Fireside Chat I Kartik Talwar and Benny Giang I Future of NFTs with EIP 6551 | Pragma Waterloo 2023

foreign [Music] so next up is our first demo for today we're going to be talking about what erc6551 is and a lot of it is around how do we extend what's possible with nfts what is actually going on with how you can extend the better things that we wanted to see for how nfts become more and more usable and overall how do we actually introduce the concept of different ways to think about ownership uh to talk about that I want to bring on Benny from Future Primitive he's going to be talking about the center as one of the authors and he'll start off with a demo and then we'll do a short q a to talk about effectively what you can do with 6551 so please join me in welcoming Benny to the stage fights okay hello everyone my name is Benny uh excited to be here flew in from Vancouver arrived at 5 30 a.m and then now we're here so uh excited to see everyone this phone number uh definitely give it a call not right now but after it's uh it should leave us a really cool voicemail we're gonna make like a song of all the all the voice messages we already have like 12 of them so uh Karthik showed this photo earlier on um if you zoom in that is me in this exact Corner uh six years ago uh we got some new version twos of the tie dice uh so we have our team members here Jaden and uh Raymond's um so yeah I was part of the team that launched crypto kitties here uh six years ago and then we formed zapper labs and then worked on cheese wizards worked on NBA Top Shot uh and then I left after Labs informed Future Primitive it's an on-chain product Studio that's a build startups projects Primitives for decentralized communities so why am I here why am I speaking to you guys so what do we do well we gave every nft its own account slash wallets uh this happened I think about a month ago everyone just woke up and the world changed so that's uh you know we call this uh talking about accounts or tbas and uh literally every single nft from cryptic kitties all the way to zookies to wrapped crypto punks to your next nft that you're gonna launch it's gonna have a token battle counts so why is this cool well it gives nfts three new properties that we think are really awesome one is asked ownership second is social identity and third is action potential so acid ownership this is very simple right now nfts are static they can't own anything they just sit inside of your eoa or your your safe multi-sig but with tokenbot accounts your nft can now own if usdc 2721 1155 any other token that will be created in the future social identity so now your nfts can now connect to dapps you can sign transactions with your nfts you can execute transactions if your nfts that's a photo there of you connecting Azure Zuki to uniswap so that means your nft can be a signer on a multi-sig your nft could vote on proposals your NFC can create its own transaction history action potential so this is an imagination of combining all three layers of the stack nfts Plus tokenbile accounts plus llms so what that ends up uh where we kind of Imagine This is that your nft can very soon perform on-chain actions all by itself uh your NFC can generate personalities based on its metadata descriptions and we have this kind of word that we call NPCs or networked playable characters that your nft can now engage in this digital world and operate on the blockchain so why does this all matter well uh we're here to make nfts more non-fungible uh uh you know for the last six years nfts leaders leaders there from Dapper like nfts came and introduced this whole new world that jpegs can be bought sold trade uh there's provenance but now we're here to actually create more layers to the nfts and make it more non-fungible number two is we want to maximize functionality while minimizing circulation so we started with the jpegs view share like and then we went to nfts where you could buy sell trade and we think the next Evolution starting now is you could become your nft you could use your nft you could interact with it the other thing the reason why we're here is that um you've got you've probably heard of a thing called the metaverse or the autonomous worlds one of the biggest problems is that they're very empty they're like ghost towns so we have this imagination that we can populate the empty worlds with these NPCs I'm gonna quickly scan over this because we have a demo that we're going to show you but uh the in-depth explainer is like as a builder you have many choices to make you either launch a standard 721 and then you add custom contracts or you customize the 721 contract or use 998 and then later on you have to deal with platform support So for us we think that you could launch them you could right now launch any 721 any 1155 automatically has a token bound account 6551 and then later down the road you could use extensions so some of the design criterias of 6551 over the last six years we've seen different variations different takes on this but none of them actually fit all five so it works of all existing nfts can hold all types of assets no wrapping involved works of existing platforms and it's fully decentralized the nft owns everything that's inside of its token bound accounts we'd ought to get into this but there's a whole decentralized registry uh it's evm compatible and it works of every nft and it's also multi-chained so uh if you have an nft on if mainnet let's say it's 0x123 that address is carried across uh and talking about accounts are deployed on polygon optimism arbitrominosis chain so that was kind of a really really quick quick blast if you want to check it out we have the docs.tokenbound.org we have a workshop that Jaden's gonna lead this Friday at 3 P.M eastern time it's in Workshop room three we also have prices so if you look at it we best use case of erc6551 if you want to build some NPCs use some open AI apis that would be super cool infrastructure on chain media interactive design visualizations for those who are more front end and design focused and we'll have you'll see later this week we have these Pokemon cards uh that we'll be handing out so if you're lucky to get one they will have a link to this website which will there will be a very very cool surprise that we have in store so most of you all already got your kitties if you haven't you will uh you will need those for this surprise cool so I'm here to do the demo now so meet Pine fresh breeder it's a cryptic kitty it's gonna be the first NPC that you're gonna see operate it's powered by tribes uh shout out to the tribes team hish and his team uh put this together so I'm gonna show you the demo cool so we are on the website we love kitties.

