NFTs Idea: Non-transferable option? #59

tijno · 2021-07-14T13:06:05Z

tijno
Jul 14, 2021

I think currently all NFTs can be resold by the owner.

Would it be worth adding:

the option to make an NFT non tradable / non sellable ? (note: 100% royalties kinda makes it non sellable)
allowing the NFT minter to gift 1 NFT of a 1 of Many to user accounts?

Doing this would open up new and innovative solutions to solve common problems around:

1 - communities
2 - badgers & achievements
3 - qualifications / skills

After reviewing the code, some more thoughts about implementation approach:

Making a NFT "Unsellable" or "Non transferable" I think will require an additional param in the Transaction, similar to IsForSale - eg CantBeSold set to false by default, but true if NFT is minted with the non transferable option enabled.
Looks like NFTs can be updated to handle i guess the reselling of them. Its important the CantBeSold option can not be changed as a buyer or winner of such a non-transferable NFT should not be able to change this.
BidAmount can be 0 in AcceptNFTBid which is good so this could be used as a basis for gifting/awarding a NFT to a user
Gifting would still need an additional function as I think AcceptNFTBid checks against bids submitted.

Purpose

With these 2 features, the following would be able to use NFTs as a mechanism:

Rewards & achievements - eg DH's challebe for the pulse dashboard could have been turned into a 1 of 1 NFT badge gifted to the winner
Challenges - The Pulse Trading Challenge, or the Dev Challenge I did.
Open communities / interest groups - Lets say I want to manage a community of developers on Bitclout, I could mint a 1 of many non transferable NFT and gift those to developers that have contributed to Bitclout
Closed communities - Closed 100 seats only community using NFTs to identify its members and give the members assurances that only 100 members will ever have access.

To roll this out fully I think the following would be needed too:

Could use 100% royalties as a way of making an NFT non-sellable.
CantBeSold setting for each NFT as mentioned above
Gift or transfer NFT to a user - but probably only allow this if this was not won in a Auction. Otherwise it would offer a way for users to sell NFTs without royalties.
Ability to return a gifted NFT as per this post by (SeanSlater)[https://bitclout.com/u/SeanSlater]
Show "award badge" on user profile. Could use NFT tab for this, which shows the NFTs owned by the user (GetNFTsForUser function already exists to do this)
Get a list of users that own a certain NFT - would require a GetUsersForNFT
For Gated Content, have api that returns true if User owns a specific NFT as per this post by (SeanSlater)[https://bitclout.com/u/SeanSlater]

omicreativedev · 2021-07-15T04:18:23Z

omicreativedev
Jul 15, 2021

YES VOTE

1 reply

tijno Jul 15, 2021
Author

Thx. I think its possible for sure - just hope im not too late.

AikonMishima · 2021-07-15T12:06:40Z

AikonMishima
Jul 15, 2021

This would indeed be a great option.

It'd definitely help with the NFT feature of @LVLone, as they'll be 1/1 NFT's bound to an individual or a group's specific achievements.

My workaround was going to be to set the royalties to 100, so it wouldn't have made sense for people to sell their NFT.

0 replies

tijno · 2021-07-15T13:27:34Z

tijno
Jul 15, 2021
Author

Updated the original post with some more info after reviewing some of the pending NFT code.

@maebeam @lazynina @redpartyhat Is this the right place to raise this? Or should I mention it in the relevant PRs for nifties?

1 reply

AikonMishima Jul 15, 2021

+1 for the updated CIP proposal.

Especially this:
“ Gift or transfer NFT to a user - but probably only allow this if this was not won in a Auction. Otherwise it would offer a way for users to sell NFTs without royalties.”

jaydih · 2021-07-19T12:18:11Z

jaydih
Jul 19, 2021

I love this idea.

0 replies

comtechnet · 2021-07-20T20:03:03Z

comtechnet
Jul 20, 2021

If indeed u are going to allow 2 "broad" categories of Bitclout NFTs 1) transferrable and 2) NON transferrable; ensure that these still comply with the erc721 (etc) standards) / it seems NON transferrable needs to "stay" within the Bitclout ecosystem until this feature is universal for all NFTs / thoughts?

