What is an NFT?
An NFT, or non-fungible token, is a unique digital asset that represents ownership or proof of authenticity of a specific item, such as artwork, music, videos, or even stamps. Each NFT is unique and cannot be replicated. The ownership and transaction history of NFTs are recorded on a blockchain, providing a transparent and secure method of verifying their authenticity and ownership.
What is an NFT stamp?
An NFT stamp is a physical stamp that is connected to a digital twin that is stored in the blockchain. This linkage provides complete traceability of all previous owners of the stamp, states its current ownership, makes it easily tradeable and proves its authenticity and uniqueness to ensure that buyers are getting genuine items.
Technically, Stamps of Maybe are executed as blockchain tokens in the ERC721 standard, which is widely supported by many blockchain applications
What is an oracle?
In the context of blockchain technology, an oracle refers to a third-party entity that provides external data to a smart contract.
A smart contract is a contract that is written in code, which enables it to be self-executing with the agreement terms embedded into the lines of code. However, smart contracts are limited to processing information stored within the blockchain network, and they cannot access information outside of it. This is where oracles come in. They act as bridges between the blockchain and external world data sources.
Stamps of Maybe utilize an oracle that integrates live time weather reports from Veðurstova Føroya. Depending on the weather conditions during the activation of the stamp, the corresponding NFT and its metadata will change.
What are the rarity characteristics?
The physical stamps have an edition size of 7500 and are therefore already very limited. Total edition size is therefore 30.000.
However, the digital component of the stamps and their rarity can be influenced by the users themselves. The rarity of the four stamps is dependent on different weather conditions upon time of activation.
The Winter Water stamps rarity is determined by downpour on the Faroe Islands.
The Summer Fire stamps rarity is determined by the temperature on the Faroe Islands.
The Spring Air stamps rarity is determined by the wind strength on the Faroe Islands.
The Autumn Earth stamps rarity is determined by humidity measures on the Faroe Islands.
What is a blockchain?
A blockchain is a decentralized digital ledger of transactions that is used to record data in a secure and tamper-proof manner. A blockchain consists of a series of “blocks,” which contain a list of transactions. Each block is linked to the previous one, creating a chain of blocks that cannot be altered without changing the entire chain. This means that once a transaction is recorded on the blockchain, it cannot be deleted or altered. Furthermore, entries are distributed among many different users and computers, with each user maintaining a copy of the ledger.
These aspects make the blockchain a powerful tool for recording and verifying data in a secure, trustworthy, and transparent way. Stamps of Maybe use this technology to make their stamps tamper proof by linking the physical stamp with a digital token in the blockchain and therefore transferring the security aspects onto the physical product. To achieve this linkage between physical and digital components NFC technology and QR codes are used.
Which blockchain and why?
Stamps of Maybe use the Polygonprotocol, which was created to counteract issues with scalability and high transaction fees of other blockchain protocols. Polygon is often referred to as a “Layer-2 solution“ because it operates on a separate blockchain network that is built on top of the Ethereum main chain. The Polygon network is designed to handle a large volume of transactions while maintaining low fees, while benefiting of Ethereum’s security and decentralization. This makes Polygon compatible with various NFT platforms such as OpenSea. Polygon utilizes the Proof-of-Stake consensus mechanism, which, in contrast to Proof-of-Work blockchains such as Bitcoin, is more environmentally friendly due to its lower energy consumption and reduced electronic waste production. Because of these sustainability and efficiency benefits, Stamps of Maybe uses the Polygon network.
What is NFC?
Near Field Communication (NFC) is a wireless technology standard that enables communication between two devices that are within close proximity of each other. The NFC technology opens up new possibilities for secure and easy verification of physical assets, such as collectibles, artworks, and documents, in a world where the risk of counterfeiting is increasing. With the NFT stamp, we’ve embedded encrypted NFC microchip that lets you verify the authenticity of your NFT stamp, by sending one-time messages that alters with each scan.
To use this NFC feature, simply activate the NFC function on your smartphone and hold your Stamp of Maybe close to your device. Your smartphone will detect the NFC chip, and will show you if the stamp is genuine and how often the stamp has been scanned.
Possible payment options are credit card, PayPal and various crypto currencies such as Bitcoin and Ethereum. The complete list of accepted crypto currencies is visible at the payment process when placing an order.
Where are the stamps produced?
Variuscard is an Austrian printing company that specializes in special stamps such as Stamps of Maybe. Their subsidiary Variussystems is a software solution company that developed all digital content and blockchain integrations for this project.