What are Secret NFTs?
Secret NFTs are non-fungible tokens with programmable privacy features that live on Secret Network. Perhaps one of the most confusing words in all of blockchain / crypto, “fungibility” is not just a spectrum. It’s a complex idea with a simple premise: things are always either the same or different. If exchanging two items would be meaningless, they are fungible. For example, if you and I both give each other a dollar, the only difference would be the serial numbers and relevant context of minting. You might say dollars are mostly fungible, but perhaps non-fungible if you care about the serial number or how they were created.
With Secret NFTs, validation of fungibility happens without opening verifiability to everyone. In other words, verifiable ownership of goods and experiences does not have to be public! On Secret Network, the process of validation occurs without compromising any private data, including proofs of authenticity and transfers. This way, our ecosystem is flipping the script of crypto art, in order to empower content creators and protect digital rights!
Traditional NFTs vs Secret NFTs
Secret NFTs were designed based on the Ethereum ERC721 token standard and maintain many positive characteristics of traditional NFTs. These unique items can be used for a variety of purposes, but generally, we believe tokens ought to be private if they represent our personal goods and experiences.
Public and private metadata
Secret NFTs support both public and private metadata. Because providing programmable privacy is fundamentally about choice, you can also choose to make ownership and/or private metadata completely public for anyone to see if you desire! Secret NFTs provide an optional private metadata field. This unlocks use cases like NFT art with embedded secret links to high-quality images, game items with hidden abilities, and other unique functionality for creators and collectors!
Since NFTs are designed to be scarce, anyone can know who owns a traditional NFT and identify individuals. Allowing for private ownership of NFTs ensures assets and transactions do not need to be exposed to everyone – critical for many use cases!
Secret NFTs allow creators to choose who has full access to their content. An artist can make a thumbnail or watermarked version of the image public so people have an idea of what they are buying, but the full resolution version is private and must be purchased to view it.
Build Secret NFTs
If you are interested in creating Secret NFTs or NFT based applications on Secret Network, come join our developer community! Our team is already working with a number of developers to build new Secret NFT applications, and we would love to collaborate and share resources with you.
By building privacy-preserving Secret NFTs, you can make NFT usage more secure across the multiverse of blockchains.