Hi everyone 👋
The team at Fairmint is proposing a standard way to represent unique assets on Canton.
Most token standards are built around fungible assets, where one unit is interchangeable with another. But a lot of real-world assets and records don't work that way. A certificate, a credential, a specific contract/collateral, an entitlement, a claim, a piece of IP or a specific position in an asset.
So we’ve been working on a draft CIP for an NFT profile built on CIP-0112 Token Standard V2.
The idea is pretty straightforward: define how a unique item can live on Canton using the existing token standard, rather than introducing another transfer protocol.
As an SEC-registered transfer agent, Fairmint will use it as equity certificates on Canton. And we’re designing the profile to be useful well beyond for other regulated & institutional-grade use cases.
Indeed, the same primitive could also be useful wherever institutions need to identify, track or mobilize a specific asset, position, right or entitlement onchain.
The NFT profile defines:
- how an item is uniquely identified;
- whether it is transferable or soulbound; and
- where its content or metadata lives.
Transferable NFTs will use the existing CIP-0112 transfer & allocation flows, which means, no new transfer protocol & marketplace behavior is intentionally out of scope.
Would love feedback, especially from teams building unique-asset applications on Canton, like the Jubilee team.
The reference implementation follows the proposed spec. We’re opening the PR against canton-foundation/cips today & I’ll drop the link here 👇