VEP-1155 & VEP-2881 Standard
The Nümi ecosystem has developed two very important standards for the creation, tracking, and transfer of NFTs - VEP-1155 and VEP-2881. These standards provide a solid foundation for the creation and management of tokens in the Venom and Nümi ecosystems and ensure compatibility with a wide range of applications and services.
VEP-1155: Multi-Token Standard
The VEP-1155 token standard is a revolutionary solution for the creation, tracking, and transfer of both fungible and non-fungible tokens within a collection. The Ethereum ERC-1155 token standard has been widely adopted across the Ethereum Virtual Machine (EVM) ecosystem. However, it is not compatible with the unique architecture of the Venom blockchain. To address this challenge, we developed the Multi-Token (VEP-1155) standard, which provides a distributed solution for the creation, tracking, and transfer of both fungible and non-fungible tokens in a collection. This standard offers a flexible interface that can be utilized by other applications, such as wallets, explorers, marketplaces, and more.
VEP-2881: NFT Royalty Standard
The NFT Royalty (VEP-2881) standard is a unique alternative to the widely used ERC-2981 standard in the EVM blockchain ecosystem. The VEP-2881 standard allows contracts, such as NFTs, to signal a royalty amount to be paid to the NFT creator or rights holder every time the NFT is sold or re-sold. This enables NFT marketplaces to support the ongoing funding of artists and other NFT creators, which will benefit the entire NFT ecosystem. The royalty amounts are always a percentage of the sale price. The standard takes into account the distributed nature of the Venom blockchain and its compatibility with TIP-4.1 and TIP-6.1 standards. The VEP-2881 standard is a universal royalty standard for many asset types and is not limited to just NFTs.
Benefits of VEP-2881
The implementation of the VEP-2881 standard provides a number of benefits for the NFT ecosystem. It enables NFT marketplaces to unify on a single royalty payment standard, providing ongoing funding for artists and creators. This will help to promote the growth and adoption of NFTs and encourage NFT creators to mint new and innovative tokens. Additionally, the VEP-2881 standard is a universal royalty standard, which can be integrated into any contract to return royalty payment information.
Conclusion
The VEP-1155 and VEP-2881 standards provide a solid foundation for the creation and management of tokens in the Nümi ecosystem. These standards ensure compatibility with a wide range of applications and services: they provide a standardized way for NFTs to signal a royalty amount to be paid to the NFT creator or rights holder. The implementation of these standards will benefit the entire NFT ecosystem, and promote the growth and adoption of NFTs across the Venom blockchain.