Peaq, one of the web3 networks that are powering the Economy of Things (EoT) has announced an integration with Nexera Protocol, a next-gen standard for NFTs and interoperable metadata developed by AllianceBlock.
The integration will see peaq become the first layer-1 blockchain in the wider Polkadot and Kusama ecosystem to support its MetaNFT (mNFT) standard, which is currently exclusive to Ethereum Virtual Machine-compatible networks.
Till Wendler, co-founder of peaq said, “NFTs are the perfect tool for handling peer-to-peer asset ownership in an increasingly connected world. Nexera’s mNFTs address the deficiencies of today’s most popular NFT standards, offering developers a malleable tool to leverage as part of any business logic. We are looking forward to making this standard accessible to the entire Polkadot and Kusama community through this integration.”
Built on the ERC-721 stand for NFTs, Nexera’s MetaNFT protocol increases the level of programmability for NFTs, which can be thought of as data containers for any class of digital assets. Developers can add or remove properties, including restrictions to tokens, which makes them mutable without the need to compromise their non-fungibility.
“In the future, mNFTs will power entire industries, including non-blockchain-native ones,” says Rachid Ajaja, Co-Founder at AllianceBlock. “These NFTs that act as data storage and are mutable, extensible and composable, makes them the perfect building blocks for any business logic running on peer-to-peer and privacy-first principles. Nexera’s MetaNFTs open up a huge amount of use cases that weren’t possible before, enabling things like confirming your identity at an EV charger without revealing personal information or checking the seller’s validity on a machine data marketplace. This ensures privacy and security without compromising on decentralization values, something that both peaq and AllianceBlock strongly believe in. This partnership expands the MetaNFT standard and we’re thrilled that this standard will be accessible to their community.”
Several behemoth brands have been jumping on the NFT bandwagon recently including Manchester United and Game of Thrones. This newest integration will allow peaq community builders to leverage mNFTs and power a vast array of cases including privacy-first user and machine identification.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
