Sep 27, 2022
Curios now supports smart contracts configured for NTTs (Non Transferrable Tokens)
Curios is proud to announce that the creation of NTTs are now possible using our automatic smart contract creation tools and can be minted or airdropped on demand. Additionally NTT smart contracts can be deployed on any of our supported blockchains and can be deployed from our backend tool or via our API.
We are happy to continue to break down barriers to entry in this space and see NTTs as a valuable piece of technology for the future of web3.
What is a NTT?
NTT stands for Non Transferable Token and was first introduced by Vitalik in May of 2022 in a paper titled “Decentralized Society: Finding Web3’s Soul”. These tokens use almost all the same code as NFTs (Non Fungible Tokens) with the exception that the transfer function is either impossible or limited to a certain number of transfers.
NFTs have shown how well suited the blockchain is for tracking certificates of ownership of items, and NTTs open the ability for these blockchain technologies to be used to track a wider variety of “ownership”.
What are some use cases for NTTs?
Vitalk’s suggested use case for this technology was surrounding government issued IDs, in that the blockchain is a more secure and efficient vehicle for tracking this information than governmental developed infrastructure. However their use cases apply much further than just identification. Certificates and awards are two great additional use cases for NTTs. Educational degrees, professional certifications, are use cases where knowing someone’s credentials are important, but those credentials are never transferred to another individual or resold.
Other great uses cases includes
- Birth certificates, government issued IDs
- Transcripts, Degrees, Professional Certifications
- Login information
- Medical records
- Subscriptions for SAAS and content platforms