees

Integration with Flow is in active development. Our current focus is on the following features:

  • Use third-party NFT-based digital artifacts and art in Sequel (avatars, images, videos)
  • Offer NFT releases from curated content creators to use as avatars and headers in Sequel and in the outer metaverse
  • GA Release of Sequel Studio that enables content creators to design mint their own NFTs directly in Sequel App
  • Build themed galleries to display NFTs
  • Seamlessly wrap popular posts on Sequel as NFTs
  • Enable content creators to sell subscription-based services

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:

  1. Fairness. Digital artists should be fairly remunerated for their work, including a substantial percentage of the initial sale and roaylties.
  2. Openness. An interface to the NFT’s underlying digital assets and metadata should be available to the owner. Supporting technical documentation should be easily accessible and kept up-to-date.
  3. Longevity. NFT’s underlying digital assets should reside on a storage medium that guarantees longevity or provides technical options to ensure longevity (think of broken links and proprietary cloud storage).
  4. Transparency. Intellectual property and reuse rights should be clearly defined for both the digital artist and the owner (work in progress).
  5. Portability. NFT issuing platforms should not restrict or encumber access to NFTs and its underlying assets by third-party applications (owner’s authorisation may be required).