New Data NFTs and datatokens

On-ramp and off-ramp for data assets into DeFi

Ocean makes it easy to publish data services (deploy ERC721 data NFTs and ERC20 datatokens), and to consume data services (spend datatokens). Crypto wallets, exchanges, and DAOs become data wallets, exchanges, and DAOs.

Data NFTs and datatokens are the interface to connect data assets with blockchain and DeFi tools. Crypto wallets become data wallets, crypto exchanges become data marketplaces, DAOs for data co-ops, and more via DeFi composability. It’s “data legos”.

The data itself does not need to be on-chain, just the access control.

Ocean-based apps make data asset on-ramps and off-ramps easy for end users. Ocean smart contracts and libraries make this easy for developers.

  • Out-of-the-box data wallets, exchanges, more.

    Based on ERC721 standard, data NFTs represent the ownership of the unique asset, whereas datatokens repurpose ERC20 crypto wallets as data wallets, crypto exchanges as data marketplaces, and more.

  • Drive more value to DeFi.

    Datatokens bridge the multibillion data industry into DeFi assets under management, and help valuable data get used to optimize DeFi yields and capital efficiency.

  • Simple decentralized access control.

    The benefits of decentralized access control combined with a simple developer experience, user experience, and code.

How It Works

Data NFTs are ERC721 tokens representing the unique asset and datatokens are ERC20 tokens to access data services. Each data service gets its own data NFT and one or more type of datatokens.

You can access the dataset if you hold 1.0 datatokens.

To access the dataset, you send 1.0 datatokens to the data provider (running Ocean Provider). To give access to someone else, send them 1.0 datatokens. That's it.

Since datatokens are ERC20, and live on Ethereum mainnet, there's a whole ecosystem to leverage.

Data NFTs and datatokens Resources

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