Friday, July 19, 2024

    Revolutionizing digital privacy: Meet the FileBunnies — The first NFTs with Encrypted FileToken

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    FileMarket — the “NFT Shopify” for downloadable digital content, which utilizes Filecoin decentralized storage — is launching FileBunnies, the first NFT collection with a privacy protocol for NFTs, known as Encrypted FileToken.

    Apparently, this is a perfect match. Filecoin is an open-source cloud storage marketplace, protocol and incentive layer. The Filecoin Virtual Machine brings on-chain programmability to the Filecoin network, while FileMarket is revolutionizing the NFT space with its next-generation marketplace, storefront builder and protocol for tokenizing, storing and trading files. By leveraging the Filecoin Virtual Machine, FileMarket offers a secure, decentralized data trading solution and introduces the groundbreaking Encrypted FileToken (EFT) standard. This new standard enables users to link encrypted files to NFTs and sell access by trading the NFTs. It also solves the enduring “right-click-and-save” problem of traditional NFT markets.

    FileMarket advocates for NFTs with intrinsic value and is designed for creators of digital content of any form. It serves as a handy tool for musicians, bloggers, digital artists, IT specialists and other various types of content makers who seek complete privacy, transparent history and a secondary market. The team believes that e-commerce will be reshaped in the near future, leveraging NFTs with hidden content. Amanda Cassatt, ex-chief marketing officer at Consensys, shared the same vision in her latest interview.

    NFTs with encrypted digital content offer far greater utility and interest than their predecessors. The EFT standard allows files to be traded securely without unauthorized access, enhancing the value of NFTs and providing a more engaging experience for collectors. Created by the FileMarket team, EFT is a groundbreaking modification of the ERC-721 standard that utilizes Filecoin Virtual Machine capabilities. These tokens enable decentralized and secure storage of encrypted files linked to NFTs, ensuring that files are transmitted safely and can only be accessed by authorized NFT holders. This innovation breathes new life into the NFT space, making them more useful and versatile than ever before.

    The FileBunnies EFT collection is the largest cross-marketing Filecoin Ecosystem campaign in history. It is a pioneering collection of 10,000 unique NFTs featuring various rarities and is dedicated to all true Filecoin ecosystem builders. Each NFT in the FileBunnies collection includes an encrypted and downloadable dataset that may contain gifts, promos, artwork or other surprises from Filecoin Virtual Machine ecosystem projects.

    FileBunnies holders are set to enjoy exclusive benefits within FileMarket’s future projects, such as an Allow List spot for all future NFT drops on the FileMarket platform. These privileges include access to future governance and incentive programs. Furthermore, users participating in the FileMarket Mainnet Alpha Test, which continues until June 26, will be allowlisted for the free FileBunnies mint. The public mint will consist of higher rarity NFTs, with much larger incentives and NFTs that will be immediately tradable upon the opening of the secondary market.

    About Filecoin Virtual Machine

    With the introduction of the Filecoin Virtual Machine, the Filecoin blockchain now supports smart contracts, opening up a new world of programmable decentralized data. This breakthrough technology allows developers to build complex applications, create new digital assets, and develop innovative solutions that harness the power of decentralized storage. The Filecoin Virtual Machine has the potential to revolutionize the way we interact with digital data, creating a truly decentralized Web3 internet.

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