75 lines
3.5 KiB
Markdown
75 lines
3.5 KiB
Markdown
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---
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eip: 3754
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title: A Vanilla Non-Fungible Token Standard
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description: NFTs for representing abstract ownership
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author: Simon Tian (@simontianx)
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discussions-to: https://github.com/ethereum/EIPs/issues/3753
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status: Stagnant
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type: Standards Track
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category: ERC
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created: 2021-08-21
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---
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## Abstract
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In this standard, a non-fungible token stands as atomic existence and encourages
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layers of abstraction built on top of it. Ideal for representing concepts like
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rights, a form of abstract ownership. Such right can take the form of NFT options,
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oracle membership, virtual coupons, etc., and can then be made liquid because of
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this tokenization.
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## Motivation
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Non-fungible tokens are popularized by the [ERC-721](./eip-721.md) NFT standard
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for representing "ownership over digital or physical assets". Over the course of
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development, reputable NFT projects are about crypto-assets, digital collectibles,
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etc. The proposed standard aims to single out a special type of NFTs that are
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ideal for representing abstract ownership such as rights. Examples include the
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right of making a function call to a smart contract, an NFT option that gives
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the owner the right, but not obligation, to purchase an ERC-721 NFT, and the prepaid
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membership (time-dependent right) of accessing to data feeds provided by oracles
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without having to pay the required token fees. An on-chain subscription business
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model can then be made available by this standard. The conceptual clarity of an
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NFT is hence improved by this standard.
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## Specification
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```
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interface IERC3754 {
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event Transfer(address indexed from, address indexed to, uint256 indexed tokenId);
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event Approval(address indexed owner, address indexed approved, uint256 indexed tokenId);
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event ApprovalForAll(address indexed owner, address indexed operator, bool approved);
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function balanceOf(address owner) external view returns (uint256);
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function ownerOf(uint256 tokenId) external view returns (address);
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function approve(address to, uint256 tokenId) external;
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function getApproved(uint256 tokenId) external view returns (address);
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function setApprovalForAll(address operator, bool approved) external;
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function isApprovedForAll(address owner, address operator) external view returns (bool);
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function transferFrom(address from, address to, uint256 tokenId) external;
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function safeTransferFrom(address from, address to, uint256 tokenId) external;
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function safeTransferFrom(address from, address to, uint256 tokenId, bytes memory _data) external;
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}
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```
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## Rationale
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The NFTs defined in the [ERC-721](./eip-721.md) standard are already largely
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accepted and known as representing ownership of digital assets, and the NFTs by
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this standard aim to be accepted and known as representing abstract ownership.
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This is achieved by allowing and encouraging layers of abstract utilities built
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on top of them. Ownership of such NFTs is equivalent with having the rights to
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perform functions assigned to such tokens. Transfer of such rights is also made
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easier because of this tokenization. To further distinguish this standard
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from [ERC-721](./eip-721.md), data fields and functions related to `URI` are
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excluded.
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## Backwards Compatibility
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There is no further backwards compatibility required.
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## Reference Implementation
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https://github.com/simontianx/ERC3754
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## Security Considerations
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The security is enhanced from ERC721, given tokens are minted without having to
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provide `URI`s. Errors in dealing with `URI`s can be avoided.
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## Copyright
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Copyright and related rights waived via [CC0](../LICENSE.md).
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