Skip to content

  Spin up a managed Avalanche node cluster in minutes! Learn More.

The Sync Blog

Updates and insights from the Bloq team

« Blog Home

De-Risking Digital Asset Transfer… w/ NFTs

Early Sync readers remember CapsuleNFT, a protocol that allows users to package NFTs and other digital assets into a single NFT. (It was the one that proved too hot for OpenSea, if you recall.) 

Back in 2022, the CapsuleNFT team caught waves of attention at NFT.NYC by combining a real-world vending machine with physical capsules to drive home the point of wrapped NFTs and composability. Since then, CapsuleNFT rolled out a fully built API and a more accessible user interface. 

CapsuleNFT has since advanced beyond “NFT Tupperware for crypto.” In fact, it is adapting the Capsule protocol to de-risk digital asset transfers in addition to packaging them. This means adding features like routing, transaction reversal, time-locks, and password-protection… all on-chain.

This week at NFT.NYC, CapsuleNFT is highlighting the earliest Smart Transfer capabilities, starting with Capsule Programmable Pickup (CPP) — a unique on-chain redemption portal demonstrating password pickup for time-locked “Smart Assets,” redeemable at a predetermined date.

Introducing CapsuleNFT Smart Assets

Starting with CPP, CapsuleNFT Smart Assets will deliver the above capabilities on top of any assets they contain. As of today, anyone can generate a Smart Asset using the existing Capsule API; the upcoming improved protocol will streamline the process while integrating Capsule Conditional Transfer, which is currently in closed beta but will be made publicly available in the near term.

Using CapsuleNFT, users can guarantee that the redemption of assets only happens after certain conditions (e.g., payment) have been made — something that usually happens off-chain or via a much more complex mechanism. In the business context, important documents can be made visible upon condition of signing a Terms of Service or another prerequisite for redemption. Soon, anyone will be able to contribute specific conditions to the protocol, set their own fees, and offer perks like gasless transactions. 

Just the Beginning

The Capsule activation at NFT.NYC will kickstart the countdown until the full protocol becomes available for public use. 

At the CapsuleNFT Booth attendees will earn a chance to nab from more than a dozen assets like the team’s own Dollar Store Kids (the first USDC-backed composable NFT collection on-chain) and Ordinary Oranges (the sub 100K Satoshi inscriptions viewable on OpenSea and which allow for portability to Ethereum – one of the first projects of its kind). For good measure, ZenAcademy, and Bloq metaverse-gaming spinoff Atmos are also included (among others).

Join the Bloq newsletter for the latest updates

This field is for validation purposes and should be left unchanged.