Singular - The Ultimate Guide to Modular NFTs Marketplace

NFTs, or non-fungible tokens, are unique digital assets representing ownership and authenticity of various forms of content, such as art, music, games, collectibles, and more. NFTs have exploded in popularity and value in recent years, enabling creators to monetize their work, collectors to showcase their passion, and users to enjoy new experiences in the digital world.

However, not all NFTs are created equal. Most NFTs are static, isolated, and rigid, meaning that they cannot be modified, combined, or interacted with in meaningful ways. This limits the potential and possibilities of NFTs, as they become mere digital certificates rather than living and dynamic assets.

That’s where Singular comes in. Singular is the official modular NFT marketplace, where users can create, buy, sell, and trade advanced NFTs that are modular, interoperable, and composable.

What is Singular?

Source: Singular Website

Singular is the official modular NFT marketplace, where users can create, buy, sell, and trade advanced NFTs that are modular, interoperable, and composable. Singular is powered by RMRK, a set of standards and tools for creating and managing modular NFTs on Kusama, a scalable and experimental network for blockchain innovation.

What Makes Singular Different From Other NFT Marketplaces?

Singular is more than just a marketplace. It is a platform where users can discover, create, and enjoy modular NFTs in new and exciting ways.

Some of the advantages of Singular over other NFT marketplaces are:

• Singular supports modular NFTs, which can be split into parts, merged with other NFTs, or transformed based on conditions. These NFTs can also communicate and interact with each other, creating new forms of content, functionality, and value.
• Singular is powered by RMRK, a set of standards and tools for creating and managing modular NFTs on Kusama. RMRK enables Singular to support features such as nested royalties, conditional rendering, and GBM auctions, which are impossible on other NFT platforms.
• Singular is cross-chain, meaning that it can connect and trade modular NFTs across different blockchains and ecosystems, such as Ethereum, Binance Smart Chain, and Polkadot. This increases the liquidity, diversity, and accessibility of modular NFTs for users.
• Singular is user-friendly, meaning that it has a simple and intuitive interface, where users can easily create, buy, sell, and trade modular NFTs. Singular has a low barrier to entry, as users do not need to pay high fees or have technical skills to use the platform.
• Singular is community-driven, built by and for the modular NFT community. Singular listens to the feedback and suggestions of its users.

Understanding the Concept of Modular NFTs by RMRK

Source: RMRK website

Modular NFTs are a new type of modular, interoperable, and composable. Modular NFTs can be split into parts, merged with other NFTs, or transformed based on conditions. Modular NFTs can also communicate and interact with each other, creating new forms of content, functionality, and value.

What is RMRK?

RMRK is a project that aims to create the most advanced NFT system in the world by using Kusama’s native features and capabilities. RMRK, pronounced as “remarks,” uses a concept of special messages that can be embedded in Kusama transactions. Remarks can contain instructions and data that can modify the state and behavior of NFTs on Kusama.

Unique features of RMRK

RMRK leverages Kusama’s native features and capabilities, such as its scalability, security, and interoperability, to enable features that are not possible on other NFT platforms. Some of these features are:

• Nested Royalties: A feature that allows creators to set and receive royalties not only from the sale of their own NFTs but also from the sale of any NFTs that contain their NFTs as parts. This creates a fair and sustainable revenue model for creators and incentivizes collaboration and innovation in the NFT space.
• Conditional Rendering: A feature that allows NFTs to change their appearance or behavior based on certain conditions, such as time, location, or events. This creates dynamic and interactive NFTs that can adapt to different contexts and scenarios, and offer new experiences and value for users.
• GBM Auctions: A feature that allows NFTs to be sold in a novel and gamified auction mechanism, where the price of the NFT increases with each bid, but the bidder also receives a portion of the previous bid as a reward. This creates a fun and engaging auction process where bidders can profit from their participation, and sellers can maximize their revenue.

These are some of the unique features of RMRK that are not possible on other NFT platforms. That makes Singular the most advanced and innovative modular NFT marketplace in the world.

How do Modular NFTs Work?

Modular NFTs work by using RMRK’s standards and tools, which enable users to create and manage modular NFTs. For example, RMRK can be used to create a modular NFT, and it can also be used to split a modular NFT into parts or merge two or more NFTS into a new one. RMRK can change the appearance or behavior of a modular NFT on certain conditions, such as time, location, or events. It can enable communication and interaction between modular NFTs, such as sending messages, triggering actions, or exchanging data.

By using RMRK, users can create and manipulate modular NFTs o, without the need for smart contracts or centralized servers. This makes modular NFTs more efficient, scalable, and secure than traditional NFTs.

What are the Benefits of Modular NFTs for Creators, Collectors and Users?

