FungyProof has launched on mainnet! With our launch comes our full Grading, Enriching, and Displaying app, our first set of cases, and updates to our grading. Learn more about your NFTs and protect them on FungyProof.
Visit app.FungyProof.com to get started or read on to learn more!
NFTs have varying levels of quality based on their construction. Everything from smart contract properties and metadata to linked assets such as images, animations, audio files, 3D files, and more. The manner in which Smart Contract logic is written and external assets are linked varies with each NFT as well. Combined, these properties make up an NFT’s Mint Conditions. Currently, we look at over 30 data points when generating an NFTs Mint Conditions.
Grading a token consists of running these Mint Conditions through the FungyProof grading algorithm. This algorithm is a weighted, score-based system, which assigns a grade based on the technical implementation of a token as well as a few other factors such as energy usage (gas efficiency) and asset retrieval latency. For a full list of the 30+ data points we check, take a look at our Grading Rubric.
FungyProof Cases enrich existing NFTs.
Cases digitally bind to an NFT to protect it and help it stand out from the rest. Encased NFTs are added to the registry (more on this later) and are enriched in some way. Our first set of cases enrich your NFT by backing it up into decentralized storage (IPFS + Filecoin). This immortalizes the NFT’s Mint Conditions and improves asset and metadata storage, thus improving your NFTs grade. Future cases will enable other enrichments such as carbon offsets, Arweave permaweb storage, attaching encrypted data, earning achievements, and more.
Our first set of cases include the standard FungyProof Case and the limited Neon Cases, which support ERC721s and many non-standard NFTs (CryptoPunks, CryptoKitties, etc.). Over time more cases will launch with new functionality, rarities, and support for more chains.
Cases are a new token standard we've developed known as a Non-fungible Enrichment (NFE) that enables NFTs to own other NFTs. With cases, you can associate new data to your token without having to wrap or otherwise affect it. Once an NFE is bound to a token, any data associated with the NFE, such as the token backup, is then tied to the NFT provably and immutably.
The glue between the FungyProof case and the NFT registry is the Ceramic metadata.
Using Ceramic enables FungyProof to offer one of the first append-only metadata implementations for NFTs. When you bind a case to an NFT a metadata file is also generated and stored with it. Changes that occur to the NFT's data, such as grading, new enrichments, and transfers get appended to the metadata creating a historical audit trail. This type of metadata opens the door to unlimited possibilities for enrich-able NFTs.
Non-Fungible Enrichment Diagram
FungyProof is just getting started. Our future plans include: new types of enrichments, browser extensions, marketplace and wallet integrations, economic incentives for community contributions, and more. Check out our roadmap to see our list of planned updates.
Head over to app.fungyproof.com to grade and enrich your NFTs!