Multi-Resource NFTs — An Innovation For the Future
An upgrade to all NFTs on Ethereum, Solana, etc.
Right now, most NFTs are fundamentally flawed for their intended and future use cases. Why? Because when it comes to true implementation (actually using the NFTs in a decentralized and censorship resistant manner), nearly all NFTs (including those on Ethereum and Solana) fall short of their potential. To understand why this is so, we must come to terms with what an NFT Resource is.
What is an NFT Resource?
When you go on NFT marketplaces, you will find NFTs on the homepage represented by thumbnails (low-size images). It is natural to think that this thumbnail is part of the NFT (and in a true implementation, this should be the case, but wait and see).
Say you’re interested in one of these NFTs, you click on the thumbnail and go to the NFT page where you find the NFT in greater detail. You click buy and voila, the NFT is now yours…right? Wrong!
In most cases, what you have bought is a link to a file that exists on another computer (or database). Even the thumbnail you clicked doesn’t belong to the NFT. It belongs to whichever NFT marketplace is hosting said NFT. Usually, the marketplace would create this thumbnail from the main NFT and store it on their own computers. But this is a problem because it violates true ownership of an NFT. How would you feel if two years after buying an NFT you found that your NFT’s artwork is gone and all that is left is a broken link/image?
The reason why this set up has become the dominant form of NFT implementation is because none of the existing NFT protocols create room for multiple NFT Resources. As a result, every protocol treats an NFT as one single file. If it is a cryptopunk, it can only be that cryptopunk (specifically, the high resolution image). Hence, for OpenSea to display it, they need to create a new file for the NFT thumbnail (by downsizing the main file and storing it on their computers).
Thus, an NFT Resource is simply a file that is part of the NFT.
Single-resource NFTs and their limitations
All NFTs on Solana, Ethereum, Flow, you name it, have only single-resource capability. Meaning that any new resources must be created by someone else and linked back to the NFT in a centralized manner.
Asides the problems of centralization that single-resource NFTs carry, single-resource limitation also leads to a subpar NFT experience for creators and collectors. To better appreciate this point, let’s consider two scenarios.
In single-resource NFT protocols, a book NFT can only be the PDF file of the book. Overlooking the necessity of a thumbnail file, there is also the fact that if the audio version of the book ever becomes available, it will need to be minted as a new NFT.
Most PFP NFT collections aim to exist in the metaverse. Unfortunately, almost all of them are not equipped for such a future due to their single-resource limitation.
To enter a metaverse, an avatar will need to conform to the design specifications of said metaverse. A 2D Bored Ape cannot materialize in a 3D metaverse. To make the Bored Ape compatible, a new 3D representation of the 2D Ape needs to be created by an artist and then minted as a new NFT. Thus, the owner of the 2D Ape will end up with two NFTs of the same NFT. That doesn’t read right, yeah? How can two NFTs be one NFT? Now imagine that there are 10 metaverses with their own unique design parameters. The ape holder will need 10 different NFTs of the same NFTs. That is chaotic.
But what if there was a protocol that allowed every NFT to have as many resources as the creator deems necessary to fully express the NFT? Enter RMRK.
RMRK is a next-generation NFT protocol that equips NFTs with superpowers using its suite of NFT legos. The RMRK protocol makes it possible for NFTs to own other NFTs, change based on conditions, have multiple outputs depending on context, accept emojis, and act as DAOs (decentralized autonomous organizations). For this article, we will focus on RMRK’s multi-resource functionality. You can read about the other legos here and here.
Multi-resource NFTs
Every RMRK-based NFT has the ability to have an infinite number of resources. For example, you have a book NFT with three resources — PDF file, mp3 audiobook, and PNG thumbnail:
- The PDF file will be loaded if the NFT is accessed on a book reading app or website.
- The MP3 audiobook will be loaded if the NFT is accessed on an audio streaming service.
- The PNG thumbnail will be loaded if the NFT is accessed via a marketplace.
In the case of a PFP avatar who needs to enter 10 metaverses with different design parameters, RMRK’s multi-resource functionality ensures that all 10 variations of the avatar will exist in one NFT file forever. With such an implementation, it is much harder for:
- PFP NFT projects to rug holders
- NFT holders to lose their beloved avatar because the file link is broken.
The multi-resource functionality has more use cases beyond making the NFT delivery experience smarter and more decentralized. It can also be used to make NFT security more robust.
Multi-resource for robust security
Currently, most NFTs are stored on IPFS, meaning that the NFT has a link to the resource which is hosted on IPFS. But the thing about IPFS is that, unless your content is constantly being interacted with, you have to pay to pin your content to nodes (another way of saying you incentivise storage providers to host your files for x amount of time). If your NFT resource goes for a long time without interaction, there are high chances that you will find a broken link next time you check on an NFT marketplace (unless the marketplace stored your NFT resource in their centralized servers).
Using the RMRK protocol, you can add other resources to the NFT (which are just duplicates of the same NFT). These new resources, rather than be pinned to IPFS, will use another service (Crust, Arweave, AWS, etc.), thus further decentralizing the storage of the NFT and ensuring its future availability with greater redundancy.
Conclusion
If NFTs are to take over digital commerce as they are poised to, they need to be smarter and more secure. Single-resource NFT protocols are subpar for these purposes. A much better alternative is multi-resource NFTs as introduced and implemented by RMRK. You can play with the concept right now on Singular, a next-level NFT marketplace, and Kanaria, RMRK’s flagship Modular NFT PFP project that features multi-resource bird NFTs that can own and equip other NFTs.
About RMRK
RMRK is a next-generation NFT protocol that equips NFTs with superpowers, making it possible for NFTs to own other NFTs, change based on conditions, have multiple outputs depending on context, accept emojis, and more.
With these legos, RMRK enables the creation of the most advanced NFT projects the world has ever seen, while remaining compatible with archaic standards like ERC721 and ERC1155. You can explore this right now on Kanaria, RMRK’s flagship Modular NFT project; join the revolution in Skybreach, a truly decentralized metaverse; or trade advanced NFTs on Singular, the advanced NFT marketplace.
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