REAL WORLD ASSET NFTS
BRIDGING THE VIRTUAL ECONOMY AND THE PHYSICAL WORLD
THE VIRTUAL ECONOMY IS GROWING
The virtues and value of the Virtual Economy are being exhibited in the crucible of a global pandemic as entire industries built upon shared physical experiences have ground to a halt or experienced sharp downturns at best.
As part of the Virtual Economy, the utility of blockchain as a medium for virtual property rights has continued to mature, with crypto-assets increasing in value and institutional adoption (over $1 trillion market cap!)
A significant area of continuing growth is happening in the non-fungible token (NFT) space, with some of the world’s most popular brands, personalities, and creatives experimenting with unique digital assets for gaming, collectibles, art, and more.
STATE OF NFT MARKET
According to a joint report by Nonfungible.com and L’Atelier BNP Paribas, the total market cap of the NFT markets in 2020, excluding wash trading and dead/abandoned projects, is estimated to have been $338,035,012 with 299% yearly growth.
When contrasted with the overall market cap of crypto, BTC and other cryptocurrencies still reign. Yet these are natively digital assets. For comparison, this visualization of the world’s money and markets shows that other asset classes colossally dwarf crypto’s current value.
Which begs the question: how do we effectively bring the many trillions of investment grade assets such as gold, real estate, and fine art into the Virtual Economy in the form of globally-tradable NFTs?
the real world asset nft
What are real world asset Nfts?
A Real World asset NFT (rwANFt) is a token that denotes virtual ownership of a physical good.
While similar to established NFTs, these tokens are backed by an underlying physical asset, complete with warranties, insurance, and legal enforceability to create trust in trade.
DESIGNING REAL WORLD ASSET NFTS
An ASSET PASSPORT is a digital identity for an object in the form of a unique contractual container (legal + smart contracts) that records and manages the rights, obligations, and claims associated with a given asset (i.e. paperwork), all the while securing provenance. In fact, the rwaNFT, the ERC-721 smart contract itself, is a claim in the asset passport.
The AUTOMATED CUSTODIAN is a legal entity responsible for executing essential legal functions around an asset or group of assets as determined by the smart contract and other software. Automated custodians allow blockchains to facilitate real-world trade without requiring change to existing jurisdictional law.
Smart Property Register
The definitive, aggregate record of all asset passports comprises the Smart Property Register. Imagine a DNS for the physical world. Automated custodians function as registrars which upload goods to the global register. The SPR is the single, shared source of truth on the state of all rwaNFTs.
rwaNFTs are a universal file format for uploading physical goods to the Internet, where they can be secured, governed, traded, and utilized globally.
AND THIS IS ALL BEING DONE NOW WITH THE MATTEREUM PROTOCOL
REAL WORLD ASSET NFTS IN PRACTICE
Mattereum has already launched asset passports for a range of goods, from vintage wine, to sculptures, to Star Trek memorabilia signed off by William Shatner himself!
In the spirit of the bull market and to celebrate the Year of the Ox, Mattereum in partnership with Lohko Wallet will launch gold-backed rwaNFTs represented with appropriate digital art. The corresponding numbered gold bars are stored securely in a vault in Singapore.
Additionally, dozens of rwaNFTs paired with collectible physical items released by legendary actor William Shatner’s Third Millennia have been minted and are available to trade.
SIGNED CAPTAIN KIRK FIGURES
With rwaNFTs, new forms of ownership and utility can be programmed around an object:
democratizing access to capital, unlocking trillions in stranded value, and paving the path to a more egalitarian and sustainable society.
Join us on a path to building a better economy for ourselves and future generations!
Mattereum is a trading name and registered trademark of MTRM Industries Limited, registered in England company number 10899201. VAT registration number: GB 283834768. Registered office: 80-83 Long Lane, London, England, EC1A 9ET.