Modular NFTs offer many benefits for creators, collectors, and users, such as:

• Modular NFTs allow creators to express their creativity and vision in new and innovative ways by creating NFTs that are not limited by static and rigid formats but can evolve and adapt to different contexts and scenarios.
• Modular NFTs allow collectors to own and display NFTs that are not only unique and rare, but also dynamic and interactive by collecting NFTs that can change and respond to various factors and stimuli, such as time, location, or events.
• Modular NFTs allow users to enjoy and experience NFTs that are not only valuable and authentic but also fun and engaging by using NFTs that can communicate and interact with each other, creating new forms of content, functionality, and value.

Modular NFTs are the next generation of NFTs that offer more possibilities and potential than ever before.

Modular NFT Standards Supported by Singular

Source: RMRK Medium

RMRK has developed a set of modular NFT standards that can be used to create and manage modular NFTs in Kusama. Some of these standards supported on Singular are:

Multi-asset NFTs (ERC 5773)

This standard allows NFTs to contain multiple assets, such as tokens, metadata, or other NFTs, within a single NFT. This enables NFTs to have more complexity and functionality and to represent collections or bundles of assets. For example, an NFT representing a movie can contain different assets for different formats, such as a PDF script, an MP4 video, or an MP3 soundtrack. The output of the NFT depends on the context and the software used to access it.

Nested NFTs (ERC 7401)

This standard allows NFTs to contain other NFTs as parts, and to inherit or override their properties and behaviors. This enables NFTs to have more modularity and composability and to create new NFTs from existing ones. For example, an NFT representing a car can contain other NFTs representing its parts, such as wheels, engines, or paint. The owner of the car NFT can modify or replace the parts NFTs, creating a customized car NFT.

Composable NFTs (ERC 6220)

This standard allows NFTs to be composed of other NFTs or tokens, and to be split or merged with other NFTs or tokens. This enables NFTs to have more flexibility and interoperability and to create new combinations and permutations of assets. For example, an NFT representing a sword can be composed of other NFTs representing its blade, hilt, or gem. The owner of the sword NFT can split or merge it with other NFTs or tokens, creating new weapons or items.

Onchain Emotes (ERC 7409)

This standard allows NFTs to express emotions or reactions through on-chain messages or actions. This enables NFTs to have more personality and interactivity and to communicate and interact with other NFTs or users. For example, an NFT representing a pet can emote with different emojis, such as smile, wink, or cry. The owner of the pet NFT can also emote with other NFTs or users, creating a social and emotional connection.

Soulbound 2.0 (ERC 6454)

This standard allows NFTs to have a permanent and immutable link to their original creator, regardless of the ownership or transfer history. This enables NFTs to have more authenticity and provenance and to reward and recognize the original creator. For example, an NFT representing an artwork can have a soulbound link to the artist, who can receive royalties or recognition from any future sales or displays of the NFT. The owner of the artwork NFT can verify the origin and history of the NFT, ensuring its value and uniqueness.

How to Create, Buy, Sell, and Trade Modular NFTs on Singular

Creating, buying, selling, and trading modular NFTs on Singular is easy and fun. Users can follow these simple steps to use Singular:

How to Create a Modular NFT

To create a modular NFT, users can use the NFT builder tool on RMRK.app, which allows users to design and customize their own modular NFTs using RMRK’s standards and tools. Users can choose a base and add parts, set properties and behaviors, and define royalties and conditions for their modular NFTs. Users can also use the remark generator tool to create remarks, which are special messages embedded in Kusama transactions to create and manage modular NFTs.

How to Buy a Modular NFT on Singular

To buy a modular NFT, users can browse and explore the wide range of modular NFTs available on Singular. Users can filter and sort the modular NFTs by various criteria, such as price, rarity, popularity, or category. Users can view and interact with the modular NFTs in 3D, zoom in and out, rotate, and change the perspective. They can also see the history and details of each modular NFT, such as the parts, the owner, the price, the royalties, the conditions, and the interactions. Users can then select the modular NFT they want to buy, and pay with their preferred cryptocurrency, such as KSM, ETH, BNB, or DOT.

How to Sell a Modular NFT on Singular

To sell a modular NFT, users can list their modular NFTs on Singular, and set their own price and terms. Users can choose to sell their modular NFTs in a GBM auction, which is a novel and gamified auction mechanism where the price of the NFT increases with each bid, but the bidder receives a portion of the previous bid as a reward. Users can split or merge their modular NFTs before selling them, creating new combinations and permutations of assets. They can also modify or replace the parts of their modular NFTs, creating customized and personalized NFTs, or emote with their modular NFTs, expressing emotions or reactions through on-chain messages or actions.

