RQDQ Releases the First Demo Implementation of ERC721QTLDR - check out our demo at RQDQ.org/iloveyou and be one of the first people to ever borrow an NFT ❤️
We don't get to choose our interests. Our interests choose us.
We can change plans. We can change jobs. We can change locations. We could change our friends, our families even if we absolutely had to. Deep down we have what it takes to change even our most fundamental beliefs, our gods, our religions.
But the one thing we have zero hope of ever changing is our passion. Those nagging interests, those private obsessions that we can't help pursuing, no matter what our surrounding circumstances might be
Sometimes, this can be problematic – to put it mildly.
The great promise of the internet however is to make it far easier to find the circumstances and environments where our interests, far from being a handicap, are our greatest superpower
To make it easier to find and surround ourselves with the people who will see our weird passions as an awesome feature, not a bug.
If Web 2.0 was all about connecting everything and everyone, about software eating the world, we see Web3 as being all about cutting through the noise to find the signals that can help us find what we've always been looking for
The signals that can point us to where we want to go.
ERC721Q - An Incremental Innovation
Incremental innovations don't sound as sexy as radical innovations.
But incremental innovations which get widely adopted can make a much bigger impact than radical innovations which fail to propagate.
In January 2018, William Eintriken, Dieter Shirley, Jacob Evans and Natassia Sachs published the EIP for the ERC721 standard.
It was an incremental innovation, describing a standard for tokens that behaved very much like ERC20 tokens with one big difference. Instead of tokens being fungible and divisible, ERC721 tokens were unique and indivisible.
In their EIP the authors described these new tokens as "deeds". They also described them as non-fungible tokens – NFTs. The latter term is the one which was destined to stick.
Back in 2018 this new standard for NFTs all but crashed the Ethereum network as proto-apes scrambled to get their hands on Dapper Lab's cute and iconic Cryptokitties.
Since then, well, let's just say since then things have kinda escalated.
Earlier this year the team at Kanon, an anon collective of engineers, museum curators, visual design, marketing and product apes, began work on an extension to the ERC721 standard which they call ERC721Q
Sometimes they even manage to pronounce that 😂
Like ERC721 back in 2018, ERC721Q today is an incremental innovation.
As Kanon contributor Fastackl described in his blog post in February 2022, the main difference between ERC721 and ERC721Q is that the latter decouples the ownership of an NFT from the wallet in which it resides.
In practice, this means anyone can move an NFT to any wallet at any time, without the owner losing control of it
This small, incremental extension to the ERC721 standard could have profound implications for Web3.
We think this extension will transition NFTs from being tokens that function only as smart asset "deeds", into tokens that function as the internet's most powerful signal detectors
RQDQ - Find the Signal You've Been Looking For
A few weeks ago we set up RQDQ.org, a project incubated with the help of the anon apes at Kanon, to explore what we might be able to do with this new ERC721Q extension.
Don't worry, we won't chew your ear off telling you how we want to change the world or hit you over the head with a 5,000 word thought piece on why what we're working on could open up cosmic-scale possibilities.
Instead, over the coming weeks we'll try to show you.
I Love You - The Demo
Be sure to check it out.
When you open up the Demo, you'll see an NFT called "I Love You", exquisitely crafted by the legendary remix master Eclectic Method.
This NFT is owned by the sometimes irascible, but always well-meaning Fastackl.
When you click on "Borrow", a transaction will be created that moves the NFT from whichever wallet it is in, into your wallet. For free. And for a while.
I you don't already think that's kinda weird then slow down and take a closer look
And keep your eye on this NFT. You never know how it might surprise you :)
Let's Mess Around with This Thing
For now, you can only borrow the "I Love You" NFT from wallets that hold at least one of the following NFTs:
- Daemonica Entities 😈 🌚
- Daemonica Xe_ntities 😈
- DecentralEyesMashup by Coldie 👀
- Doodles 🖍️
- Merge by Pak ⚫ ⚪
- Milady Maker 🎎
- Terraforms by Mathcastles 🏰
- XCopy Grifters 😏
While you're holding the "I Love You" NFT, and only for the brief moment while you're holding the NFT, you can join the brand-spanking-new RQDQ discord and get an "I Love You" badge.
We can't wait to see who'll turn up to our new discord.
Once you're there, tell us which collections you'd like to see added to the list. And tell us what you'd like to see this thing do next.
We're already working on what comes next, but we'd love to hear your awesome ideas too!
Much love 🙌 ❤️
The RQDQ team
P.S. the Demo's source code is still closed source. Part of the reason is we're not done polishing it yet. Also because while we're sure the code is solid, we want to minimise the attack surface for Fast's NFT until the code goes through a proper audit. We don't want Fast turning dark on us if someone manages to rug his NFT 😂