Hello to the Secret community! Today we’re excited to feature a new Secret App on our blog: Stashh, the first marketplace for Secret NFTs with privacy by default. Stashh is currently in a private beta phase – learn how you can sign up to get updates and join the core community of early Stashhers! 🤫💎
NFTs (non-fungible tokens) are a powerful concept, introducing provable digital scarcity for creative works, in-game items, collectables, financial assets, and more. But up until today, NFTs have had major limitations for creators, collectors, and consumers that prevent NFTs from reaching their full potential as a disruptive technology.
That limitation is privacy.
Ownership of an NFT without privacy ties online identity directly to wallet addresses, doxxing all of an individual’s on-chain financial decisions permanently simply for owning an NFT. VISA struggled with this very problem on Ethereum, receiving 100s of NFTs (some explicit) once their wallet was doxxed after the purchase of an NFT.
Creators of NFT also want the ability to gate access to components of their content and art behind the purchase of an NFT, enabling monetization and creating a direct relationship with collectors and communities. Privacy and encryption are required for this to be possible, but since all public blockchains have been public by default (up until Secret Network!), users and platforms have been stuck using centralized off-chain solutions to handle this fundamental challenge.
As a private-by-default Layer 1 foundation, Secret Network enables the first NFTs with programmable privacy, unlocking the next generation of functionality, utility, and value for NFTs in Web3. We believe this is the revolution that will elevate NFTs from billions to trillions in value – and due to the native privacy controls, that value can be sustained and grow.
Secured by Secret Network, Stashh is the first full-stack marketplace and platform for NFTs with native privacy, allowing creators, collectors, and consumers to truly benefit from and control the Web3 digital economy.
Launching on mainnet in November, Stashh’s roadmap contains the following important features:
- Content and financial privacy for artists
- Private-by-default ownership for collectors
- On-platform minting and secondary sales
- Trustless access control
- Public/private metadata, with private content for owners only
- Private galleries (v2)
- Private auctions (v2)
Using privacy-first NFTs, creators can monetize their content and protect their IP, while giving consumers trustless control over how they buy, display, use, and trade their NFTs. Privacy-first NFTs can also contain public metadata which is known to all parties as well as private metadata known only to certain parties (such as the owner or creator). Finally, NFT owners have the choice of whether to reveal their ownership of an NFT or not, giving users more security and control.
Stashh will support minting of new collections as well as imported collections of NFTs, such as ANONs (the first PFP project on Secret Network). Users can then buy and sell their Secret NFTs for any supported secret token (such as sSCRT). You can also create a single listing to sell multiple copies of the same NFT, which will have serial numbers, that only get minted when someone buys one instead of having to pay gas to mint a bunch first and sell individually!
Secret NFTs on Stashh empower 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. Additionally, an artist can choose to embed their work with secret commentary or additional content unrevealed to the public, like a baseball card with a personalized message from the player, or a digital treasure map hidden within an auctioned piece of art.
With Secret NFTs on Stashh, verifiable ownership of goods and experiences does not have to be public to everyone by default. Secret Network’s process of validation occurs without compromising any private data, including proofs of authenticity and transfers. And it all happens at Layer 1, without requiring any centralized solutions!
Of course, there is a lot of secret news still to come regarding Secret NFTs… 🤫
Stashh Twitter: https://twitter.com/StashhApp
Stashh Discord: https://bit.ly/secretnfts
Secret NFTs Telegram: https://t.me/secretnfts
Onwards & Upwards!
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