NFT asset, token name and qty

+2 votes

Hi, could you please explain me the basic logic/steps about establishing a NFT and fragmented NFT?

I though I would need to issue a unique NFT asset that could be transfer / send, and then I could create multiple tokens to have it fragmented.

But it seems we need to

1-Issue a non-fungible asset whit 0 quantity and 1 as units.

2- Under this asset, issue a token with specific name and quantity 1 or more for fragmented.

Still, I'm confused by the purpose of the token name parameter. Why we can issue more token with different name - that can have multiple quantity, but we cant issue more token with the same name?  Also, it seems we cant transfer the NFT asset but only the token whit specific name.

Please help me in this confusion of mine.
Kind regards
asked Nov 19, 2021 by Inzider

1 Answer

+1 vote

Your understanding is correct – each issuance for a non-fungible asset is a separate named token, so if you want a fragmented (or multi-unit) token, you issue it as multiple units. And indeed, you cannot issue multiple tokens with the same name, because that would break MultiChain's non-fungible model. If you want this kind of ability, please consider using a regular asset to represent the token instead.

As for transferring the NFT asset itself, do you mean changing its permissions, so that other parties can issue tokens for it as well? If so, this can be done by the asset admin (at first, its creator) granting per-asset issue permissions to other addresses. Aside from this permissions aspect, there is no "NFT asset itself" that can be transferred because all asset units are of a specific token.

answered Nov 19, 2021 by MultiChain