Idea & Token
Unlike ERC-20 tokens which are identical, there is one more standard developed for non-fungible tokens and named ERC-721. Tokens of this standard can contain unique data, such as legal documents, University degrees, IDs, info about your car, house, unique things and other real-life assets. 0xcert is the first open protocol to be used to store non-fungible tokens in cryptographic wallets with easily validated existence, authenticity, and ownership. In addition 0xcert is a blockchain-agnostic platform with a number of tools for developers, including 0xcert’s framework for third-party token development, helping them create their own DApps.
The projects’s ERC-721 non-fungible tokens called Xcerts will carry information about unique assets. There will be one more token called ZXC that is an ERC-20-based fungible utility token to be used by DApps the same way as gas for Ethereum. ZXC will also be used for rewards, bidding, providing access, etc. A total supply is 500 million ZXC tokens. The token distribution is as follows: 47% – sale, 15% – team, 12% – community pool, 10% – reserves, 6% – advisors and legal, 5% – liquidity pool, 3% – pre-ICO, 2% – bounty.
The team is from Slovenia and consists of 20 specialists, but only 5 of them are software developers including a blockchain developers. They also have several managers, specialists in marketing, PR, content, and community development. The team is led by CEO Jure Zih who was a Director of Marketing from 2013-2016 for Databox, an app that serves as a personal data assistant, as well as an analytics and growth consultant for Doctrina, a pharmacy-related tech business. They also have 8 advisors, including William Entriken, the lead author and developer of ERC-721 standard.
0xcert is creating a protocol and a platform dealing with non-fungible ERC-721 tokens which will allow developers to create brand new apps for storing and managing real life assets, such as variety of documents, pieces of art, personal IDs, certificates, etc. What is important, the tokens are standardized and certified. This will ensure interoperability among applications. The idea is great, but we have some doubts their young team is capable of implementing such a difficult project. At the same time we consider the hard cap which is low ( less than $10 million) and future perspectives of the project that will be really positive if the team manages to make a good product.
0xcert is one of the pioneers dealing with non-fungible tokens. No doubts this blockchain branch and the DApps build on top of it will be highly demanded. So keep an eye on 0xcert.