How to Trade a Modular NFT on Singular

To trade a modular NFT, users can exchange their modular NFTs with other users, either directly or through a third-party platform, such as a decentralized exchange or a swap protocol. Users can also trade their modular NFTs across different blockchains and ecosystems, such as Ethereum, Binance Smart Chain, and Polkadot, thanks to Singular’s cross-chain feature, which allows users to access and trade modular NFTs across different networks.

These are some ways users can create, buy, sell, and trade modular NFTs on Singular, the official modular NFT marketplace.

Use Cases of Modular NFTs

Modular NFTs can be used for various purposes and domains, such as gaming, art, social media, and more. Modular NFTs can enhance and enrich the user experience and value proposition of these domains by enabling new forms of creativity, interaction, and monetization. Some of the use cases of modular NFTs are:

• Gaming: Modular NFTs can be used to create and play immersive and interactive games where users can customize and control their own characters, items, and environments. Modular NFTs can create and join virtual worlds where users can explore and interact with other users and NFTs. Modular NFTs can create and participate in gamified auctions, where users can bid and win NFTs in a fun and rewarding way.
• Art: Modular NFTs can be used to create and display dynamic and interactive artworks, where users can modify and transform their own NFTs, or merge and compose them with other NFTs. Modular NFTs can be used to create and join collaborative and generative art projects, where users can contribute and co-create NFTs with other artists and users. Modular NFTs can create and support nested royalties, where users can reward and recognize the original and subsequent creators of NFTs.
• Social media: Modular NFTs can be used to create and share personalized and expressive NFTs, where users can emote and react with their own NFTs, or communicate and interact with other NFTs and users. Modular NFTs can create and join social and emotional networks where users can connect and bond with other users and NFTs based on their interests and preferences. Modular NFTs can create and participate in social and economic incentives, where users can earn and spend NFTs in various ways.

Fees Associated with Using Singular

Using Singular involves paying some fees, which are necessary to cover the costs and incentives of the platform. Some of the fees associated with using Singular are:

• Minting fee: This is the fee that users must pay to create a modular NFT on Singular. At present, there is no minting fee as an early adopter benefit, but this will change in the future.
• Service fee: This is the fee that users have to pay to buy or sell a modular NFT on Singular. The service fee is 3.5% of the sale price of the modular NFT, and it is paid in the native currency of the blockchain used.
• GBM auction fee: This is the fee that users have to pay to participate in a GBM auction, which is a novel and gamified auction mechanism where the price of the NFT increases with each bid, but the bidder also receives a portion of the previous bid as a reward. The GBM auction fee is 2% of the bid amount, and it is paid in the same currency as the bid.

$RMRK Tokenomics

Source: Singular Medium

$RMRK is the native token used on Singular, which serves as the medium of exchange, the unit of account, and the store of value for the platform and the community. $RMRK has various roles and functions, such as:

• $RMRK is used to pay for the fees associated with using Singular, such as the minting fee, the service fee, and the GBM auction fee. These fees are necessary to cover the costs and incentives of the platform and the network.
• $RMRK is used to reward the users who create, buy, sell, and trade modular NFTs on Singular, as well as the original creators of the modular NFTs. These rewards are designed to encourage the activity and growth of the platform and the community.
• $RMRK is used to access and use the exclusive features and services of Singular. These features and services are intended to enhance the user experience and value proposition of the platform and the community.

What is the Total Supply and Distribution of $RMRK?

$RMRK has a fixed total supply of 10 million tokens; of the 10,000,000 $RMRK supply, 88% of the tokens were airdropped to the community who bought Kanaria eggs. Out of the 11% remaining tokens, 5% are locked for the founding team, and the rest is loaned out to market makers for exchange liquidity.

Where can $RMRK be Traded?

$RMRK tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade RMRK is Gateio. Other popular options include Uniswap V3 (Base) and Stellaswap (V3).

Team and Key Persons of Singular

Singular is a project built by RMRK’s Bruno Škvorc, a Web3 Foundation’s technical educator at the time. Bruno is a blockchain developer and educator who has been involved in various projects and platforms in the crypto space.

Other core team members include:

• Yuri Petusko, who is the chief technical officer and the co-founder of RMRK
• Yuri G., who is the co-founder and the lead developer of RMRK
• Ilia, who is the co-founder and the lead developer of RMRK
• Paola Tuazon, who is the art director of RMRK
• Steven Pineda, who is the solidity developer of RMRK
• Mateusz Hadryś, who is the react developer of RMRK
• Magusz, who is the growth outreach manager of RMRK

How can Users Join and Support Singular?

Users can join and support Singular by following these steps:

• Users can visit the official website of Singular, where they can learn more about the platform.
• Users can follow the official social media channels of Singular, such as Twitter, Telegram, Discord, and YouTube, where they can stay updated on the news and announcements of the platform and the token, and interact with the team and the community.