With the impact of NFTs being felt across the cryptocurrency and mainstream arena, the Nervos Network is excited to be partnering with IAMM, a protocol looking to make decentralized digital goods a native component of the web.
IAMM will be building a prototype on the Nervos Network that will usher in ‘Smart’ NFTs, the next evolution in the burgeoning NFT space. IAMM’s NFTs will operate on a far more sophisticated level as compared to traditional NFTs today as they will have the ability to act as continuous value & revenue streams for creators.
IAMM NFTs are smart, programable, and autonomous offering creators far more control over how they are consumed and a lot less restrictions compared with traditional, one-sided NFTs.
Currently, the economic model for content creation is very linear with royalties, donations & patronage, IP, and DRM working rather inefficiently. These methods do not allow for creators being rewarded for the ongoing impact of their creations.
With IAMM NFTs, built on Nervos, creators will experience continuous revenue streams based on the verifiable interaction and use of their NFTs across the web of digital goods.
IAMM enables ecosystems and micro-economies to emerge around the NFT creations. Sophisticated communities, collaborative initiatives, and sub-tokens can be imported into these NFTs through ‘policies’, which are programs designed to enrich an NFT with functionality in a safe and secure way benefitting from the liquidity of the Universal Reserve – the global token of the IAMM network – $MKT.
“The way NFTs have come to be recognized in the mainstream so rapidly speaks volumes about the demand for digital goods,” Co-founder of Nervos, Kevin Wang, said. “However, this space is only just getting started and there is a lot more potential out there. We are excited about what IAMM can do, and their mission to liberate creators is something that needs to be entrenched in the NFT space earlier rather than later.”
“IAMM is designed to liberate creators from the constraints of the current NFT paradigm. NFTs today are like static, predefined documents. Even the most advanced NFTs in production are just rigid boxes with extra space. Creative potential cannot be unleashed by boxing it in. A stack of boxes doesn’t count as composability. That is why we are building a protocol to enable rich, dynamic, fluid digital structures that take shape at the will of the creator. NFTs on IAMM aren’t just tokens; they’re entire microcosms. Build a world and carry it around in your wallet” said Tannr Allard, founder of IAMM.
NFTs have awoken a new avenue of digital content creation, but the marketplaces and economic model are still rather primitive based on the current technological hurdles. Nervos hopes to usher in the era of smarter, more functional NFTs with IAMM that allow value to flow back to the creators so they can keep doing what they do best.
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