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06-08-2024

Introducing support for NFTs on the DOP mainnet

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Data Ownership Protocol now supports non–fungible tokens — marking a significant expansion of our mainnet as we bring selective transparency to the masses.

 

Up to this point, our ecosystem has allowed users to encrypt ERC-20 tokens like USDT and USDC, meaning balances and transactions remain confidential and hidden from blockchain explorers.

 

Such tokens are fungible, meaning they’re interchangeable and can be divided into smaller units.

 

This latest upgrade marks the beginning of support for NFTs — including digital art that’s won admirers globally.

 

Blue-chip collections such as Bored Ape Yacht Club are rare and highly desirable, with some changing for millions of dollars in the past. But their fame and immense value comes with security risks, with opportunistic thieves often targeting the wallets that hold them.

 

Through DOP, such NFTs can now be encrypted and held securely, all while ensuring transactions between buyers and sellers are private. Over time, DOP will add and unveil new features that give collectors greater control over what information about their NFTs is in the public domain.

Your NFTs, your rules

In the future, DOP users will have the freedom to decide which attributes about their digital art collection show up on blockchain explorers.

 

For example, they could confirm that they are the proud owner of a Bored Ape, without disclosing the specific ID.

 

And if they own multiple NFTs from the same collection, DOP’s user-friendly interface will allow them to make general statements about their holdings, such as indicating they possess “one or more” Bored Apes, without revealing the exact number.

 

Given how collectors are often bombarded with phishing attacks and fraudulent marketplaces — with wallets drained in the blink of an eye — selective transparency is about much more than telling others to mind their own business, it’s about protecting investments.

 

Think about it: if you owned a rare Claude Monet painting worth millions of dollars, you’d have plenty of security safeguards in place to reduce the risk of it being stolen or damaged. NFTs shouldn’t be any different, but the all or nothing approach that blockchains take toward transparency means this isn’t possible. That’s why DOP exists.

 

Non-fungible tokens have taken the world by storm, with celebrities and even politicians getting involved in the action. Our protocol’s goal is to allow everyone to engage with NFTs safely and bring back the enjoyment in collecting. Over time, these selective transparency features have the potential to encourage adoption while making it extremely difficult for cybercriminals to target unsuspecting collectors.

 

DOP is also working on several native integrations with major platforms. We’ve already announced our collaboration with Bitcoin.com, which is currently being implemented and is set to be released later this year. We’re committed to ensuring our technology enhances the third-party wallets and websites that millions of people use every day, reducing friction by providing a familiar and user-friendly experience

 

The integration of NFTs into the DOP mainnet represents a significant milestone in our mission to promote data ownership and selective transparency and bring its benefits to a wider audience. As we continue to expand our capabilities and collaborate with leading players in the blockchain and NFT space, we remain dedicated to our core mission of empowering users to take control of their digital assets and personal data.

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