[News] NFT primitives are revolutionizing the cryptocurrency space, providing developers with the possibility to build more complex and versatile experiences. Here are 8 examples of NFT primitives worth noting:
1. Zora Protocol Rewards: When creators mint NFTs on Zora, they can get protocol rewards by splitting the Zora minting fee.
2. ERC-6551: It enables NFTs to act as their own smart contract accounts, own assets, interact with web3 applications, and act as on-chain identities.
3. Boosts: This is a distributed incentive protocol that supports the deployment of incentives (i.e. tokens) to stimulate targeted on-chain actions.
4. DN-404: It promotes a new way to create hybrid tokens that can be used as both fungible tokens (ERC-20) and non-fungible tokens (ERC-721).
5. Nouns Protocol: It pioneered an integrated model for continuous NFT generation, auctions, and community governance.
6. Liquid Delegates: It introduces a novel mechanism that allows delegation rights to be packaged into tradable NFTs.
7. Non-Fungible Vaults (NFVs): It binds collateralized debt positions to transferable NFTs instead of protocol accounts.
8. Liquid Listings: It allows rarer non-reserve NFTs to be deposited into a collection pool in exchange for "reserve tokens".
The above NFT primitives pave the way for new innovations and new use cases around NFTs, heralding the future development direction of blockchain technology.