breadcumb

Our Blogs

From the CEO's Desk: Continued innovation in technology in how information is carried on the Fusion DOT
Share:

From the CEO's Desk: Continued innovation in technology in how information is carried on the Fusion DOT

In a market growing and evolving as quickly as the DOT space there are plenty of areas for participants to look to differentiate – Coinllectibles has focused on increased transparency in ownership title on the underlying asset in developing the “gold standard of DOT”- the Fusion DOT.  In a business model where we want to work with many other participants, the Fusion DOT is agnostic to which blockchain we use and market place we partner with. An area we were struggling with was the quantity of information that we have on the Fusion DOT was more than could be accommodated on DOT market place platforms limiting who we could work with or requiring us to compromise on content which we wanted to avoid.   I am quite proud of our technology team under Chai Kok Young that was able to effectively solve this.

The Fusion DOT includes a lot of information and technology with a large amount addressing provenance areas.  That includes the certificate of ownership, a sale and purchase agreement, a transfer deed that transfers rights of ownership to the holder of the DOT, bailment terms addressing rights of possession and an   Independent third-party appraisal report. There is some other cool technology on it as well which goes to how the piece is viewed and enjoyed.

Typically, an DOT has only the name of the item, a description and a uniform resource identifier or URI which usually points to a digital image, 3D-model or video clip. The actual image / 3D-model / video is then stored in some webserver or more commonly on the InterPlanetary File system or IPFS (as it is immutable – content cannot be changed).  As there is only one URI link, it limits how much information can be carried on the DOT. 

In bringing the Fusion DOT to market we had set out to look at ways to store more information for our Fusion DOT, we extended the metadata store of the DOT. Instead of having only 3 fields in the metadata – Name, Description and URI, we included the metadata content to include a Certificate of Ownership field and multiple URI links to the different legal documents a 3D model, high resolution images and even an AI model of the physical item. The entire increased metadata content is then minted onto the blockchain.

This method enabled us to store all these contents describing the Fusion DOT onto the blockchain. However, it also increased the minting cost (more content) but a bigger issue for us was that not all the different DOT marketplaces could support this. Most of the DOT marketplaces only support the 3 basic fields of name, description and a single URI link.

This makes it hard to work with different DOT marketplace as we need to establish a separate minting process to include all the additional content into the DOT.

Enter Fusion DOT 2.0, where we only include 3 fields as catered for by all the common DOT marketplaces: Name, description and a single URI link to an image file.

However, we added in the image file that shows the physical asset 2 QR Codes.

If you scan the first QR Code, it points to a URL of a webpage on our webserver that documents the details of the DOT, including a detailed description, all the associated legal documentation pertaining to this item, high resolution image and also a 3D-Model of the item.

In order to record the information for posterity and also to maintain an immutable copy of all these information, we archived this webpage that stored the DOT details, onto a “Permanent Web” offered by Arweave blockchain. The second QR code points to this archived webpage on Permaweb.

In summary, the Coinllectibles Fusion DOT 2.0 can easily mint on all the common DOT marketplaces and platforms, satisfying the 3 fields: name, description and one URI link. Secondly, the detailed contents of the DOT can easily be referenced using the QR Code on the image and thirdly, we maintain an archived page of the DOT content on a Permaweb so that the content is immutable and recorded for posterity.  Great efforts to the technology team and we look forward to deploying the Fusion DOT seamlessly with market places and without any compromise to the amount of information carried. 

Upward and Onwards,

Toby O’Connor

CEO, Coinllectibles.Art

Recent Posts

What is Coinllectibles™️ and Fusion DOTs™️ - Frequently Asked Questions About The Company and What We Do
01 Jan

What is Coinllectibles™️ and Fusion DOTs™️ - Frequently Asked Questions About The Company and What We Do

Having received a lot of interest from the market, Coinllectibles™️ is delighted to list some of the commonly asked questions and provide the answers in this article.

Learn more...
Coinllectibles™️ inaugural Fusion DOTs™️ saw capital gains of more than 333% in a week with total transaction value exceeding US$2.45million
01 Jan

Coinllectibles™️ inaugural Fusion DOTs™️ saw capital gains of more than 333% in a week with total transaction value exceeding US$2.45million

Coinllectibles™️ #001 saw the largest capital gains – with the last transacted price of US$650,000, the item saw a 685% increase from the original selling price of US$94,850.

Learn more...
Fusion DOT™️ – a new way of investing in arts and collectibles?
01 Jan

Fusion DOT™️ – a new way of investing in arts and collectibles?

With the usage of blockchain technology, DOTs (non-fungible tokens) has completely changed how arts and collectibles can be bought and sold.  Through DOTs, artists now have a new...

Learn more...