ERC9988/XMF-NFTs: Extended Multiphase Fractional NFTs
Overview
ERC9988 proposes a novel approach to asset management within supply chains, blending the unique identification of ERC721 (Non-Fungible Tokens) with the fractional ownership offered by ERC20 (Fungible Tokens) standards. This hybrid standard enables seamless asset transition through multiple supply chain phases.
Real-World Use Cases
Supply Chain Management
Efficiently track and manage assets through various stages, from production to consumers.
Artwork and Collectibles
Facilitate the ownership and trade of limited editions or copies derived from an original piece.
Real Estate
Manage fractional ownership of property, allowing multiple investors to own and trade portions of real estate assets.
Gaming
Enable unique in-game items to be fractionally owned and traded, enhancing the dynamics of virtual economies.
Illustrative Scenario
- Consider a manufacturer of coffee, who produces pallets each containing 100 boxes, with each box housing 20 packets of coffee.
- -The manufacturer mints an NFT for a pallet, turning the inventory into a single, traceable asset.
- -The manufacturer sells the pallet to a distributor who breaks the NFT down into 100 x phase 1 fungible tokens each representing a box of 20 packets of coffee.
- -The distributor sells a box to the shop keeper who breaks the phase 1 token down into 20 phase 2 tokens each representing a packet of coffee.
- This system makes it simpler to track where a line of products has gone which makes it easier for product recalls aswell for supply requirement predictions as all the data is clear for the supplier to see.