RMRK (pronounced “remark”) is a collection of smart contract standards and building blocks that allows NFTs to be infinitely extended and exist as NFT2.0s. It runs on the Kusama blockchain, Polkadot's canary network, without requiring parachains or smart contracts, and aims to elevate NFTs beyond just monkey pictures.
RMRK is built by a team of developers working to create a new standard for NFTs. This standard enables more complex data structures than the simple images that have become popular in the world of crypto. The RMRK NFT 2.0 standard is the result of their efforts.
NFTs can represent more complex data structures than JPEGs, anything from music tracks to financial instruments. The possibilities are endless. The RMRK team intends to use this to create more engaging and interactive NFTs.
The RMRK team has created a marketplace called Singular to showcase the possibilities of NFTs 2.0. Piers and Bruno also discuss the challenges of marketing a new idea and how Bruno and the RMRK team hope to see the NFT 2.0 standard spread through adoption.
[01:06] The origin story of RMRK
[02:52] The journey of RMRK: from hacking NFTs on layer 1 to building robust cross-platform standards
[06:46] Game equipables and the power of NFTs owning NFTs and equipables
[10:35] Examples of combining fungible tokens with non-fungible tokens to experiment with data structures in a decentralised way
[13:01] Exploring the boundaries of NFTs: Should chat history be an NFT?
[14:06] Is the creation of identity and reputation as on-ledger objects leading to lighter front ends?
[15:52] NFTs owning NFTs and fungible tokens: how does it differ from a wallet?
[18:02] Social media and finance are converging on Web3 and DeFi, but there may also be a convergence with gaming. Will game skill sets be the next big thing in DeFi?
[24:24] Does a large number of generative arts need to be involved in making two pieces of artwork together in NFTs and making a new collection compatible with equipables?
[27:20] Younger generations have grown up with digital gaming and missions, which can be applied to the DAO economy and lead to interesting developments. What are some examples of groups understanding and using the RMRK standard?
[28:39] The value of reputation in building successful Web3 communities: lessons from Web2 communities like Reddit
[30:23] What is the new marketplace that Bruno is building besides RMRK?
[32:57] What defines success for Singular? Is it having many RMRK-standard marketplaces or becoming the main NFT2.0 trading platform?
[34:29] Overcoming the challenges of introducing a good idea to the world and the road ahead for RMRK
[36:03] The importance of narrative in NFT 2.0 adoption — RMRK's nestable NFTs and Radix compatibility
[38:00] Navigating the RMRK and Singular ecosystems: where to start?