EssenceNFT

EssenceNFT 📝

EssenceNFT is a generic NFT that individual ProfileNFT holders can issue to represent any piece of content (ex. social media posts, videos, blog publications). Each EssenceNFT can be configured with rules like pay-to-mint (crowdfunding), hold-to-mint (community participants), etc. It can be also configured as a tradable NFT or a non-transferable soul bound token (SBT) to represent a given role such as investor, patron, team member, community participant, etc.

To build trust and authority, each content is tied to a profile, so users will need to create their profiles before they can create contents. Each content can be collected based on dynamic rules.

Example use-cases / implementations of EssenceNFT

Post

Each profile could create a new piece of content in the form of a post just like that on twitter or medium. However, by having those posts live on CyberConnect protocol, these posts become web3 native instrument for community engagement and financialization through users collecting those posts. Developers could create a content platform linked to funding public good where users could contribute some amount of token to each piece of article.

Web3 Status Token (W3ST)

Web3 Status Token (W3ST) is a CyberConnect-designed Soulbound Token (SBT) to power social status building on the internet. W3ST is a Web3-native way of representing status, affiliations, memberships, and endorsements while serving as a user’s verifiable digital reputation, corroborated by other ccProfiles.

Web3 Status Token or W3ST (pronounced as “west”) is the web3 native way of recognizing, owning and utilizing one’s status. Each status is given by a profile to a user as long as the user satisfy the rules for gaining that status. The common status include “community member”, “investors” and “event participant”. Check out this blog for details about W3ST.