NFT as an account (NFTAA)

[Roman-24]

Project Abstract

NFT as an Account (NFTAA) is an innovative project aimed at revolutionizing the use of NFTs within the blockchain ecosystem, particularly in the Substrate based networks like Polkadot and Kusama. The project seeks to leverage the unique properties of NFTs to function as proxy accounts, enhancing interoperability, security, and flexibility across various blockchain networks. By enabling NFTs to hold assets, stake, and interact with other blockchain components similarly to standard accounts, NFTAA introduces a novel approach to blockchain interactions.

Grant level

• Level 1: Up to $10,000, 2 approvals
• Level 2: Up to $30,000, 3 approvals
• Level 3: Unlimited, 5 approvals (for >$100k: Web3 Foundation Council approval)

Application Checklist

• The application template has been copied and aptly renamed (project_name.md).
• I have read the application guidelines.
• Payment details have been provided (Polkadot AssetHub (DOT, USDC & USDT) address in the application and bank details via email, if applicable).
• I understand that an agreed upon percentage of each milestone will be paid in vested DOT, to the Polkadot address listed in the application.
• I am aware that, in order to receive a grant, I (and the entity I represent) have to successfully complete a KYC/KYB check.
• The software delivered for this grant will be released under an open-source license specified in the application.
• The initial PR contains only one commit (squash and force-push if needed).
• The grant will only be announced once the first milestone has been accepted (see the announcement guidelines).
• I prefer the discussion of this application to take place in a private Element/Matrix channel. My username is: @_______:matrix.org (change the homeserver if you use a different one)

[github-actions]

CLA Assistant Lite bot All contributors have signed the CLA ✍️ ✅

[Roman-24]

I have read and hereby sign the Contributor License Agreement.

[Noc2]

Thanks for the application. Just one quick feedback here: The default deliverables 0a-0d of the template are mandatory for all milestones and deliverable 0e at least for the last one.

[Roman-24]

@Noc2 thank you for your feedback. Our application has been modified and default deliverables 0a-0d have been added to milestones 2 and 3. The point about the article in milestone 3 has been modified from 3a to 0e to make it consistent with the templates. We believe that our application now complies with all the necessary formalities.

[semuelle]

Thank you for the application and the long wait, @Roman-24.

This looks like an interesting idea. However, I'm a bit wary of another NFT pallet. We have supported several NFT implementations, each with their own twist, but few have actually been integrated into parachains or seen much adoption. Can you elaborate what your intention is here? From the looks of it, this is more of an "applied research" exercise than anything.

[Roman-24]

@semuelle Thank you for your feedback.

Our goal is to expand the boundaries of how web3 uses NFTs today. It's an extension of how current NFTs are used, adding a whole new set of capabilities. Another feature addresses the problem of current account illiquidity. If you want to change the owner of an account (or, for example, a locked staking), there is no secure way to do it (except by sharing private keys (unsecure thing)). In our proposal, we are primarily focusing on the use case within staking, but there are several other use cases, which we have addressed in the "Business Overview" subsection. The implementation of this idea makes sense and is supported by the fact that there is a similar proposal for Ethereum, which we have discussed in the "Differences and Distinctions (NFTAA vs. EIP-6551)" paragraph.

As mentioned in the proposal, we have already conducted research on this topic, along with some prototypes. Therefore, we now want to move towards a real implementation that will provide value to real users.
We would also like to point to the ongoing cross-chain NFT development, which in the future, combined with NFTAA, could enable sendable accounts across the entire Polkadot Paraverse.

[semuelle]

we now want to move towards a real implementation that will provide value to real users.

Thanks for the clarification, @Roman-24. My question was more geared towards understanding whether you are planning to deploy this yourself or if you have parachain teams interested in it. But either way, it looks like an interesting project to me, so I'm giving my approval and will share it with the rest of the committee.

In the meantime, could you fill out the KYB form (assuming you are applying as a company, otherwise please use this form)?

[Roman-24]

We have completed the KYB and therefore verification is in process. We are glad you like our idea and thank you for your support @semuelle. We will definitely communicate with the parachains, we believe we have a good network for that.

[PieWol]

Thanks for your interest in the Grants Program! :)
I left some comments and am looking forward to your statements and answers.

[Roman-24]

@PieWol thank you so much for your effort to review our proposal.

We've tried to answer your questions as best we can. If there is still something that is not clear we will be happy to continue the discussion.

[Roman-24]

@PieWol We have modified the milestone changes to say that we will integrate to existing applications. You can see the changes here

[Roman-24]

Would there be anything we can do to help move things forward? Please feel free to let me know if there’s anything needed from our side. Thank you

[PieWol]

Hey @Roman-24 ,
sorry for the delay here. I'll get back to your comments today and I'm sure the rest of the team will revisit your application soon. There is nothing missing on your side. Thanks.

[PieWol]

Thanks for your comments. I answered or marked the conversations as resolved. Looking forward to your answers to all unresolved comments. I appreciate the time and effort you are putting into this to explain your project and that you are incorporating our feedback 🙏

[Roman-24]

Thank you for reviewing and resolving the conversations. We appreciate your feedback and have addressed all unresolved comments. Your insights were valuable in refining the project, and we’re grateful for your collaboration.

[PieWol]

Hey @Roman-24, it's only two more comments from my side. I hope we will have all items resolved soon. I'll also ping the committee about your application again later today so that you will receive more reviews. Sorry for the delay.

[PieWol]

Hey @Roman-24 ,
thanks for resolving all questions and comments. I have one final question about your plans for this project once the grant ends. What will happen? What is your motivation to create this in the first place? Will you try to keep maintaining it? Will you publish the pallets as crates to be re-used by other teams? I'd love to hear some more about your future plans. I think after all the effort you put into this application it's worthy a few more words than what is currently listed under future plans in the application. Thanks.

[Roman-24]

@PieWol
As I also mentioned above when discussing with semuelle - our goal is to expand the boundaries of how web3 uses NFTs today. It's an extension of how current NFTs are used, adding a whole new set of capabilities. This is the first place motivation.

As we mentioned in future plans we plan to continue the maintenance and of course if something makes sense to us again we will bring further extensions. We are also aware that we will need to communicate with users and other teams after the end of the grant to ensure a better life for this project :).

Yes, we’re enthusiastic about publishing pallets as crates to enable reuse by other teams.

Is there anything you would recommend for the future of the project?

[PieWol]

Okay, thanks for clarifying. You have my approval :)

[keeganquigley]

Thanks for the changes @Roman-24 I'm willing to give it a shot.

[github-actions]

Congratulations and welcome to the Web3 Foundation Grants Program! Please refer to our Milestone Delivery repository for instructions on how to submit milestones and invoices, our FAQ for frequently asked questions and the support section on our website for more ways to find answers to your questions.

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