ENABLE ENGLISH CAPTIONS To learn how the Envelop protocol works on the #Zillica blockchain, we will need the ZilPay wallet first. It can be found in Chrome or Firefox extension shops. By its functionality ZilPay wallet is similar to Metamask, so we will not waste time on it. Now let's look at the NFT wrapping protocol. In the Zilliqa ecosystem, Envelop offers a token-wrapping service. You can wrap one or many tokens. It creates a new one which is, of course, NFT. You will receive back all the tokens placed inside this wrapped NFT when you unwrap it. Keep in mind that not all the features available on Envelop for Ethereum are currently accessible on Zillica. The main screen shows the NFT contract address and the ID of the NFT that has to be wrapped. In this demo, we'll be wrapping a single original NFT while adding any desired amount of native fungible tokens. Now Zillica has two NFT standards: ZRC-1 and ZRC-6. ZRC-6 is the latest and strongly recommended. Both the original NFT to be wrapped and the final wrapped NFT will be of the ZRC-6 standard. In the "Your wNFTs" section below you'll find statistics for the wrapped NFTs that you already have on the connected wallet. This includes the number of tokens, the amount of fungible tokens that are put inside as collateral, collected fees, and royalties. Let's connect the wallet and observe some updates. Our existing wrapped NFTs are now visible and a notification at the top warns us that we are connected to the Zillica Testnet. To switch to the Mainnet navigate to wallet settings, select "Networks" and make the necessary changes. A key update here is the addition of the "Mint original NFT" checkbox. This is used when we want to get a wrapped NFT but don't have an existing initial NFT or don't want to consume our existing NFT for this purpose. It is like "wrapping emptiness". When this checkbox is activated, the NFT contract address and token ID fields become inactive and the button name changes to "Mint and wrap now" to reflect this. Clicking it initiates the creation of a new initial NFT followed by the wrapping process. Let's give it a try. First, we need to confirm the transaction of minting a new initial NFT. Confirm it and wait for minting (around a minute). The new initial NFT with ID 22 has been minted and it is now visible in a new window. Here we have options for wrapping it. First, we can specify the amounts of native Zil tokens to add as collateral to the final wrapped NFT. There is also the transfer fee amount and its token type which will be paid for every future transfer of the wrapped NFT between owners. These fees will be accumulated and given to the owner upon unwrapping. Next up is royalty calculated as a percentage of transfer fees for every future transfer of the wrapped NFT. If setting up royalties, make sure to include the royalties recipient`s address. Finally, there are two checkboxes for setting unwrapping conditions: the "Fee unlock" checkbox prevents unwrapping until the required transfer fees are collected. And the "Block unlock" checkbox specifies the number of blocks that must be created before unwrapping is allowed (as Zillica smart contracts don't allow time categories, block count is used). When we click the "Wrap token" button, a series of transactions begins. Initially, we approve the token wrapping to the dApp. After confirming the approval, we wait for the results. Following the approval, the wrapping transaction is automatically prompted and we confirm it. As a result, the wrapped NFT with ID 31 has been successfully created. After wrapping you gain access to additional functions. For instance, you can transfer the wrapped NFT to another user. Simply enter the recipient's address in the provided field and click "Accept". Additionally, you have the option to replenish collateral to the wrapped NFT by adding any amount of other permissible tokens. These tokens will appear in the wrapped NFT owner's wallet after unwrapping this NFT. The key function here is unwrapping. Clicking the "Unwrap" button initiates a transaction that transfers the original NFT along with collateral tokens to the owner of the wrapped NFT. The latter becomes obsolete and is burnt. As mentioned earlier, unwrapping may be subject to two conditions: the accumulated transfer fees and the specified number of blockchain blocks created after wrapping. If these conditions are set and not met, you will see a reminder of that instead of the "Unwrap" button. #zrc6 #NFT2.0 #smartnfts -------------------------------------------------------------------------------- Envelop is a flexible cross-chain tool set able to give any NFT new functionality (economic set-up, on-chain royalties, rental mechanism, time/value/event-locks), protection of devaluation and anti-fraud system. ... https://www.youtube.com/watch?v=fX_IkBQ14-g

Join the weekly DAO community call with Alex Shedogubov, Envelop Genesis member Host - Eugene aka @cryptoemcee Timecodes: 00:00 opening remarks 00:55 Alex is back from #coinfestasia where he met Yat Siu from @animocabrands (https://twitter.com/aleks_env/status/1695370955428950306) 07:50 Envelop with OORT Digital is running an in-game NFT drop among #NIFTSY holders (https://blog.envelop.is/envelop-oort-digital-game-drop-20e16204e40e) 09:50 Envelop moves in the right direction 10:50 closing remarks #crossnft #NFT2.0 #smartnfts --------------------------------------------------------------------------------------------------------- The Most Important in the World of NFTs in July 2023: https://blog.envelop.is/niftsy-nft-digest-vol-25-july-58cd146a9410 Join NFT 2.0 News channel for main news from the Web3 world: https://t.me/nonfungible_web ------------------------------------------------------------------------------ Envelop is a flexible cross-chain tool set able to give any NFT new functionality (economic set-up, on-chain royalties, rental mechanism, time/value/event-locks), protection of devaluation and anti-fraud system. ... https://www.youtube.com/watch?v=FcLYZrDlzZM