2 replies

tijno Jul 20, 2021
Author

I think BitClout NFTs currently are only within the BitClout ecosystem and dont follow ERC721 standard. ERC721 is a ETH based standard. It would be amazing if someone did make BitClout NFTs transferable between ERC721 and BitClout both ways!!

comtechnet Aug 27, 2021

Looks like FLOW has "started" this movement / so other's will have to step up. NFTs need to be able to be transferrable - just as "ART" is transferable (proven, reliable, verifiable, etc.) - I know the "physical item" behind some NFTs (where there is some kind of attachment/connection to a physical item - may be a little arduous to prove/verify). but the NFT itself should be completely transferrable and transportable. Now that FLOW has done this for the first time, between FLOW's blockchain and Ethereum - other's will need to follow. (IMHO)

jsonpreet · 2021-07-20T20:22:33Z

jsonpreet
Jul 20, 2021

Great @tijno

0 replies

salilsethi · 2021-07-23T05:01:28Z

salilsethi
Jul 23, 2021

Love the idea. I can think of several use cases related to ProsperClout here :)

0 replies

tijno · 2021-07-26T08:59:23Z

tijno
Jul 26, 2021
Author

Its a shame this requested change may not make it into the first release as per @diamondhands0 comment here:

#92 (comment)

Its got huge support from the community and is easy to add.

Not a hard thing to implement, but it's going to take a bit more thought from the UX side to make sure that this gets messaged to buyers without cluttering the look of an NFT in the feed.

The lock icon is not a good suggestion as the "has unlockable content" already uses it in the feed.

But could use the same mechanism, just use a different icon.

https://github.com/bitclout/frontend/blob/rph/nifties/src/app/feed/feed-post/feed-post.component.html#L442

<span class="d-lg-inline-block d-none">|&nbsp;</span>
<span 
      class="cursor-pointer d-lg-inline-block d-block"
      (click)="tooltip.toggle();"
      matTooltipClass="global__mat-tooltip global__mat-tooltip-font-size"
      [matTooltip]="tradableTooltip"
      #tooltip="matTooltip"
>
  <i
    class="fas"
    [ngClass]="{
    'fa-store-slash': !IsTradable,
    'fa-store': IsTradable
    }"
  ></i>
  {{ IsTradable ? "Can be traded/sold" : "Can not be traded/sold"  }}
</span>

Using these icons

1 reply

tijno Jul 28, 2021
Author

If NFT royalties are 100% the seller wont get any money from reselling.

So this kinda achieves the objective but doesnt completely stop it.

Could be an easy way to implement this - eg if Combined royalties are 100% then it can not be resold.

andyboyd · 2021-07-29T17:54:20Z

andyboyd
Jul 29, 2021

Really love the gifting side of this. The non resellable part is cool too, but the gifting would open up so many options. Very, very, super keen for that to be added.

Is there any chance this proposal could be split in two, since the two parts seem like they may be able to reach the benchmark for acceptance independently?

2 replies

tijno Jul 29, 2021
Author

I guess the use cases I outlined requires both to be in place.

So splitting from my perspective doesnt make sense.

What uses do you see for gifting on its own ?

andyboyd Jul 29, 2021

Well, one example could be if an app wanted to act like an exchange for fixed price NFTs, that could be achieved by acting as a middle man, NFT owners gifting their NFTs to an account owned by the app, and the app automating the bid/acceptance process to make it one click for the buyer with no further involvement needed from the seller.

Without gifting, that would require the middle man to place bids and the seller to accept them, which could still be automated, but seems inefficient.

I fully understand that the non transferability requires gifting, but I don't think the same is true in reverse. I do think both features have a lot of merit though, and if you'd rather keep it all as one proposal, I totally support it in full.

trevormil · 2021-08-02T11:09:05Z

trevormil
Aug 2, 2021

#105

1 reply

tijno Aug 2, 2021
Author

BidBadges is cool and for sure complimentary - and I think it would benefit for sure from these two proposed enhancements to BitClout NFTs

1 - marking NFTs on Bitclout as not for resale
2 - allowing users to transfer / move / gift NFTs to another account

DarrylGold · 2021-08-07T00:17:07Z

DarrylGold
Aug 7, 2021

Here's my use case...

I would like to create an NFT. Say 100/100. And I would like to send them to people, just as a gift. They don't have to buy them. They can just have them. And they can even resell them. And any future sales on the NFTs still have a royalty which comes back to me.

I'm trying to understand what you are proposing and I am not clear if you mean that if you gift an NFT that it can't be resold or have a royalty. Are the features are mutually exclusive? Please clarify.

Thanks.

3 replies

tijno Aug 7, 2021
Author

Proposing:

gift nft that can not be resold
sell nft that can not be resold
gift nft that can be resold

so your usecase would ge supported

DarrylGold Aug 7, 2021

Gift NFTs can be resold with royalties on resales?

tijno Aug 7, 2021
Author

They are 2 separate "features" proposed

1 - the feature to set a NFT to not for relate
2 - the feature to be able to transfer (eg gift) NFT to another account

With both of these the above 3 options are possible including your request for Gifting an NFT that the reciever could then resell.

F041 · 2021-08-10T08:49:15Z

F041
Aug 10, 2021

That would help me with a project, even though i didn't think about the 100% royalties, that would do the trick as well

0 replies

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NFTs Idea: Non-transferable option? #59

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