Author: Weilin, PANews
In the current bull market, crypto consumer-facing applications are becoming a popular trend, with products like pump.fun and Polymarket becoming stars among end-users. Cryptocurrencies are increasingly penetrating the products, services and behaviors of everyday consumers. This means that the use of cryptocurrencies is no longer limited to speculative trading or decentralized finance protocols. The focus of consumer-facing crypto applications has shifted to end-user experience, integrating cryptocurrencies into everyday life products such as games, social platforms, e-commerce and media.
Going forward, the crypto consumer-facing application track still holds countless innovation opportunities. Which projects will become the innovation and breakthrough points? The RWA x Non-Fungible Token Launchpad project RareShop brings new surprises. This is the world's first consumer-facing RWA Non-Fungible Token commodity sales platform, a native innovation project on the Mint Blockchain. The combination of RWA and Non-Fungible Tokens means experimentally expanding the application scenarios of Non-Fungible Tokens, while also connecting and integrating on-chain assets with real-world applications.
In this article, PANews will delve into RareShop, understand the latest example of asset issuance on RareShop - the RWA Non-Fungible Token issuance of the RareShop x imKey collaboration, the innovative aspects of the RareShop trading experience, and the technical protocol ERC-7765 behind RareShop and its developer Mint Blockchain.
RareShop x imKey RWA Non-Fungible Token Launched, Offering Physical Delivery and Potential Airdrops
On October 8th, RareShop and imToken's hardware wallet brand imKey announced the launch of the RWA Non-Fungible Token of the imKey hardware wallet full set package on the Mint network based on the ERC7765 asset protocol standard, priced at $139, which is the latest example of asset issuance on RareShop. This full set includes an imKey Pro hardware wallet, an imKey HeirBOX S1, and an imKey leather wallet.
For crypto users, the wallet is the core tool to secure digital assets. imKey Pro is a high-security hardware wallet that uses the industry-leading CC EAL6+ security chip, providing government-level security protection for users' digital assets. Its excellent security has been market-tested for 6 years, during which no security incidents have occurred. imKey Pro supports multi-asset management and is cross-platform compatible.
imKey HeirBOX S1 is a simple, stable and highly secure seed phrase storage solution. The device supports the BIP 39 standard and is compatible with the vast majority of mainstream wallets. It is made of 304 stainless steel, with fire-resistant, waterproof and corrosion-resistant features, ensuring the secure storage of seed phrases and resisting various environmental impacts.
imKey Leather Case is a beautifully designed accessory, specially designed to store the imKey Pro hardware wallet and important cards. Made of high-quality leather, it is durable and fashionable, ensuring the proper protection of users' digital assets and important information.
Purchasers of the imKey RWA Non-Fungible Token can freely perform physical delivery and gift giving, and may receive rich airdrop rewards in the Mint ecosystem in the future.
Innovative Digital Asset Trading Experience, Creating Convenient and Interesting Transactions
As the first consumer-facing RWA Non-Fungible Token commodity sales platform, RareShop's Launchpad has multiple innovative features. First, the platform supports physical delivery, allowing users to redeem RWA for physical goods. In addition, RareShop also provides a gift-giving function, enabling users to send RWA as gifts to friends and family, making the purchase more convenient and enjoyable.
In terms of trading, RareShop allows users to trade on MintSwap, providing liquidity and trading opportunities for RWA Non-Fungible Tokens. Additionally, the platform supports multiple mainstream crypto asset payments, such as ETH, USDT and USDC, greatly facilitating the trading experience for users. To protect user privacy, RareShop uses encrypted wallets for purchases, and users do not need to undergo KYC, providing higher privacy protection for the purchase process.
Overall, RareShop's RWA Non-Fungible Token asset issuance provides brand-new shopping scenarios and interaction methods for merchants and consumers, covering crypto payments, privacy protection, pre-sales, gift-giving, and physical delivery, offering a new consumer and trading experience for global brands and enterprises. RareShop may also collaborate with high-quality Web2 brands in the future to strengthen its product and brand influence, and promote the large-scale adoption of Web3.
