Multifunctional NFT

  1. Author’s information
    name: Scott

  2. Simple Summary
    Suitable for membership cards in stores such as Starbucks, as well as concert tickets and other scenarios.

  3. Abstract
    The membership card has rich parameter settings (level, amount, status, discount rate, validity period, etc.) and can be displayed on NFT images. When consuming membership card benefits, change NFT parameters in real time and ensure full data on the chain.

  4. Motivation
    In the past, many Web2 companies were trying to issue their own NFT membership cards based on ERC721, which was just a simple credential. If more complex parameter settings, real-time status changes, and uploading to the blockchain can be achieved, the cost is low enough to attract many Web2 users to join Web3 through this feature rich membership card.

  5. Rationale
    For example, when Starbucks issues this NFT, it can set the total amount, validity period, or corresponding coffee purchase discount for the card. When users make purchases, Starbucks can obtain their NFT information through another app or terminal hardware. After completing the purchase, they can update the status of their NFT and upload the new metadata to the blockchain.
    Concert ticket category: In addition to setting basic ticket information, manufacturers can also allow users to combine their avatars into ticket NFTs when issuing tickets. After completing the consumption, the ticket status can be changed, and the completed NFT can still be kept in the user’s wallet, which is quite commemorative.
    Users can purchase such cards directly using digital currencies such as ETH for payment, eliminating the process of exchanging fiat currency. When not in use, they can also be sold in the secondary market.

  6. Specification (non-mandatory)

  7. Open-source commitment
    I commits to open-sourcing the NIP and grants permission for developers within the Mint blockchain ecosystem to build protocols and applications based on this NIP.

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