TimeTokens NFT Project

Conceptualized an NFT project to tokenize the most valuable asset in the world: time.

Still working on it with Apoorv and Arth. Here are some technical details:

Time Intervals

• Lowest unit of time we are selling: 1 date
• Split up block chain
• We can have N tokens for 1 date as follows:
  • Allow 1 token for 1 date to be split in the future some t times. Basically 1 token is actually 2*t unit of resolution.

Future Splits

• Think stock splits for dates
• Control at “splitting at the transaction level”. So if you split at t, you allow transactions of 0.5 * 2*t units of resolution.
• Allow “compound transactions” on our marketplace: allow users to buy or sell D days at once. Allow date transactions on OpenSea etc.

File Storage

• Infura IPFS API, easy.

Novel Technical Feature

• Allow users to choose their own picture for a token they buy and allow them to change it

Centralization Problems

• We have some tricky issues to deal with for the above feature
• How do we allow users to edit token medata without relying on a central server?
• Most NFT projects rely on some backend — that is why rug-pulling happens

OpenSea and Polygon API Problem

• We were initially planning to use Polygon’s PoS to avoid huge gas fees for transactions.
• However, OpenSea does not support Polygon endpoints for createSellOrder, etc. See https://github.com/ProjectOpenSea/opensea-js/issues/150
• Perhaps Coinbase NFT?

Auction Logic

semaphore = 20 #Auctions that dont have a bid on them yet
if (no_active_auctions_with_no_bids(wallet_id))) and (has_transaction_history(wallet_id)):
  allowCreatingAuction()
else:
  if semaphore > 0:
      semaphore -=1
      allowCreatingAuction()

  else:  
    "Please wait"

If you have any ideas, suggestions, feedback, just reach out.