Asset NFTs

An asset NFT is one where the NFT acts as a certificate for an underlying asset. The NFT certifies the existence and state of the asset in ways that provide security to a buyer.

The NFT is attached to a smart contract that contains functionality to allow the trade of the NFT between parties and to record in the real world the change in ownership on the blockchain. In this way ownership of the real world asset is secure, clear and enforceable.

Asset NFTs are created by Plano to facilitate “in real life” real estate transactions, such as buying and selling. Each asset is used in on-chain transactions to represent the will of each counterparty and state of the transaction.

The metadata for each NFT contains reference(s) to legal documents that are held in a decentralized file store (e.g. IPFS) that detail ownership of the asset. Using the NFT, an owner can view these documents to confirm their ownership. The owner may also grant view access to these documents so that an approval party may review the documents.

All asset NFTs are minted as ERC-721 tokens. At the current time, a Deed NFT is the only asset to be tokenized.