RareShop is a native innovation project on the Mint Blockchain. Mint Blockchain is a second-layer blockchain built on the OP Stack, focusing on the Non-Fungible Token ecosystem. The vision of Mint Blockchain is to drive and promote the innovation of Non-Fungible Token standards, guiding developers to innovate and explore Non-Fungible Token assets in more real-world applications, including but not limited to AIGC, gaming, RWA, reputation systems, membership systems, identity systems, entertainment industries, sports industries, multimedia and other fields.
Currently, the Mint Blockchain mainnet was launched in May 2024, and the Mint ecosystem has more than 80 applications and over 5 million wallet users. On October 15th, Mint Blockchain announced that in the latest Cycle 28 of the Optimism Grant, Mint Blockchain became the only Superchain approved by the OPGrant Committee and successfully received $1.35 million (750,000 OP) in funding support. The 750k OP funding will be used for Mint ecosystem developer incentives and new user acquisition, further promoting the Non-Fungible Token innovation and application popularization of the Mint Blockchain and Superchain ecosystem, and building a more vibrant Non-Fungible Token ecosystem.
Technological Innovation: ERC-7765 Provides a Standardized Solution for the Exercise of RWA Non-Fungible Token Rights
When building a richer RWA Non-Fungible Token ecosystem, several issues may arise, such as the lack of a unified standard leading to interoperability issues between different projects' RWA Non-Fungible Tokens, making them fragmented; the difficulty in ensuring the legality and validity when combining on-chain Non-Fungible Tokens with off-chain actual assets; and the technical barriers in executing rights and ownership related to RWA between on-chain and off-chain, resulting in a poor user experience.
To solve these problems, a standard needs to be created to enable the seamless execution of Non-Fungible Token holders' rights both on-chain and off-chain. RareShop is based on ERC-7765, a standard designed to address this challenge. The protocol aims to enhance the functionality of Non-Fungible Tokens by combining them with real-world assets (RWA), and enable holders to exercise specific rights related to these assets.
ERC7765 is a new Non-Fungible Token asset protocol standard proposal submitted by the Mint Blockchain developer team to the Ethereum official. Currently, ERC7765 has been launched on the Mint Blockchain mainnet.
What are the key features of the ERC-7765 protocol? First, it inherits the transfer logic of ERC-721. ERC-7765 retains all the transfer and authorization logic in the ERC-721 standard, meaning that Non-Fungible Tokens created under ERC-7765 can still be transferred and authorized like traditional ERC-721 tokens. This ensures compatibility with existing platforms and wallets that support ERC-721.
The second feature is the privilege exercise function. The core innovation of ERC-7765 lies in allowing holders to exercise privileges related to specific Non-Fungible Tokens. This is achieved through the exercisePrivilege function, which enables Non-Fungible Token holders (or designated parties) to execute privileges, such as redeeming real-world products or accessing services. Additionally, ERC-7765 introduces two important viewing functions - isExercisable and isExercised - which allow users and developers to check whether a specific privilege related to a Non-Fungible Token can be exercised or has already been exercised.
Furthermore, ERC-7765 supports binding privileges to Non-Fungible Tokens. Through the getPrivilegeIds function, users can query the privileges associated with any given Non-Fungible Token. Finally, ERC-7765 supports privilege metadata. Similar to how ERC-721 provides metadata for Non-Fungible Tokens, ERC-7765 introduces metadata for the privileges associated with the tokens, including the name, description, and related resources, allowing users to understand the specific details of each privilege.
With this innovative standard and unique trading experience, RareShop is actively opening up new experiences for enterprises and consumers, embracing the Web3 digital wave. By combining real-world assets with Non-Fungible Tokens, RareShop not only enriches the product interaction methods, but also provides innovative digital solutions for brands and enterprises, showcasing the new potential of its RWA x Non-Fungible Token Launchpad.
Next, RareShop will provide comprehensive Web3 digitalization technology services and marketing services for global brands and enterprises, making NFT a new digital lifestyle for humanity.
