Author: Weilin, PANews
In this round of bull market, crypto consumer applications are becoming a hot trend. Products such as pump.fun and Polymarket have become stars among C-end users. Cryptocurrency is increasingly penetrating into the products, services and behaviors of everyday consumers. This means that the use of cryptocurrency is no longer limited to speculative trading or decentralized financial protocols. The focus of consumer crypto applications has shifted to the end-user experience, integrating cryptocurrency into daily life products such as games, social platforms, e-commerce and media.
Next, the encrypted consumer application track still contains countless innovation opportunities. Which projects will become innovations and breakthroughs? The RWA x NFT Launchpad project RareShop has brought new surprises. This world's first consumer-oriented RWA NFT product sales platform is a native innovation project on Mint Blockchain. The combination of RWA and NFT means that the application scenarios of NFT are experimentally expanded, while also connecting and integrating on-chain assets with real-world applications.
In this article, PANews will explore RaShop in depth, learn about the latest example of asset issuance on RaShop, the issuance of RWA NFT by RaShop x imKey, the innovation of RaShop's trading experience, and the technical protocol ERC-7765 behind RaShop and its developer Mint Blockchain.
RareShop x imKey RWA NFT is launched, physical delivery and potential airdrops are available
On October 8, RareShop and imKey, a hardware wallet brand under imToken, announced that the RWA NFT of the imKey hardware wallet family package, which is based on the ERC7765 asset protocol standard and issued on the Mint network, was launched at a price of $139. This is also the latest example of RareShop's asset issuance. This family package includes an imKey Pro hardware wallet, an imKey HeirBOX S1, and an imKey leather wallet.
For crypto users, wallets are the core tool to ensure the security of digital assets. imKey Pro is a high-security hardware wallet that uses the industry-leading CC EAL6+ security chip to provide government-level security protection for users' digital assets. Its excellent security has been verified in the market for 6 years, and no security incidents have occurred during this period. imKey Pro supports multi-asset management and has cross-platform compatibility.
imKey HeirBOX S1 is a mnemonic storage solution with simple design, strong stability and high security. The device supports BIP 39 standard and is compatible with most mainstream wallets. It is made of 304 stainless steel and has fireproof, waterproof and corrosion-resistant properties, ensuring the safe storage of mnemonics and resisting various environmental influences.
The imKey Leather Case is a beautifully designed accessory designed to store the imKey Pro hardware wallet and important cards. Made of high-quality leather, it is durable and stylish, ensuring that users' digital assets and important information are properly protected.
Users who purchase imKey RWA NFT can freely make physical delivery and gift giving, and will receive rich airdrop rewards from the Mint ecosystem in the future.
Innovate digital asset trading experience and create convenient and interesting transactions
As the first consumer-oriented RWA NFT product sales platform, RareShop's Launchpad has many innovative features. First, the platform supports physical delivery, and users can exchange RWA for physical goods. In addition, RareShop also provides a gift giving function, allowing users to send RWA as gifts to relatives and friends, which is convenient and fast, adding to the fun of purchase.
In terms of trading, RareShop allows users to conduct secondary transactions on MintSwap, providing liquidity and trading opportunities for RWA NFT. In addition, the platform supports a variety of mainstream crypto assets for payment, such as ETH, USDT, and USDC, which greatly facilitates the user's trading experience. In order to protect the privacy of users, RareShop uses encrypted wallets for purchases, and users do not need to perform KYC operations, which provides higher privacy protection for the purchase process.
In general, RareShop's RWA NFT asset issuance provides merchants and consumers with a new shopping scenario and interaction method, covering encrypted payment, privacy protection, product pre-sale, gift giving, physical delivery and other functions, providing global brands and companies with a new consumption and transaction experience. RareShop may also cooperate with high-quality Web2 brands in the future to strengthen its own product and brand influence and promote the large-scale adoption of Web3.
RareShop is a native innovation project on Mint Blockchain. Mint Blockchain is a second-layer blockchain built on OP Stack, focusing on the NFT ecosystem. Mint Blockchain's vision is to promote and facilitate innovation in NFT standards, and guide developers to innovate and explore NFT assets in more real-world applications, including but not limited to AIGC, games, RWA, reputation systems, membership systems, identity systems, entertainment industry, sports industry, multimedia and other fields.
Currently, the Mint Blockchain mainnet has been launched in May 2024, and the Mint ecosystem has more than 80 applications and more than 5 million wallet users. On October 15, Mint Blockchain announced that in the latest Cycle 28 of Optimism Grant, Mint Blockchain became the only Superchain approved by the OPGrant Committee and successfully obtained 750,000 OP (US$1.35 million) in funding support. The 750k OP funds obtained this time will be used to incentivize Mint ecosystem developers and introduce new users, further promote the NFT innovation and application popularization of Mint Blockchain and Superchain ecosystems, and build a richer NFT ecosystem.
Technological innovation: ERC-7765 provides a standardized solution for the exercise of RWA NFT rights
When building a richer RWA NFT ecosystem, several problems will be encountered, such as the lack of unified standards that make RWA NFTs between different projects interoperable, resulting in fragmentation; when combining NFTs on the chain with actual assets off the chain, the legitimacy and validity of both parties are difficult to guarantee; when executing RWA-related rights and ownership between on-chain and off-chain, there are technical barriers, resulting in poor user experience.
To solve these problems, a standard needs to be created that enables the rights of NFT holders to be seamlessly executed on and off the chain. RareShop is based on ERC-7765, which is designed to solve this challenge. The protocol aims to enhance the functionality of NFTs by combining NFTs with real-world assets (RWA) and enable holders to exercise specific rights associated with these assets.
ERC7765 is a new NFT asset protocol standard proposal submitted by the Mint Blockchain developer team to the Ethereum official. Currently, ERC7765 has been launched on the Mint Blockchain mainnet.
What are the characteristics of the ERC-7765 protocol? From the key features, first of all, it inherits the transfer logic of ERC-721. ERC-7765 retains all the transfer and authorization logic in the ERC-721 standard, which means that NFTs created under ERC-7765 can still be transferred and authorized like traditional ERC-721 tokens. This ensures compatibility with existing platforms and wallets that support ERC-721.
The second feature is the rights exercise function. The core innovation of ERC-7765 is to allow holders to exercise the rights associated with a specific NFT. This is achieved through the exercisePrivilege function, which enables NFT holders (or designated parties) to exercise rights, such as redeeming real-world products or accessing services. Secondly, the status of rights tracking, ERC-7765 introduces two important viewing functions-isExercisable and isExercised, which allow users and developers to check whether specific rights associated with NFTs can be exercised or have been exercised.
In addition, ERC-7765 supports binding rights to NFTs. Through the getPrivilegeIds function, users can query the rights associated with any given NFT. Finally, ERC-7765 supports metadata for rights. Similar to how ERC-721 provides metadata for NFTs, ERC-7765 introduces metadata for rights associated with tokens. These metadata include details such as the name, description, and related resources of the right, allowing users to understand the specific content of each right.
With the support of such innovative standards and unique trading experience, RareShop is actively opening up new experiences for businesses and consumers, welcoming the wave of Web3 digitalization. By combining real-world assets with NFTs, RareShop not only enriches the way products interact, but also provides innovative digital solutions for brands and businesses, and its RWA x NFT Launchpad shows new potential.
Next, RareShop will provide comprehensive Web3 digital technology services and marketing services to global brands and enterprises, making NFT a new digital lifestyle for mankind.
