Combinable NFT development – How to Create Next Gen Combinable NFT Marketplace With EIP-3664 Standard?marketing NFT Marketplace Development
Have you noticed any shift in the NFT market? If you did, then you must all be aware of the groundbreaking innovation of a new NFT token standard. Before jumping into the topic, let us first give you a picture of why is this shift in the NFT marketplace necessary.
NFT marketplace, as we are all aware of is a trading forum for crypto enthusiasts to venture out there and earn huge bucks. As the NFT market going far over the trade volume of $30 billion with their digital assets, it is high time the developers gave us a refreshing concept of creating NFTs. However, any development is prone to seamless change and that, in the crypto world takes a new form named Combinable NFT marketplace development. This blog will dilettante this novel entry of the Combinable NFT marketplace to the digital world.
What is significant about the EIP-3664 Token Standard?
EIP-3664 is another NFT token standard, following the suit of ERC-721 and ERC-1155. However, the major twist with this particular NFT standard is that they are intended to give a much better functionality to its user. This next-level NFT development offers the user a great infrastructure to the assets, thereby giving them the ability to be divisible, especially combinable.
EIP-3664 NFT development is horizonless, as they make the user come up with a wide range of combinations made from the assets. For instance, from different NFS available, the user can divide and pick the characteristic they like from that particular asset, and collect such unit elements to make up an entire asset. This extendability of customization in an NFT verse can be utilized for any NFT operation in the blockchain.
Prevalent Attributes of combinable NFTs
The combinable attribute to the digital asset makes the user have innumerable dimensions of NFTs, all unique. The properties of the combinable NFTs are as given below,
- Modifiable, as these NFTs are malleably resulting in different other NFT combinations. For example, these NFT standards allow the users to tweak the NFT as they wish, theory increasing the value of the asset or changing the attribute even.
- Separable, as the combinable NFTs can be traded, even with a single element, rather than a whole NFT. For instance, if the NFT is an in-game asset, the user can trade a single attribute instead of the entire NFT, increasing the value of the NFT multiple folds.
- Combinable, as the name suggests, the EIP-3664 NFT Token Standard, creates a forum for the users to try out thousands of combinations, bringing out a rare NFT everytime, despite their familiarity.
- Deconstructible, as these assets are meant to be traded by assembling and disassembling the NFTs thus creating new combinations. The unique quality given by this attribute to the platform and the asset is that when an asset is deconstructed it gives birth to another attribute addibility, which together scales up the value of the asset across metaverses.
World’s first Combinable NFT Marketplace – MetaCore
D’republic’s MetaCore, an NFT identity system, is the world’s first NFT trading platform that is specifically designed and developed for the EIP-3664 NFT development. MetaCore is a platform that has already adopted to many metaverse blockchain-based games including legoot. Their largely operating protocol and layer-2 ecosystem creates a much secure and safer environment for the assets to be traded, even in units. MetaCore, is an NFT marketplace that strives to keep up with its initial motto of providing ceaseless opportunities of owning unique digital assets. The workflow of the MetaCore is very much like other NFT marketplaces. That is, they are also integrated with automating smart contracts to trace back to the transactions of assets in the platform.
They are open-sourced, blockchain-based, highly customizable NFT marketplaces in the crypto industry. Since the NFT standard is designed in such a way that it stimulates the creativity of the user, the platform becomes much more interactive and customizable. The identity system of the platform takes over the process of assigning unique MetaCore Identity to the users with which they can collaborate and connect with multiple metaverses.
As mentioned above, since they are not restricted with limits to customization, the token standards can also be applied to range of virtual goods. video games, arts, social media, metaverse and many more other examples of cross-functional quality to their digital assets.
Now that we have seen the essential aspects of the Combinable NFT marketplace, let us take a closer look at their development.
Combinable NFT marketplace’s predominantly flexible attributes
- Modifiable attributes
The Combinable NFT marketplace’s unique concept is to modify the NFT. That is, with given assets, the EIP-3664 NFT development gives the asset the property to change both its attributes and values.
- Transferable attributes
For this attribute, the time of deconstructing the digital asset is made transferable to another NFT, if any critical circumstances should arise. Like any kind of damage made to the NFTs, etc.
