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Glossary

mQuark​

mQuark is an NFT schema protocol focusing on interoperability and upgradability, making it easier for NFTs to be used across different platforms and contexts. Allows a new unique feature which is Subscribability. That means NFT owners can subscribe to an entity in the mQuark Protocol and unlock unlimited possibilities with separate metadata.

Template​

The building blocks of mQuark are the Templates, providing a standardized structure and metadata for NFTs following the protocol.

Refers to a predefined set of metadata fields and rules that govern the creation and management of collections. Essentially, a template acts as a blueprint for collections, allowing users to easily create collections with a specific set of attributes.

A unique solution for entity owners to create and follow a standardised approach to have and use NFTs in their projects. Templates are like a foundation of collections; they allow worlds to evaluate the NFT and the interoperability. They are not NFTs but NFTs inherit its metadata.

Template ID​

This unique ID serves as the identifier for the template and is used to distinguish it from other templates in the entity.

Entity​

Entities in mQuark represent the organizations/entities/individuals who create and manage their Collections.

Collection​

Collections are groups of NFTs that share a common Template. Creators can create collections by selecting a Template and adding custom metadata. Collections can be either free or paid and, at the same time, can be minted with a whitelisted feature.

Features of a collection:

A collection can have;

  • limited total supply.
  • mint price.
  • mint limit per address.
  • Static, Dynamic or Unlimited Dynamic URI.

A collection can be;

  • free to mint.
  • whitelisted using Merkle Proof.
  • transferred from one entity to another.

Collection ID​

A unique identifier assigned to a collection, used to distinguish it from other collections created from the same template by the same entity.

Interoperability​

Interoperability for NFTs means that an NFT is being used in different worlds. For example, when having an in-game car using car NFT, the other worlds should be able to evaluate the NFT and should be able to give the owner an equivalent vehicle to the user.

Metadata​

The properties or details that define a digital asset are known as NFT metadata. All of the components contribute to your NFT’s appearance.

Subscription​

Subscription is part of the mQuark protocol, which allows users to add more metadata, like images or media files, to different URI slots on the NFT. A single NFT can have multiple URI slots, and each slot can be associated with a specific Entity. It is a simple, powerful, and unique approach to the ecosystem. After minting a mQuark token, now token owners can subscribe to any project they want by paying a subscription amount. It is all up to the projects to provide any feature for their subscribed users. Entities will be able to interact with the NFT metadata slots assigned to each one of them separately.

URI Slot​

A space on an NFT that can store metadata related to a specific entity.

Within the mQuark Protocol, we introduce the URI Slot system. An NFT can have an unlimited number of slots. These slots stores URI that points to metadata located somewhere. They belong to projects where the slots were created. Other projects can read others' metadata, but only the owner can have the right to update it with a valid signature and a request coming from the NFT owner.

Upgradable NFTs​

With the introduction of URI slots in the mQuark protocol, separate upgradable metadata for a single token is enabled. Creators can update or modify the metadata associated with their Slot without affecting ownership or value, ensuring long-term viability for investors.

Static Collection​

For a collection, there is only one metadata stored on the contract to have for their tokens

Limited Dynamic Collection​

For a collection, there are multiple metadata stored on the contract to have for their tokens, variations can be selectable to mint. For example, in a game context, there are three types of Swords to mint; a Flaming Sword, an Icy Sword, and a Holy Sword. So that people can mint one of them by selecting the variation index.

Fully Dynamic Collection​

For a collection, there are an infinite amount of variations. However, these variations are not stored on the contract, but using mQuark SDK, metadata can be created off-chain and can be signed by the verifier address of the Collection, and can be minted with that off-chain created metadata. Without a valid signature, a mint event will not be possible.

Whitelist Collections​

mQuark also allows creators a whitelist mint. It refers to the process of minting NFTs, where only the users on the whitelist are allowed to create or purchase the NFTs during a specified period. This period usually takes place before the NFTs are made available to the general public, granting the whitelisted users exclusive early access to the NFTs.

Metaverse​

In futurism and science fiction, the metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection

Token​

Tokens, generally speaking, are non-mineable digital units of value that exist as registry entries in blockchains. Tokens come in many different forms – they can be used as currencies for specific ecosystems or encode unique data. Tokens are not cryptocurrencies like Bitcoin or ether, but transferable units of value issued on top of a blockchain. NFTs can also be called tokens.(Non-fungible token)

Token ID​

Evey token is a unique token in mQuark ecosystem. They are identified by their IDs. Every token is a unique token in the mQuark ecosystem. Their IDs identify them. Token IDs are separate from Template IDs and Collection IDs.

NFT​

An NFT(Non-fungible Token) is a cryptographic token that cannot be interchanged in a like-for-like manner. These tokens are entirely distinguishable from one another and are unique and limited in quantity. NFTs can be used to represent real-world items on the blockchain, but can also be used for digital collectibles. Digital identity and the metaverse are other sectors that can utilize NFTs.

Gas​

The term gas refers to the pricing mechanism used on the Blockchain network. Such a mechanism calculates the costs (fees) for performing a transaction or executing a smart contract operation. Gas is a special unit that is used to measure how much ”work” (computational resources) certain task requires. Naturally, demanding tasks will have a higher gas cost than other operations that require less computational resources.

Smart Contract​

A smart contract is a piece of computer software that is designed as an automated self-enforcing contract, which means it triggers certain action after predetermined conditions are met

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