Non-Fungible Tokens are digital proof of ownership connected to some content or asset. Each is unique and cannot be replaced by another or forged. Each NFT contains identifying information recorded within one or multiple smart contract/s. As NFTs are minted on blockchains, all information about them is publicly available and reliable. Popular objects for NFT tokenization include art objects (digital and real), items from virtual and game universes (characters, clothing, artifacts, weapons, equipment), collectibles, copyright, licensing, and certification.
For Script Network, NFTs will be used to create a piece of content that can be purchased, traded, and stored for value and will all be directly connected to the films and shows on Script.TV. Users will have an opportunity to claim and earn time-based rewards, stake valuable NFTs, earn off-chain rewards and gain access to events, screenings, and cinema tickets through the accumulation of SPAY tokens and Script NFTs.
For the development of most non-interchangeable tokens, several ERC standards are used on Ethereum. Script.TV will use Solidity smart contracts that allow users to mint Ethereum-based NFTs for heavily reduced fees via SPAY tokens. Later down the line, Script.TV will launch NFTs with cross-chain accessibility. A mechanism allowing content partners to create, trade, and use their own NFTs will be implemented into the Script.TV platform.
Content partners or advertisers may issue NFT-based virtual collectibles as gifts or prizes to content viewers. For example, they could be cards based on characters or actors from a particular show, digital copies of items or movie clips, or other possibilities. Rare or unique NFTs can become collectible items that can be kept or exchanged. These features further stimulate the platform's development and will provide a new, more deeply connected viewing experience for users, and a closer way to engage with fans for content producers.