đWelcome to NFTDelegation
An introduction to NFTDelegation, and why we need it.
Overview and purpose
Crypto makes self-sovereignty of digital goods like NFTs a reality.
When we hold our own NFTs, we become their guardian: responsible for the safe and secure storage and management of each one. We must protect ourselves from scammers, phishing sites, accidents, loss, and all the other ways our NFTs may be exposed.
We need NFTDelegation: on-chain NFT security management, permissionless and accessible by anyone, to mitigate the risks to valuables that come with self-custody, while allowing the NFT owners to remaining actively involved in web3 communities.
NFTDelegation primarily provides an easy way to register and manage:
delegation of the community benefits associated with holding an NFT
and consolidation of multiple addresses into a single crypto-centric identity.
NFTDelegation is an open-source smart contract that implements a complete vision of NFT delegation and address consolidation, developed by 6529 Open Research Labs. The smart contract functions can be accessed directly, or more conveniently through NFTDelegation.com, which enables an easy way to register and manage your delegations and consolidations.
The combination of these delegation and consolidation features support a multi-address architecture for secure and convenient NFT activities across the web3 ecosystem. We will explain this fully, here in this guide.
Please note: while NFTDelegation requires on-chain transactions to write data to the blockchain, the NFTs of connected wallets are never touched by the smart contract. NFTDelegation cannot transfer any assets. You'll see no such permission requests when signing in. The source code is reviewable as verification that NFTs simply cannot be moved by any action taken through the NFTDelegation smart contract.
What is a delegation?
Delegation allows NFT ownership advantages to be shared beyond the address holding the NFT.
Holding an NFT can grant the address that holds it certain benefits, such as allowlist access for minting, or voting rights. To show you are the owner of the NFT, you would traditionally need to connect the wallet holding the NFT to the site providing the benefit.
But connecting to many sites with a address holding a lot of value is clearly unwise. Get just one signature wrong, and your wallet could be drained.
Delegation bestows the benefits of holding an NFT (in a 'cold' wallet) on a different address (a 'hot' wallet), without transferring ownership and without the risks. You can then use this hot wallet (that's holding less value) to connect to web3 sites, without any concern of losing the original NFT.
Beyond minting or voting, this could also be used for claiming airdrops, metaverse integration, and much more.
What is consolidation?
While managing multiple addresses can provide great security, how can we identify that they all belong to the same person? Consolidation!
Consolidation is an on-chain method of signing a two-way agreement between addresses, to indicate they both assert that they belong together, to be treated as a single entity.
This allows users of delegations to indicate publicly that their addresses are unified, much like the way someone will use the same distinctive handle across social media sites to indicate they all belong to the same person.
Similarly, by utilizing consolidations, web3 communities can recognize the activity of individual members, as they take actions across multiple addresses. For example: as a new NFT is minted and eventually transferred to a vault address, it will show as changing addresses. But if those addresses are consolidated, it can be recognized as the work of a single individual.
How does NFTDelegation work?
The NFTDelegation smart contract simply holds a mapping between your addresses, with your chosen description of when that mapping should apply.
By holding data on-chain, your delegations are available to any dApp that chooses to recognize and work with delegated addresses.
You can use NFTDelegation.com to describe how your addresses are related to each other, and that information is recorded fully on-chain. Don't want to connect through our site? No problem: you can register your delegations directly on the smart contract via your favorite blockchain explorer.
Any projects that want to make use of this info can get the data from the blockchain, without any additional input or signing required.
Explore more of what's possible
Get started
We've put together some helpful guides for you to get setup with NFTDelegation quickly and easily.
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