xyz I already kidnapped in my wallet this is pretty typical so what I'm going to do right now is switch identities because every nft has a talking about account I could assume the identity of an nft so I've just assumed the identity of Quinton which is my nft that I own and automatically I'm invited to the Gated chat with all the other kitties so it's nft to nft chat but what I'm more interested is interacting with the NPC as you probably see from the chat history I've already played around with it so we're going to give it a go here so I'm gonna talk to it I'm gonna play a game so this is using open AI API and so you give me a riddle I have to guess it spots on my fur what's that leopard oh I'm nervous okay all right what you're seeing here is the NPC is committing an on-chain action um and it's sending me an nft and so momentarily this nft is going inside of my cryptokitties tokenbot accounts so it's not going inside of my metamask it's going inside of my my quintin's account so further proof of that is if you look on tokenband.org you connect your wallet this links to Quinton and you saw that just popped in this is the nft and this is the nft that is a photo of actually the hall in 2017 when we launched cryptocurities and if you verify here um you'll see that I just got dropped this nft inside of the token about account of the kitty so what we just witnessed here is a kitty talking to a kitty and then a kitty automatically performed on all chain action so NPCs are gonna gonna be a very big thing um so I think that was pretty much it for the demo and then uh me and Karthik I think Karthik has a few questions about this so yeah thank you so much for holding the demo went smoothly so I'm very glad yeah awesome we're gonna do an amazing follow-up to that badass demo this is a first of all this is the first time you've done a live demo like this so this is great nothing went wrong and it was okay this is a groundbreaking concept none who are NPCs in general but what I want to do is uh kind of dig a bit deeper into some of the things that you brought up so the first one is well what originally inspired crypto kitties for the hackathon and what was the idea and what did it ended up being at the end of the day yeah I think at that time there was so many projects that were icos and I think I think Dieter and the and the rest of the team at Axiom Zen we were like why is it all about white papers and speculation and like why can't it be like about art and crypto punks came out earlier and we were like that's kind of cool but you can't really do anything with it like you could only buy sell trade what if we had some more on-chain actions let's just push the limits and so the kitties were you know obviously the the mascot of the internet so we merged the two were like hey let's launch a really fun project toy project here at this event that's called Eve Waterloo uh and then you know if we don't win it's fine we'll move on if we do if something happens then who knows you know maybe it'll be a big thing I think the best part of this was they were actually not even registered to be at the hackathon they just walked in yeah we were leaving the last minute exception I've ever metallic was doing like a huge like the presentation of ring signatures and we were like on the cold like the last ones and all the food was eaten already and we're like yo can we come in and then finally the Karthik and the team led us in so I'm glad it worked out for all of us uh and the entirely because it's a benefit uh well that originally sparked of course a lot of interesting things I I'm not going to ruin some of the the points I was going to make because I actually want to have a more deeper conversation with theater later in the day about them but what made you come up with 6551 as the next step like why why not extend 1155s or it already took us a long time to get people from seven years to 721 to 11 55 we're still not there yet there's a couple other standards too why introduce a new one and what's the the thinking behind this decision yeah so there's two answers here one is six five five one is not a new is it not a token standard so you don't have to pick between 721 1155 6551 you just do you use any platform manifold the third webs or mint and nft and automatically we'll have a token model count so it's a more of a ERC standard rather than a token standard the second answer is you know from our from our roots of of dapper and now Future Primitive it's always been about consumer experiences it's always been about fun and how do we kind of like find like teach people really complicated things but allow them to have like a smile on their face right so for us we kind of Dove down this for the last year and a half working with streetwear Brands uh like staple pigeon Jeff staple Billionaire Boys Club from Pharrell and Nigo and we were launching like really weird nfts and we kind of arrived at this point we're like hey we want to launch a collection that is digital fashion and it deals with characters or pfps and we want you to be able to change clothing as many times as you want on mainnet and not pay gas but still on chain and that eventually brewed up erc6551 amazing um what so there's an interesting thing where you kind of said hey like what liking is kind of the the first version of this thing you kind of buy sell and like um and 6551 was the third one tell us about what happened in the middle there and sort of what was the thinking around what the common use cases will be for The Next Step Beyond just buying and selling yeah so there are three new actions you can take become your nft use your nft interrupt over the last six years obviously there's been many different projects that have explored different like utilities and all of that um but if you think about it in order to add new utility to your nft project you need to hire a solidity developer or maybe you are one you need to do perform Audits and it starts to create a like a Walled Garden around the Blue Chip projects who made a lot of money but if you're like a solo developer or not even a non-technical uh you don't you don't know how to add more things into your your nft right so I think it's really important that to to think about 6551 is it it actually levels up the entire playing field for all nfts across the board uh and for us it's open source we think it it deserves the attention of the rest of the ethereum community and we already have a developer community of over