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NFT Primitives

NFT primitives are the core building blocks or protocols that enable the creation and management of NFTs. It typically includes the technical specifications and standards that define how NFTs are minted, transferred, and stored on the blockchain. NFT primitives serve as the foundation for various NFT applications and platforms, allowing developers to build new and innovative use cases for NFTs. Ternoa currently supports: Auction, Collection, Delegation, Rental, Soulbound Token, and soon Transfer Protocols.

Learn how to create your own with our Developer Guides.

Auction​

Auctions can be an exciting way to sell an NFT and have it reach the highest selling potential. An auction is a type of sale where the NFT seller sets a minimum price and a time period. Buyers can place bids on the amount they are willing to pay for the NFT as long as they are above the minimum price. At the end of the time period, the NFT is sold to the highest bidder. Auctions can be conducted on-chain, making them transparent and secure, and supporting various features such as creating, canceling, and ending auctions, bidding, removing bids, buying at a fixed price.

Auctions are valuable for several industries including gaming and entertainment industries to sell digital assets like in-game items and exclusive merchandise. In games, players can bid on unique items, creating excitement and competition. In entertainment, auctions can sell exclusive items related to movies, music, and sports events. Auctioning digital assets like NFTs creates additional revenue and engagement opportunities for companies and fans.

Collection​

Creating a collection for NFTs involves grouping together non-fungible tokens that share a common theme or attribute and organizing them. This allows for easy tracking, management, and trading of NFTs with unique properties and value. Collections are represented by smart contracts in EVM/Smart Contract based systems, but Ternoa allows users to create and own collections with consistent rules, making it easier to group NFTs with similar attributes and improve the user experience.

For example you could create a collection of NFTs that represent your favorite artists, or a collection of NFTs that all have a certain aesthetic. By organizing NFTs in this way, it's easier to keep track of them and showcase them to others. Collections with a common theme or attribute can create a sense of exclusivity and rarity, which can make them more desirable to collectors.

Delegation​

Ternoa's NFT delegation feature empowers NFT owners to share the utilities of their unique digital assets without giving up ownership. This innovative solution enables users to share the benefits of their NFTs without exchanging any money, maintaining complete ownership rights, and retaining the NFT in their wallet. With Ternoa's NFT delegation, you can confidently share your NFT's capabilities while ensuring that you retain full control over your valuable digital assets.

For example, imagine an artist who has created an NFT, but wants to share that artwork with a museum to display their work. The artist could delegate some of the utilities of the NFT to a gallery, allowing them to display the artwork as part of an exhibition. The artist would still retain full ownership of the NFT, and would be able to revoke the delegation at any time, ensuring that they maintain control over work. This type of NFT delegation could be particularly useful in the art world, where physical exhibitions and events are often used to showcase and promote artists' work. By enabling NFT delegation, artists can extend the reach of their work beyond the digital realm, while still maintaining complete ownership and control over their NFTs.

Rental​

NFT Renting allows individuals to rent NFTs they would like to borrow for a limited amount of time. A borrower can rent an NFT and gain access to exclusive content or experiences. At the same time, an NFT owner can rent their NFT to share its utility and earn passive income seamlessly. We believe Rental NFTs have endless possibilities from leveraging gaming assets, renting prime digital land, gaining access to exclusive music, and so on.

An NFT rental involves an owner of an NFT and a person who wants to borrow the NFT for a limited or infinite amount of time. The NFT owner/renter develops a contract with the guidelines on price, time period, and cancellation policy. At Ternoa, we support 2 main rental agreements with countless flexible combinations:

  • Fixed: Borrower requests NFT and the rental contract is for a fixed amount of time and set price.
  • Subscription: Borrower will pay the NFT owner a recurring payment to rent the NFT for a longer period of time

Soulbound Token​

SoulBound Tokens (SBTs), which are a particular type of NFT, but they differ in one major way: they are designed to be transferred only once.

SBTs represent credentials that are permanently tied to a user’s wallet address. For example, a person might have SBTs representing educational credentials, employment history, proof of achievement, or hashes of their writings or works of art.

SoulBounds are set to disrupt the NFT economy by reducing online manipulation and allowing users to build their reputation with their certified credentials. SoulBounds could come to represent individuals and reflect their unique traits and solidarities as they acquire SBTs that reflect their affiliations, memberships, and credentials.

With SoulBound Tokens, users can confidently showcase their achievements and skills, creating a verifiable digital identity that represents their unique qualities. This innovative feature has the potential to transform the way we view NFTs and open up new possibilities for users to establish their reputations and access new opportunities in the digital world. SoulBound Tokens are a game-changer for the NFT industry, providing a secure and reliable way for users to represent themselves and their accomplishments in the digital world.