Horray! Another little thing taken care of
NFT Transfers.
Sure doesn't sound like much but honestly it unlocks HUGE potential within Hive. Typically people think of NFT's as a picture. Not very exciting if you ask me. However, what if an NFT was a stock certificate, or an income producing bond, or a digital concert ticket. Then things get much more exciting. But only if ownership can change hands.
I have been well aware of the power of NFT's in the earliest days of the Great Little Dragons community even when it was called "Earn, Spend, Give" but while I could mint NFT's I couldn't see them on the block chain or move them from person to person. It was so frustrating that I knew there was true power on HIVE to be unlocked but I couldn't get at it.
But ....
With a little help of AI, a webpage was built which allowed me to look on the blockchain and actually see that those NFT's existed. They aren't sitting there as stocks or concert tickets at the moment...they are just an entry on a log... but once that log can link to a database which gives them identity? Then they will have a brand new life.
A few days ago I had a website that let me view them. Today I have a website which can let me move them! NFT's that were previously locked to an individual once minted are now transferrable.
Now the use case is far simpler and my first goal?
Link real world stocks to online accounts.
has purchased different online stocks which are currently held by
. As they are related accounts I know the stocks exist and I know how they are owned by a specific account but there is no accounting on the chain that shows that fact. Also it is impossible to figure out what those stocks are without looking back at previous posts which could be a big pain.
Well, this is absolutely still a work in progress but at least now I have a tool which allows users to move their NFT's to different accounts.
In fact I just moved some NFT's a few minutes ago*
Notice how gldloan.test now has three different NFT's? ESG #7, #8, and #9?
Notice how (aka me) now has one NFT? ESG #10
Well, I have one HDIF stock held by but now I have an NFT linked to this account to show for it.
Sure the NFT doesn't have a single identifier to show what that ETF is linked to.... but I think that will be the next website/database to work on. However, it is great to know that I could send my NFT to someone else. That's not important at this moment. Still, if this project gets to the point where dividends are automatically sent to NFT holders then if there is a website built to sell them? Someone totally unrelated could buy the NFT and automatically get the dividends. If there is a buyback mechanism on a similar website?
People could buy and sell a digital representation of a real world asset. Not a fractionalized piece of a stock like TTSLA but an actual representation of that stock.
Am I going to offer that to the general HIVE population?
Highly Unlikely!
The regulatory requirements and the securities commission scrutiny would make that really unpleasant. I'll just keep it at arms length for now. However, I'm hoping to develop the framework so that anyone who actually wanted to start a HIVE virtual stock market could absolutely do so.
Still have work to do
I'm not exactly sure how I'll keep a database of what NFT links to which stock. I'll have to figure out how to make sure that NFT's don't get sent to bogus addresses because losing them would be painful. A buy and sell website could be a major pain to setup but at the very least... now that NFT's can be transferred I'm one step closer than I was before.
Horray!