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Minor Cleanup. Data NFT and Datatoken caps when is necessary
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Ana Loznianu
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---
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title: Architecture Overview
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description: Data NFTs and Datatokens architecture
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description: Data NFTs and datatokens architecture
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---
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## Overview
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@ -20,10 +20,10 @@ Here’s an overview of the figure.
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## Data NFTs, Datatokens and Access Control Tools
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Data NFTs are based on [ERC721](https://eips.ethereum.org/EIPS/eip-721) standard. The publisher can use Marketplace or client libraries to deploy a new Data NFT contract. To save gas fees, it uses [ERC1167](https://eips.ethereum.org/EIPS/eip-1167) proxy approach on the **ERC721 template**. Publisher can then assign manager role to other Ethereum addresses who can deploy new datatoken contracts and even mint them. Each Datatoken contract is associated with one Data NFT contract.
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Click [here](/concepts/datanft-and-datatoken/) to further read about Data NFTs and datatokens.
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Data NFTs are based on [ERC721](https://eips.ethereum.org/EIPS/eip-721) standard. The publisher can use Marketplace or client libraries to deploy a new data NFT contract. To save gas fees, it uses [ERC1167](https://eips.ethereum.org/EIPS/eip-1167) proxy approach on the **ERC721 template**. Publisher can then assign manager role to other Ethereum addresses who can deploy new datatoken contracts and even mint them. Each datatoken contract is associated with one data NFT contract.
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Click [here](/concepts/datanft-and-datatoken/) to further read about data NFTs and datatokens.
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ERC721 Data NFTs represent holding copyright/base IP of a data asset, and ERC20 datatokens represent licenses to consume the data asset.
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ERC721 data NFTs represent holding copyright/base IP of a data asset, and ERC20 datatokens represent licenses to consume the data asset.
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Datatoken represents the asset that the publisher wants to monetize. The asset can be a dataset or an algorithm. The publisher actor holds the asset in Google Drive, Dropbox, AWS S3, on their phone, on their home server, etc. The publisher can optionally use IPFS for a content-addressable URL. Or instead of a file, the publisher may run a compute-to-data service.
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---
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title: Data NFTs and Datatokens
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description: In Ocean Protocol, ERC721 Data NFTs represent holding copyright/base IP of a data asset, and ERC20 datatokens represent licenses to consume the assets.
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description: In Ocean Protocol, ERC721 data NFTs represent holding copyright/base IP of a data asset, and ERC20 datatokens represent licenses to consume the assets.
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---
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A non-fungible token stored on the blockchain represents a unique asset. NFTs can represent images, videos, digital art, or any piece of information. NFTs can be traded, and allow transfer of copyright/base IP. [EIP-721](https://eips.ethereum.org/EIPS/eip-721) defines an interface for handling NFTs on EVM-compatible blockchains. The creator of the NFT can deploy a new contract on Ethereum or any Blockchain supporting NFT related interface and also, transfer the ownership of copyright/base IP through transfer transactions.
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Fungible tokens represent fungible assets. If you have 5 ETH and Alice has 5 ETH, you and Alice could swap your ETH and your final holdings remain the same. They're apples-to-apples. Licenses (contracts) to consume a copyrighted asset are naturally fungible - they can be swapped with each other.
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## High-Level Architecture
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The image above describes how ERC721 Data NFTs, ERC20 datatokens, and AMMs relate.
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The image above describes how ERC721 data NFTs, ERC20 datatokens, and AMMs relate.
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- Bottom: The publisher deploys an ERC721 Data NFT contract representing the base IP for the data asset. They are now the manager of the Data NFT.
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- Middle: The manager then deploys an ERC20 datatoken contract against the Data NFT. The ERC20 represents a license with specific terms like "can consume for the next 3 days". They could even publish further ERC20 datatoken contracts, to represent different license terms or for compute-to-data.
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- Bottom: The publisher deploys an ERC721 data NFT contract representing the base IP for the data asset. They are now the manager of the data NFT.
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- Middle: The manager then deploys an ERC20 datatoken contract against the data NFT. The ERC20 represents a license with specific terms like "can consume for the next 3 days". They could even publish further ERC20 datatoken contracts, to represent different license terms or for compute-to-data.
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- Top: The manager then deploys a pool of the datatoken and OCEAN (or H2O), adds initial liquidity, and receives ERC20 pool tokens in return. Others may also add liquidity to receive pool tokens, i.e. become liquidity providers (LPs).
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## Terminology
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@ -11,7 +11,7 @@ Ocean Protocol provides tools for developers to _build data markets_, and to _ma
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**Build Data Markets.** Use Ocean Protocol software tools to build your own data marketplace, by either forking [Ocean Market](https://market.oceanprotocol.com/) code or building up with Ocean components.
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**Manage Datatokens and Data NFTs for use in DeFi.** Use Ocean [JavaScript](https://github.com/oceanprotocol/ocean.js) or [Python](https://github.com/oceanprotocol/ocean.py) drivers to manage data NFTs and datatokens:
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**Manage datatokens and data NFTs for use in DeFi.** Use Ocean [JavaScript](https://github.com/oceanprotocol/ocean.js) or [Python](https://github.com/oceanprotocol/ocean.py) drivers to manage data NFTs and datatokens:
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- _Publish and consume data services:_ downloadable files or compute-to-data. Use Ocean to deploy a new [ERC721](https://github.com/ethereum/EIPs/blob/master/EIPS/eip-721.md) and [ERC20](https://github.com/ethereum/EIPs/blob/7f4f0377730f5fc266824084188cc17cf246932e/EIPS/eip-20.md) datatoken contract for each data service, then mint datatokens.
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@ -16,7 +16,7 @@ The permissions are stored in the data NFT (ERC721) smart contract. The data NFT
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| Set base URI | <center>🗸</center> | | | | |
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| Set Metadata state | | | | | <center>🗸</center> |
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| Set Metadata | | | | | <center>🗸</center> |
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| Create new Datatoken | | | <center>🗸</center> | | |
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| Create new datatoken | | | <center>🗸</center> | | |
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| Executes any other smart contract | | <center>🗸</center> | | | |
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| Set new key-value in store | | | | <center>🗸</center> | |
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@ -27,8 +27,8 @@ Ocean Market provides a convenient interface for individuals as well as organiza
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5. After clicking submit, approve the transactions in the wallet. Here, you can see Metamask window.
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Deploy a new Datatoken contract.
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Deploy a new datatoken contract.
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Contract interaction.
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@ -3,7 +3,7 @@ title: Swap and/or Stake Tokens
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description:
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## Swap Ocean Tokens against Datatokens
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## Swap OCEAN Tokens against datatokens
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1. Search for the desired asset published on the [Ocean Marketplace](https://market.oceanprotocol.com/).
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