Which type of smart contract should I choose for my collectibles

Transcript

okay we're good okay no problem all right so I'm Alex Atala the CTO of open C which is a marketplace for the decentralized web we started with crypto kitties making a marketplace for users to buy and sell directly to each other and not have to trust open sea itself and on top of readjusting the marketplace make it more flexible for different types of items we recently added support for lots of other Mountain fungible and semi fungible assets and so

this presentation is going to talk about the different kinds of assets that you can make on to the centralized web what the difference is between them and how you should pick between them if you're creating your own so like I just that we started with on clinical tokens which that cannot wait to get below script Oh kitties but other examples include crypto Punk's which came before it micro big heroes which is a very large game in Japan relatively speaking at least and you can also see here gods Unchained gods on Jamie statue which recently launched its very small the hearthstone each non Ponyville token is like a

trading card similar to Magic the Gathering so there are a couple thousand projects over three thousand now bond open sea which got about a little bit over twelve million dollars in volume with over 14 million collectibles so the empty space is growing and get the way it works is and every time a new game launches it cools its users together with the users of better games similar to it and what we do to facilitate that as we let key developers group their tokens and make them searchable we

make a really good buyer experience of bias to discover new projects and we make we let sellers easily sell their items and we allow you just abundance of it together bid made English auctions that sell items the highest bidder and the other types of liquidity and if that experiences so but and this graph here shows the number of non fungible tokens smart contracts on open sea so definitely is growing exponentially and what we're seeing now is other types of smart contracts that also represent items for trading in games most activity

is in gaming and you can see kind of like a sample ranking of games on this slide the central and is similar to it's kind of like a second light vr experience we can own land and build experiences on top of it my crypto heroes to leave in Japan that I mentioned lets you buy characters upgrade them and battle them in teams crypto kitties similar to Neopets they gave me no unloved and Marvel cards lets you turn any website or any web page into a tradable token and it's pretty meta even marble marble cards themselves

and more so there's a problem with non fungible tokens because each token has to be transferred individually a non-flammable token can only be owned by one person out of time creating multi-item transfers which is necessary if you want to bundle bios is very expensive and gas so it's all while it's free to create a bundle buying a bundle it incurs a gas costs at whoever is taking the order and when you purchase the bundle basically have to tell

cerium to execute a transfer call for every single item in the bundle that means it this adds up really quickly if you do 30 items 30 or 35 items but usually it's the gas limit when this slide was made the guessing it was 8 million now it's 10 million so you can't really bundle more than 30 items together but now we've got a new type of digital asset I'm going to talk about send me funding bull tokens and this solves the problem in the way so backing up a little bit an on phone equal token is a digital

asset that one person that can own at a time they're individually Union and all distinguishable from each other 8 7 a fungible assets is not individually unique from all others in other words it's it's like an ontological token with copies so I can own take brown chairs green chairs and blue chairs I could own for blue crab serves 2 green chairs and 2 blue chips and each chair has then send me fungible because brown chairs are indistinguishable from each other a gram and brown and green chairs are distinguishable they would be individual tokens hence the slide one token multiple units so here's an example of someone selling

a non fungible assembly fungible customer may fancy kicking the pray with total price and how many units they want to sell but the commercial standard GRC 1155 is sort of the first seventy fungible token stated on aetherium and pioneers this concept so each token you know had one address given multiple copies of each division point to what point 1 a side effect of this is that each token type can be also owned by multiple people notably people can own brown shares multiple people could own a type of trading card not all trading

cards or so what is the standard he was creating it it's combined effort from multiple companies we've engine which initially started it horizon games which was making sky Weaver and the sandbox by Animoto but got a bunch of implementations now including one from 0x1 in the works from open Zeppelin and well over 20 games that are using the standard including quick day boxes use another Second Life type virtual reality experience so here are a couple examples

that are on open sea when we put together the marketplace for here so 11:55 there are a lot of new challenges and here's an example of the six dragons marketplace own open sea you can see that each one of these items is distinguishable like each card is unique and when you click into that card you'll see multiple owners for that card all all this will be fun again that's hidden contract with something like gods unchained where each card might have the same or a bunch of cards needs less might have the same name same image and

that's because they are fiercely 7:21 as an aside who's actually another type of semi-people token but he's been called a multifunctional token and that's where I mean the smart contract itself here's some solidity code for you there's a conditional for every token ID it can either beat not fungible meaning only one person can own it or some you fungible this else statement down here where there's a concept of a balance that you can have multiple copies of it this is really rare

we find any believe and meaning 0x implementations we haven't seen any we haven't seen that much about some of it although sandbox has also created its own in contract with each token can be either definitely from one or 11:55 detail here comes another type of smart contract so factory contracts are the concepts started at open sea where you can deploy a contract and and issue a lot of children's for sale without actually making those tokens to begin work so how does this work you set up

your smart contract so that it and mint to another smart contracts there's a factory contract and there's a normal collectible for the 1155 or 721 and anytime a buyer buys a token they're buying it and mending it in one transaction so a couple different companies have used this neon district a theory of knights and several others and it allows you to create this chemical Kickstarter an instant customer and more presale that automatically generates a secondary marketplace you can save your only fees for the primary sales just the

first time an item gets sold and the secondary sales which other peer-to-peer transfers of items and you also get stats and market insights the typical ranges that you get on up and see foods are an example of some of the marketplace tools Formula One's game at Boeing built the time their primary sales and initial auctions and sold their first car for 416 back in July and and they also sell individual car parts so f1 build time is an example of a multifunctional token now it's both the year two 731 and 1155 and switchable

between them all of these different children standards are filled one of the protocols and you can add metadata directly to your contract acceptable sighs I'm not sure to go back here we go sorry yeah so each one of these each one of these token standards has a separate concept of metadata the metadata can

either be on chain or option and if it's off chain there's a token URI concept where you can map JSON data to every single token it applies the 7:21 as much as it applies to love them 55 with just a few differences in the naming of the URI method you get market data including listing history for every token and they shared revenue model where users and affiliates make money with you so in question space has come a long way there are a lot of different reasons to adopt one standard versus the other and it's

the app feel free to ask me any questions or find me in twitter telegram all right they're considering building a new project and not sure which smart contract work on and that's it any questions all right thanks guys okay I just want to make sure