close to 700 developers all the way from open C there's Seaport to knows the safe team to gnosis Guild uh and a bunch of people building blockchain games and all of that and so it's been growing steadily since our initial launch at Eve Denver uh so I think knowing that you can now become your nftu as a witness tier you could change identities I can now log in as my azuki to openc and commit trades uh I can you know put the bean inside of my Zuki so you you really start to create the naturality you create State for the nft which uh previously on evm chains has not existed no that's that's amazing I think one of my favorite things about um if Global events is that you kind of get a glimpse in the future a couple years before it happens and just seeing what could be possible with these autonomous in a way objects effectively uh is already mind-blowing and just you just showed one demo I'm sure thousands of people will think about thousand other possibilities and that's going to be amazing so this will walk us through more around what the NPC setup looks like what it actually lets you do what you can and can't do or how does it interface with things outside what the blockchain has the great thing with 6551 is because it uses existing infrastructure so if you know how to paste an address and send something transfer something that's all you really need to know if you know how to click connect wallet and you pick metal mask very soon you could pick an nft that you own right so there isn't a lot of barriers here as a nft Creator or an nft owner you don't have to do anything uh it's already automatically uh applied and uh so I think it's like something that's already here regardless if we like it or not but hopefully we like it and and it kind of now is a pivotal moment for us to start thinking like oh wow nfcs can go deeper now like what else can we do with it you know um we're faced with this huge problem right now that nfts kind of reached this Mark of like hyper speculation I call it the blur effect which kind of stirred this motion of like treating nfts as Commodities and sweeping and doing all these actions and I think nfts are all about art it's about relationships it's about membership into communities and what we're doing here is actually making that taking that thesis 10 times and 100 times further right where you it's really going to be hard to assess an nft that that has all these things inside especially imagine if me and kartik met and we shook hands and there was a couple op or there was like a sobao token that went inside of one of our nfts uh like it starts to add these relationships these webs that uh that are like tremendously valuable and for the hyper speculators uh they won't be able to you know the floor price won't be able to justify subjective valuation is Art um and it's meaningful to the person not somebody outside as a third party and that's a that's a really good concept because you effectively bring back the passion for why these things exist and and that is what art effectively is um how do you think this affects autonomous worlds and and maybe for people who are not aware of what they are maybe a good intro to where hano's roles are would be also helpful yeah autonomous worlds are created by a team the lattice team they had a collaboration with you guys uh using the the mud.dev um engine and you know I think autonomous worlds are the future because right now we've experienced this hyper like uh VC investments into these metaverse categories that are like basically end up being like Game servers that are runs on AWS and we had you know the last team we think it's like we're like a yin and yang together because they're constructing the the engine that you could create all these digital worlds that are uh you know decentralized and not owned by a singular uh individual and we see our job as populating those the Titleist worlds uh whether that is humans as us uh or NPCs that we program right we're getting to a POI you know dunbar's number which is a uh a number that's basically says every human could but only have about 150 meaningful relationships in your entire life we start to think about like how many objects can you own in your life physical and digital where you could have meaningful relationships right with right and if nfts are to explode you know we're going to have millions of nfts there's no way we could have millions of relationships of all those digital objects right so our imagination is that maybe as a human you have three to five digital objects or ten that you really care about and the rest are kind of right now sitting at a ledger doing nothing but I think with the Advent of AI and llms you could actually set them loose into these autonomous worlds to perform on-chained actions on your behalf uh and we think that's going to be a really really interesting future I think the word I would use is crazy that's it's insane in a good way in a good way um maybe one last thing will be that you kind of talked about NPCs as an example what else is also possible with the standard or things you would like to see in the wild maybe let's start with that list yeah I think it's going to change on chain media I think it's going to create new visualizations of relationships I think as people form dowels right now the biggest problem with dolls is like loyalty and reputation how do you keep track of these things everything right now if you think about it sits on a single Dimension right you have a metamask and you have your soul bound tokens your poapps your zookies and stuff and like they're all just one layer or if you have a lens profile you have everything on one layer it gets really really messy there is no relationship connecting any of those things uh and let alone like we've gotten used to the idea of snapshotting and and doing all these weird things of looking for the whole the the human that owns the nft or the eoa right now we're really like simplifying that every nft as a wallet could send things you could operate as it um and I think the the action potential element is underexplored and that's kind of why we're here at this hackathon is like who wants to kind of combine AI with tokenbot accounts and nfts and set them loose you already saw one in action here so uh that's what you know I think it's gonna push the space forward awesome well I'm looking forward to seeing what people hack on on the standard this weekend and uh with that thank you so much thank you thank you so