- Upgradable attributes
Upgradable attributes in the EIP 3664 standard is that these assets can be taken to the next level in the platform by paying a set amount of fee by the platform.
- Evolvable attributes
This feature of the assets with security of the blockchain technologies catalysts over time and they are evolves naturally. That is, with time, the characteristics and properties of the NFT, they can transform.
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Use-case scenarios of the Combinable NFT marketplace development
Along the blog, we saw the first ever NFT trading marketplace, MetaCore to offer these extensively flexible assets to be traded. Some of the other use-case scenarios from the real world are expounded below.
They are licensed and are also supported by IP managers. That is, the Monroe family, the Base’s team from the United States and Europe gives them brand value along with the good resource. Some of the first brands in the crypto market to collaborate with EIP-3664 standards are CGI monroe NFT, FENDI, MiuMiu, Balenciaga and several first-line organizations.
Utilizing the aspects of combinable NFT standards, MM3NFT, works by assembling and disassembling the NFTs to several fragments, while still maintaining the original NFT. By doing this cycle of deconstructing and their addibility feature, not only they result in various combinations but also makes the NFT rare. They work by automatically generating the component of their trinklets in the marketplace on their hosting platform. This MM3NFT has interested many other users and crypto community, ranking 8th with their trading volume in the largest marketplace’s in the industry OpenSea.
- Cradles: Origin of Species
Cradles are designed and developed with a pre-historic set up, to offer role-playing, action-based GameFi games for the users. They proffer refreshing and intriguing concepts of taking the user to different time period, or drought, or anything for that matter. They are the first chain game to use EIP 3664 NFT development, working with a subscription-based revenue-generating protocol. That is, this engaging game is a long-term user-engaging platform that utilizes the potency of the tradeability of NFTs.
Alike MetaCore, they are also developed by the D’Republic Labs, which emphasizes on the player’s comfortability and the cutting-edge gameplay, by constantly maintaining their customized GameFi ecosystem. Receiving their private funding from multiple enterprises like Huobi Ventures, Everse capital, Unix Gaming, LD capitals, etc., cradles established the completion of their seed round with $1.2 million.
- Legoot : The real LEGO loot
They are basically the NFT Loot boxes that come with enormous NFT-based gifts and rewards, with very limited functionality. However, it is also mentionable that these Legloot comes along with the MetaCore, which enables them to reach maximum potential of the EIP-3664 NFT token standard. Their loot properties in this platforms are changeable.
The real LEGO loot’s legoot NFT assembly toy, allows the user to freely assemble and disassemble the NFT products in hope to be sold as individual assets in the near future. Since they are mounted together with MetaCore, their NFT digital identity mechanism helps breakdown a single property into multiple pieces. Intriguing isn’t it?
What can we expect from them in the future?
Informing a lot about the peculiarities of these interestingly developed assets, we should not forget the fact that they are creating a new trend. Since the players are no longer restricted to sticking to a plan of buying a static art asset, EIP 3664, just said, let me tweak myself a little bit!
Though they are not much utilized by users now, its promising qualities, which offer both tangible and intangible benefits for the users is hugely enticing. The flexible ecosystem at MM3, is the game where the user goes on a journey to sea stars in the web3 platform.
Offering all the necessity elements to stay intact to the society and interact, this NFT marketplace development from our end is also focused on delivering a secure ecosystem. In the near future, it is expected that, this dividing and adding ability to an NFT, not only creates opportunity but also makes sure that all the NFTs are having the ‘rare’ prefix to them.
Our take on EIP-3664 Token Standard
We are a blockchain-based development company reigning since 2017, for proffering their first ever blockchain-based platform. Our developers and the support team have gone through mountains to gain in-depth knowledge about this domineering technology. Considering that, the adept NFT marketplace developers given with your intriguing NFT collection, promises to deliver one of the market’s best EIP-3664 NFT development.
Of course, given the nature of these NFTs to produce thousands of combinations of the assets, it is indeed challenging. We offer attentive and intricate customization for your NFT platform to ensure the combinable NFT marketplace is futuristic with intense virtuality integrated for a great user experience. Do you want to learn more about these enchanting digital assets? Get our NFT marketplace development service to proliferate your business concept to reality!