Aptos Launches New “Aptos Digital Asset Standard” To Promote NFT Ecosystem

August 23, 2023 - Around 2 mins mins to read

Key Points:

The Aptos Public Blockchain Announced the Launch of the “Aptos Digital Asset Standard”.
The standard has a pivotal role in establishing a common foundation for creating, managing, and interacting with digital assets in the blockchain ecosystem.
This digital asset standard focuses on real-world applicability to foster a dynamic, adaptive token ecosystem without complexity.

According to the public blockchain’s official announcement, Aptos said it had launched a new digital asset (DA) standard to establish a common platform to create, manage and interact with digital assets in the blockchain ecosystem.

Aptos Launches New "Aptos Digital Asset Standard" To Promote NFT Ecosystem

Before that, blockchain had released standards like SPL, ERC721, and TokenV1, but each bar had its limits. TokenV1 needs more flexibility. The SPL has an interaction problem. ERC721 does not work correctly. However, with the launch of the introduced DA, there will be unique enhancements to address those issues and deliver powerful improvements on Aptos.

3/ Our Digital Asset Standard is focused on real-world applicability: seamless airdrops, soul binding of tokens, and efficient performance. These features foster a dynamic, adaptive token ecosystem without complexity.
— Aptos (@Aptos_Network) August 22, 2023

In particular, the DA focuses on non-fungible tokens (NFTs) in the Aptos blockchain. DA empowers creators to grow their NFT over time, ensuring a dynamic and adaptive token ecosystem.

By separating extensions from core changes, DA facilitates easy enhancements, enables seamless airdrops, links the souls of tokens, improves fungibility, improves performance, and more efficient on-chain data management.

Through simplifying token management, improved user experience, and the ability to create synthetic NFTs, DA empowers creators, developers, and users to harness the full potential of projects their project in the Aptos ecosystem.

In particular, implementing the Aptos Improvement Proposal (AIP) will help DA improve performance and reduce gas costs by more than 50%, ensuring efficient memory usage, shorter retrieval times, and optimized data access. These improvements make transactions faster and more efficient and help users interact with digital assets more affordable.

Aptos is this year’s featured blockchain, and it successfully raised $200 million in its first round of funding led by a16z. On July 25, the blockchain raised another $150 million in a Series B round led by FTX Ventures and Jump Crypto, in addition to the participation of Binance Labs, Multicoin Capital, and more.

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