What blockchain technology is your platform built on and why was this technology selected?
What blockchain technology is your platform built on? Why was this technology selected and how will it shape your company’s long-term vision? The platform is built primarily on Polygon. We wanted to use an EVM-compatible blockchain and capitalize on the benefits of the advanced tooling, community, and sta
How is the integrity of the blockchain maintained? Is there any relationship between the platform and the entity that developed the blockchain?
The integrity of the blockchain has a Proof of Stake consensus algorithm, the network relies on a set of validators, who are their operators, to secure the network. With polygon, our projects have a dedicated blockchain network that combines the best features of stand-alone blockchains (sovereignty, scalabi
Do you support wrapping of NFTs? If yes, please describe the method you support.
Wrapped NFTs are in our product roadmap for Q1 2022. We have developed traditional and non-traditional methods for enhancing the fan experience by bundling NFTs in digital packs with bonus ties through our loyalty engine to unlock e-commerce promo codes, loyalty points, and other unlockable content that may
How is a creative asset assigned to a token?
All media assets are submitted to the IFPS network and then its hash is assigned to the token property “tokenURI”, which includes all metadata from the NFT. We utilize industry-standard JSON metadata minted onto each token to ensure maximum current and future compatibility. We currently utilize
If you are using a custom blockchain, what is the contingency/recovery plan for your smart contracts/tokens in the event of catastrophic failure?
We don’t use a custom blockchain. The Rare Goods platform is built on Polygon, a secondary scaling solution for the Ethereum blockchain.
Is there a secondary market or marketplace on your platform?
Yes, the Rare Goods platform is both a primary and secondary marketplace. We focused on designing a seamless NFT experience by allowing users to buy, sell, and trade NFTs directly in our marketplace from your Universities directly, or other users on the same site. Users can then sell their acquired NFTs to
Who mints the NFT?
We batch and mint all NFTs through our custom-built platform. Each NFT is minted onto the smart contract and wallet specifically configured for each brand/organization we work with. This is both a branding and security feature allowing NFTs to be associated with the brand and wallet they are representing di
Please provide any unique or important details associated with the information stored in the smart contract.
We are using a standard ERC-721 smart contract with an OpenZeppelin extension to reference the metadata with an IPFS hash (so that the content is immutable).
Where is the digital asset stored?
It is saved on IPFS using Pinata and also on AWS S3 for redundancy and caching purposes.
How does the NFT identify or link to the underlying digital asset?
The NFT has an IPFS hash of the NFT metadata, which contains an IPFS hash for the digital asset. Our product roadmap includes adding the ability for end-users to access this directly from an NFT’s details page on the platform via a call-to-action button.
