Developers utilize the network to utilize existing modules and build sovereign media studios or communities or on top of the OmniFlix Network
Developers have access to the following modules within the OmniFlix Network for setting up their sovereign chains with the required modules for:
- Collection minting (without a smart contract)
- Define custom properties for a specific collection
- NFT minting within a collection (with immutable and mutable properties)
- Transfer between accounts
- Burn an NFT
- Achieve hierarchy between NFTs
- List for a sale
- Timed Auction (coming soon)
The oNFT module is the standard for NFTs on the OmniFlix Network. This module works on the assumption that all NFTs are part of a collection where a standard schema or properties for a specific collection are to be defined.
Key components of the oNFT module are:
Denoms/collections offer standardization of properties for specific NFTs that are created/minted as part of the collection. A property called 'schema' can take input of a JSON object that defines the various properties for NFTs within that collection.
Once a collection is minted, NFTs can be minted immediately or eventually against a specific denom or within a specific collection.
Each NFT will have the properties like title, description and others among the metadata along with a set of properties that define the NFT, adhering to the same schema, inherited from the denom/collection that the NFT is being minted within.
The OmniFlix Marketplace module works with sovereign chains that utilize the oNFT standard. The OmniFlix Marketplace module, will eventually support all NFT standards from the interchain ecosystem thereby facilitating the exchange of non-fungible tokens for fungible tokens.
The Marketplace will feature various models of sales like:
1) Fixed price
Typically when an asset gets listed for in this model, a fixed price for the NFT is pre-determined by the owner for any further sale. If there are multiple editions of the same NFT, each token can be listed for a different price.
2) Time-based Auction
Owners of NFTs that list on the marketplace in a time-based model subject the NFT to a bidding process that's extends the duration of the final sale by x number of hours before the ownership can be changed from the current owner to the new owner with the highest bid. Bidding and auctions will be available on the OmniFlix Network in subsequent dev/testnets.
The marketplace module will eventually feature many different ways for users to sell and for collectors to pick up and buy. Assets can be sold independently or in bundles combined with other assets for a fixed price, auction, a flash sale or even a surprise package or a loot box.
Developers that are interested to use the marketplace module for their own chain or for their applications are welcome to check it out on GitHub -
Interested to implement OmniFlix's NFT & community infrastructure for your film3 movie, studio or your community? Want to create the next-gen media studio on the blockchain?