The Role of Digital Assets
Role of NFTs within Liquid Earth Project
Digital Assets are at the heart of the Liquid Earth platform, serving as the digital representation of real-world assets like real estate, collectibles, and luxury items. They enable these assets to be traded instantly and seamlessly on the blockchain.
Types of ERC Standards Used
ERC-721: Used for unique, non-divisible assets like real estate properties or unique collectibles.
Digital Assets Management within the Project
Contracts for Digital Asset Management
FantomArtion
: Handles the minting and burning of Digital Assets.FantomMarketplace
: Enables the trading of Digital Assets.FantomAuction
: Manages the auctioning of Digital Assets.FantomBundleMarketplace
: Allows for bundling multiple Digital Assets together for sale.
Digital Asset Storage
Digital Assets are generally held by user addresses. However, during auctions or while listed in the marketplace, they may be temporarily held by the corresponding smart contracts for escrow purposes.
Listing and Bidding Process
Listing Requirements
KYC verification is often required (
isVerified
modifier).In some cases, a listing fee in approved ERC20 tokens may be collected (
collectPlatformFee
inFantomArtion
).
Bidding Requirements
For auctions, the
FantomAuction
contract requires that the bidder submits a bid higher than the current highest bid (placeBid
function).KYC verification may also be needed (
isVerified
modifier).
Payment System
Payments are mostly done in approved ERC20 tokens (
collectPlatformFee
inFantomArtion
).
Difference between Bundle and Non-Bundle
Non-Bundle: These are individual Digital Assets representing a single asset, managed mainly by the
FantomArtion
,FantomMarketplace
, andFantomAuction
contracts.Bundle: These are collections of multiple Digital Assets grouped together into a single package. The
FantomBundleMarketplace
contract manages these. Bundles are useful for selling sets of related assets, like a collection of artworks or multiple properties in a real estate portfolio.
The Digital Assets, be it bundle or non-bundle, act as the cornerstone of the LiquidEarth platform, allowing for various forms of asset tokenization, listing, trading, and management. Understanding their flow and interaction with various contracts is crucial for auditing and ensuring that the code aligns well with the project's objectives.
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