Overall Vision

The premise of using decentralized identity for NFT verification is to put user data into their own hands and to simplify how it can be used regardless of blockchain their NFT is minted on.

Our goal is to have a service that will be able to create a VerifiedNFT Credential Card for Crypto Wallets and NFT from most of the commonly used blockchains, such as Ethereum, Polygon, Solana and other.

Our second goal is to provide a service that can be used by interested parties to verify issued VerifiedNFT Credential Cards for their own use cases.

We will take small steps over time to achieve these goals.

Use of NFTs in VerifiedNFT service

For demonstration purposes VerifiedNFT service will allow issuance of the VerifiedNFT Credential Card without use of token gating. It means that any user can open their supported wallet and create a VerifiedNFT Credential Card for this wallet. This card will be limited in its capabilities, mainly issued for a short validity period and have no other validation claims.

Looking longer term, VerifiedNFT service will be using token gating to provide different levels of access to issue VerifiedNFT Credential Card.

On rotating basis we’ll also allow holders of NFTs from certain contracts to get a VerifiedNFT Credential Card.

For standard issuance, Web5MetaKey NFTs will provide different levels of access to issue the VerifiedNFT Credential Cards. You can mint new keys on or get existing keys on the secondary marketplaces.

Our vision is to provide the following capabilities via Web5MetaKeys (subject to change at any time):

  • To create VerifiedNFT Credential Card with extra features, you will need to have one of the Web5MetaKeys. The following types of Web5MetaKeys are envisioned:
    • Web5MetaKey Genesis Edition. This key will be issued for initial adoption of this service by the users of our service.
      • Quantity 10,000
      • Mint price free (gas and other fees is responsibility of the minter)
      • Creator resale fee 10-20%
    • Web5MetaKey “Other” Editions. As the Web5MetaKey Genesis Edition fully mints out, we’ll add additional editions, so users have a choice to mint a free key (gas and other fees is responsibility of the minter). Our goal is to provide a token that can be used by end users and stays in end users’ crypto wallets.
    • Web5MetaKey Genesis for Affiliates. This key will allow creation of the VerifedNFT Credential Card which can be used to create verification campaigns on the VerifedNFT service.
      • Quantity XX
      • Mint price is TBD
      • Creator fee TBD
      • These tokens will be active in the application for a limited amount of time. While token minter can theoretically resell it, the actual utility of the token will expire after predefined period.
    • Web5MetaKey Platinum for Affiliates. This key will have the same purpose as Genesis key for Affiliates but with less capabilities.
      • Quantity YYY
      • Mint price is TBD
      • Creator fee TBD

Above keys will be issued on the Ethereum blockchain.

For NFTs on other blockchains we’ll explore technical options to provide the same capability as for Ethereum based Wallets and NFTs.