Zero-Knowledge Proofs technology has found itself in the crosshairs of many Web3 enthusiasts - not without reason. Solutions such as zkSync, the upcoming Polygon zkEVM, Starkware, Taiko, Scroll, or Findora use this type of cryptography to guarantee scalability, and increased bandwidth, as well as present elements of privacy to transactions. Months ago we already pledged our efforts to enter the zkSync ecosystem and allow creators to create zkNFTs. In addition, with LayerZero's integration into the zkSync testnet in mind, our intention is to create the first zkONFTS - Zero-Knowledge Omnichain NFTs.
How does Omnisea intend to establish itself as a tool to work with private NFTs using ZK technology? What kind of chains will we support starting from V2? What opportunities do such NFTs bring to collectors?
Privacy in NFT - why?
First, be aware that as of today, any information stored on a public blockchain such as Ethereum, Avalanche, BNB Chain, etc. carries legal and practical limitations. In our view, in the future, most of the data stored on the blockchain will contain elements of privacy. Until scalable private solutions are created, we cannot expect on-chain e.g. personal data, health data, RWA (real-world assets) transactions, employee payroll, P2P messaging, programmable legal compliance, and endlessly more.
In a sense, the ZK technology can contribute not only to the much-desired scalability but also to increase the demand for Web3 solutions by creating the right conditions for them to submit transactions and store their results. Applications using non-fungible tokens are no exception, with RWA at the forefront. - e.g. tokenization of real estate, movables, rights, and their secondary trading. NFTs are mainly linked to art at the moment - as such, it does not require privacy in 99% of cases, especially since the artist most often seeks to monetize their works using Web3 protocols such as Omnisea or to share their art with the world. Nevertheless, the confidentiality of the identity (address), not so much of the creator as of the collector (Minters) seems to be an extremely interesting application even in art.
Omnisea has been created from the beginning with passion and curiosity for the latest technologies and solutions. Our creation is inextricably linked to the use of Omnichain (cross-chain) techniques, which enables the creation of chain-agnostic NFTs and their acquisition from many blockchains at the same time. In addition, starting from the upcoming V2, we will enable the creation of new and migration of existing NFTs to the so-called ONFT standard.
In order to always be open to upcoming innovations and solutions for our users, our intention is to deploy Omnisea to not only zkSync, but also Findora, Polygon zkEVM, and Scroll. Our v2 Testnet contracts will be available to create native zkNFTs on the abovementioned chains!
Omnisea plans for zkNFTs
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Creation of zkNFT collections.
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zkMint - Buy NFT with privacy without sacrificing scalability.
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Using LayerZero + zkSync to participate in Drops on chains like Ethereum with privacy - sending transactions with zkSync.
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Creating the first-ever zkONFT.
The long-term view
In our opinion, NFT technology is just in its infancy. The obvious product-market-fit non-fungible tokens found in the tokenization and monetization of art - visual and audio. Underlying technology, however, enables much more use cases. Some, like for instance RWA, can achieve a significantly higher TVL given their total addressable market. Most such sectors require strict privacy in the process of tokenization and for the created digital assets themselves - that becomes reality with the emergence of zkNFTs. Zero-Knowledge Proofs also allow to maintain confidentiality but at the same time disclose certain information to trusted, selected entities (compliance, legal).
The V2 upgrade will bring a new design to the Omnisea Dapp. Cleaner, and modern look, new use cases, new NFT types, as well as a completely new product that we’ll talk about more as we’ll get closer to the Testnet launch.