NFTs in Planet Neo

NFTs owning other NFTs

As we're adopting RMRK's Singular framework for our Dino X Dino project, the RMRK team explains this tech in their guide "Getting Started" > Nested NFTs.

"NFTs that can own other NFTs, and NFTs that can equip other NFTs to change their output media. As an example, imagine an in-game character who owns a backpack which in turn owns some health potions. The character can also own and equip another NFT, a helmet."

Imagine your primary NFT as a building site. Each NFT that’s purchased by the primary NFT adds a new floor to the building. Your NFT can purchase more NFTs and become a multi-level (layered) NFT. Now imagine that each floor of the building is divided into rooms, or offices.

Each NFT – or floor of a building – is made up of multiple parts that you configure. For example, let’s say your building is now 10 floors high, each floor made up of 10 rooms.

NFTs in the Metaverse

The NFT possibilities are exciting. Imagine that you own a parcel of land in a metaverse. The land is an NFT, and this land can then own an NFT billboard that you’ve just bought. You can display this NFT billboard on your land and choose whether or not you want to fractionalise it and share ownership with members of your community.

Once this billboard is up, your community, or part owners of this billboard can decide who gets to advertise. For example, say there are two companies that want to advertise on your NFT billboard and one of the companies has questionable environmental practices, and the other may have less budget but is more aligned with your community values. Your community can then choose who gets to advertise on your NFT billboard. As part owners, they get to share in the revenue generated from the advertisement.