To introduce a new standard for non-changeable tokens (NFTs), the Callisto Company has teamed up with one of the largest art galleries in the Czech Republic and one of the country’s most popular artists, Patrik Hábl, to organize an event where art will be on the blockchain is created and then destroyed.

The event took place just outside of Prague in Artefin, a contemporary art gallery. In the midst of the super rare collection of Ferraris, Bizzarrini, Maserati and other cars, the audience saw Hábl spread black, blue and yellow paint on a canvas. Then, using a technique he is famous for, Hábl created an abstract landscape by brushing a piece of wood over stains of paint.

A nearby photographer captured the finished work, which will be Hábl’s first NFT.

The artist then poured black paint over all of his work. A day later, he lit the fire and destroyed it. The purpose is to symbolize Hábl’s belief in NFT technology and his desire to perpetuate his art in digital form on the blockchain.

Hábl’s NFT will help introduce CallistoNFT, a new standard of security and convenience in the rapidly evolving world of NFT.

The original NFT standard is from 2017 and ERC-721. Although NFTs have been around for a number of years and despite their great popularity, they still have certain flaws and important functions are missing. To cope with this, Dexaran, Security engineer and smart contract developer who founded the Ethereum Commonwealth and the Callisto Network, created the CallistoNFT standard.

The advantages of CallistoNFT over the existing ERC-721 standard include:

• Integrated Transactions: NFT buyers and sellers no longer have to meet in a central marketplace, where costs are incurred and where nefarious fraudsters can break into the system. Instead, NFT buyers and sellers can express their wishes or buy or sell directly in the token contract. In practice, this means that a buyer can find the NFT in the chain and offer the owner an amount even if that NFT is not listed on the market. If the owner accepts the offer, the contract is concluded immediately.
• Monetization by NFT creators: Developers and creators earn fees for the NFTs they generate instead of losing part of them to the market. Fees are built right into the NFT contract. Additionally, the contract is a tiered solution, meaning fees can be eliminated or made fixed or flexible as the NFTs are sold and resold over time.
• Communication model for smart contracts: The existing ERC-721 standard for NFTs does not contain a communication model. It works silently. When the buyer submits the transaction, the seller’s wallet receives the message: “Hey, I, the buyer, just made X.” The merchant’s account balance is silently updated, but no one is notified. If the receiving address is not intended for storing tokens, it cannot accidentally reject or return the transaction. CallistoNFT fixes this.
• Standardization Attribute: As we all know, NFT is a unique blockchain asset. However, the format in which your data is stored is not defined by ERC-721. The functions that obtain this data from individual NFT contracts are also not defined. These factors together make it more difficult to develop general purpose software (wallets or blockchain explorers) that can easily collect a standardized collection of data for various uses. CallistoNFT aims to standardize this functionality within contracts.

What is certain is that NFT will soon become relevant to everyday life, and not just for collectors of art and other NFT utility tokens. Instead, they act as everything from movie tickets to driver’s licenses, from passports to airline tickets to key cards that give access to blocked websites and even profiles.

By improving and strengthening the standard for powering NFTs, the Callisto network aims to ensure that the future is safer, safer, easier to navigate and more convenient.

About Callisto network

The Callisto network is an Ethereum-based blockchain with its own coin, CLO. Our main goal is to improve the security of the blockchain ecosystem. Since 2018 we have helped improve Ethereum, Ethereum Vintage and EOS and have conducted over 350 smart contract audits, making us a leader in the cryptocurrency security industry.